OTC Herbal and Traditional Medicines Market Overview, Trends and Growth Opportunities Forecasted till 2022
The scope of Fact.MR’s report is to analyze the global OTC herbal and traditional medicines market for the forecast period 2017-2022 and provide readers an unbiased and accurate analysis. Medicine manufacturers, stakeholders, and suppliers in the global healthcare sector can benefit from the analysis offered in this report. This report offers a comprehensive analysis, which can be of interest to leading trade magazines and journals pertaining to OTC herbal and traditional medicines.
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10 Predictions for the Global OTC Herbal and Traditional Medicines Market
1. Asia-Pacific excluding Japan (APEJ) will be dominant in the global OTC herbal and traditional medicines market in 2017, and is expected to retain its dominance and exhibit a steady expansion through 2022.
2. By 2022-end, North America will continue to be the second most lucrative market for OTC herbal and traditional medicines.
3. Japan is anticipated to remain the least lucrative market for OTC herbal and traditional medicines.
4. Based on function, Revenues from OTC herbal and traditional medicine sales for maintenance of the people’s digestive health are estimated to account for largest revenues by 2022-end.
5. OTC herbal and traditional medicine sales for bone & joint health, and nutrition are estimated to register parallel expansion at a similar CAGR. However, revenues from nutrition segment is expected to remain comparatively higher than bone & joint health.
6. Modern trade OTC channel is expected to remain preferred among consumers for buying of OTC herbal traditional medicines.
7. OTC herbal and traditional medicine sales in online OTC channel is expected to register the fastest expansion over the forecast period.
8. Pharmacy OTC channel are expected to account for larger market revenue share, however sales are estimated to register a sluggish expansion throughout the forecast period.
9. Based on dosage, powdered form of OTC herbal and traditional medicines are expected to remain preferred among consumers. Revenues from this segment is estimated to exceed US$ 10,000 Mn by 2022-end.
10. Between liquid and tablet form of OTC herbal and traditional medicines, sales of tablet dosage are expected to account for larger revenues, while sales of liquid OTC herbal and traditional medicines are expected to exhibit a comparatively faster expansion through 2022.
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APEJ to Remain Dominant in the Global OTC Herbal and Traditional Medicines Market
Asia Pacific excluding Japan (APEJ) is anticipated to be dominant in the market in 2017, and the trend is expected to witness a steady growth through 2022. North America is estimated to be the second largest market for OTC herbal and traditional medicines by 2022-end. Japan will continue to be the least lucrative region in the global OTC herbal and traditional medicines market.
Based on function, sales of OTC herbal and traditional medicines in maintaining digestive health of people are expected to account for the largest revenues by 2022-end. Sales of OTC herbal and traditional medicines for nutrition, and bone & joint health are expected to exhibit a parallel expansion at similar CAGRs, however, revenues from sales for nutrition will remain comparatively higher than that from bone & joint health.
Modern Trade OTC Channel to Remain Sought-After among Consumers in the Global Market
Modern trade OTC channel will remain sought-after among consumers for purchasing of OTC herbal and traditional medicines, with sales expected to register a steady expansion through 2022. In addition, sales of OTC herbal and traditional medicines through online OTC channel will register the highest CAGR over the forecast period. Although, pharmacy OTC channel will account for a larger revenue share of the market, sales are anticipated to exhibit a sluggish expansion through 2022.
Powder dosage of OTC herbal and traditional medicines will continue to be preferred among consumers, with sales poised to surpass US$ 10,000 Mn by 2022-end. Between tablet and liquid dosage of OTC herbal and traditional medicines, tablet dosage will account for a larger revenue share, while sales of liquid dosage will exhibit a higher CAGR through 2022.
According to the report, the companies that will remain active in expansion of global OTC herbal and traditional medicine market include 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, Ricola AG, Bionorica SE, Integria Healthcare Pty Ltd., Jiaherb Inc., Nutra Green Biotechnology Co., Ltd., Biovontrade SARL, Dabur India Ltd., Phytomed Herbal Solutions, and Medico Herbs.
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