The global herbal medicine market is expected to reach USD 117.02 billion by 2024

Tuesday, October 9, 2018 Alternative Medicine News
Email Print This Page Comment bookmark
Font : A-A+

LONDON, Oct. 8, 2018 /PRNewswire/ -- Herbal Medicine Market Size and Forecast, By Product (Tablets & Capsules, Powders,

Extracts), By Indication (Digestive Disorders, Respiratory Disorders, Blood Disorders), And Trend Analysis, 2014 - 2024Download the full report: https://www.reportbuyer.com/product/5583962 The global herbal medicine market is expected to reach
USD 117.02 billion by 2024, driven by rising popularity of herbal therapeutics compared to conventional drugs. The market for herbal medicines and remedies is anticipated to record profitable growth due to their cost-effectiveness as compared to allopathic ones.In 2016, Europe was the largest market for traditional medicines, contributing to 40.8% of the share and is expected to retain its leadership during the forecast period due to shifting from conventional drugs to herbal products. Fewer side effects and low toxicity compared to allopathy products are expected to provide a competitive advantage over other medicines in the market. Additionally, ready acceptance of herbal products owing to its benefits is the key factor for market growth and is expected to play a significant role in future.Increased preference of complementary and alternative medicine (CAM) among others has resulted in the growth of herbal medicines in Asia Pacific. Asia Pacific is expected to record the fastest CAGR of 6.8% over the forecast period. Furthermore, Europe is anticipated to generate maximum revenue over the forecast period due to increasing awareness created by various associations such as Association for Natural Medicine in Europe (AIME).Concerning product segment, tablets & capsules are expected to witness the fastest growth owing to increasing acceptance of tablets over extracts and powders. Furthermore, properties such as high dose accuracy essential for optimum therapeutic effect will, in turn, promote the herbalism market growth. The extracts segment is expected to grow at a lucrative rate as they show an immediate therapeutic effect on administration.For instance, in geriatric patients, extracts and other liquid dosage forms are preferred for administration as tablets show delayed therapeutic effect. Furthermore, extracts provide high potency as they possess only the active ingredients and no fillers which are present in tablets & capsules.The rigorous focus on developing better extraction and purification techniques by herbal medicine manufacturers is expected to fuel the market. Furthermore, respective governments are also introducing several strategies to promote the uptake of herbal medicine market. For instance, in July 2017, the Chinese Ministry of Science and Technology invested USD 12.5 million for development of herbal treatments for the treatment of cancer and HIV/AIDS.Download the full report: https://www.reportbuyer.com/product/5583962 About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: sarah@reportbuyer.com Tel: +1 (718) 213 4904 Website: www.reportbuyer.com

Cision View original content:http://www.prnewswire.com/news-releases/the-global-herbal-medicine-market-is-expected-to-reach-usd-117-02-billion-by-2024--300726926.html

SOURCE ReportBuyer



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store