The Europe homeopathy market was valued at US$ 2,346.30 million in 2022 and is expected to reach US$ 6,859.34 million by 2030; it is estimated to grow at a CAGR of 14.4% from 2022 to 2030.
The COVID-19 pandemic has also benefited the homeopathic remedies trend as consumers sought to boost their immunity levels by using these preparations. Natural ingredients used in these health products such as the high vitamin C content of baobab help improve and strengthen immune system function. The growing aging population is another factor driving the demand for plant-based dietary supplements; these individuals seek to boost their immune systems and overall health.
In addition to the rising preference for plant-based dietary supplements, growth strategies adopted by companies in the homeopathy market are expected to bring new trends into the market in the future. In April 2022, Dr. Batra's Clinic expanded its footprint in smaller towns and cities, and it is expected to introduce a homeopathy clinic network to 225 centers in the upcoming year. This would improve the accessibility of homeopathy medicines in untapped regions and developing countries. In October 2022, Kaps3 Lifesciences Pvt Ltd launched its “Kaps3 Homeopathy Division.” The company launched this product category on World Homeopathy Day.
Based on type, the Europe homeopathy market is segmented into dilutions, tinctures, biochemics, ointments, tablets, and others. The dilutions segment held the largest market share in 2022.
Based on application, the Europe homeopathy market is segmented into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. The immunology segment held the largest market share in 2022.
Based on distribution channel, the Europe homeopathy market is segmented into homeopathic clinics, retail pharmacies, e-retailers, and others. The homeopathic clinics segment held the largest market share in 2022.
Based on country, the Europe homeopathy market is segmented into Russia, Poland, Czech Republic, Hungary, Bulgaria, Romania, the UK, Germany, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe homeopathy market share in 2022.
Fourrts; Boiron; Nelson Pharmacies Limited; Weleda UK; Biologische Heilmittel Heel GmbH; Ainsworths (London) Limited; DHU-Arzneimittel GmbH & Co. KG; Dr Reckeweg & Co GmbH; Similasan Corp; and PEKANA Naturheilmittel GmbH are some of the leading players operating in the Europe homeopathy market.
Increasing Demand for Plant-Based Supplements and Launch of Innovative Homeopathic Remedies fuel the Europe Homeopathy Market
Similar to plant-based foods, plant-based dietary supplements have gained huge popularity among consumers, which presents an opportunity for plant-based supplement suppliers in developing countries. According to Google Trends, the popularity of veganism ramped up sevenfold between 2014 and 2019. Consumers are giving up meat for two main reasons: perceived health benefits and ethical & environmental issues. Meat production requires intensive use of resources, especially land and water, as well as operations in meat slaughterhouses and production & processing facilities leading to the release of greenhouse gases. In addition, the COVID-19 pandemic tarnished the image of the meat industry in countries such as Germany, as slaughterhouses were traced back to being the main point of transmission of SARS-CoV-2. The pandemic also shed light on poor working conditions in the meat industry. These factors led to severe effects on the sales of dietary supplements sourced from animals.The COVID-19 pandemic has also benefited the homeopathic remedies trend as consumers sought to boost their immunity levels by using these preparations. Natural ingredients used in these health products such as the high vitamin C content of baobab help improve and strengthen immune system function. The growing aging population is another factor driving the demand for plant-based dietary supplements; these individuals seek to boost their immune systems and overall health.
In addition to the rising preference for plant-based dietary supplements, growth strategies adopted by companies in the homeopathy market are expected to bring new trends into the market in the future. In April 2022, Dr. Batra's Clinic expanded its footprint in smaller towns and cities, and it is expected to introduce a homeopathy clinic network to 225 centers in the upcoming year. This would improve the accessibility of homeopathy medicines in untapped regions and developing countries. In October 2022, Kaps3 Lifesciences Pvt Ltd launched its “Kaps3 Homeopathy Division.” The company launched this product category on World Homeopathy Day.
Europe Homeopathy Market Overview
The Europe homeopathy market is segmented into Russia, Poland, Czech Republic, Hungary, Bulgaria, Romania, U.K., Germany, France, Italy, Spain, and the Rest of Europe. The growth in the region is driven by increasing focus on preventive healthcare, integration with the conventional medicine, an increasing supportive regulatory environment in the region.Europe Homeopathy Market Revenue and Forecast to 2030 (US$ Million)
Europe Homeopathy Market Segmentation
The Europe homeopathy market is segmented based on source, type, application, distribution channel, and country. Based on sources, the Europe homeopathy market is segmented into plants, animals, and minerals. The plants segment held the largest market share in 2022.Based on type, the Europe homeopathy market is segmented into dilutions, tinctures, biochemics, ointments, tablets, and others. The dilutions segment held the largest market share in 2022.
Based on application, the Europe homeopathy market is segmented into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. The immunology segment held the largest market share in 2022.
Based on distribution channel, the Europe homeopathy market is segmented into homeopathic clinics, retail pharmacies, e-retailers, and others. The homeopathic clinics segment held the largest market share in 2022.
Based on country, the Europe homeopathy market is segmented into Russia, Poland, Czech Republic, Hungary, Bulgaria, Romania, the UK, Germany, France, Italy, Spain, and the Rest of Europe. Germany dominated the Europe homeopathy market share in 2022.
