According to 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.
Herbal Medicine Market provides detailed outlook along with in-depth analysis of industry’s gross margin, consumption value, cost structure, and sale price. The leading companies of the Herbal Medicine Market, manufacturers, and distributors are profiled in the report along with the latest Industry development current and future trends. The Herbal Medicine Market 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.
Herbal medicine, or phytomedicine is a medicinal system using a plant or animal materials such as seeds, roots, leaves, bark, flowers, oils etc. for medicinal purposes. Herbalism has emerged from a long historical tradition of using nature for curing diseases.
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Key Players of Global Herbal Medicine Market
- Himalaya Drug Company
- Sheng Chang Pharmaceutical Company
- China Herbs Company
- Nutraceutical International Corporation
- Ricola AG
- Zandu Pharmaceutical Works Ltd
- Hamdard laboratories
- Patanjali Ayurved Ltd.
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.
Herbal Medicine Market Regional Analysis
Asia Pacific countries such as China followed by India accounts for the maximum market share due to its tradition of using the herbal system. Europe is the second largest market due to large disposable income and growing demand for natural therapies and remedies. The European market will be led by France followed by Germany. Asia pacific region will be the fastest region because of which will be led by China and India. The Middle East and Africa market will be led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa is expected to be a laggard due to poor economic and political conditions.
The report for Global Herbal medicine Market by Market Research Future comprises of extensive primary research along with the detail analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different market segments and regions.
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Detailed Table of Contents:
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions & Limitations
1.3 Market Structure:
2 Research Methodology
2.1 Research Process:
2.2 Primary Research
2.3 Secondary Research:
5 Global Herbal Medicine Market, By System
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