Despite the enormous technological advancement, the humans still have not tapped into full potential of natural resources. The nature earth has numerous secrets that still need to be unveiled, and this becomes true when we dig into use of ancient plants and herbs in the world of medical science. Ancient herbs were used to treat several diseases along with ensuring complete health of humans. Drugs derived from plants, to treat any disease are called herbal products. Herbal medicines are extremely convenient and safe to use, hence are available at ease over the counters in majority of pharmacy stores. In order to get approval for the herbal medicines, the regulatory process is much smoother compared to allopathic drugs. Rising demand for herbal medicines from various parts of the planet is helping the global herbal medicine market grow rampantly.
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The COVID-19 pandemic proved fruitful for the global herbal medicine market as it witnessed surge in the amount of revenue generated. In absence of any effective solution for the life-threatening SARS-CoV-2, herbal medicines were used extensively as a potential cure and also to stay safe from it.
One of the biggest factor that has been driving the growth of the global herbal medicine market is increasing adoption of alternative medicines. Along with this, easier availability of ingredients needed to make herbal medicines also helps the market grow. Meanwhile, as majority of medicines are sold without any approval from regulatory agencies, concerns regarding duplicity and side effects are expected to hinder the growth of the global herbal medicine market.
On the other hand, the global herbal medicine market is forecasted to see tremendous growth over the period of next couple of years due to increase in the amount of investments diverted towards development of newer drugs.
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Key Takeaways – Global Herbal Medicine Market
- On the basis of product form, extracts segment will be minting money at the quickest rate for this market as they are easily absorbed in the human body.
- Rising influence of social media, people are looking towards history and culture for answers to their various needs. Ancient Indian Ayurveda is one source of knowledge about herbal medicines, its properties and uses.
- The region of Asia Pacific is expected to generate revenue at the highest speed for the global herbal medicine market. After witnessing higher adoption of herbal medicines in the west, countries like China and India that happen to be the home of ancient herbs are now rampantly promoting it. This will help the market grow over the long run.
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Competitors: Global Herbal Medicine Market:
- Arizona Natural Products
- Bio Botanica, Inc.
- Blackmores Limited
- Gaia Herbs
- Herb Pharm
- Nature’s Bounty
- NutraMarks, Inc
- Potter’s Herbals
- The Clorox Company (Rainbow Light)
- Other Market Participants
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Global Herbal Medicine Market
By Type
- Prescription
- Over-the Counter Drugs
By Product Type
- Personal Care Products
- Single Extracts
- Extract Blends
- Oil Extracts
- Organic Products
- Others
- Nutritional Supplements
- Specialty Products
By Application
- Allergy
- Brain Health
- Cough, Cold and Flu
- Chronic fatigue
- Immune Health,
- Asthma, Joint Health
- Skin Infections
- Digestive System
- Cancer and kidney diseases
- Premenstrual Syndrome
- Others
By Product Form
- Tablets
- Capsules
- Powders
- Teas
- Extracts
- Fresh & Dried Plants
- Liquid
By Distribution Channel
- Online
- Offline
By Source
- Fresh & Dried Leaves
- Root & Barks
- Whole Plants
- Fruits
By Ingredient Type
- Acacia
- Burdock
- Holy Basil
- Ginger
- Clove
- Cinnamon
- Echinacea
- Ginseng
- Ginkgo
- Wintergreen
- Brahmi
- Macrocarpon
- Senna
- Turmeric
- Eucalyptus
- Vaccinum
- Marrubium Vulgar
- Maca
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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