The homoeopathy market in India today is worth around Rs. 630 crores, growing at a rate of 25 per cent per year and is expected to cross Rs. 1000 crore mark by 2010. The growth rate over the last few years, is twice the growth rate of the Indian pharma industry. It is estimated that in India over 100 million people are using homoeopathy drugs.
Homoeopathy is globally growing at a rate of 7to 15 per cent annually. More and more people are becoming aware about the adverse effects of chemical drugs and the escalating costs of conventional healthcare. Homoeopathy can be potentially very effective in treating different types of diseases such as stress related diseases, drug-induced and environment related problems that are afflicting the people in the 21st century. As a result, people are tuning to systems of medicine like homoeopathy, which has no side effects, Dr Mukesh Batra, CMD of Dr. Batra's Positive Health Clinic Limited (DBPHCL), Mumbai told Pharmabiz.
Homoeopathy is particularly popular in France, England, Germany, Greece, India, Pakistan, Brazil, Mexico and South Africa. Approximately 40 per cent of the French public have used homeopathic medicine and about 20 per cent of German physicians utilize homeopathic medication in their practice. In UK, homoeopathy is part of the National Health Services and the royal family patronises homoeopathy.
Talking about South India, he said, AP Government had been very encouraging in promoting healthcare, including homeopathic treatment, but it's not the same case with Governments of Tamil Nadu and Karnataka.
There are various challenges in front of this sector, primarily acceptance of homeopathic medicine as a mainstream medicine itself is a big challenge. Other being, acceptance by Government, professionals (doctors) and patients. Government should promote use of homeopathic medication in hospitals and it should be brought under insurance coverage. One needs to realize that the treatment is less expensive and is accessible by all, and doesn't involves any surgical procedure. Government should make efforts that the treatment spreads even to villages.
Dr Batra added, corporates should also include expenses rising from homeopathic treatment in the medical allowances of employees. Today, corporates take count of only expenses that are met through allopathic treatment and do not accept homoeopathy. But, things are changing slowly, for instance, Union Bank of India (Mumbai) tied up with Dr Batra's Clinic to access homeopathic treatment for all of its 1000 employees.
Doctors should also trust and choose homoeopathy to serve a large number of people who are suffering with a variety of ailments, especially, the chronic diseases. Homoeopathy is effective in the cases of skin rashes, diabetes, anxiety and distress etc. It can be effective in dealing with cases of kidney stones too.
Predicting the trends in the sector, Dr Batra said, lot of R & D investment is going take place in manufacturing homeopathic drugs and many big MNCs will enter the segment as market grows gradually.
Dr Batra has been practicing homoeopathy since 1974 and set up DBPHCL at Mumbai in 1982. He started India's first Online Consultation Clinic in 1977. He is a member of the Governing Body of the Central Council for Research in homoeopathy, Ministry of Health, Government of India.
He has been appointed as Non-Official Member of the Governing Body of the National Institute of homoeopathy, Kolkata, for a term of three years ending 2005. He is professor emeritus at the College of homoeopathy, USA and Hahnemann College of homoeopathy, UK. Both institutions have conferred Honorary Fellowships upon him, making him the first Asian to receive the honour. In 2001, he launched Dr Batra's Positive Health Foundation (DBPHF) to provide funds for the treatment of needy and scholarships for deserving candidates of homoeopathy.