Fourrts; Boiron; Nelson Pharmacies Limited; Weleda UK; Biologische Heilmittel Heel GmbH; Ainsworths (London) Limited; DHU-Arzneimittel GmbH & Co. KG; Dr Reckeweg & Co GmbH; Similasan Corp; and PEKANA Naturheilmittel GmbH are some of the leading players operating in the Europe homeopathy market.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Europe Homeopathy Market - Key Industry Dynamics
5. Homeopathy Market - Europe Market Analysis
6. Europe Homeopathy Market - Revenue and Forecast to 2030 - by Source
7. Europe Homeopathy Market - Revenue and Forecast to 2030 - by Type
8. Europe Homeopathy Market - Revenue and Forecast to 2030 - by Application.
9. Europe Homeopathy Market - Revenue and Forecast to 2030 - by Distribution Channel
10. Europe Homeopathy Market - Revenue and Forecast to 2030 - Country Analysis
11. Homeopathy Market-Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Executive Summary
At 14.4% CAGR, the Europe Homeopathy Market is Speculated to be worth US$ 6,859.34 million by 2030.According to this research,, the Europe homeopathy market was valued at US$ 2,346.30 million in 2022 and is expected to reach US$ 6,859.34 million by 2030, registering a CAGR of 14.4% from 2022 to 2030. Safety associated with homeopathic products and rise in adoption of homeopathic medicine are the critical factors attributed to the Europe homeopathy market expansion.
In Europe, there is a notable shift towards holistic healthcare approaches that consider physical, mental, and emotional aspects of well-being. Homeopathic medicine use is commonplace in Europe, where awareness of the practice is still high (79% of French, 60% of Germans, 57% of Italians, and 47% of Spaniards have used homeopathic drugs in their lifetimes), as per European Coalition on Homeopathic & Anthroposophic Medicinal Products. Additionally, there is a high level of satisfaction with this course of treatment. In Germany, 90% of patients find homeopathic remedies to be fully or partially effective, while 84% of Spanish patients, 81% of Italian patients, and 73% of French patients who are aware of this course of treatment have faith in it. The majority of people in these four nations see homeopathy as an adjunct to conventional medicine and believe it should be recommended or made available. For example, in Germany, two-thirds of people (including 75 percent of women) think homeopathic medicines should continue to be sold alongside conventional medicines. Homeopathy should be suggested by medical professionals, according to 84% of Italians and 80% of Spaniards, while 83% of people in France believe that doctors should be able to prescribe homeopathy in addition to conventional medications. The popularity of and interest in homeopathy in Europe reflects the general trend of patients being more concerned with their own health. Since the COVID-19 pandemic, there has been a significant increase in health literacy, and individuals are actively participating in their own care and learning about health in all of its aspects. Thus, rising awareness and acceptance of homeopathy across the region are expected to offer lucrative opportunities to the players operating in the homeopathy market. This is expected to drive the Europe homeopathy market during the forecast period.
On the contrary, stringent approach by regulatory authorities and shortage of homeopathic facilities & doctors hurdles the growth of Europe homeopathy market.
Based on source, the Europe homeopathy market is categorized into plants, animals, and minerals. The plants segment held 61.1% market share in 2022, amassing US$ 1,433.15 million. It is projected to garner US$ 4,233.63 million by 2030 to expand at 14.5% CAGR during 2022-2030.
Based on type, the Europe homeopathy market is categorized into dilutions, tinctures, biochemics, ointments, tablets, and others. The dilutions segment held 25.8% share of Europe homeopathy market in 2022, amassing US$ 604.61 million. It is projected to garner US$ 1,745.46 million by 2030 to expand at 14.2% CAGR during 2022-2030.
Based on application, the Europe homeopathy market is categorized into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. The immunology segment held 24.1% share of Europe homeopathy market in 2022, amassing US$ 565.98 million. It is projected to garner US$ 1,732.34 million by 2030 to expand at 15.0% CAGR during 2022-2030.
Based on distribution channel, the Europe homeopathy market is categorized into homeopathic clinics, retail pharmacies, e-retailers, and others. The homeopathic clinics segment held 35.2% share of Europe homeopathy market in 2022, amassing US$ 826.12 million. It is projected to garner US$ 2,488.45 million by 2030 to expand at 14.8% CAGR during 2022-2030.
Based on country, the Europe homeopathy market has been categorized into Russia, Poland, Czech Republic, Hungary, Bulgaria, Romania, the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 18.9% share of Europe homeopathy market in 2022. It was assessed at US$ 444.59 million in 2022 and is likely to hit US$ 1,301.77 million by 2030, exhibiting a CAGR of 14.4% during 2022-2030.
Key players operating in the Europe homeopathy market are Fourrts; Boiron; Nelson Pharmacies Limited; Weleda UK; Biologische Heilmittel Heel GmbH; Ainsworths (London) Limited; DHU-Arzneimittel GmbH & Co. KG; Dr Reckeweg & Co GmbH; Similasan Corp; and PEKANA Naturheilmittel Gmb, among others.
In Dec 2020, Launched FILOFLUE, (Homeopathic Preparation) for treatment of Flu like symptoms. In July 2022, Boiron partnered with Galenica's Verfora in Switzerland.
Companies Mentioned
- Ainsworths (London) Limited
- Biologische Heilmittel Heel GmbH
- Boiron
- DHU-Arzneimittel GmbH & Co. KG
- Dr Reckeweg & Co GmbH
- Fourrts
- Nelson Pharmacies Limited
- PEKANA Naturheilmittel GmbH
- Similasan Corp
- Weleda UK
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 125 |
| Published | December 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 2.35 Billion |
| Forecasted Market Value by 2030 | 6.86 Billion |
| Compound Annual Growth Rate | 14.4% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 10 |
