Herbal Medicinal Products Market Set to Witness Explosive Growth by 2028

 

Herbal Medicinal Products Market

Market Overview 

The global herbal medicinal products market is set to have a lucrative run at a healthy growth rate over the forecast period (2017-2023), reveals Market Research Future (MRFR). 

Growth Boosters and Key Restraints 

Herbal medicines products are considered to be dietary supplements or nutraceuticals with health claims in regions like North America, pre-approved by the Food and Drug Administration (FDA). FDA regulations for such products are less strict compared to traditional medicines. Therefore, favorable regulations for herbals medicinal products, mainly in North America, benefits the global herbal medicines market. Expanding geriatric population could be another factor boosting the herbal medicinal products market growth.  The elderly population in countries like Mexico and Brazil is equal to the countries in Europe and North America. This population makes extensive use of dietary supplements, a factor that will drive the sale of herbal medicinal products in the coming years. 

In recent years, countries in western Europe have noted a considerable surge in the prescription of homeopathic medications owing to the mounting awareness and adoption of this type of treatment. Fewer side effects, safety during pregnancy, and higher effectiveness are some of the instrumental factors stimulating market growth. 

Other than homeopathy, Western Europe also observes a high sale of herbal products, which works in favor of the herbal medicinal products market. In Eastern Europe, herbal medicines have experienced a remarkable increase in the past couple of years. In Russia, a vast measure of population opts for traditional medicines as a basic option for treatment. More number of people that suffer from infertility are going for traditional treatment option, despite the advancement of contemporary medicines.

Get Sample Report: https://www.marketresearchfuture.com/sample_request/4787

Key Companies 

The key companies within the worldwide global herbal medicinal products market are Young Living Essential Oils LC (U.S.), TSUMURA & CO. (Japan), Ricola AG (Switzerland), ARKOPHARMA Laboratories, Company Ltd. (France), Sanofi-Aventis Healthcare Pty Ltd. (Australia), Nature's Answer, Inc. (U.S.), Bio-Botanica Inc. (U.S.), among others.

Market Segmentation 

The worldwide herbal medicinal products market has been segmented on the basis of product type, medicine function, and form.

Herbal medicinal products market, depending on the product type, includes traditional Chinese medicines, homeopathic medicines, aromatherapy medicines, ayurvedic medicines, and others. Between these, ayurvedic medicines cover the largest share, with Chinese medicines covering the second-biggest share. The chief reason for the surge in ayurvedic medicines sale is the easier approval for ayurvedic formulations by the regulatory authorities.

With context to medicine function, the herbal medicinal products market is considered for general wellness, cardiovascular health, gut & digestive health, cognitive health, and others. Among these, the gut and digestive health is the most profitable segment owing to the rising consumption of herbal medicines for illnesses such as dyspepsia and indigestion. On the other hand, herbal medicines for cardiovascular health is now gaining immense popularity among consumers based on the surging incidences of hypertension.

Form-wise, the herbal medicinal products market covers powder, syrups, ointments, oils, capsules, tablets, and others. The tablet form prevails as the leading segment with capsules being the second-leading segment. The table form of herbal medicinal products notes strong demand owing to dose accuracy. On top of that, tablets are handy, which gives them an advantage over other formulations.

Regional Outlook 

The worldwide herbal medicinal products market is spread across the main regions of Europe, North America, Asia Pacific, and the rest of the world (RoW). 

Europe is the leading herbal medicinal products market, trailed by Asia Pacific. Europe is counted among the top consumers of herbal medicinal products backed by the mounting awareness regarding the benefits of consuming herbal remedies. Moreover, strong government support with regards to new product launches results in the superlative performance of the regional market. Regulatory authorities, including British herbal medicine association and European herbal & traditional medicine practitioners association are also striving to promote the use of herbal medicines, which works wonders for the market.

Asia Pacific has secured the second leading position in the global market as a result of the rising consumer awareness among consumers. Also, high demand for herbal medicinal products such as drugs, skin care products, and dietary supplements in India and China is possibly the chief driving factors behind the market growth. Surge in research and development (R&D) activities for the advancement in herbal medicines could uplift the market position in the years to come.

