Herbal
medicine is a type of dietary supplements extracted from different parts of the
plant including leaves, bark, berries, seeds, and roots. It is also called
botanical medicine or phytomedicine. It involves various herbal supplements,
herbs, herbal preparations, and complete herbal products. It is available in
various dosage forms for instance tablets, extracts, dried plants, and
others. It is classified as
detoxification medicine, antipyretic medicine, Digestant medicine, blood
circulation medicine, and others.
The
key benefits are included strengthen the immune system, stabilizes the hormone
& metabolism, easier to obtain than prescription medicine, and many more.
Based
on product type, herbal medicine market is segmented into medicine function,
medicinal part and active ingredient. Based on source type, market is segmented
into leaf, fruit & vegetables, barks, roots and others. Based on medicine type, market is segmented
into detoxification medicine, blood circulation medicine, antipyretic medicine,
aigestant medicine and others. Based on type of medicinal plants, market is
bifurcated into Curcuma Longa, Marrubium Vulgare, Actaea Racemose, Vaccinium
Macrocarpon, Aloe Vera, Echinacea, Cocos Nucifera, Camellia Sinensis,
Cinnamomum Spp, Zingiber Officinale, Allium Sativum and others. Based on
application, market is segmented into traditional Chinese medicine, western
herbalism and others. In addition, based on end-use, market is segmented into
personal care, pharmaceuticals and food & benerages.
The
herbal medicine market is driven by rise in prevalence of cardiovascular
diseases such as liver & heart diseases, followed by increase in aging
population in both the developed & developing countries, rise in research
funding for herbal medicines, and growth in current good manufacturing
practices for dietary supplements. However, lack of awareness among individuals
regarding the use and dosage of herbal medicines may impact the market.
Moreover, rise in technological advancements and increase in research &
development (R&D) investment in healthcare sector are key opportunities for
market.
Based
on geography, the Asian-Pacific is the dominant region in the herbal medicine
market owing to rise in consumption of herbal medicine in developing countries
and growth in funding for research on medicinal plants in the region. The
European and North-American regions are estimated to witness substantial growth
rate due to rise in demand for natural therapies and growth in disposable
income of the individuals over the forecast period. It is predicted that the
market will be reached at rapid pace on account of increase in awareness of
preventive health care techniques during the forecast period.
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