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Tripterygium wilfordii Extract Market Expected to Expand at a Steady CAGR through 2025
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This root extract is gaining significant acceptance among the arthritis patients due to its herbal nature and increasing consumers trust on herbal medicines. The regulatory aspects of herbal medicines favor the growth of herbal products market in USA, India, China and many European countries. This is expected to fuel the market growth of herbal products including Tripterygium wilfordii in the forecast period.
The trends in use of traditional or herbal medicines is different for different regions, for example manufacturers do not need to register their products with FDA in US or get an approval, these are sold as dietary supplements. For this reason a large number of herbal products are flooding the American market and gaining high acceptance among masses.
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The increased focus in innovation in herbal products in Western Europe is generating supply side demand and countries like Germany and France are spending high amounts on research. This is expected to act as a driving tool for the growth of the herbal product market including Tripterygium wilfordii root extract.
In Indian regulatory system the marketing and sales of herbal products are furthermore liberal, herbal products are established products being used from a long time hence there is no safety study required for established products. This is expected to catalyze the growth of Tripterygium wilfordii root extract market.
The Tripterygium wilfordii root market is of great potential due to the above limited regulations and the high amount of faith in people for the use of herbal products. The unavailability of herbal practitioners and high concentration of the practitioners in certain regions is expected to be a major restrain in Tripterygium wilfordii root market.
The Tripterygium wilfordii powder from Asia Pacific constitutes for a major market share and hence some of the key prayers are also concentrated in these areas. Some of the key global players include; Shaanxi Jintai Biological Engineering Co., Ltd., Xi'an Hao-Xuan Bio-Tech Co., Ltd., Hunan Jin Kang Biotechnology Co., Ltd., Stanford Chemicals Co. Organic Herb Inc. among others.
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