China Traditional Chinese Medicine Market – Industry Trends and Forecast to 2030

China Traditional Chinese Medicine Market Analysis and Size

According to the National Medical Products Administration, TCM will treat 91.64% of cases in Hubei and 89.10% in Wuhan by March 15, 2020. Nationally, 92.41% of Chinese medicine patients are receiving treatment. During the COVID-19, searches for Chinese medicine increased significantly. While the media continues to promote TCM, many people are skeptical of the statistics and the link between TCM and COVID-19 treatment based on a statistical approach and pathology.

Data Bridge Market Research analyses that the traditional Chinese medicine market which was USD 19491.21 million by 2022, is expected to reach USD 47915.88 million by 2030, at a CAGR of 11.9% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

China Traditional Chinese Medicine Market Scope and Segmentation      

Market Definition

Traditional Chinese medicine is an alternative medical practise derived from Chinese traditional medicine. TCM attempts to restore the body's natural opposing forces of yin and yang, which can block qi and cause disease. Acupuncture, diet, herbal therapy, meditation, physical exercise, and massage are all part of traditional Chinese medicine. Traditional Chinese medicine, such as dietary therapy, acupuncture, and massage, aid in the treatment of illnesses and the maintenance of health. Herbal medicines and acupuncture are frequently used in conjunction with conventional therapy to improve the Childhood Autism Rating Scale (CARS) score of children with ASD. Over thousands of years, traditional Chinese medicine (TCM) has evolved. TCM practitioners address health issues through various psychological and/or physical approaches (such as acupuncture and tai chi) as well as herbal products.

China Traditional Chinese Medicine Market Dynamics

Drivers

• Rising demand from developing economies

There has been an increase in demand for low-cost traditional Chinese medicines in Asia-Pacific and East Asian emerging economies, due to increased demand from the local drug manufacturing industry. Infrastructure initiatives such as the Belt and Road Initiative and overseas traditional Chinese medicine centres are increasing the manufacturing capacity of the 3,000 traditional Chinese medicine processing enterprises that are currently in operation.

• Off the Label Drug Usage for ASD and ADHD Cases

A favorable regulatory environment could boost the growth of the traditional Chinese medicine market. For instance, in South Korea and Japan, Ukgansangajinpibanha (UGSJB), an approved prescribed herbal medicine for nervousness, insomnia, night crying, and malnutrition, has been used to treat angry, sensitive, nervous, and unsettled children with ASD. In a social isolation model, another candidate, Gyejitang, prevents behavioral abnormalities and improves neuroplasticity signaling.

Opportunities

• Growing popularity of Chinese herbal decoction pieces and medicine formula granules

Chinese herbal decoction pieces and TCM formula granules are becoming increasingly popular. TCM decoction pieces are primarily processed Chinese herbs. It employs decoction technology, such as ultra-fine pulverization, to process raw materials (for instance, herbs, insects, shells, dried plants) based on Chinese medicine theories and processing methods, which can then be taken directly as a pharmaceutical formula or further processed into Chinese patent medicine products. Pieces of Chinese decoction can be used directly in clinical treatment. The advancement of modernized decoction technology has resulted in rapid growth. The TCM formula granule has grown steadily over the last ten years and will continue to grow in the future.

Restraints/Challenges

• Disputes about Safety and Efficiency

The lack of specific guidelines for the manufacturing and approval of traditional Chinese medicines discourages R&D initiatives involving novel formulations in CNS diseases to change behavioral aspects. Furthermore, clinical evaluation of the pharmacokinetics and dynamics of herbal medications is not well established due to the diversity of herbal medicines and their formulations. Under the current regulatory framework, if a new drug application (NDA) fails, the herbal extract and API also fail, even if it is not related to or caused by excipients.

This traditional Chinese medicine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the traditional Chinese medicine market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Traditional Chinese Medicine Market

The global outbreak of COVID-19 has resulted in shutdowns in the first half of 2020. As the focus has primarily been on COVID-19 patients, the majority of developed countries have postponed non-essential medical procedures. The impact on drugs was minimal because tablets are self-administered at home. However, new patient enrollment has been limited. Along with that, there has been a debate about the safety of Chinese medicines, which has slowed the overall growth of the traditional Chinese medicine market.

Recent Developments

• In March 2020, PuraPharm International (H.K.) Ltd. expanded its distribution network in mainland China intending to increase sales of anti-epidemic Chinese Medicine granules. This initiative assisted the company in increasing revenue by providing product access to a large number of consumers via a broad distribution network.

China Traditional Chinese Medicine Market Scope

The traditional Chinese medicine market is segmented on the basis of therapy type, application, end user, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Therapy Type

• Acupuncture
• Cupping Therapy
• Herbal Medicine
• Aroma Therapy
• Compounding Therapy
• Magneto Therapy

 Application

• Osteoarthritis
• Cold and Flus
• Stress
• Muscle Spasms
• Chronic Fatigue Syndrome
• Tension Headache
• Menstrual Pain
• Insomnia
• Infertility in Women
• Irregular Menstruation
• Sexual Dysfunction in Men
• Cough
• Allergies
• Menopause
• Cardiovascular Disease
• Respiratory Infections
• Diabetes
• Asthma
• Eczema
• Constipation
• Weight Loss
• Cancer Treatment
• HIV Support
• Epilepsy
• Irritable Bowel Syndrome
• Dementia
• Others

End User

• Clinics
• Home Healthcare
• Hospitals

 Distribution Channel

• Direct Tender
• Retail Sales
• Pharmacies

Competitive Landscape and Traditional Chinese Medicine Market Share Analysis

The traditional Chinese medicine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to traditional Chinese medicine market.

Some of the major players operating in the traditional Chinese medicine market are:

• China Traditional Chinese Medicine Holdings Co. Limited (Hong Kong)
• China SXT Pharmaceuticals, Inc. (China)
• Merro Pharmaceutical Co., Ltd (China)
• PuraPharm International (H.K.) Ltd. (China)
• Zhangzhou Pien Tze Huang Pharmaceutical Co. Ltd (China)
• Tasly Holding Group (China)
• Zhengzhou Ruilong Pharmaceutical Co. Ltd. (China)
• Yunnan Baiyao (China), Impression Jumpcan (China)
• Guangzhou Pharmaceutical Holdings Limited (China)
• Kangmei Pharmaceutical Co., Ltd. (China)
• Beijing Tong Ren Tang Chinese Medicine Co. Ltd. (China)
• Xiamen Traditional Chinese Medicine Co., Ltd. (China)
• KPC Pharmaceuticals, Inc (China)

Research Methodology: China Traditional Chinese Medicine Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

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