Herbal Medicine Potenial Effect on Industries in Upcoming Years and Forecast 2024

Worldwide Market Reports recently released “Global Herbal Medicine Market 2018 Forecast to 2024” that centers around the latest developing trends and technologies in the Global Herbal Medicine Market having Years of forecast period from 2018 to 2024 and considering Market status study from 2017 to 2024.

Herbal Medicine is an interdisciplinary branch between Herbal Medicine and Ayurveda and it covers all the fields of Herbal Medicine related to Botany, Medicinal Plant Research, Pharmacognosy, Phytochemistry, Phytotherapy, botanical medicines, Ayurveda and Natural chemistry, Agriculture Science, Unani Medicine, Biotechnology and Biochemistry. Herbal Medicine is an open access journal and the main aim of this journal to provide a platform for scientists, researchers in Herbal medicine and Ayurveda fields all over the world to present their new ideas, discuss new strategies, and promote developments in all areas of Herbal Medicine.

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Global Herbal Medicine Market Information by Product Type (Herbal Pharmaceutical, Herbal Dietary Supplements, Herbal Functional Foods & Others), Type of Medicinal Plants (Aconitum ferox, Allium sativum, Andrographis paniculata, Commiphora weightii & Crocus sativus), By Form (Capsules & Tablets, Powder, Syrups and Extracts), By Source (Leaves, Roots & Barks, Whole Plant & Fruit), By Indication (Cardiovascular Disorders, Respiratory Disorders, Digestive Disorders and Hypnotics & Sedatives), By Distribution Channel (Hospital & Retail Pharmacies and E-Commerce), By Region (North America, Europe, Asia Pacific, The Middle East & Africa (MEA) and Latin America) - Forecast to 2024.

Market Snapshot :
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).

The Global Herbal Medicine Market continues to grow on account of the increasing popularity of herbal products in advanced economies. Europe has emerged as a major market for herbal medicines, which also characterizes the growing acceptance of the such products in the West. The outlook towards the herbal medicine industry remains positive for the medium term. The global herbal medicine market is expected to surge at a compound annual growth rate of 5.88% during the review period (2018-2024). Sales of herbal medicines is increasing at a healthy pace owing to consumer inclination towards such products. There is a growing preference for traditional and plant-based medicinal products across the globe.

Market Description:
Market Denomination- USD Mn
Base Year- 2017
Forecast Period- from 2018 to 2024

Report Synopsis:
This report offers a comprehensive assessment of the global herbal medicine market along with a five-year (2018-2024) revenue forecast. The report also includes a thorough discussion on factors impacting the future proposition of the market and its sub-markets. Revenue analysis on the basis of the different herbal medicine product is also available in the report. Various type of medical plants that are used for preparing herbal medicines in mentioned in the report. Further, primary forms of herbal medicine that are currently available has been discussed in the report. Other key pointers include medicine source, indication and distribution channel.

Major Leading Industries Covered;
Bayer AG, Arkopharma, Hishimo Pharmaceuticals, ZeinPharma Germany GmbH, Dasherb Corp, Blackmores, Dr. Willmar Schwabe India Pvt. Ltd., BEOVITA, Schaper & Brummer, Venus Pharma GmbH, Himalaya Global Holdings Ltd, and Arizona Natural Products.

The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.

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This release was published on openPR.