Herbal Medicinal Products Market Analysis Insights:
Herbal medicinal products market contain herbal medicines from one or more herbal substances in combination with other active ingredients. In a recent research report by Market Research Community, the Herbal Medicinal Products market is expected to surpass USD 383.14 Billion by the year 2030, from USD 151.00 Billion in 2021.
The market is projected to grow at a significant pace reaching a CAGR of approximately 10.9%, over the forecast period of 2022–2030, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
Over the past ten years, there has been an increase in the use of alternative antibiotic medications, such as herbal products. Herbal products are gaining appeal among patients as well as healthcare experts.
WHO estimates that between 10 and 50% of people in affluent nations frequently consume herbal products. The primary benefit of taking herbal remedies is that they offer greater immunity than synthetic medications. The only accessible and economical therapeutic option in underdeveloped nations like China, Japan, India, Vietnam, South Africa, and Bangladesh is occasionally herbal medicine. Customers typically choose these medications for painful ailments such as joint pain, rheumatic diseases, stiffness, cough and cold, nervousness, and gastrointestinal illness. The continued consumption of herbal supplements is anticipated to present significant potential for the market.
Top Key Players of the Herbal Medicinal Products Market:
Moderna, Inc., PERSONALIS INC., GENOCEA BIOSCIENCES, INC, CureVac AG, CELLDEX THERAPEUTICS, BIONTECH SE, Advaxis, Inc, Agenus Inc, Immatics Biotechnologies GmbH, Gritstone Oncology, NantKwest, Inc., bioMérieux SA, Bayer AG, Pfizer Inc., GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd, Merck & Co., Inc.
The demand for natural ingredients used in the personal care and beauty products segment is growing simultaneously, and this trend is expected to continue. Following this demand from European nations, Europe is anticipated to make a sizable contribution to market growth in the future. Turmeric is becoming a popular ingredient in the European health products market. It is known for its antioxidant and anti-inflammatory properties, and hence, it is used as a supplement and in medical products to boost the immune & digestive systems and overall health.
Type Covered in This Report Are:
Homeopathic medicines
Aromatherapy products
Ayurvedic medicines
Chinese medicines
Regional Analysis:
North America– (U.S., Canada, Mexico)
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe)
Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific)
Latin America- (Brazil, Argentina, Chile, Rest of Latin America)
Middle East and Africa- (GCC, Turkey, Israel, Rest of MEA)
Europe has the largest cosmetics market in the world and is expected to present good opportunities for new entrants from developing countries in the herbal medicine product market.
The study is consolidated into major segments and further into sub-segments, such as by Product Type (Homeopathic medicines, Aromatherapy products, Ayurvedic medicines, Chinese medicines), Product Form (Capsules/Tablets, Syrups, Oils and Ointment, Powder, Others), Herbal Medicinal Products Market End-use, by distribution channel ( Retail pharmacies, e-commerce, Hospital pharmacies, Others) to forecast the size by value; also includes the analysis of past dynamics from 2016 – 2021, considering 2021 as the base year.
What will you get in the Herbal Medicinal Products Market report?
· Worldwide analysis on five major regions.
· Thorough examination of economic conditions, growth strategies, restraints, tactics, collaborations, profit margin, technological studies and innovations of top industry drivers.
· Detail study of Herbal Medicinal Products Market size, growth margin, revenue share, growth opportunities, new launches and upcoming challenges.
· Beneficial research including market dynamics, tendencies, capacity, recovery, cumulative impact and overall scenario of Herbal Medicinal Products Market.
· Accurate framework covering historical and forecasted statistics for the period (2022-2030).
· Quantitative and qualitative analysis of Herbal Medicinal Products Market by types, applications, region and end-user.
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