Herbal Medicinal Products Market- No chemical, high safety by Leading Players: Sanofi S.A., Arkopharma Laboratories, Himalaya Global Holdings Ltd., Integria Healthcare, Young Living Essential Oils

Herbal medicinal products market is gaining significant traction due to inclination of consumers from conventional medicines to traditional medicines worldwide. For instance, in November 2017, Organic Aromas, a leading manufacturer of aromatherapy partnered with McGill University in Montreal, Canada to improve and educate on aromatherapy. The aim of this unique projects was to promote correct use of essential oils, develop superior understanding of aromatherapy, and identify and formulate the ‘best practices’ for the aromatherapy industry.

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Furthermore, in November 2017, Organic Aromas launched a ground breaking organic pure essential oils with forty different blends, which has greater aromatherapy effectiveness. Also introduced its first wireless rechargeable Nebulizing Diffuser aromatherapy device, which is sleek and effective with potential therapeutic benefits. Therefore, launched of such products is expected to drive growth of the herbal medicinal products market. However, lack of awareness regarding herbal therapeutics among people and un-clear laws to use herbal ingredients for medicinal formulations may hinder the market growth.

In October 2017, Tamil Nadu (India) government distributed a traditional siddha herbal concoction free of cost to cure dengue. An epidemic of dengue reported around 10,032 cases in the Tamil Nadu, to treat this epidemic, the ministry of AYUSH decided to distribute herbal concoction – nilavembu kudineer free cost across the Tamil Nadu state. This herbal medicine aims to treat and prevent dengue. Moreover, in November 2017, the Departments of Council of Scientific & Industrial Research (CSIR), Ayush Ministry and Health Ministry decided to promote herbal medicines by creating awareness to control the diseases. The CSIR, Ayush and Health ministry would launched a campaign to encourage diabetic patients to use ayurvedic drugs. Furthermore, in August, 2017, the Central Council for Research in Ayurvedic Sciences (CCRAS), announced ayurvedic based drugs, AYUSH 82 for type II diabetes and AYUSH SG for rheumatoid arthritis in India.

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In November 2017, Australian beauty brand CANVAS expanded its presence in Singapore with the Maiko Pte Ltd to, a distributer, which will help with sales, marketing and brand-building activities of CANVAS and its aromatherapy products. With this expansion CANVAS will be able to strengthen its product portfolio in aromatherapy and enter into the global herbal medicinal products market.

In August 2017, the National Health Service England announced that the homeopathic medicines would no longer require prescription in the UK. Furthermore, in November 2017, according to the Le Figaro report, France is the biggest users of homeopathic remedies. More than a third French people use homeopathic treatments. As per the Le Figaro report, global company, Boiron is a leading manufacturer of homeopathic medicines, which earns 55% of its revenue in France alone. This in turn is anticipated to boost growth of the herbal medicinal products market over the forecast period.

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Some of the key players in the global herbal medicinal products market include Sanofi S.A., Arkopharma Laboratories, Himalaya Global Holdings Ltd., Integria Healthcare, Young Living Essential Oils, MOUNTAIN ROSE HERBS, Boiron USA, Nutraceutical Corporation, TSUMURA & CO. and Blackmores.

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