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The herbal medicines product are first choice among people to avoid adverse health effects. For instance, according to the Council for Scientific and industrial Research (CSIR), 2017, traditional medicines are mostly preferred for treating health problems compared to allopathic medicines. Moreover, allopathy cannot be effectively remedied at around 70% due to which traditional medicines have an important role to play in meeting with equitable healthcare delivery goals.
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According to the World Health Organization (WHO), 2017, Ayurvedic medicine is the sum of the knowledge, skills, and practices, which are mainly based on the theories, beliefs, and experience of different cultures to maintain health by prevention, diagnosis, and treatment of physical, and mental illness. Increasing adoption of herbal medicinal product over conventional allopathy with low side effects is expected to boost growth of the herbal medicinal products market over the forecast period.
The global herbal medicinal products market size was valued at US$ 75,807.0 million in 2018, and is expected to exhibit a CAGR of 5.5% over the forecast period (2019 – 2027).
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Herbal medicinal product comprises plant extracts such as alkaloids, phenols, terpenoids, polysaccharide, glycosides, and resins. This plant extracts in herbal medicines have medicinal properties and serve as an alternative source of medicines over conventional allopathy for various body aliments such as gut and digestive problems, hypertension, and other illness. This is expected to increase adoption herbal medicinal formulations and preparation by various industries such as supplements, pharmaceuticals, and others.
Moreover, increasing inclination of consumers towards green label product, increasing demand for herbal medicines and its practice from the literature of Unani and Ayurveda, and less side effects and non-toxic properties are expected to fuel growth of the herbal medicinal products market over the forecast period. Furthermore, increasing prevalence of diseases such as digestive problems, flu, and kidney failure has increasing demand for a cost-effective cure, which is expected to expand the global herbal medicinal products market over the forecast period.
Table of Contents
1. Research Objectives and Assumptions
◦ Research Objectives
◦ Assumptions
◦ Abbreviations
2. Market Purview
◦ Report Description
▪ Market Definition and Scope
◦ Executive Summary
▪ Market Snippet, By Drug Type
▪ Market Snippet, By Distribution Channel
▪ Market Snippet, By Region
◦ Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
◦ Market Dynamics
▪ Drivers
▪ Restraints
▪ Market Opportunities
◦ Impact Analysis
◦ Market Trends
◦ Regulatory Scenario
◦ Reimbursement Scenario
◦ Epidemiology
◦ PEST Analysis
◦ Recent Product Launch
◦ Merger and Acquisition Scenario
Top players in the market
Major players operating in the global herbal medicinal products market include Sanofi S.A, Himalaya Global Holdings Ltd., Arkopharma Laboratories, Integria Healthcare, Young Living Essential Oils, Boiron, Blackmores Ltd., and Soho Flordis International (SFI)
Research methodology adopted by Coherent Market Insights
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
• Primary Research (Trade Surveys and Experts Interviews)
• Desk Research
• Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
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