Homeopathic Veterinary Medicines Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
Homeopathy is a discipline of medicine introduced by Samuel Hahnemann, a
German physician. In 1813, Hahnemann first published his theory on use of
homeopathy in animals. This use was similar to use of homeopathy in humans.
Homeopathy emphasizes the principle of ‘like cures like’, according to
which the substance that generates symptoms or diseases in a healthy person
can be used to treat similar symptoms or diseases in patients.
‘Remedies’ are substances diluted to a minute level, which help in
recovering the patient rather than making the condition more severe.
Veterinary homeopathy gained its popularity in the second half of the 20th
century. Since then, veterinary physicians are practicing homeopathy for
treating certain common animal diseases across the world.
Increasing disbursing power and rise in the standard of living have led to increase in the number of companion animals across the globe. Moreover, high demand for food items such as milk, meat, and other animal-derived products (including leather, plasma, proteins) is likely to raise the number of cattle such as cows, goats, and ships across the globe. Demand for organic remedies is likely to increase the consumption of homeopathic veterinary medicines in the near future, as these medicines are derived from natural sources such as plants, animals, and minerals. The number of veterinary homeopaths is rising across the world, which is likely to spread the awareness about homeopathic veterinary. This, in turn, would propel the market for homeopathic veterinary medicines during the forecast period. However, there has been opposition from other disciplines of medicine to the use of homeopathy in animals, due to lack of concrete evidence. This factor is anticipated to restrain the market during the forecast period.
The global homeopathic veterinary medicines market can be segmented on the basis of source of origin, type of animal, distribution channel, and region. In terms of source of origin, the market can be segmented into plant-derived, animal-derived, minerals, and others. Most of the homeopathic medicines are derived from plants. Hence, the plant-derived segment is likely to hold a large share of the global market during the forecast period. Various minerals, chemicals, and other sources such as moonlight, X-rays, and extracts from diseased body parts are used to develop homeopathic veterinary medicines.
Based on type of animal, the market has been segmented into canines, felines, porcine, equines, cattle, and others. The increasing number of cattle and companion animals such as canines and felines is projected to drive the global homeopathic veterinary medicines market from 2017 to 2025. Based on distribution channel, the market has been segmented into retail pharmacies, veterinary clinics, online pharmacies, and others. Increasing adoption of e-commerce is likely to lead to exponential growth of the online pharmacies segment between 2017 and 2025. However, the rise in need for skilled homeopath veterinarians in the diagnosis and administration of customized medicines is anticipated to lead to high share being held by the veterinary clinics segment in the global homeopathic veterinary medicines market.
In terms of region, the global homeopathic veterinary medicines market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is estimated to dominate the global market during the forecast period, due to high adoption of homeopathy and well-established distribution network in the region. North America is estimated to hold a prominent share of the global market in the near future. The market in the region is anticipated to witness strong growth during the forecast period. The increasing number of cattle and companion animals in Asia Pacific is estimated to propel the market in the region during the forecast period.
Major players operating in the global homeopathic veterinary medicines market include Helios Homeopathy Ltd., Omida AG, animalEO, Verm-X, Freemans Homeopathy Pharmacy, VECOL, Guna S.p.A., OVEJERO, Ainsworth Ltd., SBL Pvt. Ltd., and Dorwest Herbs Ltd.
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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