Herbal Medicinal Products Market, by Product Type (Ayurvedic Medicines, Homeopathic Medicines, Chinese Medicines and Aromatherapy), by Dosage Form (Capsules/Tablets, Syrups, Powders, Ointment, others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and others), and by Region - Global Forecast to 2025
- Report code : CMI61688 |
- Industry :
Pharmaceutical
- Published On : May 2018 |
- Pages : 210 Pages |
- Format :
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Herbal Medicinal Products Market Insights- No chemical, high safety
The herbal medicines product are the first choice among people to avoid adverse health effects. According to the Council for Scientific and industrial Research (CSIR), 2017, traditional medicines are mostly preferred for treating health problems as compared to allopathic medicines. Moreover, allopathy cannot be effectively remedied at around 70% due to which traditional medicines have an important role to play in meeting with equitable healthcare delivery goals. According to the World Health Organization (WHO), 2017, Ayurvedic medicine is the sum of the knowledge, skills, and practices which are mainly based on the theories, beliefs and experience to different cultures used to maintain health in terms of prevention, diagnosis, and treatment of physical, and mental illness. Increasing adoption of herbal medicinal product over conventional allopathy with fewer side effects is expected to boost growth of the herbal medicinal products market during the forecast period.
The medicinal value of herbal product provides tremendous opportunity in India, which could play a leading role in growth of the global herbal medicinal products market over the forecast period.
The key players operating in herbal medicinal products market include Sanofi-Aventis Healthcare PTY Ltd., Arkopharma Laboratories, Himalaya Global Holdings Ltd., Integria Healthcare, Young Living Essential Oils, MOUNTAIN ROSE HERBS, Boiron USA, Nutraceutical Corporation, TSUMURA & CO. and Blackmores.
The global herbal medicinal products market was valued at US$ 119.37 Billion in 2016 and is expected to exhibit a CAGR of 6.98% over the forecast period (2017 – 2025).
Figure 1. Global Herbal Medicinal Products Market Share (%), By Dosage Forms – 2016
Source: Coherent Market Insights (2018)
Favorable government regulations regarding homeopathic medicines are expected to boost growth of the herbal medicinal products market
The global herbal medicinal products market is gaining significant traction due to launch of e-commerce for easy access of Ayurvedic therapies and supplements, changes in government regulations to promote herbal medicines, and the increasing expansion of herbal medicinal product worldwide. For instance, in September 2017, Dabur India collaborated with Amazon India to launch an Ayurveda e-marketplace. Through this e-commerce, Amazon will offer various ayurvedic medicines such as Nutriherbs Shilajeet, Himalaya wellness pure herbs ashwagandha, and Herbal Hills for treatment of variety of illnesses (gut and digestive problems and diabetes). Consumers will able to gain easy access to all Ayurvedic brand solutions (Dabur, Patanjali, and Himalaya) available in India. Furthermore, in November 2017, the Union Ministry of Health and Family Welfare, India, has strengthened regulation regarding homeopathic medicines under the drugs and cosmetic rules, 1945. According to the new regulation, homeopathy doctors are banned from selling homeopathic medicines over the counter at clinics. Also, pharmacist will no longer require special practicing in homeopathy outlets for consultation purpose. This law will allow the pharmacist to sell homeopathic medicines along with the allopathic medicines. Furthermore, the Good Manufacturing Practices (GMPs) of homeopathic medicines are followed by pharmacopeia standard. For instance, new law is expected to reduce the demand for raw materials to be free of organic and inorganic matter and will replace with pharmacopeia standards. Thus, these changes in law regarding homeopathic medicines are projected to make India’s regulation more specific and rigorous.
In November 2017, Australian beauty brand CANVAS expanded its presence in Singapore with the Maiko Pte Ltd to, a distributer, which will help with sales, marketing and brand-building activities of CANVAS and its aromatherapy products. With this expansion CANVAS will be able to strengthen its product portfolio in aromatherapy and enter into the global herbal medicinal products market.
In August 2017, the National Health Service England announced that the homeopathic medicines would no longer require prescription in the UK. Furthermore, in November 2017, according to the Le Figaro report, France is the biggest users of homeopathic remedies. More than a third French people use homeopathic treatments. As per the Le Figaro report, global company, Boiron is a leading manufacturer of homeopathic medicines, which earns 55% of its revenue in France alone. This in turn is anticipated to boost growth of the herbal medicinal products market over the forecast period.
