The North America homeopathy market was valued at US$ 1,648.42 million in 2022 and is expected to reach US$ 5,066.80 million by 2030; it is estimated to grow at a CAGR of 15.1% from 2022 to 2030.
The preference for orally administered medications and drugs without any side effects has been on the rise for a long, and it would continue to grow in the coming years. Allopathy contains strong medications; however, they are not appropriate for everyone. Furthermore, allopathic drugs are expensive and only have a transient effect on illnesses. Moreover, despite the completion of the course of prescribed drugs, the illness can resurface. Cases of drug abuse are more common with allopathic medicines, which is another factor for the shifting focus toward natural medications. Homeopathy remedies, on the other hand, are inexpensive and exhibit no or negligible side effects. Thus, the increasing adoption of homeopathic medicine bolsters the homeopathy market growth.
Based on type, the North America 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 North America 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 North America 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 North America homeopathy market is segmented into the US, Canada, and Mexico. The US dominated the North America homeopathy market share in 2022.
Fourrts; Hahnemann Laboratories, Inc; Boiron; Homeocan Inc; Hyland's, Inc.; Biologische Heilmittel Heel GmbH; DHU-Arzneimittel GmbH & Co. KG; Dr Reckeweg & Co GmbH; and Similasan Corp are some of the leading players operating in the North America homeopathy market.
Rise in Adoption of Homeopathic Medicine fuel the North America Homeopathy Market
There are growing concerns about the potential side effects of allopathic pharmaceutical drugs or regular medication. A study published in the Scandinavian Journal of Public Health in 2017 stated that alternative practices are primarily used in a complementary manner or in combination with traditional medicine.The preference for orally administered medications and drugs without any side effects has been on the rise for a long, and it would continue to grow in the coming years. Allopathy contains strong medications; however, they are not appropriate for everyone. Furthermore, allopathic drugs are expensive and only have a transient effect on illnesses. Moreover, despite the completion of the course of prescribed drugs, the illness can resurface. Cases of drug abuse are more common with allopathic medicines, which is another factor for the shifting focus toward natural medications. Homeopathy remedies, on the other hand, are inexpensive and exhibit no or negligible side effects. Thus, the increasing adoption of homeopathic medicine bolsters the homeopathy market growth.
North America Homeopathy Market Overview
The North America homeopathy market has been segmented into the US, Canada, and Mexico; the US held the largest market share in 2022. The market growth in North America is attributed to the increased consumer awareness and interest in homeopathic remedies have played a significant role in the market growth, consumers are actively seeking alternative healthcare options and are more willing to explorer homeopathic treatment contributing to the market’s expansion.North America Homeopathy Market Revenue and Forecast to 2030 (US$ Million)
North America Homeopathy Market Segmentation
The North America homeopathy market is segmented based on source, type, application, distribution channel, and country. Based on source, the North America homeopathy market is segmented into plants, animals, and minerals. The plants segment held the largest market share in 2022.Based on type, the North America 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 North America 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 North America 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 North America homeopathy market is segmented into the US, Canada, and Mexico. The US dominated the North America homeopathy market share in 2022.
Fourrts; Hahnemann Laboratories, Inc; Boiron; Homeocan Inc; Hyland's, Inc.; Biologische Heilmittel Heel GmbH; DHU-Arzneimittel GmbH & Co. KG; Dr Reckeweg & Co GmbH; and Similasan Corp are some of the leading players operating in the North America homeopathy market.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. North America Homeopathy Market - Key Industry Dynamics
5. Homeopathy Market - North America Market Analysis
6. North America Homeopathy Market - Revenue and Forecast to 2030 - by Source
7. North America Homeopathy Market - Revenue and Forecast to 2030 - by Type
8. North America Homeopathy Market - Revenue and Forecast to 2030 - by Application.
9. North America Homeopathy Market - Revenue and Forecast to 2030 - by Distribution Channel
10. North America 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 15.1% CAGR, the North America Homeopathy Market is Speculated to be worth US$ 5,066.80 million by 2030.According to this research,, the North America homeopathy market was valued at US$ 1,648.42 million in 2022 and is expected to reach US$ 5,066.80 million by 2030, registering a CAGR of 15.1% from 2022 to 2030. Safety associated with homeopathic products and rise in adoption of homeopathic medicine are the critical factors attributed to the North America homeopathy market expansion.
