NEW
YORK, July 8, 2024 /PRNewswire/ -- The
global herbal medicine market size is estimated to grow
by USD 44.75 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 6.78% during the forecast period. Boosts
immune system is driving market growth, with a trend
towards inclination toward herbal and natural products.
However, inadequate knowledge poses a challenge. Key
market players include Arizona Natural Products, Arkopharma
Laboratories, Beijing Tongrentang Co Ltd., Bio Botanica Inc.,
Blackmores Ltd., Charak Pharma Pvt. Ltd., Dabur India Ltd., Dasherb
Corp., Dr. Willmar Schwabe GmbH and Co. KG, Emami Ltd, Hamdard
Laboratories, Himalaya Global Holdings Ltd., Hishimo
Pharmaceuticals Pvt. Ltd., Imperial Ginseng Products Ltd., Ricola
Group AG, Schaper and Brummer GmbH and Co. KG, Sido Muncul, Tsumura
and Co., Weleda Group, and ZeinPharma Germany GmbH.
Get a detailed analysis on regions, market
segments, customer landscape, and companies - Click for the
snapshot of this report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Capsules and
tablets, Powders, Extracts, Syrups, and Others), Distribution
Channel (Hospitals and retail pharmacies and E-commerce), and
Geography (Asia, North America, Europe, and Rest of World
(ROW))
|
Region
Covered
|
Asia, North America,
Europe, and Rest of World (ROW)
|
Key companies
profiled
|
Arizona Natural
Products, Arkopharma Laboratories, Beijing Tongrentang Co Ltd., Bio
Botanica Inc., Blackmores Ltd., Charak Pharma Pvt. Ltd., Dabur
India Ltd., Dasherb Corp., Dr. Willmar Schwabe GmbH and Co. KG,
Emami Ltd, Hamdard Laboratories, Himalaya Global Holdings Ltd.,
Hishimo Pharmaceuticals Pvt. Ltd., Imperial Ginseng Products Ltd.,
Ricola Group AG, Schaper and Brummer GmbH and Co. KG, Sido Muncul,
Tsumura and Co., Weleda Group, and ZeinPharma Germany
GmbH
|
Key Market Trends Fueling Growth
The herbal medicine market is experiencing significant growth
due to increasing consumer preference towards natural health
solutions. With an aging population seeking to maintain their
health and activity levels, and younger generations focusing on
preventative care, the demand for herbal medicines and health
supplements is on the rise. The COVID-19 pandemic has further
fueled this trend, as people look for ways to boost their immunity.
As of December 6, 2021, there have
been over 266 million confirmed COVID-19 cases and 5.71 million
related deaths worldwide. With restrictions on gym and sports club
visits, vendors have turned to online sales and discounts on
prominent herbal medicines to meet consumer demand. These factors
are expected to continue driving the growth of the global herbal
medicine market.
The herbal medicine market is experiencing significant growth
due to increasing consumer demand for natural remedies for various
health conditions. Key trends include the use of herbal treatments
for chronic diseases such as diabetes, asthma, cancer, and
end-stage kidney disorders. Herbal medicines are also popular for
treating common ailments like fever, cough, cold, headache,
lower-degree burns, and digestive issues. Product forms include
liquids & gels, tablets & capsules, and powders. Herbal
pharmaceuticals and nutraceuticals are gaining popularity over
chemically produced medicines. Marrubium Vulgare, Vaccinium
Macrocarpon, Echinacea, Curcuma Longa, Camellia Sinensis, Actaea
Racemose, Aloe Vera, and Zingiber Officinale are popular herbs used
in herbal medicines. E-commerce platforms are driving sales in the
herbal medicine market, making organic medicines easily accessible
for self-medication. Herbal treatments offer immunity boosting
benefits and are a viable alternative to allopathic medications for
many. The market for herbal treatments is expected to continue
growing as consumers seek natural solutions for medicinal issues
and addiction recovery.
Discover 360° analysis of this market. For
complete information, schedule your consultation- Book
Here!
Market Challenges
- The herbal medicine market has experienced substantial growth
over the last three decades, with over 80% of the global population
relying on herbal remedies for some aspect of their healthcare.
While many herbal medications have shown promising results, with
proven efficacy for various health conditions, a significant number
remain untested. This lack of regulation and understanding poses
safety concerns, as potential adverse reactions, contraindications,
and interactions with conventional medications and functional foods
are not well-documented. To ensure public health and safety,
regulatory bodies must implement stringent measures, including
rigorous testing and quality control, to encourage safe and
responsible use of herbal treatments. This increased focus on
safety and regulation will drive the growth of the herbal medicine
market.
