The Power of Herbal Medicine in Healthcare Market

The herbal medicine market size is expected to be valued at USD 215.4 billion in 2024 and reach USD USD 305.3 billion by 2029, growing at a CAGR of 7.22% from 2024 to 2029.

Herbal medicines, derived from plants or plant parts like leaves, flowers, seeds, roots, and stems, have been utilized across diverse cultures for centuries due to their therapeutic properties. They can be prepared in various forms, such as teas, extracts, tinctures, capsules, and powders, and are frequently employed to address various health conditions. They are sometimes considered a more natural option compared to conventional medications.

Global Herbal Medicine Market Report Scope:

• Market Size (2029): USD USD 305.3 billion
• Market Size (2024): USD USD 215.4 billion
• CAGR (2024 to 2029): 7.22%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: By Type, Source, Form and Region
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: MATSUMURA & CO., Dr. Willmar Schwabe India Pvt. Ltd., Blackmores Limited, NATURE'S ANSWER, Arkopharma, Arizona Natural Products, Bio-Botanica Inc., Herbal Africa, Sidomuncul, and Nature Herbs. Are playing a dominant role in the global herbal medicine market.

The increasing consumer preferences shifting towards natural and herbal products contribute primarily to the global market growth. Most young people and older adults seek natural goods such as herbal medications and health supplements to avoid adverse reactions related to chemical entities, which boosts the market revenue. The healthcare spending patterns have shifted, with more senior citizens opting for herbal medications to sustain their active lifestyles. The increasing trend of self-medication within the general population is expected to benefit the herbal medicines market. The growing awareness regarding the advantages of herbal medicines spreads, and more people are opting to use them for common health issues such as fever, headache, cough, cold, minor burns, digestive problems, and similar ailments is fueling the global market share growth. According to the World Health Organization (WHO), around 80% of the world population consults traditional health professionals for plant-based medicines.
The increasing demand for natural medicines and growing funding for developing traditional drugs will create growth opportunities for the industry in the coming years. The rising prevalence of various types of diseases is expected to support the industry's growth rate during the forecast period. These products' relatively low cost and ability to create high value for customers are key factors driving the demand for herbal medicine and leading to the expansion of the market value. Herbal treatments, serving as an alternative to conventional medications, are utilized in herbal therapies for symptom relief, ailment prevention or treatment, energy enhancement, relaxation, and weight management, all augmenting the expansion of market size. The presence of a historical record of minimal side effects or the absence of adverse reactions to herbal medicines is accelerating their worldwide adoption.
The herbal medicine industry often needs more standardized regulations, raising concerns regarding product quality, safety, and efficacy, which hampers market growth. There is often limited scientific evidence supporting the effectiveness and safety of herbal medicines for various conditions. Herbal medicines can interact with conventional medications, causing adverse effects or reducing the effectiveness of prescribed drugs, limiting the market adoption rate. Allergic reactions to specific herbs can occur, ranging from mild to severe, and a lack of consumer awareness regarding the risks and benefits of herbal medicines can lead to inappropriate use or reliance on unproven remedies.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/herbal-medicine-market

Key Insights from The Report:

• Based on type, the herbal pharmaceuticals segment led the market and accounted for the largest share of the global market in 2023.
• Based on source, leaves segment the teleradiology segment captured highest share of the global market in 2023.
• Based on Form, the extracts segment dominated the market in 2023.
• Europe dominated the herbal medicine market in 2023. North america accounted for second-highest share of the global market in 2023 and on the other hand, the Asia-Pacific region is estimated to grow at the fastest CAGR during the forecast period.
• MATSUMURA & CO., Dr. Willmar Schwabe India Pvt. Ltd., Blackmores Limited, NATURE'S ANSWER, Arkopharma, Arizona Natural Products, Bio-Botanica Inc., Herbal Africa, Sidomuncul, and Nature Herbs are dominated the herbal medicine market.

SEGMENTATION INCLUDED IN THIS REPORT:

By Type:
• Herbal Functional Foods
• Herbal Dietary Supplements
• Herbal Beauty Products
• Herbal Pharmaceuticals

By Source:
• Roots and barks
• Fruits
• Whole plants
• Leaves
• Others

By Form:
• Tablets
• Capsules
• Extracts
• Syrups
• Powders
• Others

By Region:
• North America
• Europe
• Asia Pacific
• Latin America

Browse Regional Reports:

