Global herbal medicine market was valued at $112.6 billion in 2019 with a CAGR of 5.9% from 2020 to 2026

Global Herbal Medicines Market Report 2021 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2027 (Based on 2020 COVID-19 Worldwide Spread)

Herbal medicine is made from botanicals, plants that are used to treat diseases and to maintain health. Herbal medicine is sold as tablets, capsules, powders, extracts, syrup, teas, and fresh or dried plants. Herbal medicine is used as a primary source of healthcare in many countries.

Increasing demand for herbal medicine is driving the demand of the market. According to the World Health Organization (WHO), around four billion people rely on herbal medicinal products as a primary source of healthcare, which represents 50% of the world's population. In the United States, around 40% of the adult population use herbal medicine as a source of healthcare. in 2017, the sales of herbal dietary supplements in the United States has increased by 7.7%. The consumption of herbal medicine in Canada, Australia, and Germany and France is growing rapidly. In India and China, herbal medicine accounts for about 50% of the total herbal medicine consumption. In Africa, around 80% of the rural population use herbal-based medicines for their healthcare. In Nigeria, Ghana, Mali, and Zambia, herbal medicine accounts for 60% of treatment for children with high fever resulting from malaria and other diseases.

Note – In order to provide more accurate market forecast, all our reports will be updated before delivery by considering the impact of COVID-19.

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Top key players @ Tsumura, Schwabe, Weleda, Blackmores, Arkopharma, SIDO MUNCUL, Arizona Natural, Dabur, Bio-Botanica, Potter’s, Zand, Nature Herbs, Tong Ren Tang, Tianjin Zhongxin Pharmaceutical Group Co., Ltd., and Himalaya

Tablets & Capsules, Powders, Extracts, and Othersis the type segment of the market scope. By application, the market is divided into Digestive Disorders, Respiratory Disorders, Blood Disorders, and Others. By distribution channel, the market is further divided into Hospitals and Retail Pharmacies, and E-commerce.The report covers valueof the global market by type, application and distribution channel.

Based on type, powders showed significant growth in 2019, owing to the increasing adoption of herbal medicine, the partnership between companies to expand the presence of herbal medicine at the global scale, and commercialization of Certified Herbal Medicine.

North America, Europe, AsiaPacific, South America, and Middle East & Africa are taken into consideration at the global herbal medicinevalue figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involvingGCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America has shown significant growth in 2019, due to the increased funding for research on herbal medicine, increasing adoption of herbal medicine in the North American region, commercialization of new herbal medicine, and extensive R&D for herbal medicine.

TABLE OF CONTENT:
1 Report Overview
2 Global Growth Trends
3 Market Share by Key Players
4 Breakdown Data by Type and Application
5 United States
6 Europe
7 China
8 Japan
9 Southeast Asia
10 India
11 Central & South America
12 International Players Profiles
13 Market Forecast 2019-2025
14 Analyst’s Viewpoints/Conclusions
15 Appendix

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This release was published on openPR.