Herbal Medicines Comprehensive Study by

About Herbal Medicines

Herbal medicines are a type of dietary supplements which is extracted from various parts of the plant including leaves, bark, seeds, berries, and roots. These medicines are available in various dosage forms such as tablets, extracts, dried plants and others. According to WHO estimates, almost 80% of the population of many Asian and African countries depend on traditional medicine for primary health care. In July 2017, the Chinese Ministry of Science and Technology invested USD 12.5 million for development of herbal treatments for the treatment of cancer and HIV/AIDS. Of late, the increasing number of patients seeking alternate and herbal therapy is growing exponentially

AttributesDetailsStudy Period2018-2030Base Year2023UnitValue (USD Million)CAGR11.2%

The key manufacturers are targeting the innovations of the products with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market. Analyst at AMA Research estimates that Chinese and United States Players will contribute the maximum growth to Global Herbal Medicines market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.Tsumura (Japan), Rottapharm Madaus GmbH (Italy), Weleda (Switzerland), Blackmores (Australia), Arkopharma (France), SIDO MUNCUL (Indonesia), Arizona Natural (United States), Dabur (India), Herbal Africa (South Africa), Nature's Answer (United States), Bio-Botanica (United States), Zand (United States), Nature Herbs (India), Imperial Ginseng (United States), Yunnan Baiyao (China), Tongrentang (China), Guangzhou Pharma (China) and Haiyao (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are TASLY (China), Kunming Pharma (China), Sanjiu (China) and JZJT (China).

Segmentation Overview

AMA Research has segmented the market of Global Herbal Medicines market by Type (Medicinal Part, Medicine Function and Active Ingredient), Application (Western Herbalism, Traditional Chinese Medicine and Others) and Region.On the basis of geography, the market of Herbal Medicines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Herbal Medicines market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.

Influencing Trend:

The Growth in Preference of Consumers towards traditional medicines

Market Growth Drivers:

Increasing Popularity of Herbal Products in Developed Economies, Soaring Geriatric Population Across the World and Increasing Preference for Cost-Effective Treatment in Emerging Nations

Challenges:

Lack of Standardization in Products

Restraints:

Lack of Availability of Various Herbal Medicinal Products and Limited Investment in Research and Development in Developing Economies

Opportunities:

Recent Product Enhancement and Increasing in R&D Investment in Healthcare Sector Among Developed Countries

Market Leaders and their expansionary development strategies

In November 2023, Gaia Herbs, a company known for its organic herbal remedies, partnered with Regen Network. This collaboration focuses on developing a blockchain-based system for ensuring the transparency and sustainability of their herbal ingredients.In October 2023, Hyland's, a well-known homeopathic medicine brand, launched a new line of children's sleep aids formulated with natural ingredients like chamomile and valerian root. This highlights the ongoing focus on natural sleep solutions.

Key Target Audience

Suppliers, Government and Private R&D Institutes, Technology Providers, Dealers, Consumers, Herbal Medicine Manufacturers or Processors, Wholesalers, Retailers and Others

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