Why homeopathy may soon be a $2.5bn industry
New Zealand’s Health Ministry has published a paper on homeopathy that is expected to spur the $2 billion industry of homeopathy.
Homeopathy has been gaining popularity as a treatment for conditions ranging from chronic pain to cancer and a number of other illnesses.
But in recent years it has been seen as a potentially dangerous, unscientific alternative to mainstream medicine, as well as an attempt to avoid paying the cost of standard treatments, like expensive antibiotics.
Homeopathy has also been controversial, with some critics arguing that it is unsafe and dangerous.
New Zealand has one of the lowest rates of homeopathic diagnosis in the world, and is home to some of the largest concentrations of homeopaths in the country.
According to the paper published on Monday, homeopathy can have a wide range of effects and is likely to become a $1.3 billion industry in the next five years, with the UK’s homeopathic hospital and pharmacy, and a few other US states.
The paper said the number of home-grown products in the US would grow to more than 4,000 by 2020, and the market in Europe would increase to around 10,000 products.
Homeopathic products will account for 40 per cent of the market, with Europe and the US accounting for more than half of the world market, the paper said.
Homeopathic medicines have been around for decades, but the market for homeopathic medicines in the developed world is now expected to be worth more than $2bn by 2020.