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Notoginseng Extract Market - Future Scope Demands and Projected Industry Growths to 2025
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The active ingredients of the notoginseng extract are ginsenoside Rb1, Rg1, Rd, Re, and Rb2. All of this carries a different functionality as a pharmaceutical. This makes notoginseng extract a demanded source is pharmaceutical industry.
Notoginseng Extract Market: Segments:
The notoginseng extract market can be segmented on the basis of form, type, origin and end user.
On the basis of the form of the notoginseng extract, the market is segmented into tablets, oil, concentrated liquid, powder, and paste. Powders, tablet, and concentrated liquid are used for direct consumption by the user. The oil and paste are used for external application by the user.
Based on the type, the notoginseng extract market can be segmented into organic and natural. The organic notoginseng extract is produced with notoginseng roots grown under the strict organic condition and no additives or preservatives are added during the processing of the extract. The natural notoginseng extracts are produced by the natural process and no additives and preservative are added during the production.
On the basis of origin, the notoginseng market can be segmented into Asian notoginseng and American notoginseng. The American notoginseng are found mostly in the Canadian forests and the Asian notoginseng is found in the China and Korea.
Based on the end user the notoginseng extract market is segmented into pharmaceutical market and personal care. The pharmaceutical industries use the notoginseng extract to manufacture blood-related drugs. In personal care industry, skin care products are manufactured with notoginseng extracts.
Notoginseng Extract Market: Region-wise Outlook:
North America is the largest exporter of the notoginseng extract in the global market followed by China and Korea. The market has a global approach as all the regions are showing a growth in the alternative and natural medicinal product market. A high growth is anticipated in the coming years from the pharmaceutical market.
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Notoginseng Extract Market: Drivers and Restraints:
The drivers for notoginseng extract are its product placing which is alternative medicine. Also being isolated from the natural source it makes the notoginseng extract very premium nutraceuticals used for cardiovascular and blood medicines. Pharmaceutical is already a multi-billion dollar market and is projected to reach a trillion by next 10 years. This will drive the notoginseng extract market with a healthy demand.
The restrain that is present in the recent market scenario is regulatory bodies of different countries which have a strong stand against alternative medicine market.
Notoginseng Extract Market: Key Players:
The key global players for the notoginseng extract market are Ningbo Liwah Pharmaceutical Co., Ltd. Santa Cruz Biotechnology, Inc, Carbosynth Limited, Sigma-Aldrich Co. LLC, Wuhan ChemFaces Biochemical Co., Ltd, Shaanxi Huayu Bio-Tech Co., Ltd, Baoji Herbest Bio-Tech Co., Ltd, Huzhou zhanshu bio technology co.,Ltd, FortopChem Technology Limited.
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