The amount of side effects triggered by ingestion of allopathic medicines are increasing rapidly, which is a major concern among the population. Moreover, herbal medicinal product comprises plant extract such as alkaloids, phenols, terpenoids, polysaccharide, glycosides, and resins, owing to its medicinal properties and serve as an alternative source of medicines over conventional allopathy for various body aliments such as gut and digestive problems, hypertension, and other illness. This has intensified the use of herbal medicinal formulations and preparation from many industries such as supplements, pharmaceuticals, and others. Also, increasing inclination of consumers towards a green label product, increasing demand for herbal medicines and its practice from the literature of Unani and Ayurveda is fueling growth of the herbal medicinal products market, owing to less side effects and non-toxic properties. Furthermore, increasing prevalence of diseases such as digestive problems, flu and kidney failure has demand for a cost-effective cure, which is expected to expand the global herbal medicinal products market over the forecast period.
Market Dynamics
Herbal medicinal products market is gaining significant traction due to inclination of consumers from conventional medicines to traditional medicines worldwide. For instance, in November 2017, Organic Aromas, a leading manufacturer of aromatherapy partnered with McGill University in Montreal, Canada to improve and educate on aromatherapy. The aim of this unique projects was to promote correct use of essential oils, develop superior understanding of aromatherapy, and identify and formulate the ‘best practices’ for the aromatherapy industry. Furthermore, in November 2017, Organic Aromas launched a ground breaking organic pure essential oils with forty different blends, which has greater aromatherapy effectiveness. Also introduced its first wireless rechargeable Nebulizing Diffuser aromatherapy device, which is sleek and effective with potential therapeutic benefits. Therefore, launched of such products is expected to drive growth of the herbal medicinal products market. However, lack of awareness regarding herbal therapeutics among people and un-clear laws to use herbal ingredients for medicinal formulations may hinder the market growth.
Key features of the study:
- This report provides in-depth analysis of the herbal medicinal products market and its product type, dosage forms, market size (US$ Million), and Cumulative Annual Growth Rate (CAGR %) for the forecast period: 2017 – 2025, considering 2016 as the base year.
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players.
- It profiles leading players in the herbal medicinal products market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans.
- Key companies covered as a part of this study include, Sanofi S.A., Arkopharma Laboratories, Himalaya Global Holdings Ltd., Integria Healthcare, Young Living Essential Oils, MOUNTAIN ROSE HERBS, Boiron USA, Nutraceutical Corporation, TSUMURA & CO. and Blackmores.
- Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launches, distribution channel upgrades, market expansion, and marketing tactics.
- The herbal medicinal products market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors and suppliers for herbal medicinal products market, research and consulting firms, new entrants and financial analysts.
- Various strategy matrices used in analyzing the herbal medicinal products market would provide stakeholders vital inputs to make strategic decisions accordingly.
Detailed Segmentation:
- Global Herbal Medicinal Products Market, By Product Type:
- Ayurvedic Medicines
- Homeopathic Medicines
- Chinese Medicines
- Aromatherapy
- Global Herbal Medicinal Products Market, By Dosage Forms:
- Capsules/Tablets
- Syrups
- Powder
- Ointment
- Others
- Global Herbal Medicinal Products Market, By Distribution Channel :
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others (Clinics, Specialty stores, etc.)
- Global Herbal Medicinal Products Market, By Region :
- North America
- By Product Type:
- Ayurvedic Medicines
- Homeopathic Medicines
- Chinese Medicines
- Aromatherapy
- By Dosage Forms:
- Capsules/Tablets
- Syrups
- Powder
- Ointment
- Others
- By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
- By Country:
- U.S.
- Canada
- Latin America
- By Product Type:
- Ayurvedic Medicines
- Homeopathic Medicines
- Chinese Medicines
- Aromatherapy
- By Dosage Forms:
- Capsules/Tablets
- Syrups
- Powder
- Ointment
- Others
- By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
- By Country:
- Brazil
- Mexico
- Rest of Latin America
- Europe
- By Product Type:
- Ayurvedic Medicines
- Homeopathic Medicines
- Chinese Medicines
- Aromatherapy
- By Dosage Forms:
- Capsules/Tablets
- Syrups
- Powder
- Ointment
- Others
- By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Product Type:
- Ayurvedic Medicines
- Homeopathic Medicines
- Chinese Medicines
- Aromatherapy
- By Dosage Forms:
- Capsules/Tablets
- Syrups
- Powder
- Ointment
- Others
- By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Product Type:
- Ayurvedic Medicines
- Homeopathic Medicines
- Chinese Medicines
- Aromatherapy
- By Dosage Forms:
- Capsules/Tablets
- Syrups
- Powder
- Ointment
- Others
- By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Product Type:
- Ayurvedic Medicines
- Homeopathic Medicines
- Chinese Medicines
- Aromatherapy
- By Dosage Forms:
- Capsules/Tablets
- Syrups
- Powder
- Ointment
- Others
- By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
- By Country:
- South Africa
- Central Africa
- North Africa
- Company Profiles
- Sanofi S.A. *
- Company Overview
- Product Portfolio
- Recent Developments
- Financial Performance
- Key Strategies
- Arkopharma Laboratories
- Himalaya Global Holdings Ltd.
