What is the size of homoeopathy market in India?

Answer 1

In 2005, Homeopathy was a Rs 630-crore market in India, growing at 25 per cent. The Indian homeopathy market is expected to top Rs.26 billion ($650 million) by 2010 and outpace the growth of pharmaceutical industry in the country, says a study by a leading industry chamber, ASSOCHAM. The market of this traditional medicine in India, estimated around Rs.12.5 billion, would continue to grow at around 25-30 percent, against 13-15 percent for the pharmaceuticals industry, the study says. In the year 2006-07, about 50 million people opted for homeopathy. This number would exceed 100 million by the end of 2010, according to the study. Currently India has over 400,000 registered homeopaths giving their services in 2,860 hospitals, with a total of 45,720 beds, providing traditional Indian systems of medicine and homeopathy besides 22,100 dispensaries of other traditional medicine. The country churns out no less than 13,000 homeopaths every year. The number of registered traditional medicine practitioners and homeopaths stands at 587,536, which include both institutionally and non-institutionally qualified.