Herbal Medicine Market Share, Dynamics, Research Overview, Size Estimation, Trend Analysis and Outlook by 2027

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Herbal medicine market overview

The Global herbal medicine market is likely to acquire a size of over USD 136,024.26 million at a healthy CAGR of over 5.88% during the forecast period, according to Market Research Future (MRFR).

The global herbal medicine market has witnessed massive growth in recent years. The growth of the herbal medicine market is driven by the growing preference for traditional medicines across the world. Additionally, rising awareness about the benefits of herbal medicines and rising investments in research are also likely to catalyze the growth of the market over the forecast period. On the other hand, factors such as poor standardization of herbal medicines and allergic reactions and slow results are expected to limit the growth of the herbal medicines market during the review period.

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Herbal Medicine Market Segment Analysis

The global herbal medicine market is bifurcated into several segments on the basis of distribution channel, category, source, form, type and region.

Based on the distribution channel, the herbal medicines market is divided into e-commerce and hospital and retail pharmacies.

By category, the global herbal medicine market is fragmented into herbal dietary supplements, herbal beauty products, herbal functional foods, and herbal pharmaceuticals.

According to the source, the herbal medicine market is divided into fruits, whole plants, roots and barks and leaves.

On the basis of form, the global herbal medicines market is divided into syrups, capsules and tablets, powders and extracts.

Based on type, herbal medicine market is fragmented into allium sativum, cinnamomum spp, zingiber officinale, actaea racemose, turmeric longa, vaccinium macrocarpon, cocos nucifera, aloe vera, camellia sinensis, echinacea, and marrubium vulgare.

Herbal Medicine Market Regional Analysis

The global herbal medicine market is studied in five major regions namely North America, South America, Europe, Asia-Pacific, Middle East & Africa.

The European region is expected to account for the largest share of the global herbal medicine market over the forecast period. The growth of the regional market is mainly driven by increasing investments and growing R&D for herbal medicines. In addition, the increasing prevalence of chronic diseases among the growing population is also expected to fuel the growth of the regional herbal medicine market.

The North American region is likely to secure the second position in the global herbal medicine market over the forecast period. The growth of the regional market is driven by the growing awareness of the benefits of herbal medicines and the increase in the cases of chronic diseases.

The Asia-Pacific region is expected to register the highest CAGR of the global herbal medicine market during the review period. The growth of the regional market is driven by the growing awareness about the benefits of herbal medicines. Lower drug cost and chemical free nature are likely to be major contributors to the market growth in the region. In addition, the implementation of supportive policies by governments and increasing investments in the region are also likely to catalyze the growth of the regional herbal medicine market.

Herbal Medicine Market Competitive Analysis

The global herbal medicines market has an extremely competitive landscape. The players in the global market are adopting several new strategies such as partnerships, mergers and acquisitions to strengthen their footprint in the global market. The list of major players in the global herbal medicines market includes Dr. Willmar Schwabe India Pvt. Ltd., Blackmores, Dasherb Corp., ZeinPharma Germany GmbH, Hishimo Pharmaceuticals, Bayer AG, Himalaya Global Holdings Ltd, Arizona Natural Products, Venus Pharma GmbH, Schaper & Brümmer, BEOVITA, Arkopharma and many others.

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RECENT DEVELOPMENTS

AGAPE ATP CORPORATION, has happily announced the company’s entry into the traditional and complementary medicine and personalized nutritional medicine market by launching the latest business portfolio. AGAPE ATP CORPORATION, an emerging and growing wellness company, has launched a new line of products providing evidence-based complementary medical therapies for the management of chronic health conditions. The therapies address the known root causes of chronic health conditions through lifestyle modifications and the correction of dietary/nutritional deficiencies.

a pharmaceutical producer and distributor in China, Universe Pharmaceuticals INC, announced the signing of a strategic cooperation agreement and associated subsidiary agreements with a Japanese company engaged in the research, development, manufacture and distribution of pharmaceuticals and Medical Kampo, Kitanihon Pharmaceutical Co., Ltd.

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