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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 |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- 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
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.
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