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Anti-scientific Attitudes toward Homeopathic Medicines Affecting Market Growth during COVID-19 Pandemic

The position of homeopathic veterinary medicines has become highly debatable these days. The coronavirus outbreak on one side has made pet owners conscious about the well-being of their animals where as anti-scientific attitudes and behavior on the other hand are emerging as a challenge for stakeholders in the homeopathic veterinary medicines market. Nonetheless, stakeholders are strengthening their supply chains through eCommerce, home deliveries, and online pharmacies in order to keep economies running during the pandemic.

Telehealth and e-medicine are fast growing phenomena in the homeopathic veterinary medicines market during the pandemic. Clinical experts and veterinarians are increasing efforts to promote the importance of science-based information for homeopathic medicines. Such promotion is increasing the scope for alternative therapies.

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Short Training Courses for Farmers Contribute to Efficient Animal Health Management

The homeopathic veterinary medicines market is projected to cross US$ 200 Mn by 2031. However, there is a need to improve farmers’ knowledge regarding the use of homeopathic medicines and prevention methods. Improvements in observational skills and alternative medicines are emerging as new ways for veterinarians to work with farmers. The changing role of veterinarians on dairy farms is contributing toward the efficient animal health management.

Increased demand from citizens and consumers for better management of livestock health and greater respect for farm animal welfare are translating into revenue opportunities for healthcare stakeholders in the homeopathic veterinary medicines market and veterinarians. Veterinarians are encouraging farmers for short training courses offered by agriculture-related organizations.

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Evidence-based Homeopathy Overcome Antimicrobial Resistance Problem in Animals

The stakeholders in the Europe homeopathic veterinary medicines market are gaining awareness about evidence-based homeopathy and veterinary homeopathy & its potential to help overcome the antimicrobial resistance problem in domestic & companion animals.

Physicians and veterinarians Dr. Petra Weiermayer, Prof. Michael Frass, Dr. Thomas Peinbauer, and Dr. Liesbeth Ellinger published a conventional peer-reviewed journal highlighting the importance of evidence-based homeopathy and veterinary homeopathy & its potential to help overcome the antimicrobial resistance problem. Companies in the homeopathic veterinary medicines market are taking cues from such findings to evaluate the potential of homeopathy and phytotherapy for the reduction of antibiotics usage in animals. Such trends have the potential to increase the number of organic farms throughout Europe.

Are Homeopathic Veterinary Medicines Reliable for Animal Welfare?

The homeopathic veterinary medicines have gained awareness and business grounds in India. Mukesh Batra, chairman emeritus of Dr. Batra’s Homeopathy in India states that homeopathy has had outstanding effects on pets, especially for skin diseases and arthritis.

In cases where allopathy fails, veterinarians are suggesting homeopathy medicines for domestic and companion animals. However, it is still highly debatable whether homeopathic medicines are always efficacious. In July 2016, several vets in the U.K. signed a petition calling on the Royal College of Veterinary Surgeons to stop vets from offering homeopathy to animals. Thus, companies in the homeopathic veterinary medicines market are increasing their R&D efforts to develop improved formulations in medications.

EU Legislation Boosting Importance of Homeopathic Veterinary Medicines

There is a growing preference and awareness about homeopathy and phytotherapy in organic farms as compared to conventional medicines, including antibiotics. The application of these complimentary medical treatments in the sense of integrative veterinary medicine i.e. the combination of complementary and conventional medical therapy procedures is emerging as an innovative and proactive approach.

The guarantee of the EU legislation over the quality and safety of homeopathic medical products is grabbing the attention of stakeholders in the homeopathic veterinary medicines market. Current national laws in Germany, Switzerland, and Austria pertaining to the homeopathic veterinary medicines are translating into revenue opportunities for stakeholders. Moreover, companies in the homeopathic veterinary medicines market are finding out that homeopathy is helping to reduce the dependence on antibiotics.

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Analysts’ Viewpoint

Despite anti-scientific views and anti-vaccine ideology, especially in the U.S., stakeholders and veterinarians are promoting the importance of homeopathic veterinary medicines amid the ongoing COVID-19 outbreak. The homeopathic veterinary medicines market is expected to expand at a modest CAGR of ~5% during the forecast period. However, there is a lack of evidence whether homeopathy is entirely reliable in the animal health management. Hence, companies are increasing awareness about the EU legislation and the current laws in European countries that are validating the importance of homeopathic veterinary medicines. By carefully observing animals and recording their symptoms, stakeholders & researchers are able to cross-reference the remedies for animals.

Homeopathic Veterinary Medicines Market: Overview

  • This report analyzes the current scenario and future prospects of the global homeopathic veterinary medicines market. The global homeopathic veterinary pharmaceuticals market is estimated to expand due to a rise in the demand for complementary and alternative medicine (CAM), safety and decreased risk of unpleasant side-effects, growing pet ownership and investment in the pet sector, antimicrobial resistance (AMR), and homeopathy as an alternative therapy.
  • The report provides an elaborate executive summary, including a snapshot of various segments of the homeopathic veterinary medicines market. It also provides elaborate information and data analysis of the global homeopathic veterinary medicines market with regards to segments based on source of origin, type of animal, distribution channel, and region.
  • The overview section of the report provides a detailed qualitative analysis of drivers and restraints, and opportunities that impact the global homeopathic veterinary medicines market
  • Additionally, the report includes company profiles which provide information about their business, product portfolios, and competitive landscape in the homeopathic veterinary medicines market
  • The report on the global homeopathic veterinary medicines market offers market attractiveness analysis of the regions and segments
  • The last section of the report comprises quantitative and qualitative analysis on market share/position of key players operating in the global homeopathic veterinary medicines market. It analyzes the key competitive strategies adopted by the major industry players, thereby presenting a thorough understanding of the competitive scenario in the global homeopathic veterinary medicines market.

