Herbal Medicine Market Worth to cross USD 1500 BN By 2027
Posted On May 14, 2021
The Global Herbal Medicine Market value is expected to grow by an impressive 6% of CAGR during the forecast period of 2021 to 2027. The market can grow to USD 1500 BN by 2027 as per the report by Value Market Research. The increased adoption of natural therapies in primary health care and the use of herbs viewed as an integral part of the culture in specific communities are the major driving forces for market growth. There is a high demand for herbal medicines as they originate from nature, assist in green therapy, and show fewer adverse side effects. Continued research on herbal medicines to improve their effectiveness will attract more users and increase the market share. Raising consumer awareness about herbal drugs and the easy availability of these medicines will benefit market growth. Insurance plans and managed care organizations beginning to offer reimbursement for alternative treatments will be a market booster. The main barrier to this market is the skepticism among the global population regarding the use of herbal medicines as they are clinically untested by western medical standards.
Herbal medicine is the study and use of plants as sources of drugs to treat diseases or improve overall well-being. Herbal medicines are dietary supplements and are sold as tablets, capsules, powders, teas, extracts, and fresh or dried plants. Herbal medicines don't undergo the same testing, clinical trials, manufacturing, and labeling standards and regulations as prescription drugs. These medicines are not required to be standardized yet to ensure batch-to-batch consistency. As these medicines can interact with conventional medicines or have strong effects, the patient must use them under a doctor's supervision. Herbal medicines reduce inflammation and treat the common cold, depression, flu, migraines, and boost immunity and energy levels.
The detailed research study "Global Herbal Medicine Market Report By Distribution Channel (Hospital & Retail Pharmacies, E-Commerce), By Category (Herbal Pharmaceuticals, Herbal Functional Foods, Herbal Beauty Products, Herbal Dietary Supplements) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" assists in understanding the market dynamics with qualitative as well as quantitative data.
On the basis of distribution channel the market is segmented into Hospital & Retail Pharmacies, E-Commerce. By category the herbal medicine market is categorised as Herbal Pharmaceuticals, Herbal Functional Foods, Herbal Beauty Products, Herbal Dietary Supplements. The regions covered in the market study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. This section throws light on the geographical spread of revenue and/or volume of the herbal medicine market.
The Report Segments Global Herbal Medicine Market -
By Distribution Channel
- Hospital & Retail Pharmacies
- Herbal Pharmaceuticals
- Herbal Functional Foods
- Herbal Beauty Products
- Herbal Dietary Supplements
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Players Profiled In the Report:
Arkopharma, BEOVITA, Bayer AG, Schaper & Brümmer, Hishimo Pharmaceuticals, Venus Pharma GmbH, Arizona Natural Products, Himalaya Global Holdings Ltd, ZeinPharma Germany GmbH, Dasherb Corp., Blackmores, and Dr. Willmar Schwabe India Pvt. Ltd.
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