- Integria Healthcare
- Young Living Essential Oils
- MOUNTAIN ROSE HERBS
- Boiron USA
- Nutraceutical Corporation
- TSUMURA & CO.
- Blackmores
“*” marked represents similar segmentation in other categories in the respective section
Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Dosage Form
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Report Description
- Coherent Opportunity Map (COM)
- Market Dynamics, Regulations, and Trends Analysis
- Therapy Differentiation
- Therapy Specific Developments
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New Product Approvals/Launch
- Promotion and Marketing Initiatives
- Global Herbal Medicinal Products Market, By Product Type, 2017 - 2025 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2025 (%)
- Y-O-Y Growth Analysis, 2016 - 2025
- Segment Trends
- Ayurvedic Medicines
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Homeopathic Medicines
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Chinese Medicines
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Aromatherapy
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Introduction
- Global Herbal Medicinal Products Market, By Dosage Form, 2017 - 2025 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2025 (%)
- Y-O-Y Growth Analysis, 2016 - 2025
- Segment Trends
- Capsules/Tablets
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Syrups
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Powder
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Ointment
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Others
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Introduction
- Global Herbal Medicinal Products Market, By Distribution Channel, 2017 - 2025 (US$ Million)
- Introduction
- Market Share Analysis, 2017 and 2025 (%)
- Y-O-Y Growth Analysis, 2016 - 2025
- Segment Trends
- Hospital Pharmacies
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Retail Pharmacies
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Online Pharmacies
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Others (Clinics, Specialty stores, etc.)
- Introduction
- Market Size and Forecast, and Y-O-Y Growth, 2015 - 2025, (US$ Million)
- Introduction
- Global Herbal Medicinal Products Market, By Region, 2017 - 2025 (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2017 and 2025 (%)
- Y-o-Y Growth Analysis, For Region, 2016 – 2025
- Regional Trends
- North America
- Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Dosage Form, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Country, 2015 - 2025 (US$ Mn)
- U.S.
- Canada
- Introduction
- Latin America
- Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Dosage Form, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Country, 2015 - 2025 (US$ Mn)
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Dosage Form, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Country, 2015 - 2025 (US$ Mn)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Dosage Form, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Country, 2015 - 2025 (US$ Mn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of APAC
- Middle East
- Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Dosage Form, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Country, 2015 - 2025 (US$ Mn)
- GCC
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Product Type, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Dosage Form, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Distribution Channel, 2015 - 2025 (US$ Mn)
- Market Size and Forecast, By Country, 2015 - 2025 (US$ Mn)
- South Africa
- Central Africa
- North Africa
- Competitive Landscape
- Heat Map Analysis
- Company Profiles
- Sanofi S.A.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- Arkopharma Laboratories
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- Himalaya Global Holdings Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- Integria Healthcare
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- Young Living Essential Oils
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- MOUNTAIN ROSE HERBS
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- Boiron USA
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- Nutraceutical Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- TSUMURA & CO.
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- Blackmores
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Developments/Updates
- Strategies
- Sanofi S.A.
- Section
- References
- Research Methodology
- About us and Sales Contact
*Browse 35 market data tables and 41 figures on "Herbal Medicinal Products Market” - Global forecast to 2025”.
Research Methodology
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
- Primary Research (Trade Surveys and Experts Interviews)
- Desk Research
- Proprietor Data Analytics Model
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
- National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
- Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
- Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
- Trade association, National and international media and trade press.
- Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
- Scientific journals, and other technical magazines and whitepapers.
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Data Standardization:
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
- Micro-economic indicators
- Macro-economic indicators
- Environmental indicators
- Socio-political indicators
- Technology indicators
Data Processing
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
Data Validation
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
- It provides first-hand information on the market dynamics, outlook, and growth parameters.
- Industry experts validates the estimates which helps the company to cement the on-going research study.
- Primary research includes online surveys, face-to face interviews, and telephonic interviews.
The primary research is conducted with the ecosystem players including, but not limited to:
- Raw Material Suppliers
- Manufacturers
- System Integrators
- Distributors
- End-users
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