Homeopathic Veterinary Medicines Market: Key Segments

  • In terms of source of origin, the global homeopathic veterinary medicines market has been classified into plant-derived, animal-derived, and minerals. The plant-derived segment held a major share of the global homeopathic veterinary medicines market in 2020, and the trend is anticipated to continue during the forecast period.
  • Based on type of animal, the global homeopathic veterinary medicines market has been segmented into domestic animals, and companion animals. The domestic animals segment accounted for majority of the market share in 2020.
  • In terms of distribution channel, the global homeopathic veterinary medicines market has been categorized into retail pharmacies, veterinary clinics, and online pharmacies
  • The market value and forecast for each of these segments have been provided from 2017 to 2031. The CAGRs of respective segments have also been provided from 2021 to 2031, considering 2017 to 2019 as the historical years and 2020 as base year.

Homeopathic Veterinary Medicines Market: Regional Outlook

  • In terms of region, the global homeopathic veterinary medicines market has been divided into North America (the U.S. and Canada), Europe (the U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa). Each region considered in the market has been divided into countries/sub-regions.
  • The homeopathic veterinary medicines market report provides value and forecast for each region and country/sub-region from 2017 to 2031. The compound annual growth rates (CAGRs) for each of these regions and countries have also been provided for the forecast period from 2021 to 2031. The homeopathic veterinary medicines market study also covers the competitive scenario in these regions.

Companies Mentioned in Report

  • Key players in the global homeopathic veterinary medicines market have been profiled based on attributes such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies
  • Major companies profiled in the global homeopathic veterinary medicines market report are
    • Boiron Laboratories
    • animalEO
    • Dorwest Herbs Ltd.
    • Freemans Homeopathy Pharmacy
    • Goel Vet Pharma
    • Guna SPA
    • Helios Homeopathy Ltd.
    • Hivet
    • Omida AG
    • CURE WELL HOMOEO PHARMACY
    • Dr. Reckeweg & Co. GmbH
    • Biologische Heilmittel Heel GmbH

Homeopathic Veterinary Medicines Market – Scope of the Report

TMR’s report on the global homeopathic veterinary medicines market studies the past as well as the current growth trends and opportunities to gain valuable insights of same indicators for the said market during the forecast period of 2017 to 2031. The report provides the overall market revenue of the global homeopathic veterinary medicines market for the period of 2017–2031, with 2017 to 2019 as historical year and 2020 as the base year and 2021 to 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global homeopathic veterinary medicines market for the forecast period.

The report has been prepared after an extensive research. Primary research involves bulk of research efforts, wherein, analysts have carried out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, articles, journals, and relevant documents to understand the global homeopathic veterinary medicines market.

Secondary research also includes internet sources, statistical data from government agencies, websites, and trade associations. Analysts have also employed the top-down approach to study various phenomena in the global homeopathic veterinary medicines market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global homeopathic veterinary medicines market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global homeopathic veterinary medicines market. The next section of the global homeopathic veterinary medicines report highlights the USPs, which include key mergers & acquisitions, technological advancements, major research institutes involved, pricing analysis, and key developments in the global homeopathic veterinary medicines market. 

The report delves into the competition landscape of the global homeopathic veterinary medicines market. Key players operating in the global homeopathic veterinary medicines market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOTs are some of the attributes of players in the global homeopathic veterinary medicines market profiled in this report.

Key Questions Answered in Homeopathic Veterinary Medicines Market Report

  • What are the major drivers, restraints, opportunities in the market?
  • What will be the revenue share projections of key segments in the global homeopathic veterinary medicines market during the forecast period?
  • Which segment is likely to lead the global homeopathic veterinary medicines market in terms of revenue by 2031?
  • How mergers & acquisitions among players are widening the scope for the global homeopathic veterinary medicines market?
  • Which are the leading companies in the global homeopathic veterinary medicines market?

Homeopathic Veterinary Medicines Market – Research Objectives and Research Approach

The comprehensive report on the global homeopathic veterinary medicines market begins with an overview of the said market, followed by the scope and objectives of this study. Following this, the report provides detailed explanation of the objectives behind this study and healthcare compliances laid down by accredited agencies in the purview of research in the global homeopathic veterinary medicines market. It is followed by market introduction, market dynamics, and an overview of the global homeopathic veterinary medicines market, which includes TMR analysis of market drivers, restraints, and trends affecting the growth of the global homeopathic veterinary medicines market. Furthermore, to understand the Y-o-Y trends of the homeopathic veterinary medicines market, a Y-o-Y analysis with elaborated insights on the same has been provided. The next section of the global homeopathic veterinary medicines report highlights the USPs, which include homeopathic veterinary medicines: technology snapshot, homeopathic veterinary medicines: process overview, homeopathic veterinary medicines: prominent software tools, homeopathic veterinary medicines: key industry developments, homeopathic veterinary medicines: regulatory scenario, homeopathic veterinary medicines: reimbursement scenario in the global market.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into small sections. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of market shares of key segments in the past and at the end of the forecast period.

The report analyzes the global homeopathic veterinary medicines market in terms of source of origin, type of animal, distribution channel, and region. Key segments under each criteria have been studied at length, and the market share for each of them at the end of 2031 has been provided herein. Such valuable insights enable market stakeholders in making informed business decisions for investments in the homeopathic veterinary medicines market.

Homeopathic Veterinary Medicines Market – Segmentation

Source of Origin
  • Plant-derived
  • Animal-derived
  • Minerals
Type of Animal
  • Domestic Animals
  • Companion Animals
Distribution Channel
  • Retail Pharmacies
  • Veterinary Clinics
  • Online Pharmacies
Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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