North America is counted among the strongest contenders in the herbal medicinal products market, with predictions of it retaining its growth rate over the review period. Favorable government support towards clinical research for improving herbal medicine coupled with the hike in consumer demand for natural variants, could benefit the regional market in the subsequent years.

Industry Update 

June 2019

DRDO has developed an herbal drug called Lukoskin that treats leukoderma. This ointment is made of a number of herbal ingredients with properties like anti-blister, anti-irritation, anti-septic, copper supplementing and wound healing properties. The oral formulation helps keep track of emergence of any new spots. 

Access Report Details @ https://www.marketresearchfuture.com/reports/herbal-medicinal-products-market-4787

Related Report: Dysmenorrhea Treatment Market Research Report- Global Forecast to 2027             

 

Syringe and Needle Market Research Report - Global Forecast to 2027          

 

Global Medical Robotics Market Research Report- Forecast To 2027               

 

Global Neuromodulation Devices Market Research Report- Forecast To 2027             

 

Global Erythropoietin Drug Market Research Report- Forecast To 2027         

 

About US:

Market Research Future (MRFR) enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact us:

Market Research Future (part of Wantstats Research and Media Private Limited),

99 Hudson Street,5Th Floor, New York,

New York 10013

 

Comments

Post a Comment

Popular posts from this blog

Dry Age-Related Macular Degeneration Market Size, Share, Application Analysis, Regional Outlook, Growth Trends, Competitive Strategies

Image
  Dry Age-Related Macular Degeneration Market This degenerative eye disease is caused by the thinning of the macula and interferes with a clear vision in the elderly. The macula is part of the retina that facilitates clear vision; when this part of the eye deteriorates, it causes blurred or distorted vision. But this does not mean that the individual will lose his or her sight, only the central vision is affected by this degenerative disease, and the peripheral vision remains intact. Vision loss is slow and can be corrected using innovative ocular treatments. It has been estimated that the Dry Age-Related Macular Degeneration Market has seen a jump due to increased research in drugs, rising amount of COVID-19 cases among the old and age-restricted chronic diseases.   The dry age-related macular degeneration AMD market is expected to cross USD 15,351.07 million by 2027 at a CAGR of 8.20% during the forecast period   List of Key Companies Covered...
Read more

Cardiopulmonary Resuscitation Market: Innovations and Trends Shaping Life-Saving Techniques

  Introduction Cardiopulmonary Resuscitation (CPR) stands as a vital life-saving technique that has transformed emergency healthcare. As the cornerstone of effective response to cardiac arrest, the CPR market has been witnessing remarkable advancements driven by technology, research, and innovation. This article delves into the evolving landscape of the Cardiopulmonary Resuscitation Market, highlighting its trends, innovations, and impact on global healthcare. CPR: A Lifeline in Critical Moments Cardiopulmonary resuscitation, commonly referred to as CPR, is a crucial technique employed to sustain blood circulation and provide oxygen to the brain during cardiac arrest. It involves chest compressions and, in some cases, rescue breaths to maintain oxygen levels until professional medical assistance arrives. CPR significantly increases the chances of survival when performed promptly and correctly. Market Growth and Trends The CPR market has been experiencing steady growth due to incre...
Read more

Pain Management Devices Market Set To Exhibit Strong Growth, Valuable Research Factors and Industry Forecast to 2030

Image
  Pain Management Devices Market – Overview The Pain Management Devices Market can anticipate expansion at a rate of 7.12% from 2020 to 2030, believes MRFR (Market Research Future). Progress in technology and better research capabilities have led to the development of devices that can control pain with limited use of drugs. Focused Market reports connected to the healthcare sector among others lately have been made available by Market Research Future which publishes a report on this sector. The development of pain management devices has been useful to control pain in a wide range of ailments. The level of relief from pain that is experienced, is one of the major driving factors for the industry, as patients who use such devices are prone to chronic pain daily. Cancer patients and the geriatric population are among the major user segments for the pain management devices as medication alone may not be sufficient to provide pain relief in their situation. The industry is antici...
Read more