Herbal Medicines have become an indispensable part of healthcare across the world. The market scenario for herbal medicine is somewhat different as the regulation norms for herbal medicines appear to be different as compared to allopathic drugs. Eventually, there arises a lack of clinical research that evaluates the use of herbal medicines. Although, the use of herbal medicines derive the best outcomes in terms of health, potentially there could a product contamination, toxicity or any adulteration involved during packaging. This arises from an unhealthy approach such as combining two or more different compounds or treatments together. With the rise in population, young adults constitute for around 40% across the globe and older adults constitute around 60%, hence healthcare providers must ensure the potency of interactions in order to look for any alterations or toxicity.
the prime drivers for the market include significant rise in adoption to homeopathic medicines coupled with significant increase in cost-effective treatments for chronic diseases. In addition, use of herbal medicines lead in minimal side effects with a greater emphasis on betterment of health which in turn creates a higher reliability for herbal medicines.
Herbal medicine is available in form of products like powder extracts and tablets & capsules that are used for disorders like respiratory disorders, blood disorders and digestive disorders.
Asia-Pacific regions have been dominant in the herbal medicine market since long and continue to reveal a remarkable growth in the global market. Presence of retail outlets and small scale suppliers supplement the market growth. Reasonable pricing is one of the significance for developments in APAC sector. From a consumer perspective, the market is significantly moved by rise in consumer awareness and higher demand for herbal medicines.
Europe and North America lead the market scenario with a significance due to advancements in healthcare sector and untapped potential due to rise in R&D by key players. Other factors such as adoption of homeopathy techniques for patient welfare and increase in herbal applications.
Prominent players profiled in the herbal medicine market report include Dabur Ltd, Blackmores, Bio-Botanica Inc, Guangzhou Pharma Co, Genius Nature Herbs Pvt Ltd, Potter’s Herbals, Sido Muncul and Sanjiu Medical & Pharmaceutical Co Ltd.