Herbal Medicinal Products Market is expected to grow at a CAGR of 8% over the forecast period. Increasing demand for green label economical cure for medical illnesses like digestive problems, kidney disorders, and flu has surged the growth of the Herbal Medicinal Products Market in this region. These medicines are prepared from herbal plant extracts such as Polysaccharides, Phenols, Alkaloids, Glycosides, Terpenoids, and Resins, which are less toxic and have negligible side effects. They are available in various forms such as Capsules, Tablets, Oils/Ointments, Powder and others.
Asia Pacific region is anticipated to show a significant growth in the herbal medicinal products market over the forecast period 2017-2023. India and China are leading this market and are projected to be dominating players over the review period. Availability of raw herbs and high acceptance of ancient medicines based on Ayurvedic Formulations is considered to be the key driving factor in this region.
Furthermore, consumer shift towards green label products is boosting the demand for herbal medicinal products in Asia Pacific market. However, due to the absence of legal laws for the use of herbal ingredients in medicinal products may hinder the herbal medicinal products market. Asia Pacific herbal medicinal products market is anticipated to grow at a CAGR of 7.5% during the forecast period 2017-2023.
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major herbal medicinal products players. It further includes product portfolios, developments of leading players, which includes
Some of the key players profiled in the Global Herbal Medicinal Products Market: TSUMURA & CO. (Japan), Nature's Answer, Inc. (U.S.), ARKOPHARMA Laboratories, Company Ltd. (France), Bio-Botanica Inc. (U.S.), Sanofi-Aventis Healthcare Pty Ltd. (Australia), Young Living Essential Oils LC (U.S.), Ricola AG (Switzerland)
Key Findings:
Regulatory authorities such as European herbal & traditional medicine practitioners association and British herbal medicine association are promoting the use of herbal medicines in European region
Herbal medicinal products have a massive opportunity in the global market
Segments:
Herbal medicinal products are segmented on the basis of product type, which includes Homeopathic Medicines, Traditional Chinese Medicines, Aromatherapy Medicines, Ayurvedic Medicines, and others. Among all, ayurvedic medicines hold the major market share of the market followed by Chinese medicines. The foremost reason for the growth of the ayurvedic medicines is the easy approval for ayurvedic formulations in medicines by the regulatory authorities.
On the basis of the medicine function, the herbal medicinal products market is segmented into Cardiovascular Health, General Wellness, Gut & Digestive Health, Cognitive Health and others. In this segment, the gut and digestive health segment is dominating the market. Increasing the consumption of herbal medicines for illnesses like indigestion and dyspepsia is majorly driving the growth of this segment. However, use of herbal medicines for cardiovascular health is showing popularity among the consumers due to growing incidences of hypertension.
On the basis of the form, herbal medicinal products market is segmented into Powder, Capsules, Syrups, Ointments, Oils, Tablets and others. The tablet form is dominating in this segment followed by capsules owing to dose accuracy. Also, tablets are handy, which is an added benefit over other formulations.
