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Herbal Medicine Market: Opportunity Assessment, Macro-Economic Factors Analysis, Impact Analysis by 2019-2025

  By QY Research          04 Oct 2019   Chemical & Materials        

Herbal Medicine Market: Opportunity Assessment, Macro-Economic Factors Analysis, Impact Analysis by 2019-2025

Considering several growth trajectories of Herbal Medicine market, QYR Consulting has come up with a new research report titled, “Global Herbal Medicine Market Report, History and Forecast 2014-2025,” for the forecast period of 2019-2025. According to the report, the global Herbal Medicine market is anticipated to reach a value of US$ 203.4 Bn by the end of 2025, which was around US$ 120.7 Bn in the year 2018. The market is predicted to expand with a healthy CAGR of 6.7% during the forecasted period. Natural products are always preferred over artificial products and medicine is no option. Increasing awareness and adoption of organic and herbal products is a growing trend noticed across the world. The main reason behind the outstanding growth of Herbal Medicine market is because of fewer side effects associated with these medicines. The global Herbal Medicine market is expected to continue to grow in the near future.

Segmental Analysis

Herbal Medicines are helpful in the detoxification of the body

The global Herbal Medicine market is segmented into two segments such as by product and by application. By product, the market is further segmented into blood circulation medicine, antipyretic medicine, aigestant medicine, detoxification medicine, and others. Antipyretics are ingredients that reduce fever. Various medicinal plants have been used as an antipyretic. Apart from this, Herbal medicines are also used for detoxification of the body.

By application, the global Herbal Medicine market is segmented into traditional Chinese medicine, western herbalism, and others. Traditional Chinese medicine includes acupuncture, herbal medicine, exercise, and cupping therapy. Consumers are spending heavily on Herbal Medicines and growing awareness about western herbalism in Europe and North America is likely to create tremendous opportunities for manufacturers. 

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Regional Coverage

Europe is projected to be at the forefront in the global Herbal Medicine market

Europe is likely to dominate in the global Herbal Medicine market. Various medical associations in Europe are spreading awareness regarding the benefits associated with the consumption of Herbal Medicine. Apart from Europe, Asia Pacific is foreseen to observe the rapid growth during the predicted period owing to rising awareness of these products including drugs, skin care products, and dietary supplements. India is practicing Ayurveda since ages to balance the human body and mind which is helping Asia Pacific to boost the demand for Herbal Medicines in the upcoming years.

Key Players

Madaus, SIDO MUNCUL, Blackmores, Zhongxin, Guangzhou Pharma, Nature’s Answer, Tsumura, Botanica, Imperial Ginseng, Tongrentang, Herbal Africa, Haiyao, Schwabe, Nature Herbs, Arizona Natural, Kunming Pharma, Yunnan Baiyao, Sanjiu, Arkopharma, Potter’s, Taiji, Weleda, TASLY, Zand, Dabur, JZJT, and Bio are some of the key market participants operating in the global Herbal Medicine market.

Market Dynamic

Minimum side effects of Herbal Medicines to support the global market growth

Nowadays, people are preferring Herbal Medicine because of the rising inclination towards Ayurveda and traditional Chinese medicine, which is expected to bode well for the global Herbal Medicine market growth. These traditional medicines are less harmful and have minimum side effects. Additionally, huge investment in research and development activities to bolster the market growth in the years to come.

Cost is always a major concern for any kinds of products, Herbal Medicines are less expensive as compared to allopathy that is anticipated to supplement the global Herbal Medicine market growth. Variety of health benefits and low-cost therapeutic usage of Herbal Medicines to notice heavy demand for these medicines in the upcoming years. Herbal plants contain polyphenolic compounds that are having anti-cancer properties.

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