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Homoeopathic market in India to grow 20-25% annually and resize itself to 1.08 billion: Dr Mukesh Batra
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Shardul Nautiyal, Mumbai
January 03 , 2023
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Homoeopathic market in India is likely to grow 20%-25% annually and resize itself to 1.08 billion, informs leading homoeopath Dr Mukesh Batra adding that this can be attributed to the fact India has over 5 lakh registered homoeopaths and around 20,000 more are being added every year.
In India, over 10 crore people depend on homeopathy for health issues. According to the World Health Organization (WHO), homoeopathy is the 2nd largest system of medicine in the world. Homoeopathy is practiced in more than 80 countries and globally over 200 million people use homeopathy on a regular basis.
“Global homoeopathy product market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2022 to 2027 from US$ 854.4 million to US$ 1,377.9 million,” informed Dr. Mukesh Batra, Padmashree Recipient, founder and chairman Emeritus, Dr. Batra’s Positive Health Clinics.
Dr. Batra has spread homeopathy across North America, Asia, Europe, Australia and Africa and has catered to the healthcare needs of over 15 lakh people through his 45 years of homoeopathic medical practice. From a single-doctor clinic in Mumbai in 1982, Dr Batra’s Positive Health Clinics is today a chain of over 225 clinics spread across 130 cities in 5 countries – India and abroad - with over 350 full-time doctors, of which 45 are MD-homoeopaths. It has specialists like trichologists, dermatologists, endocrinologists, pediatricians and nutritionists – collectively making it the most unparalleled expertise within a single institution.
Dr Batra’s has offered individualized treatment and care to over a million patients across the globe with positive treatment outcome of 91% (as audited by the US-based agency American Quality Assessors).
The medicines prescribed and dispensed to patients are obtained from leading suppliers, with test certificates as per National or International Homoeopathic Pharmacopoeia Standards. Blister packaging is used to ensure that the medicine remains in its purest form till the time it is consumed.
In terms of the global share, India has also grown faster in the Ayush market as compared to the world and accounts for about 2.8 per cent of the market, which is likely to hold even though disruptions in production are not ruled out.
The global market for Ayush was valued at $657.5 billion in 2020 and has boomed to $746.9 billion by the end of 2022. India’s Ayush sector is said to have a market share of US$ 23 billion by the end of 2023.
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