Manufacturers To Benefit From Lucrative Profitable Avenues In Global OTC Herbal and Traditional Medicines Market : Fact.MR

This updated analysis on OTC herbal and traditional medicines predicts the market expansion at 4% CAGR over the decade. This analysis has been performed by skilled analysts at Fact.MR, a market research and competitive intelligence provider. Analysts placed the market at a net worth of around US$ 160 Bn in 2020, and have predicted it to increase 1.5X by the end of 2031.

Prevalence of diseases has increased substantially over the past decade, and subsequently, so has demand for preventive healthcare to combat these diseases before they infect at an advanced stage. Focus on healthcare and medicine has never been this prominent as it is today, and hence, demand for treatment drugs is also significant.

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Key Segments of OTC Herbal and Traditional Medicines Industry Survey

By Function:
OTC Herbal and Traditional Medicines for Immune Health
OTC Herbal and Traditional Medicines for Digestive Health
OTC Herbal and Traditional Medicines for Heart Health
OTC Herbal and Traditional Medicines for Nutrition
OTC Herbal and Traditional Medicines for Bone & Joint Health
OTC Herbal and Traditional Medicines for General Well-being
OTC Herbal and Traditional Medicines for Weight Loss
Other Functions

By OTC Channel:
Sales of OTC Herbal and Traditional Medicines via Pharmacies
Drug Store Sales of OTC Herbal and Traditional Medicines
Modern Trade Sales of OTC Herbal and Traditional Medicines
Online Sales of OTC Herbal and Traditional Medicines
Other OTC Formats

By Dosage:
Liquid OTC Herbal and Traditional Medicines
Capsule OTC Herbal and Traditional Medicines
Tablet OTC Herbal and Traditional Medicines
Powder OTC Herbal and Traditional Medicines

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Key Takeaways from Market Study

In 2020, the OTC herbal and traditional medicines market was worth US$ 160 Bn.
Demand for OTC herbal and traditional medicines is expected to rise at a steady CAGR of 4% through 2031.
Japan is expected to be the least lucrative market for OTC herbal and traditional medicines.
APAC is anticipated to be the most dominant market in terms of demand and revenue as well.
Increasing awareness among consumers, rising popularity of herbal and traditional medicines, and growing focus on preventive healthcare are some of the major factors driving demand for OTC herbal and traditional medicines.

Competitive Landscape

Some of the key manufacturers of OTC herbal and traditional medicines, such as Amway Corporation, Herbalife International, The Himalayan Drug Company, Naturex SA, Blackmores Limited, Nutraceutical International Corporation, The Nature's Bounty Co., Bio-Botanica Inc., The Bioforce Group, and Ricola AG., have been profiled in this market study.

In November 2020, Yiling Pharmaceutical launched its Lianhua Qingwen Capsules in the Philippines market. These capsules are of a traditional Chinese medicine produced by Yiling Pharmaceutical. The medicine is supposed to be helpful in curing respiratory diseases, including cold and flu.

Clonmel Healthcare, a pharmaceutical company from Ireland, recently announced the launch of its new Medithyme Cough Syrup. It is a medicinal herb product comprising of thyme liquid extract. Since the product is organic, it is suitable for vegans as well as gluten-intolerant people.

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This release was published on openPR.