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Despite Western Attack, Homeopathy Market Grows

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Kounteya Sinha, TNN Mar 21, 2011, 02.06am IST

New Delhi:

Many Western nations, such as Great Britain continuously issue scathing attacks on homeopathy, citing it as unscientific. Despite dozens of systematic reviews, there has been a failure to produce convincing evidence of it’s medical effectiveness. Yet, despite the denouncing critics, homeopathy, which has a history of 250 years or more, continues to gain in popularity.

One study claims that the Indian homeopathy treatment market has the potential to grow 30% annually and is pegged at 870 million US dollars in the upcoming years. On a global level, the homeopathy market is estimated at nearly 5 Billion US dollars, with France as the largest contributor. This prevalence of homeopathy treatment use in mainstream society, particularly in nations such as France will continue to increase in years to come.

This past year, the size of the domestic homeopathy market was around 523 million US Dollars as reported in a study performed by Associated Chambers of Commerce and Industry of India (ASSOCHAM). Union health ministry officials claim that nearly 100 million Indians depend on homeopathy solely. This figure is expected to exceed 160 million US Dollars in the next three years. India has over 500,000 registered homeopaths and nearly 20,000 more are being trained annually. There are 185 homeopathic institutions, offering 33 PG courses. In addition, there are 11,000 homeopathic hospital beds available in the nation.

D S Rawat, the secretary general of ASSOCHAM points out a practical issue of the unavailability of homeopathic medicines in 15-25 outlets in the cities, in comparison to the scope of allopathic drug availability. Yet, abroad this scenario is vastly different. In other countries such as those in Europe as well as the US, there are few practitioners of homeopathy. Yet, as opposed to the scenario in India, the medicines themselves have better distribution throughout these nations. This explains the span of the market across France, the UK as well as the US, one steeped in homeopathic remedies with few available practitioners to assist in providing consultations on the proper medicines for individual use.

In the UK, the homeopathy market is pegged at nearly 71.5 million US dollars by 2012. The World Health Organization reports that individualized treatment with homeopathy is practiced in 66 countries worldwide.

This article can be found at http://articles.timesofindia.indiatimes.com/2011-03-21/science/29170700_1_homeopathy-homeopathic-medicines-homoeopathic

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