Homeopathy Product Market is Expected to Reach US$17,486.2 Million by 2024; the Market is on a Favorable Growth Curve in Europe and North America

ALBANY, New York, January 11, 2017 /PRNewswire/ --

The global demand for Homeopathic Products has growth by remarkable lengths over the past few years, thanks to the massive interest shown by developed economies. The recognized forms of delivery in the global homeopathy product market include tablets, ointments, biochemicals, dilutions, and tinctures. Each form has found its own range of success in different regions based on the type of treatment in demand. The global homeopathy product market currently claims to cater to several applications, including treatments in dermatology, gastroenterology, immunology, neurology, respiratory, and antipyretic systems.

The global Homeopathy Product Market is expected to reach US$ 17,486 million by the end of 2024. It is projected at an astounding CAGR of 18.2% within a forecast period from 2016 to 2024. This market was calculated at US$ 386 million in 2015. Several factors are working in favor of - and in opposition to - the global homeopathy product market.

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Demand for Convenient Dosages to Bolster Demand for Homeopathic Products in Dilution Form 

On the basis of product type, the study examines homeopathy medicine varieties in forms such as as tablet, tincture, biochemics, dilutions, and ointments. Of these, the dilutions segment is anticipated to account for US$6,253.9 mn by 2024, registering a substantially high CAGR of 17.8% over the forecast period. The high demand for homeopathy products in dilutions form can be attributed to the increasing demand for convenient dosage forms. The segment is estimated to account for the dominant share of 36.8% in the global homeopathy product market by 2016 end but is expected to decrease to 35.8% by 2024.

The tincture segment is expected to follow closely with a value share of 19.5% by 2024 and a CAGR of 17.8% over the period between 2016 and 2024. The segment of ointments is expected to be the most promising in terms of future growth prospects. The study states that the market for homeopathy ointments will exhibit a CAGR of 19.8% from 2016 through 2024, accounting for nearly 12% of the overall market by 2024.

Market in Middle East and Africa to Witness Most Promising Growth 

On the basis of geography, the market for Homeopathy Products in Europe is projected to remain dominant in the global market throughout the forecast period. Homeopathic product in Europe region is estimated to account for the most significant share of 37.9% in 2016, which is expected to decrease to 36.4% by 2024.

The market for homeopathic products is expected to witness a robust growth in the Asia Pacific region owing to increasing population and demand for alternative low cost medicines. The regional market is expected to exhibit a strong CAGR of 18.9% over the forecast period. It is also expected to benefit from rising online sales of homeopathic products and intense competition among homeopathic product manufacturers across key developing and developed countries in the region.

The homeopathy products market in Middle East and Africa projected to be the one with the most promising growth rate in the near future, an estimated 21.1% CAGR from 2016 through 2024. The MEA region has witnessed rapid increase in disposable income over the last few years and this has subsequently led to an increase in the number of consumers able to pay for homeopathy product.

The report also profiles some of the leading homeopathic products manufacturers operating in the global homeopathic products market. Key market players featured in the report include Boiron Group, Biologische Heilmittel Heel GmbH, A Nelson & Co Ltd, GMP Laboratories of America, Inc., Standard Homeopathic Company (Hyland's, Inc.), Washington Homeopathic Products, Inc., Homeocan inc., Hahnemann Laboratories, Inc., Mediral International Inc., and Ainsworths Ltd.

Browse Regional PR: http://www.europlat.org/homeopathy-product-market.htm

This review of the market is based on a recent market research report published by TMR, titled "Homeopathy Product Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.

For the study, the global homeopathy market has been segmented as follows:

Global Homeopathy Product Market, Type: 

• Tincture
• Dilutions
• Biochemics
• Ointments
• Tablets
• Others

Global Homeopathy Product Market, Application 

• Analgesic and Antipyretic
• Respiratory
• Neurology
• Immunology
• Gastroenterology
• Dermatology
• Others

Global Homeopathy Product Market, Source: 

• Plants
• Animals
• Minerals

Global Homeopathy Product Market, Geography: 

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

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Opium Tincture Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
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