Published On : Sep 13,2017
The global herbal medicinal products market is expected to witness robust growth during the forecast period. This growth is expected to be primarily driven by shifting trend from conventional medicines to traditional medicines, favorable government regulations, and growing production capacity of manufacturers across the globe. According to the newly published report, “Herbal Medicinal Products Market: Global Industry Analysis
(2012-2016) and Opportunity Assessment (2017-2027),” the global herbal medicinal market revenue is expected to grow at healthy CAGR of 7.6% over the forecast period of 10 years, i.e. 2017-2027. The global market for herbal medicinal product market represents absolute $ opportunity of US$ 8,858.3 Mn in 2018 over 2017 and incremental opportunity of US$ 142.07 Bn between 2017 and 2027. In terms of value, this market is likely to reach at US$ 272.64 Bn in 2027.
Global Herbal Medicinal Products Market: Opportunity
Increasing number of people suffering from arthritis prefers natural methods of treatment to relive the symptoms caused by arthritis. Increasing inclination towards natural remedies provides good growth opportunities for the players in essential oil industry in the near future
Increasing demand for herbal supplements products is creating opportunities for players in the global herbal supplements market to expand in different region via exporting their products
Homeopathy has become an increasingly important element in the global medical system. The homeopathic remedies have achieved leading positions in different OTC categories
The online sales or e-commerce distribution channel has witnessed dramatic increase in herbal medicinal products market in recent years
Mergers and acquisitions in the herbal medicinal products industry has helped many manufacturers to expand their geographical reach
Global Herbal Medicinal Products Market: Forecast by Product Type
Product type segment include Ayurvedic medicines, Homeopathic medicines, Chinese medicines and Aromatherapy products. By product type, Ayurvedic medicine segment dominated the global market in 2016, and is expected to do so. Favourable government regulations and development of newer products would further boost the adoption of these products. The revenue share for Ayurvedic medicine segment in 2017 is 57.8%.
Global Herbal Medicinal Products Market: Forecast by Form
This segment is consist of capsules/tablets, powder, syrups and oils and ointment and others. Capsules/tables segment is expected to be the most lucrative among all forms of herbal medicinal products market, with attractiveness index of 2.0. Capsule/tablets segment is likely to be valued US$ 123.17 Bn in 2027, expanding at a CAGR of 8.7% throughout the forecast period. Wide availability of herbal products in capsule and tablet form and ease of consumption drives the growth for this segment.
Global Herbal Medicinal Products Market: Forecast by Distribution Channel
Distribution channel segment is further segmented into hospital pharmacies, retail pharmacies, mail order pharmacies and E-commerce. With 8.6% CAGR, hospital pharmacies segment is expected to dominate the market by reaching a value of US$ 113.74 Bn in 2027. Retail pharmacies and Mail order pharmacies are expected to be the second and third largest distribution channel segment of herbal medicinal products market, with market attractiveness index of 0.9 and 0.8 respectively.
Global Herbal Medicinal Products Market: Forecast by Region
Seven regions are covered in this report that include, North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA. APEJ is expected to register a high CAGR of 9.9% over 2017–2027, primarily due to high adoption rate, ancient practices of Ayurveda and Chinese medicines, and wide availability of raw herb cultivators. The revenue share of APEJ in the global herbal medicinal products market is 24.8%.
Global Herbal Medicinal Products Market: Key Manufacturers
Blackmores Limited, Sanofi-Aventis Healthcare PTY Ltd., Arkopharma SA, Nutraceutical Corporation, STADA Arzneimittel AG, Himalaya Global Holdings Ltd., Integria Healthcare, Boiron Group, Young Living Essential Oils, MOUNTAIN ROSE HERBS are some of the key manufacturers in global herbal medicinal products market.
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