Global Herbal Medicine Market

Report Code: PHM278A

Publish Date: Nov 2023

Publisher: BCC Publishing

Category: Pharmaceuticals

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Report Highlights

The global market for herbal medicine is expected to increase from $169.1 billion in 2023 to $279.8 billion by the end of 2028, with a compound annual growth rate (CAGR) of 10.6% during the forecast period of 2023-2028.

Report Includes

  • 34 data tables and 40 additional tables
  • An overview of the current and future global markets for herbal medicines
  • Analyses of the global market trends, with historical market revenue data (sales figures) for 2021-2022, estimates for 2023, forecasts for 2024, and projections of compound annual growth rates (CAGRs) through 2028
  • Estimates of the market size. and a revenue forecast for the global market in USD millions, and a corresponding market share analysis based on the product type, dosage form, application area, distribution/sales channel and region
  • In-depth information (facts and figures) concerning the market drivers, opportunities and challenges, prospects, technologies, regulatory scenarios, and impact of macroeconomic variables
  • Evaluation of scientific evidence supporting the efficacy and safety of herbal medicines for various health conditions
  • A discussion of ESG developments, with emphasis on the importance of ESG, consumer attitudes, assessment of risks and opportunities, and ESG practices of the leading companies
  • A look at the major vendors in the global market, and an analysis of the industry structure, including recent M&A activity and venture funding
  • Patent analysis
  • Company profiles of major players within the industry, including Bayer AG., Herbalife Nutrition Ltd., Dabur India Ltd., Patanjali Ayurved Ltd., and Blackmores Group.

Report Scope

The scope of the herbal medicine market is extensive and continues to expand as more people seek alternative and natural remedies for various health conditions. The herbal medicine market has experienced significant growth in recent years, and this growth is projected to continue. Factors such as increasing awareness of herbal remedies, rising health consciousness, and a preference for plant-based products contribute to this growth.

BCC Research analyzes each market and its applications, the regulatory environments, the technologies involved, and market projections and shares. Technologies covered include the latest trends and developments. The report informs all market players, potential entrants, government agencies, and other interested parties. As the report covers geographic regions in detail, companies interested in expanding their geographic reach will also find this study helpful. This report also covers merger and acquisition strategies and collaborations,as well as emerging technologies.

Report Synopsis

Report Metrics Details
Base year considered 2022
Forecast period considered 2023-2028
Base year market size $153.5 billion
Market size forecast $279.8 billion
Growth rate CAGR of 10.6% for the forecast period of 2023-2028
Units considered $ Millions
Segments covered Source, Type, Form, Application, Distribution Channel
Regions covered North America, Europe, Asia-Pacific, Rest of the World (RoW)
Key Market Drivers
  • Shift in Public Perception: Herbal Medicines Preferred over Pharmaceutical Synthetics
  • Comparative Advantage: Herbal Medicines Demonstrating Lower Toxicity Profiles Compared to Synthetic Drugs
  • Enhancements in T&CM Governance and Infrastructure as of 2018: Progress in Policies, Regulations, and Institutional Development
  • Appeal of Multi-indication Sales Potential for a Single Herbal Medicine Approval
  • Herbal Medicines as a Response to Costly Synthetic Drug Failures
Companies studied
21ST CENTURY HEALTHCARE INC.AFRIPLEX
BAYER AGBEIJING TONG REN TANG
BIO-BOTANICABLACKMORES GROUP
BOIRON USACHRISTARA INC.
DaburGAIA HERBS INC.
HERBALIFE NUTRITION LTD.HIMALAYA WELLNESS CO.
NATIVE CIRCLE LLPNATURE’S ANSWER LLC.
NUTRACEUTICAL INTERNATIONALPATANJALI AYURVED LTD.
RICOLA AGSCHWABE GROUP
WELEDA AGZANDU REALTY LTD.
ZEINPHARMA GERMANY GMBH
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Frequently Asked Questions (FAQs)

The Global herbal medicine market is projected to grow from $153.5 billion in 2022 to $279.8 billion in 2028, at a compound annual growth rate (CAGR) of 10.6 % during the forecast period.
  • Shift in Public Perception: Herbal Medicines Preferred Over Pharmaceutical Synthetics
  • Comparative Advantage: Herbal Medicines Demonstrating Lower Toxicity Profiles Compared to Synthetic Drugs
  • Enhancements in National T&CM Governance and Infrastructure as of 2018: Progress in Policies, Regulations, and Institutional Development
  • Herbal Medicines as a Response to Costly Synthetic Drug Failures
The market is segmented based on source, type, application, form, distribution channel and region. Based on the source, the market is segmented as medicinal part and active ingrdients.in herbal medicines. Based on application the market is segmented as pharmaceuticals & nutraceuticals, food & beverages and personal care & beauty products. Based on type, the market is segmented as Western Herbalism, Traditional Chinese Medicines, Ayurveda and other traditional herbal medicines. Based on region, market is segmented as North America, Europe, Asia-Pacific and Rest of the World. The European market had the highest share followed by Asia Pacific.
Western Herbalism will dominate the market by the end of 2028.
Europe holds the highest share in the market.

Analyst Credentials

BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.

Let us assist you! Our analysts are ready to tailor this report to your specific need. REACH OUT TO US TODAY

Table of Contents

All reports provided in PDF format. For shared licensing options (5+ Users), please call a representative at (+1) 781-489-7301 or contact us at info@bccresearch.com
Title/Chapter NamePagesMember Price
Full Report: Global Herbal Medicine Market173Free
Chapter- 1: Introduction8Free
Chapter- 2: Summary and Highlights5Free
Chapter- 3: Market and Technology Background7Free
Chapter- 4: Market Dynamics9Free
Chapter- 5: Market Breakdown by Source10Free
Chapter- 6: Market Breakdown by Type15Free
Chapter- 7: Market Breakdown by Application9Free
Chapter- 8: Market Breakdown by Form7Free
Chapter- 9: Market Breakdown by Distribution Channel10Free
Chapter- 10: Market Breakdown by Region24Free
Chapter- 11: Regulatory Aspects4Free
Chapter- 12: Emerging/Upcoming Technologies8Free
Chapter- 13: ESG Development8Free
Chapter- 14: Patent Review/New Developments4Free
Chapter- 15: Competitive Landscape3Free
Chapter- 16: Company Profiles42Free

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Global Herbal Medicine Market
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