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Indian Homeopathic Product Industry

The document discusses the homeopathy products industry. It defines key terms like industry, product, and provides criteria for an effective product. It then analyzes segments of the global homeopathy products market based on application, product type, and source. Major players are identified and regulations regarding homeopathy medicines in India are outlined. Rapid growth of the industry in Asia is attributed to increasing population, awareness, and competition in the natural medicines market.

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66 views6 pages

Indian Homeopathic Product Industry

The document discusses the homeopathy products industry. It defines key terms like industry, product, and provides criteria for an effective product. It then analyzes segments of the global homeopathy products market based on application, product type, and source. Major players are identified and regulations regarding homeopathy medicines in India are outlined. Rapid growth of the industry in Asia is attributed to increasing population, awareness, and competition in the natural medicines market.

Uploaded by

anusha botla
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Definition of industry

An industry or sector is the whole of all economic activities by companies ,people


and organizations involved in the production of goods and services for a particular
field. Industries are usually categorized by the goods and services they produce.

Definition of product

 A product is the items offered for sale.


 A product can be a service or an item .it can be physical or in virtual or
cyber form.
 Every product is made at a cost and each is sold at a price. The price that
can be charged depends on the market the quality , the marketing and the
segment that is targeted.
 Each product has a useful life after which it needs replacement and a life
cycle after which it has to be re-invented.
 In FMCG parlance a brand can be revamped ,re-launched or extended to
make it more relevant to the segment and times, often keeping the product
almost the same.

Criteria of a product

A product needs to be relevant :The users must have an immediate use for it .A
product need to be functionally able to do what is supposed to, and do it with a
good quality.

A product needs to be communicated: users and potential users must know why
they need to use it , what benefits they can derive from it, and what it does
difference it does to their lives. Advertising and brand building best do this.

A product needs a name: A name that people remember and relate to a product
with a name becomes a brand it helps it stand out from the clutter of product and
name.
A product should be adaptable: with trends time and change in segments the
product should lend itself to adaptation to make it more relevant and maintain its
revenue stream.

Homeopathy products market is divided based on

 Application
 Product
 Source

Global homeopathy products Market: Product segment Analysis

 Tincture
 Dilutions
 Bio chemics
 Ointment
 Tablets

Based on the product

 Dilution segment held approximately 36percent of the total


homeopathy products market in 2016 . the increase in demand for
dilution medicines worldwide is anticipated to fuel this markets growth
during the forecast time frame.
 The ointment segment is expected to show the hihest CAGR in the
forecast time frame

Global Homeopathy products market :source segment Analysis

 Plants
 Animals
 Minerals

The source segment

 The plants segment is anticipated to dominate the homeopathy product


market, due to the increased demand for natural medicines.
 The minerals segment is anticipated to show a rapid growth in the
source segment

Global Homeopathy products market :Application segment Analysis

 Analgesic and antipyretic


 Respiratory
 Neurology
 Immunology
 Gastroenterology
 Dermatology
 Others

On the basis of application

 The dermatology segment accounted for a significant share in the global


market in 2917 and is expected to register a high growth rate in future,
owing to rising incidence of skin related diseases globally.

HOMEOPATHY INDUSTRY

Additionally in August 2020 the Gujarat health department reported that they
had distributed the homeopathic drug ARSENICUM ALBUM 30 as the prophylaxis
treatment to approximately 3.48 crore people which is more than half of the
Gujarats population, since march 2020 ,after the COVID 19 OUTBREAK .These
medicines are cost effective as compared to other synthetic products. At present
India is also one of the top exporters of alternative medicine in the world. Major
export destination includes the united states and European countries like
Germany and France . The government of India is continuously the industry with
investments in scientific research inAYUSH buildings the necessary infrastructure
and regulatory frame work to regulate this system of medicine. Medicine market
is the general perception of the treatment as a secondary source of medication.

Reasons for rapid growth in Asia region

 The rapid increase in population which in turn increase the patient pool
 Rising online demand for homeopathic products
 Strong competition between the homeopathy product manufacture are
fuelling the growth of the homeopathy product market
 Increase in demand for better treatment producers
 Rapid technological development
 Growing awareness about low cost medicines are some other factors
driving this markets growth in the Asia pacific region
 Increase in the side effects of the allopathic medicine is driving the
population towards homeopathy medicine.

What are the homeopathy products and how can you are taking one?

There are no FDA Approved product labeled as homeopathic this means that any
product labeled as homeopathic is being marketed in the U.S without FDA
evaluation for safety or effectiveness .These products are often marketed as
natural, safe and effective alternatives to approved prescription and non
prescription products and are sold online and in major retail stores.

Product labeled as homeopathic can contain a wide range of substance including


ingredients derived from plants, healthy or diseased or human sources, minerals
and chemicals.

Products labeled as homeopathic includes

 The word ‘HOMEOPATHIC’


 The ingredients listed in terms of dilution eg 1X, 6X,2C

The major players in the global homeopathy products market are

1. Sharda Boiron laboratories limited –DELHI


2. Dr.Willmar schwabe India private limited – UTTAR PRADESH
3. Hahnemann scientific laboratories private limited- LUCKNOW

Status of Homeopathy medicine under

Drugs and cosmetic Act 1940 and 1945

Homeopathic medicine are covered under the provision of drugs and cosmetic Act
1940 and the Rules made there under some important provisions are

Homeopathic medicine are defined under Rule 2(dd) of drugs and cosmetics
Rules 1945

Standards of Homeopathic medicines to be complied for manufacture for sale


distribution or import are defined under second schedule of the drugs and
cosmetics Act

New Homeopathic medicines are covered under Rule 30 aa

Minimum requirements for good manufacture practices are included in schedule


M1

Ophthalmic preparations standards and condition for preparation there of are


covered under schedule FF [Rule 126 a}

Homeopathy pharmacopeia. Laboratory Ghaziabad is to function as central Drugs


laboratory W.R.I .Homeopathic drugs under section 6 of the act under sub rule 7
of rule3-a

Anybody can get medicines tested under section 26

Under section 26-a central government can cancel licence of manufacturing a


drug if therapeutics claims are not genuine

Procedures for labeling and packing of homeopathic medicines are covered under
Rule 32 A, Rule 106 a and 106 b[part IX-a]

Rule 85b covers manufacture of mother tinctures ,potencies or potencies from


back potencies .Application for which is made under form 24c.
Rule 85 c and 30 aa covers manufacture of new Homeopathy drugs

Individual pharmacists [shop keeper] are allowed to manufacture of potencies


only and that only and that only from back potencies under Rule 85 d

Retail is covered under Rule 67c. Application be made under form 20-d single
drugs

Though whole sale is covered under Rule 67 c, but application is made under form
20-d single drugs

Licensing authority for issue of licence for Homeopathic medicines lies with the
state government as per Rule 67 and 85 b.

REFERENCES

THE DRUG AND COSMETIC ACT 1940[BARE ACT]

WWW.nccih.nih.gov

www.fda.gov

www.who.int

The lancet.com

Market research future website.

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