Homeopathy Product Market is Projected to Proliferate at a CAGR of 18.2% during

Posted by Sachin Darakhe on October 1st, 2019

A marked presence of several small and medium enterprises (SME) renders the competitive landscape in the global homeopathy product market moderately fragmented, finds Transparency Market Research (TMR). In 2015, the leading five players could only account for mere 27.0% share of the global market pointing toward the fragmentation in the market. Of these players, around 17.3% share in the global marked was earned by Boiron, a globally prominent manufacturer, which had a large impact on the contours of the competitive dynamics. The company could boast of prominent position in the global market underpinned by its capacities in key regions such as the Middle East and Africa (MEA), North America, Europe, and Asia Pacific, notes TMR.

TMR analysts also observed that a number of top players are focusing on geographic expansion across Asia Pacific and the Middle East and Africa to consolidate their positions. Several players are also planning to tap into the lucrativeness of e-commerce marketplace in a move to gain a competitive edge over their competitors.The global homeopathy product market stood at US.8 billion in 2015 and is projected to proliferate at a CAGR of 18.2% during 2016–2024. By the end of the forecast period, the market will earn a revenue worth of US.4 billion.

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The various forms of homeopathic products are tablets, tinctures, dilutions, ointments, and biochemics. Of these, dilutions form the most lucrative segment and is expected to reach a worth of US,253.9 million by 2024 end by rising at a rapid pace. The growth can be attributed by substantially rising demand for a convenient dosage form among the patient population.Geographically, the global market is led by Europe which is expected to hold its sway throughout the assessment period. However, the Middle East and Africa market for homeopathy products is anticipated to rise at a potentially attractive CAGR of 21.1% during 2016–2024. The growth is underpinned by the vast rise in disposable incomes.

The study presented here is based on a report by Transparency Market Research (TMR) titled “Homeopathy Product Market (Product Type - Tincture, Dilutions, Biochemics, Ointments, and Tablets; Application - Analgesic and Antipyretic, Respiratory, Neurology, Immunology, Gastroenterology, and Dermatology; Source - Plants, Animals, and Minerals) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024”.