The Global Herbal Medicine Market to grow from USD 95,179.35 Million in 2019 to USD 142,326.20 Million by 2025, at a Compound Annual Growth Rate (CAGR) of 6.93%.
Market Segmentation & Coverage:
The research report categorizes the Herbal Medicine Market to forecast the revenues and analyze the trends in each of the following segments:
Based on Product, the Herbal Medicine Market studied across Herbal Beauty Product, Herbal Dietary Supplement, Herbal Functional Food, and Herbal Pharmaceutical.
Based on Form, the Herbal Medicine Market studied across Capsules & Tablets, Extracts, Powders, and Syrups.
Based on Source, the Herbal Medicine Market studied across Barks Whole Plant, Fruit, Leaves, and Roots.
Based on Type of Medicinal Plant, the Herbal Medicine Market studied across Actaea Racemosa, Aloe Vera, Camellia Sinensis, Cinnamomum Spp, Cocos Nucifera, Curcuma Longa, Echinacea, Marrubium Vulgare, Vaccinium Macrocarpon, and Zingiber Officinale.
Based on Indication, the Herbal Medicine Market studied across Blood Disorders, Digestive Disorders, and Respiratory Disorders.
Based on Distribution Channel, the Herbal Medicine Market studied across E-Commerce, Hospital & Retail Pharmacies, and Specialty Pharmaceutical Stores & Labs.
Based on Geography, the Herbal Medicine Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.
The factors attributing to the growth of the market are increasing research funding for herbal medicines and increasing demand for natural medicines as an alternative to conventional medicine. However, some factors such as higher risk of allergies and other adverse effects through the use of herbal medicine and consequent confusion and trust issue among consumers may hinder the market growth. The Herbal Medicine Market expected to showcase the opportunities such as growth opportunities with well-established distribution channel and increasing awareness among consumers. Soon market may face the possible challenges in the growth due to lack of standardization among global entities. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the market.
Global Herbal Medicine Market: Market Dynamics
Cumulative Impact of COVID-19:
COVID-19 is an incomparable global public health emergency that has affected almost every industry, so for and, the long-term effects projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlaying COVID-19 issues and potential paths forward. The report is delivering insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecast, considering the COVID-19 impact on the market.
360iResearch Competitive Strategic Window:
The 360iResearch Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth.
360iResearch FPNV Positioning Matrix:
The 360iResearch FPNV Positioning Matrix evaluates and categorizes the vendors in the Herbal Medicine Market on the basis of Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Company Usability Profiles:
The Herbal Medicine Market is highly competitive and characterized by the presence of a large number of international and regional players in the market. The market has witnessed increased competition between vendors based on the pricing model, technology differentiation, brand name, quality of service, price differentiation, and technical expertise.
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Herbal Medicine Market, including Arizona Natural Products, ARKOPHARMA Laboratories Company Ltd., Bayer AG, Beovita Vital GmbH, Bio-Botanica Inc., Blackmores Limited, Dasherb Corp, Dr. Willmar Schwabe GmbH & Co. KG, Hishimo Pharmaceuticals Pvt. Ltd., Madaus GmbH, Schaper & Brümmer GmbH & Co. KG, TSUMURA & CO., Venus Pharma GmbH, Weleda, and ZeinPharma Germany GmbH.