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According to the latest research, the global Herbal Medicine market size was valued at USD 108448.64 million in 2022 and is expected to expand at a CAGR of 4.03% during the forecast period, reaching USD 137459.79 million by 2028.
Herbal medicine refers to using a plant's seeds, berries, roots, leaves, bark, or flowers for medicinal purposes. Herbal medicine products contain ingredients derived from plants or natural resources. They are sold as tablets, capsules, powders, teas, extracts, and fresh or dried plants.
Raising health awareness
Growing focus on self-care, rising awareness, and influx of substantial investments in R&D activities are stimulating the growth of the global market. Global demand for herbal supplements and medicines has increased due to the rise in lifestyle-related disease events such as obesity and diabetes, which has prompted consideration of herbal supplements to reduce health risks. Meanwhile, the Covid-19 outbreak has also presented an opportunity for Herbal Medicines manufacturers to increasingly launch immune-boosting herbal products, driving growth by offering products for stress relief and better immune health.
Covid-19 boosts industry
In the new crown epidemic in China, traditional Chinese medicine has been deeply involved in the prevention and control of the epidemic throughout the whole process, and has formed TCM diagnosis and treatment standards and technical solutions covering the whole process of the medical observation period, light, ordinary, severe, critical, and recovery period. To achieve full promotion and use. The State Administration of Traditional Chinese Medicine of China has screened out a batch of prescriptions with obvious curative effects, led by "three medicines and three prescriptions", and their clinical effectiveness has been confirmed in controlled experiments. The "three medicines and three prescriptions" Chinese medicines represented by Jinhua Qinggan Granules and Lianhua Qingwen Capsules have been registered and marketed in Thailand, Russia, Pakistan, Singapore, Laos, Kyrgyzstan, the Philippines and other countries, and have played a role in the world's anti-epidemic battlefield.
The herbal product market is restricted by relevant regulations
With the continuous expansion of the herbal product market in Europe, many countries have introduced relevant policies to regulate the herbal market. Herbal products need to be registered as regular medicines, and retailers, including pharmacies, will not be able to purchase herbal products sold on premises without proper licenses. Because herbal products are made from plants, there is less basic research and clinical scientific research on herbal medicines. For small herbal product manufacturers, it may be costly to prove the quality and safety of the product, as well as standardized manufacturing standards.
Product quality instability
Medicinal plants are raw materials of herbal products. Compared with chemically synthesized raw materials, plants have different natural characteristics. The planting place, planting conditions, and harvesting time of medicinal plants will affect the composition of plants. Because there are many factors that change plant growth, the quality of herbs may also be affected. Therefore, manufacturers need strict requirements for the cultivation, harvesting, preliminary processing, packaging, transportation, equipment and personnel of herbal products.
Region Overview:
In 2022, the share of the Herbal Medicine market in Asia-Pacific stood at 51.87%.
Company Overview:
Tongrentang is one of the major players operating in the Herbal Medicine market, holding a share of 2.05% in 2023.
Tongrentang
China Beijing Tongrentang (Group) Co., Ltd. is a state-owned enterprise. At present, the main structure of six secondary groups, three institutes and five directly affiliated subsidiaries has been formed. Covers the modern pharmaceutical industry, retail business and medical services.
Tasly
Tasly Holding Group is a leader in the big health industry, guided by comprehensive internationalization, taking the big bio-pharmaceutical industry as the core, taking the health care industry and medical rehabilitation, health and health care, and health management services as the two wings to form a two-wheeled industry and capital. Driven by high-tech enterprise groups.
Segmentation Overview:
As for product types, the Extracts segment held the largest market share in 2022.
Application Overview:
The market's largest segment by application is the segment Western Herbalism, with a market share of 45.39% in 2022.