Europe Herbal Medicine Market Research Report - Segmented By Type, Source and Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/europe-herbal-medicine-market
Latin America Herbal Medicine Market Research Report - Segmented By Type, Source, Form, and Country (Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis, Size, Share, Growth, Trends, & Forecast (2024 to 2029) - https://www.marketdataforecast.com/market-reports/latin-america-herbal-medicine-market
Middle East & Africa Herbal Medicine Market Research Report - Segmented By Type, Source, Form, and Country (KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan and Rest of MEA) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast from 2023 to 2028 - https://www.marketdataforecast.com/market-reports/middle-east-africa-herbal-medicine-market
U.S. Herbal Medicine Market Research Report - Segmented By Type, Source, Form, and Country - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast from 2024 to 2029 -
https://www.marketdataforecast.com/market-reports/us-herbal-medicine-market

TABLE OF CONTENTS:

1. Introduction
1.1. Market Definition
1.2. Study Deliverables
1.3. Base Currency, Base Year and Forecast Periods
1.4. General Study Assumptions
2. Research Methodology
2.1. Introduction
2.2. Research Phases
2.2.1. Secondary Research
2.2.2. Primary Research
2.2.3. Econometric Modelling
2.2.4. Expert Validation
2.3. Analysis Design
2.4. Study Timeline
3. Overview
3.1. Executive Summary
3.2. Key Inferences
3.3. New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1. Market Drivers
4.2. Market Restraints
4.3. Key Challenges
4.4. Current Opportunities in the Market
5. Market Segmentation
5.1. By Source
5.1.1. Roots and barks
5.1.2. Fruits
5.1.3. Whole plants
5.1.4. Leaves
5.1.5. Others
5.1.6. Y-o-Y Growth Analysis, By Source
5.1.7. Market Attractiveness Analysis, By Source
5.1.8. Market Share Analysis, By Source
5.2. By Form
5.2.1. Tablets
5.2.2. Capsules
5.2.3. Extracts
5.2.4. Syrups
5.2.5. Powders
5.2.6. Others
5.2.7. Y-o-Y Growth Analysis, By Form
5.2.8. Market Attractiveness Analysis, By Form
5.2.9. Market Share Analysis, By Form
5.3. By Source
5.3.1. Roots and barks
5.3.2. Fruits
5.3.3. Whole plants
5.3.4. Leaves
5.3.5. Others
5.3.6. Y-o-Y Growth Analysis, By Source
5.3.7. Market Attractiveness Analysis, By Source
5.3.8. Market Share Analysis, By Source
6. Geographical Analysis
6.1. Introduction
6.1.1. Regional Trends
6.1.2. Impact Analysis
6.1.3. Y-o-Y Growth Analysis
6.1.4. Market Attractiveness Analysis
6.1.5. Market Share Analysis
6.2. North America
6.2.1. Introduction
6.2.2. US
6.2.3. Canada
6.3. Europe
6.3.1. Introduction
6.3.2. UK
6.3.3. France
6.3.4. Spain
6.3.5. Germany
6.3.6. Italy
6.4. Asia-Pacific
6.4.1. Introduction
6.4.2. India
6.4.3. China
6.4.4. Japan
6.4.5. South Korea
6.4.6. Australia
6.5. Latin America
6.5.1. Introduction
6.5.2. Brazil
6.5.3. Argentina
6.5.4. Mexico
6.6. Middle East & Africa
6.6.1. Introduction
6.6.2. Middle East
6.6.3. Africa
7. Strategic Analysis
7.1. PESTLE analysis
7.1.1. Political
7.1.2. Economic
7.1.3. Social
7.1.4. Technological
7.1.5. Legal
7.1.6. Environmental
7.2. Porter's Five analysis
7.2.1. Bargaining Power of Suppliers
7.2.2. Bargaining Power of Consumers
7.2.3. Threat of New Entrants
7.2.4. Threat of Substitute Products and Services
7.2.5. Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1. TSUMURA & CO.
8.1.1. Overview
8.1.2. Product Analysis
8.1.3. Strategic Evaluation and Operations
8.1.4. Financial analysis
8.1.5. Legal issues
8.1.6. Recent Developments
8.1.7. SWOT analysis
8.1.8. Analyst View
8.2. Dr. Willmar Schwabe India Pvt. Ltd.
8.3. Blackmores Limited
8.4. NATURE'S ANSWER
8.5. Arkopharma
8.6. Arizona Natural Products
8.7. Bio-Botanica Inc.
8.8. Herbal Africa
8.9. Sidomuncul
8.10. Nature Herbs
9. Competitive Landscape
9.1. Market share analysis
9.2. Merger and Acquisition Analysis
9.3. Agreements, Collaborations and Joint Ventures
9.4. New Product Launches
10. Market Outlook and Investment Opportunities
11. Appendix
11.1. List of Tables
11.2. List of Figures

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