Homeopathic medicines are widely considered safe as they are prescribed after special preparation processes. These involve the repeated steps of dilution and succussion of shaking at each dilution. Common potencies used are “30C,” diluted 1:100 30-times, and “200C,” diluted 1:100 20,000-times. Thus, such highly diluted medicines are prescribed by skilled professionals, which are deemed safe and are not likely to cause severe side effects. On December 6, 2022, FDA issued a final guidance, Homeopathic Drug Products, that describes the agency’s approach to prioritizing regulatory actions for homeopathic products posing the greatest risk to patients. The FDA is prioritizing specific categories of drugs, such as those intended for populations at greater risk for adverse reactions. This is expected to drive the North America homeopathy market during the forecast period.
On the contrary, stringent approach by regulatory authorities and shortage of homeopathic facilities & doctors hurdles the growth of North America homeopathy market.
Based on source, the North America homeopathy market is categorized into plants, animals, and minerals. The plants segment held 61.4% market share in 2022, amassing US$ 1,011.37 million. It is projected to garner US$ 3,141.06 million by 2030 to expand at 15.2% CAGR during 2022-2030.
Based on type, the North America homeopathy market is categorized into dilutions, tinctures, biochemics, ointments, tablets, and others. The dilutions segment held 26.4% share of North America homeopathy market in 2022, amassing US$ 434.48 million. It is projected to garner US$ 1,319.09 million by 2030 to expand at 14.9% CAGR during 2022-2030.
Based on application, the North America homeopathy market is categorized into analgesic and antipyretic, respiratory, neurology, immunology, gastroenterology, dermatology, and others. The immunology segment held 23.5% share of North America homeopathy market in 2022, amassing US$ 388.06 million. It is projected to garner US$ 1,249.13 million by 2030 to expand at 15.7% CAGR during 2022-2030.
Based on distribution channel, the North America homeopathy market is categorized into homeopathic clinics, retail pharmacies, e-retailers, and others. The homeopathic clinics segment held 34.7% share of North America homeopathy market in 2022, amassing US$ 572.71 million. It is projected to garner US$ 1,813.36 million by 2030 to expand at 15.5% CAGR during 2022-2030.
Based on country, the North America homeopathy market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 81.5% share of North America homeopathy market in 2022. It was assessed at US$ 1,343.46 million in 2022 and is likely to hit US$ 4,165.93 million by 2030, exhibiting a CAGR of 15.2% during 2022-2030.
Key players operating in the North America homeopathy market are Fourrts; Hahnemann Laboratories, Inc; Boiron; Homeocan Inc; Hyland's, Inc.; Biologische Heilmittel Heel GmbH; DHU-Arzneimittel GmbH & Co. KG; Dr Reckeweg & Co GmbH; and Similasan Corp among others.
In Dec 2020, Launched FILOFLUE, (Homeopathic Preparation) for treatment of Flu like symptoms. In Dec 2020, Haslab launched India's first homeopathy healthcare mobile application in collaboration with 3EA.
Companies Mentioned
- Fourrts
- Hahnemann Laboratories, Inc
- Boiron
- Homeocan Inc
- Hyland's, Inc.
- Biologische Heilmittel Heel GmbH
- DHU-Arzneimittel GmbH & Co. KG
- Dr Reckeweg & Co GmbH
- Similasan Corp
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 92 |
| Published | December 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 1.65 Billion |
| Forecasted Market Value by 2030 | 5.07 Billion |
| Compound Annual Growth Rate | 15.1% |
| Regions Covered | North America |
| No. of Companies Mentioned | 9 |
