Market Analysis: Global Herbal Medicinal Products Market
Global Herbal Medicinal Products Market accounted to USD 9.21 billion in 2018 to a projected value of USD 17.7 billion by 2026 growing at a CAGR of 8.5% during the forecast period of 2019 to 2026. The upcoming market report contains data for historic years 2015, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
Market Definition: Global Herbal Medicinal Products Market
Products that are obtained from plants comprising active ingredients one or more herbal preparations, herbal substances, and herbal combinations, called as Herbal medicine. Herbal medicinal products are available in the form of powdered plant material and disinfected extract from lively ingredients insulated from plant materials. Herbal medicinal products are also derived from the part of plant either fragmented, cut of algae, plant, lichen and fungi.
According to the World Health Organization (WHO), 2017, Ayurvedic medicine is the sum of the knowledge, skills, and practices which are mainly based on the theories, beliefs and experience to different cultures used to maintain health in terms of prevention, diagnosis, and treatment of physical, and mental illness.
- Growing consumer awareness regarding preventive health care measures is going toact as a catalyst for the market.
- Fewer side effects as compared to allopathic medicines will drive the market.
- Research initiatives and standardization in herbal medicines are less.
- Lack of legal and regulatory frame work that causes patent problems are the factors that can hamper the growth of the herbal medicinal products market.
Segmentation: Global Herbal Medicinal Products Market
By Product Type
- Homeopathic medicines
- Ayurvedic medicines
- Chinese medicines
- Aromatherapy products
- Fruits & Vegetables
- Food & Beverages
- Personal Care
By Formulation Type
- Capsules & Tablets
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- General Wellness
- Cardiovascular Health
- Gut & Digestive Health
- Cognitive Health
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
Key Developments in the Market:
- On 24th November 2017, CANVAS, an Australian beauty brand expanded its business in Singapore and officially appointed Maiko Pte Ltd to handle its sales, marketing and brand-building activities. It will help CANVAS to build a stronger product portfolio.
- On 22nd September 2017, Dabur India, a leading traditional medicine manufacturer tied up with Amazon to launch ayurveda e-marketplace. Consumers will gain easy access to traditional medicines and the growth of the market will increase.
Global herbal medicinal products market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of herbal medicinal products market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the herbal medicinal products market are Himalaya Drug Company (India), Schwabe (Germany), Madaus (Spain), Arkopharman (France), Blackmores (Australia), TSUMURA & CO. (Japan), Sheng Chang Pharmaceutical Company (Taiwan), Ricola (Switzerland), Zandu Pharmaceutical Works Ltd (India), Hamdard (India), Dabur (India), Patanjali Ayurved. (India) CHNPI Corp. (U.S.), Nutramarks, Inc (U.S.), Nature’s Answer. (U.S.), Bio-Botanica Inc. (U.S.), Young Living Essential Oils LC (U.S.), and few among others.
Research Methodology: Global Herbal Medicinal Products Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted 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, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global herbal medicinal products market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)