Herbal
Medicine Market Insights and Analysis By Category, By Type of Medicinal, By Form, By Source-
Forecast Till 2032. Market
Research Future (MRFR) projects that the global market for herbal medicines
will expand at a CAGR of 11.2% and reach USD 386.07 billion by the end of the
forecast period of 2023-2032. Herbalism has been practised since antiquity, and
the market for herbal medicines has been expanding steadily over time. Due to
the perception that herbal medications are efficient and free of adverse
effects, their consumer base is expanding tremendously. The market has grown as
a result of the global trend away from synthetic medicine and toward herbal
medicine.
The market's development has been linked to the dependence
on antiquated medical practises. Additionally, herbal medications have proven
to be highly successful in treating a variety of illnesses and are more widely
available in developing countries. Additionally, compared to allopathic and
antibiotic types of medication, herbal
medicinal products are more affordable, which has increased end users'
desire for them. Due to the lack of standardisation and the fact that herbal
medicines are often exempt from drug approval procedures, the market's
expansion may be hampered.
Competitive Landscape
This report centers about the top global herbal medicine
market players
Blackmores
Tsumura
Hamdard Laboratories
Schwabe
Madaus
Himalaya Drug Company
Arkopharma
China Herbs Company
Patanjali Ayurved Ltd
Nutraceutical International
Corporation
Sheng Chang Pharmaceutical Company
Ricola AG
Zandu Pharmaceutical Works Ltd and
Dabur
Segmentation
The global
herbal medicine market players is
segmented on the basis of system,
application, source and region.
On the basis of system, the market has been segmented into Western, Ayurveda,
Chinese, and other.
Based on the application, the market has been segmented into personal
care, pharmaceutical, and other.
By source, the market has been segmented into animal and vegetable. The vegetable segment is further segmented into fruit and leaves,
roots, seeds, bark and other.
The animal segment is
additionally segmented into bones, oils, and other.
The regions included in the market are Asia Pacific,
North America, Europe and the rest of the
world.
Regional Analysis
The regional analysis of the herbal medicine consists of
regions such as Asia Pacific, North America, Europe and the rest of the world. The Asia Pacific region will be a rapidly growing region because of
which will be controlled by China and India. The nations in the Asia Pacific
region such as China which is followed by India is responsible for the bigger
market share owing to its custom of using the herbal system. The European
region is the next major market owing to increased disposable income and rising
demand for natural remedies and therapies. The European market will be led by nations such as France which is
followed by Germany. The Middle East and Africa
market will be directed by the Gulf nations chiefly Saudi Arabia and
UAE. The underprivileged regions of Africa are expected to lag owing to poor
political and economic conditions.
About Market Research Future:
Market Research Future (MRFR) is a
global market research company that takes pride in its services, offering a
complete and accurate analysis with regard to diverse markets and consumers
worldwide. Market Research Future has the distinguished objective of providing
the optimal quality research and granular research to clients. Our market
research studies by products, services, technologies, applications, end users,
and market players for global, regional, and country level market segments,
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