Herbal & Medicinal products are offered as a better alternative over the conventional allopathic medicines due to lesser ill-effects associated with the consumption. Moreover, rising popularity towards ayurvedic and unani medicines is predictable to elevate the growth of the market owing to non-toxic effects. Additionally, the demand from the pharmaceuticals industry for green label products has intensified the application of Herbal & Medicinal preparations.
Increasing health awareness among the consumers is adding fuel to the growth of the global herbal & medicinal products market. Moreover, rising demand for cost-effective medication for illnesses such as flu, digestive problems, and renal disorders is likely to improve the global herbal & medicinal products market during the review period. However, un-clear laws for the use of herbal ingredient for the medicinal preparation may hinder the Herbal & Medicinal products market.
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Latest Industry Updates:
Jan 2018 Allowing customers to purchase the business’ natural herbal and food supplements online, Medical Herbalist, Patrick Murphy has launched his online shop.
Jan 2018 The Food Safety and Technology Research Centre under the Department of Applied Biology and Chemical Technology of The Hong Kong Polytechnic University (PolyU) has developed a new method for rapid authentication ancient herbal medicines.
Dec 2017 JGG Enterprises Inc. have been lined from marketing Intellux and other dietary supplements in Iowa that appealed to provide health benefits without scientific evidence.
Dec 2017 The Nigerian Institute of Medical Research (NIMR), in conjunction with the Nigerian Council of Physicians of Natural Medicine (NCPNM), held a three- day training workshop on steps to commercialize Nigeria’s Herbal & Medicinal products.
Herbal & Medicinal products manufacturers across various regions are focusing on new product launch and R & D to penetrate the global market and to meet the growing demand for the product in various forms and functionality. Rising demand in herbal supplements and changing lifestyle among the consumers propels the growth of herbal & medicinal products market.
The key players profiled in the global herbal & medicinal products market are Nature’s Answer, Inc. (U.S.), ARKOPHARMA Laboratories, Company Ltd. (France), TSUMURA & CO. (Japan), Bio-Botanica Inc. (U.S.), Sanofi-Aventis Healthcare Pty Ltd. (Australia), Young Living Essential Oils LC (U.S.), and Ricola AG (Switzerland) among many others.
The global herbal & medicinal products market has been divided into type, function, form and region.
On The Basis Of Type: Traditional Chinese Medicines, Homeopathic Medicines, Aromatherapy Medicines, Ayurvedic Medicines, Others
On The Basis Of Function: General Wellness, Cardiovascular Health, Gut & Digestive Health, Cognitive Health, Others
On The Basis Of Form: Powder, Syrups, Ointments, Oils, Capsules, Tablets, Others
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Europe holds major market share in the global herbal & medicinal products market followed by Asia Pacific. Europe has been accounted for a higher consumption of Herbal & Medicinal products owing to increasing awareness about the benefits of consuming herbal remedies. Furthermore, increasing demand & growing awareness for herbal & medicinal products such as dietary supplements, drugs, and skin care products in countries like India and China are likely to boost the growth of the Herbal & Medicinal products market over the forecast period. Moreover, continuous R&D activities in the herbal medicines is likely to boost the growth of the herbal & medicinal products market.
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