1. Market Research
  2. > Pharmaceutical
  3. > OTC Market Trends
Herbal Medicine Market Size, Forecast And Trend Analysis, 2014 - 2024

Herbal Medicine Market Size, Forecast And Trend Analysis, 2014 - 2024

  • September 2017
  • 70 pages
  • ID: 5583962
  • Format: PDF
  • By Hexa Research

Summary

Table of Contents

Herbal Medicine Market Size and Forecast, By Product (Tablets & Capsules, Powders, Extracts), By Indication (Digestive Disorders, Respiratory Disorders, Blood Disorders), And Trend Analysis, 2014 - 2024

The global herbal medicine market is expected to reach USD 117.02 billion by 2024, driven by rising popularity of herbal therapeutics compared to conventional drugs. The market for herbal medicines and remedies is anticipated to record profitable growth due to their cost-effectiveness as compared to allopathic ones.

In 2016, Europe was the largest market for traditional medicines, contributing to 40.8% of the share and is expected to retain its leadership during the forecast period due to shifting from conventional drugs to herbal products. Fewer side effects and low toxicity compared to allopathy products are expected to provide a competitive advantage over other medicines in the market. Additionally, ready acceptance of herbal products owing to its benefits is the key factor for market growth and is expected to play a significant role in future.

Increased preference of complementary and alternative medicine (CAM) among others has resulted in the growth of herbal medicines in Asia Pacific. Asia Pacific is expected to record the fastest CAGR of 6.8% over the forecast period. Furthermore, Europe is anticipated to generate maximum revenue over the forecast period due to increasing awareness created by various associations such as Association for Natural Medicine in Europe (AIME).

Concerning product segment, tablets & capsules are expected to witness the fastest growth owing to increasing acceptance of tablets over extracts and powders. Furthermore, properties such as high dose accuracy essential for optimum therapeutic effect will, in turn, promote the herbalism market growth. The extracts segment is expected to grow at a lucrative rate as they show an immediate therapeutic effect on administration.

For instance, in geriatric patients, extracts and other liquid dosage forms are preferred for administration as tablets show delayed therapeutic effect. Furthermore, extracts provide high potency as they possess only the active ingredients and no fillers which are present in tablets & capsules.

The rigorous focus on developing better extraction and purification techniques by herbal medicine manufacturers is expected to fuel the market. Furthermore, respective governments are also introducing several strategies to promote the uptake of herbal medicine market. For instance, in July 2017, the Chinese Ministry of Science and Technology invested USD 12.5 million for development of herbal treatments for the treatment of cancer and HIV/AIDS.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Spirulina Market by Type, Application, and Drug Formulation : Global Opportunity Analysis and Industry Forecast, 2019-2026

Spirulina Market by Type, Application, and Drug Formulation : Global Opportunity Analysis and Industry Forecast, 2019-2026

  • $ 3840
  • September 2019

Spirulina Market by Type (Arthrospira Platensis and Arthrospira Maxima), Application (Nutraceuticals, Cosmetics, Food & Beverages, Animal Feed, and Others), and Drug Formulation (Powder, Tablet & Capsule, ...

Consumer Health in South Korea

Consumer Health in South Korea

  • $ 2650
  • October 2019

Whilst consumer health continued to see retail current value growth in 2019, this was lower than in the previous three years due to increasing maturity. OTC is still heavily restricted compared with in ...

Choline Chloride Market to 2027 - Global Analysis and Forecasts by By End-Use Industry (Feed Industry, Human Nutrition, Oil and Gas Industry, Others, and By Geography

Choline Chloride Market to 2027 - Global Analysis and Forecasts by By End-Use Industry (Feed Industry, Human Nutrition, Oil and Gas Industry, Others, and By Geography

  • $ 4550
  • October 2019

The global choline chloride market accounted for US$ 662.5 Mn in 2018 and is expected to grow at a CAGR of 5.0% during the forecast period 2019 - 2027, to account to US$ 1,019.5 Mn by 2027. Choline chloride ...

Consumer Health in Romania $ 2650 October 2019

Consumer Health in Ireland $ 2650 October 2019

Consumer Health in Qatar $ 2100 October 2019

Global Vitamins Industry $ 5600 October 2019


ref:plp2017

Reportlinker.com © Copyright 2019. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on