- The herbal medicine market is experiencing significant growth
due to increasing consumer awareness about natural healing and the
challenges posed by chronic diseases. Allopathic medications and
chemically produced medicines have limitations, particularly for
managing chronic conditions and boosting immunity. Herbal
treatments offer a viable alternative, with Marrubium Vulgare,
Vaccinium Macrocarpon, Echinacea, Curcuma Longa, Camellia Sinensis,
Actaea Racemose, Aloe Vera, Zingiber Officinale, Cocos Nucifera,
Cinnamomum Spp, Allium Sativum, and various leaves, roots &
barks, fruits, plants, and herbs, providing healing capabilities
for medical conditions like Psoriasis, Burns, Osteoarthritis, and
more. Herbal pharmaceuticals in oral forms address issues such as
constipation, gastritis, and offer cholesterol-controlling power
through flax seed and Omega-3 fatty acids. Botanicals like
Chamomile, Peppermint oil, and ginger help with digestive purposes,
addressing stomach problems, indigestion, and nausea. The market
faces challenges due to self-medication and the need for
standardization, but the potential for herbal medicines in managing
chronic illnesses is immense.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This herbal medicine market report extensively covers market
segmentation by
- Product
- 1.1 Capsules and tablets
- 1.2 Powders
- 1.3 Extracts
- 1.4 Syrups
- 1.5 Others
- Distribution Channel
- 2.1 Hospitals and retail pharmacies
- 2.2 E-commerce
- Geography
- 3.1 Asia
- 3.2 North America
- 3.3 Europe
- 3.4 Rest of World (ROW)
1.1 Capsules and tablets- The herbal medicine
market primarily consists of tablets and capsules. Tablets, which
are the most common type, are created by compressing powdered herbs
into a hard, smooth-coated pill that dissolves in the digestive
tract. Tablets come in various shapes and sizes, including round,
oblong, and disc, with some featuring scored lines for easy
division. Caplets, an oblong type of pill, offer easier swallowing.
Capsules, on the other hand, protect the herbal content in an outer
shell that breaks down in the digestive tract, releasing the active
components for absorption. Both tablet and capsule production
involves adding binders and other additives to ensure the
medication's stability and improve taste, texture, and appearance.
The market for herbal medicines in the form of tablets and capsules
is expected to expand due to their convenience, affordability, and
effectiveness.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
The herbal medicine market is experiencing significant growth
due to the increasing awareness and preference for natural
remedies, particularly for chronic diseases. Herbal treatments
offer an alternative to chemically produced medicines, providing
relief for various health issues. Marrubium Vulgare (Coughwort),
Vaccinium Macrocarpon (Cranberries), Echinacea, Curcuma Longa
(Turmeric), Camellia Sinensis (Green Tea), Actaea Racemose (Black
Cohosh), Aloe Vera, Zingiber Officinale (Ginger), Cocos Nucifera
(Coconut), and Cinnamomum Spp (Cinnamon) are popular herbs used for
self-medication. Herbal pharmaceuticals derived from leaves, roots,
and whole plants are effective for digestive purposes, including
stomach problems, indigestion, and nausea. Herbal treatments are
also used for chronic illnesses such as diabetes, asthma, cancer,
and end-stage kidney disorders. Herbal medicines offer a natural
and holistic approach to healthcare, providing immunity support and
overall wellness.
Market Research Overview
The herbal medicine market encompasses a wide range of natural
remedies derived from plants and herbs, offering effective
solutions for various medical conditions and diseases. Unlike
Allopathic Medications, herbal treatments are chemically produced,
instead relying on the healing capabilities of Marrubium Vulgare,
Vaccinium Macrocarpon, Echinacea, Curcuma Longa, Camellia Sinensis,
Actaea Racemose, Aloe Vera, Zingiber Officinale, Cocos Nucifera,
Cinnamomum Spp, Allium Sativum, and numerous other plants and
herbs. These natural remedies are used for self-medication to boost
immunity, manage chronic diseases, and promote healthy living.
Herbal Pharmaceuticals offer treatments for medical conditions such
as Psoriasis, Burns, Osteoarthritis, Constipation, Gastritis, and
various diseases including Diabetes, Asthma, Cancer, End-stage
kidney disorders, and more. Herbal treatments come in various
forms, including leaves, roots & barks, whole plants, fruits,
and extracts. They are available as oral forms like liquid &
gel, tablets & capsules, and powder. Herbal medicines are also
available in pharmaceutical and nutraceutical forms, catering to
medicinal issues like Fever, Cough, Cold, Headache, and digestive
issues. Some popular herbs include Chamomile, Flax seed, and
Peppermint oil, known for their cholesterol-controlling power,
Omega-3 fatty acids, and digestive purposes, respectively. With the
rise of e-commerce platforms, organic medicines are increasingly
accessible, making herbal treatments an affordable and convenient
alternative for many.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Capsules And Tablets
- Powders
- Extracts
- Syrups
- Others
- Distribution Channel
-
- Hospitals And Retail Pharmacies
- E-commerce
- Geography
-
- Asia
- North America
- Europe
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/herbal-medicine-market-size-is-set-to-grow-by-usd-44-75-billion-from-2024-2028--boosts-immune-system-to-boost-the-market-growth-technavio-302189633.html
SOURCE Technavio