Homeopathy has been integrated into the healthcare systems of many European countries including France, Germany, the Netherlands, Italy, Switzerland and Portugal.
A survey conducted by Global TGI in 2008 found 15% of the population of Britain trusted homeopathy.
Research carried out by market research analyst Mintel estimates U.S. retail sales of homeopathic and herbal remedies reached $6.4 billion in 2012, up almost 3% from 2011, which means the market has grown 16% over the past five years. Mintel forecasts demand will continue to increase over the next few years and by 2017 sales are expected to reach $7.5 billion as more Americans become proactive about their health and the availability of these medicines increases through mass retailers.
In India homeopathy is one of the most popular forms of medicine. Today there are are over 200,000 registered homeopathic practitioners, 215 homeopathic hospitals and 7,000 homeopathic dispensaries.
The growth in demand for homeopathic products is set to increase significantly over the course of the next few years. According to research by US-based Transparency Market Research, growing interest in homeopathy in developed countries has fueled the growth in the homeopathic products market, which is forecast to reach over $17bn by 2024 – the same market was calculated to be worth $386m in 2015.
Whilst the Middle East and Africa and Asia Pacific regions are set to produce the largest growth, due to increased disposable income and greater availability of products online respectively, it is anticipated that Europe will maintain its stronghold on the market throughout this time. Mustard Research’s 2015 consumer research report found that 9 million people in the UK use homeopathic products and TMR’s report suggests that there is no sign of its popularity diminishing, as more holistic forms of treatment are favoured and credible alternatives to over-prescription are sought.
Paul McCartney, David Beckham, Twiggy, Roger Daltrey, Caprice, Susan Hampshire, Tina Turner, Louise Jameson, Gaby Roslin, Jude Law, Sadie Frost, Nadia Sawalha, Richard Branson, Debra Stephenson and Meera Syal, as well as The Queen are all users of homeopathy.
1. Global TGI Barometer, January 2008; Issue 33.
2. Complementary Medicines – UK, Mintel April 2007
3. ECHAMP’s Facts & Figures, 2nd Ed, 2007.