MarketResearchFuture.com adds “Herbal Medicine Market – 2018 Global Analysis, Growth, Trends and Opportunities Research Report forecasting to 2023” reports to its database.
TRY FREE SAMPLE REPORT @ https://www.marketresearchfuture.com/sample_request/3250 .
Considering all these factors the market for herbal medicine is expected to reach $ 111 billion by the end of 2023, this market is projected to growing at a CAGR of ~ 7.2 % during 2017-2023.
The recent market developments has necessitated a ‘see through’ approach so as to avoid the slippery slope generated by the changing paradigms resulting from the powerful forces of economy, business models, competition and others. “Market Research future” presents its latest report titled “World Herbal Medicine Market –forecast till 2023” to help clear the blur resulting from these developments and to give the reader a clear picture of the possibilities and nuisances lying ahead!
Global Herbal Medicine Market – Regional Analysis:
Europe dominates the market and is expected to retain the share during the forecast period. Associations such as British Herbal Medicine Association and European Herbal & Traditional Medicine Practitioners Association (EHTPA) promotes the use of herbal medicines in European region by organizing various seminars and increase the awareness regarding benefits of using herbal remedies.
Herbal medicine is recognized by the World Health Organization as the second largest therapeutic system in use in the world. While it is most popular in India and South America, over thirty million people in Europe also benefit from its practice. For instance in France, 40% of the population uses homeopathic medicines and around 30% of physicians prescribe them and is also very popular in the U.K.
Global Herbal Medicine Market – Major Players:
Himalaya Drug Company (India), Blackmores (Australia), Tsumura (Japan), Schwabe (Germany), Madaus (Spain), Arkopharman (France), Sheng Chang Pharmaceutical Company (Taiwan), China Herbs Company (U.S.), Nutraceutical International Corporation (U.S.), Ricola AG (Switzerland), Zandu Pharmaceutical Works Ltd (India), Hamdard laboratories (India), Dabur (India), Patanjali Ayurved Ltd (India) are some of the prominent players at the forefront of competition in the Global Herbal Medicine Market and are profiled in MRFR Analysis.
Global Herbal Medicine Market – Market Scenario:
Herbal medicine, is a medicinal system which uses plant or animal materials such as seeds, roots, leaves, bark, flowers, and oils for medicinal purposes. Herbalism has emerged from a long historical tradition of using nature for curing diseases. The herbal medicine market is led by growth in segment of certain herbs such as Soy, Echinacea, aloe vera and horse chestnut. Ginko is another herb that has been driving the market for herbal medicine. Increasing demand of food supplements such as multivitamins, omega-3 acid, is expected to drive the market growth in the future. The legalization of cannabis in some countries such as US will give a boost to the market for herbal medicine. Fish oil, probiotics etc. are some of the emerging animal segment herbal medicines. Additionally, to the biologically-active plant derived herbal products, many other plant bioactive principles had served as lead compounds for the design, synthesis and development of herbal drugs. For instance, aspirin was developed in 1953 through structural modification of salicylic acid, which was identified as the active principle in a number of plants known for their pain relieving properties.
Herbal medicines are formulated in dosage in various forms such as extracts, pastes, gels, oils, tablets & capsules, powders, and others. Tablets & capsules provide dose accuracy compared to other dosage forms.
Product development and marketing are strong strategies for the growth of the market. We predict the MLM strategy for faster market uptake by the herbal medicine players to yield greatest benefit. MLM compensates the sales force for personal sales as well as for the sales of others they recruit, which creates a line of distributors and a hierarchy of multiple levels of compensation
According to the WHO estimates, almost 80% of population of many Asian and African countries depend on traditional medicine for primary health care. The market drivers for the global herbal medicine market are growing aging population, increasing consumer awareness, little or no side effects, supplier innovations, and the release of Current Good Manufacturing Practices (CGMP) for dietary supplements by the FDA. Another factor is escalating prices, tighter health budgets of modern medicinal system which has driven consumers towards the more economical and safer herbal medicine systems.
Global Herbal Medicine Market – Competitive Analysis:
Due to the presence of small players the market is fragmented. Moreover, the use of medicinal plants on a household level has made the industry unorganized and the major stakeholders in the industry include TSUMURA & CO., Dr. Willmar Schwabe India Pvt. Ltd., Blackmores and Others. The major market players are concentrating on improving the quality of herbal products and technological advancements such as improved extraction techniques and equipment deployed to maintain the product quality which will increase the herbal medicines market growth.
May, 2017- Himalaya soon to enter cancer therapy with innovative herbal drugs. Herbal drugs pioneer Himalaya Drug Company is finally ready with its plans to be a serious player in the cancer therapy market worldwide. At Himalaya, researchers have been testing different herbal extracts to find the ones that can accelerate and improve the treatment outcome. Its main focus has been on developing herbal adjutants that can effectively mitigate the side effects of existing first line treatments such as chemo and radio therapies.
Global Herbal Medicine Market – Segments:
The Global Herbal Medicine Market is segmented on the basis of system. Based on the system, the market has been segmented as Ayurveda, Chinese, Western and other. Based on the application, the market has been segmented as pharmaceutical, personal care and other. Based on the source, the market has been segmented as vegetable and animal. The vegetable segment is sub segmented into leaves and fruit, seeds, roots, bark and other. The animal segment is sub segmented into oils, bones, and other.
CHAPTER 1. INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.3 MARKET STRUCTURE:
CHAPTER 2. RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS:
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH:
CHAPTER 3. MARKET DYNAMICS
3.4 MACROECONOMIC INDICATORS
CHAPTER 4. MARKET FACTOR ANALYSIS
4.1 PORTERS FIVE FORCES MODEL
4.2 BARGAINING POWER OF SUPPLIERS
4.3 BARGAINING POWER OF BUYERS
4.4 THREAT OF NEW ENTRANTS
4.5 THREAT OF SUBSTITUTES
4.6 INTENSITY OF RIVALRY
CHAPTER 5. GLOBAL HERBAL MEDICINE MARKET, BY SYSTEM
AVAIL AMAZING DISCOUNT ON REPORT @ https://www.marketresearchfuture.com/check-discount/3250 .
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune – 411028
+1 646 845 9312