Herbal Medicinal Products Market to Surpass US$ 121.9 Billion by 2027 - Coherent Market Insights

Global Herbal Medicinal Products Market, by Product Type (Ayurvedic Medicines, Homeopathic Medicines, Chinese Medicines, and Aromatherapy), by Dosage Form (Syrups, Tablets and Capsules, Powder, and Others), by Disease Indication (Cough and Cold, Bone Health, Pain, Allergy, Digestive Disease, Thyroid Disorders, and Others), by Distribution Channel (Hospital Pharmacies, Retail Stores, Specialty Clinics and Stores, and E-commerce), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 75,807.0 million in 2018, and is expected to exhibit a CAGR of 5.5% over the forecast period (2019 – 2027). 

Increasing demand for natural medicinal products, owing to its high therapeutic effectiveness, safety, and low side effects is expected to propel the market growth over the forecast period. For instance, according to the World Health Organization (WHO), herbal medicine research plays a critical role in maintaining the global health. China, India, Nigeria, the U.S., and the World Health Organization (WHO) have made significant research investments in traditional herbal medicines. Rising incidence of allergic diseases such as allergic rhinitis, asthma, sinusitis, food allergy, and other respiratory allergies are expected to boost growth of the herbal medicinal products market. For instance, according to the World Health Organization (WHO), over 300 million patients across the globe suffered from asthma in 2013, and it is expected to surpass 400 million by 2025. Moreover, researchers from Wuyi Traditional Chinese Medicine Hospital conducted a study, which demonstrated that the herbal medicine effectively relieves symptoms and improves quality of life for patients with allergic rhinitis, thus providing a reliable treatment option. Major players are focusing on developing herbal medications with low side effects to treat pain is expected to drive market growth over the forecast period. For instance, in March, 2019, Sanfe launched Sanfe Period Pain Relief Roll-on developed by students from the Indian Institute of Technology (IIT), Delhi. The roll-on is an oil-based natural formulation, which can be applied to the pain affected areas.

Browse 35 Market Data Tables and 21 Figures spread through 189 Pages and in-depth TOC on ‘Herbal Medicinal Products Market’- Global Forecast to 2027, by Product Type (Ayurvedic Medicines, Homeopathic Medicines, Chinese Medicines, and Aromatherapy), by Dosage Form (Syrups, Tablets and Capsules, Powders, and Others), by Disease Indication (Cough and Cold, Bone Health, Pain, Allergy, Digestive Disease, Thyroid Disorders, and Others), by Distribution Channel (Hospital Pharmacies, Retail Stores, Specialty Clinics and Stores, and E-commerce), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

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Asia Pacific is expected to offer lucrative market opportunity in the herbal medicinal products market over the forecast period, owing to adoption of inorganic growth strategies such as collaborations or acquisitions by the market players in the region to expand their product offerings. For instance, in September 2017, Dabur India Ltd. and Amazon collaboratively launched a platform to offer ayurvedic brands of Dabur, and insights about ayurvedic products. Moreover, various institutes and manufacturers of herbal products in the region are focusing on collaborations with the aim of promoting ayurvedic products globally, which is expected to facilitate growth of the market over the forecast period. For instance, in February 2016, The School of Ayurvedic Pharmaceutical Sciences of Lovely Professional University, India and Shree Dhanwantri Herbals, an ayurvedic company entered into a collaboration to manufacture and promote ayurvedic products globally.

Key Takeaways of the Herbal Medicinal Products Market:

• The global herbal medicinal products market is expected to exhibit a CAGR of 5.5% over the forecast period, owing to increasing adoption of collaboration and acquisition strategies by players and rising adoption of herbal medicinal products in the market
• Among product type, Chinese medicine segment held dominant position in the herbal medicinal products market in 2018, owing to rising partnerships and increasing promotions about Traditional Chinese Medicines (TCM) by market players. For instance, in March, 2019, Luye Pharma and AstraZeneca entered into a partnership for promoting TCM and Xuezhikang capsules, a patented Chinese medicine indicated for regulating blood lipid levels at global level.
• Among dosage form, syrups segment held dominant position in the herbal medicinal products market in 2018, owing to rising product launches by market players. For instance, in September 2018, Alchem launched AlchemLife PhytoRelief-CC, a cold and cough supplement that contains concentrated plant actives of Ginger (Zingiber officinale), Turmeric (Haridra), and Pomegranate (Dantabija).
• Among disease indication, cough and cold segment held dominant position in the herbal medicinal products market in 2018, owing to its advantages such as easy formulation preparation and minimal processing. The syrup dosage form offers dosage flexibility, which allows physicians to prescribe for children, as liquid can be readily absorbed and are convenient to swallow.
• Companies operating in the global herbal medicinal products market include Sanofi S.A, Himalaya Global Holdings Ltd., Arkopharma Laboratories, Integria Healthcare, Young Living Essential Oils, Boiron, Blackmores Ltd., and Soho Flordis International (SFI)