Global Herbal Medicine Market Information by Product Type (Herbal Pharmaceutical, Herbal Dietary Supplements, Herbal Functional Foods & Others), Type of Medicinal Plants (Aconitum ferox, Allium sativum, Andrographis paniculata, Commiphora weightii & Crocus sativus), By Form (Capsules & Tablets, Powder, Syrups and Extracts), By Source (Leaves, Roots & Barks, Whole Plant & Fruit), By Indication (Cardiovascular Disorders, Respiratory Disorders, Digestive Disorders and Hypnotics & Sedatives), By Distribution Channel (Hospital & Retail Pharmacies and E-Commerce), By Region (North America, Europe, Asia Pacific, The Middle East & Africa (MEA) and Latin America) - Forecast to 2023.
Market analysis
The growing usage of the herbal products is one of the major factors influencing the growth of the global herbal medicine market. Herbal products are highly used by the consumers owing to its health benefits. Also, herbal products include the natural ingredients which are highly preferred by the health conscious consumers. The global herbal medicine market is expected to grow at a CAGR of 5.88% during the forecast period (2018-2023).
Market segmentation
The global herbal medicine market based on its products, the global market has been classified into Herbal Pharmaceutical, Herbal Functional Foods, Herbal Dietary Supplements, Others. On the basis of its medicinal plants, the market is classified on the basis of Aconitum ferox (Ranunculaceae), Andrographis paniculata (Acanthaceae), Allium sativum (Liliaceae), Crocus sativus (Iridaceae), Commiphora weightii (Burseraceae). Based on its form, the market is segmented into powder, capsules and tablets, extracts and syrups. On the basis of its source, the market is classified into roots and barks, leaves, fruit and whole plant. Based on its indication, the market is bifurcated into Cardiovascular Disorders, Digestive Disorders, Respiratory Disorders, Hypnotics & Sedatives. On the basis of its distribution channel, the market is segmented as e-commerce and hospitals and retail pharmacies.
Regional analysis
Geographically, the global herbal medicine market is divided into global regions like Europe, North America, Asia- Pacific, Middle East, LATAM, and Africa.
Major players
ZeinPharma Germany GmbH, Dasherb Corp, Bayer AG, Arkopharma, Hishimo Pharmaceuticals,BEOVITA, Schaper & Brummer, Blackmores, Dr. Willmar Schwabe India Pvt. Ltd., among others are some of the major players in the global herbal medicine market.
