Global Herbal Medicine Market Research Report

Global Herbal Medicine Market

The GMI Research forecasts that the Herbal Medicine Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the higher value imparted by them in treating and preventing diseases.

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Introduction of the Herbal Medicine Market

Herbal medicine (also herbalism) uses medicinal plants, which are a basis of traditional medicine. There is limited scientific evidence for the safety and efficacy of plants and does not provide standards for purity or dosage.

Key Players of the Global Herbal Medicine Market:

· Arkopharma

· DABUR

· Bayer AG

· Venus Pharma GmbH

· Arizona Natural Products

· ZeinPharma Germany GmbH

· Hishimo Pharmaceuticals

· Dasherb Corp.

· Blackmores

· Schaper & Brümmer

Herbal Medicine Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

The prominent driver contributing to the growth of the global herbal medicine market is the increasing inclination of individuals towards conventional medicines such as Unani and Ayurveda owing to their more minor side effects and no overdose toxicity. Furthermore, increasing consumer preference towards traditional medicines has contributed significantly to the market expansion. This is due to the no overdose toxicity and more minor side effects than today's world medicine. In addition, In accordance with the WHO, the registration systems for herbal medicines raised from 109 in 2012 to 125 in 2018, paving the way for market growth. Furthermore, approximately 88% of the traditional and complementary medicines were used in 2018, which shows the market's huge growth potential. The mounting role of World Health Organisations on medical plants has significantly fuelled the market growth. The organization is working with over 15 national drug regulatory authorities, like CDSCO, NMRA, AHWP, etc., to accelerate the market growth. Their intensifying usage in conjunction and conventional drugs is paving the way for market growth. However, rising apprehension concerned with the levels of toxicity will curb the herbal medicine market share.

Herbal Medicine Market Segmentation:

Segmentation by Category

· Herbal Pharmaceuticals

· Herbal Functional Foods

· Herbal Dietary Supplements

· Herbal Cosmetic Products

Segmentation by Form

· Tablets & Capsules

· Powders

· Extracts

· Syrups

· Others

Segmentation by Source

· Leaves

· Roots and barks

· Fruits

· Whole plants

· Others

Segmentation by Distribution Channel

· Hospitals & Retail Pharmacies

· E-commerce

Segmentation by Region:

· North America

o United States of America

o Canada

· Asia Pacific

o China

o Japan

o India

o Rest of APAC

· Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

· RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.

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