Indian Homeopathy market is witnessing a robust growth rate aided by more people turning towards Homeopathy as it is non-invasive, safe, cost-effective and without any side effects says Dr Mukesh Batra of Dr Batra's Healthcare

According to Dr Mukesh Batra, Founder & Chairman Emeritus of Dr Batra’s Healthcare, in India, the homoeopathic market can double in the next four years.

“The homoeopathic market in India is likely to grow 20%-25% annually,” he stated.

Pointing out that while on a global scale, the homoeopathy product market size is growing at a moderate pace, Dr Batra added, that the global growth is witnessing substantial growth rates over the last few years and is estimated that the market will grow significantly between 2022 and 2027 from US$ 854.4 million to US$ 1,377.9 million.

“The Indian population is inclined towards homoeopathy and according to the World Health Organization (WHO), homoeopathy is the second largest system of medicine in the world and third in India,” he further added.

“In India, an estimated ten crore people prefer homoeopathy for their health issues and treatment. In the last few years, homoeopathy has grown three times faster than allopathy. The patients prefer it due to its safety, long-term benefits and absence of any side effects,” he explained.

According to Dr Akshay Batra, Vice-Chairman and Managing Director of Dr Batra's Healthcare, the global homoeopathic products market was valued at US$ 6.2 billion in 2020 and is predicted to grow to more than US$ 19.7 billion by 2030.

Pointing out that the sector is poised to grow at a noteworthy CAGR of 12.3% from 2021 to 2030, he added, “By 2030, the government of India intends to implement a policy known as ‘One Nation, One Health System,’ which will combine modern and traditional medical systems such as allopathy, homoeopathy, and ayurveda into medical practice.”

Emphasising that more and more people are turning towards Homeopathy as it is non-invasive, safe, cost-effective and without any side effects, Dr Batra said, “One of the reasons that make Homeopathy a preferred choice amongst people is that it is a natural and scientific system of medicine and it works for people of all age groups right from infancy to old age.”

“There are over 2.25 lakh registered homoeopathy practitioners with 20,000 new homoeopaths being added each year. With such great track records, I think that the homoeopathy industry is progressing and gaining acceptance and that our collective aim is to make it the preferred choice of medicine in India,” he added.