This report elaborates on the market size, market characteristics, and market growth of the Herbal Medicine industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Herbal Medicine. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Herbal Medicine Market Report Include:
Market Size Estimates: Herbal Medicine market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Herbal Medicine market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Herbal Medicine market
Segment Market Analysis: Herbal Medicine market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Herbal Medicine market situations and prospects in major and top regions and countries
Herbal Medicine Market
Herbal Medicine Industry Chain: Herbal Medicine market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Herbal Medicine Industry News, Policies by regions
Herbal Medicine Industry Porters Five Forces Analysis
Key players in the global Herbal Medicine market are covered in Chapter 2:
Blackmores
Tongrentang
Arkopharma
Bio-Botanica
Sanjiu
SIDO MUNCUL
Bionorica
Nature’s Bounty
Nelsons
Zand
Herbal Africa
Arizona Natural
Schwabe
Tasly
Tsumura
Yunnan Baiyao
In Chapter 6 and Chapter 9, on the basis of types, the Herbal Medicine market from 2018 to 2028 is primarily split into:
Tablets & Capsules
Powders
Extracts
Others
In Chapter 7 and Chapter 10, on the basis of applications, the Herbal Medicine market from 2018 to 2028 covers:
Western Herbalism
Traditional Chinese Medicine
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Herbal Medicine market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Herbal Medicine industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Herbal Medicine market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Herbal Medicine industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Herbal Medicine market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Herbal Medicine market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Herbal Medicine market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
Herbal medicine refers to using a plant's seeds, berries, roots, leaves, bark, or flowers for medicinal purposes. Herbal medicine products contain ingredients derived from plants or natural resources. They are sold as tablets, capsules, powders, teas, extracts, and fresh or dried plants.
Raising health awareness
Growing focus on self-care, rising awareness, and influx of substantial investments in R&D activities are stimulating the growth of the global market. Global demand for herbal supplements and medicines has increased due to the rise in lifestyle-related disease events such as obesity and diabetes, which has prompted consideration of herbal supplements to reduce health risks. Meanwhile, the Covid-19 outbreak has also presented an opportunity for Herbal Medicines manufacturers to increasingly launch immune-boosting herbal products, driving growth by offering products for stress relief and better immune health.
Covid-19 boosts industry
In the new crown epidemic in China, traditional Chinese medicine has been deeply involved in the prevention and control of the epidemic throughout the whole process, and has formed TCM diagnosis and treatment standards and technical solutions covering the whole process of the medical observation period, light, ordinary, severe, critical, and recovery period. To achieve full promotion and use. The State Administration of Traditional Chinese Medicine of China has screened out a batch of prescriptions with obvious curative effects, led by "three medicines and three prescriptions", and their clinical effectiveness has been confirmed in controlled experiments. The "three medicines and three prescriptions" Chinese medicines represented by Jinhua Qinggan Granules and Lianhua Qingwen Capsules have been registered and marketed in Thailand, Russia, Pakistan, Singapore, Laos, Kyrgyzstan, the Philippines and other countries, and have played a role in the world's anti-epidemic battlefield.
The herbal product market is restricted by relevant regulations
With the continuous expansion of the herbal product market in Europe, many countries have introduced relevant policies to regulate the herbal market. Herbal products need to be registered as regular medicines, and retailers, including pharmacies, will not be able to purchase herbal products sold on premises without proper licenses. Because herbal products are made from plants, there is less basic research and clinical scientific research on herbal medicines. For small herbal product manufacturers, it may be costly to prove the quality and safety of the product, as well as standardized manufacturing standards.
Product quality instability
Medicinal plants are raw materials of herbal products. Compared with chemically synthesized raw materials, plants have different natural characteristics. The planting place, planting conditions, and harvesting time of medicinal plants will affect the composition of plants. Because there are many factors that change plant growth, the quality of herbs may also be affected. Therefore, manufacturers need strict requirements for the cultivation, harvesting, preliminary processing, packaging, transportation, equipment and personnel of herbal products.
Region Overview:
In 2022, the share of the Herbal Medicine market in Asia-Pacific stood at 51.87%.
Company Overview:
Tongrentang is one of the major players operating in the Herbal Medicine market, holding a share of 2.05% in 2023.
Tongrentang
China Beijing Tongrentang (Group) Co., Ltd. is a state-owned enterprise. At present, the main structure of six secondary groups, three institutes and five directly affiliated subsidiaries has been formed. Covers the modern pharmaceutical industry, retail business and medical services.
Tasly
Tasly Holding Group is a leader in the big health industry, guided by comprehensive internationalization, taking the big bio-pharmaceutical industry as the core, taking the health care industry and medical rehabilitation, health and health care, and health management services as the two wings to form a two-wheeled industry and capital. Driven by high-tech enterprise groups.
Segmentation Overview:
As for product types, the Extracts segment held the largest market share in 2022.
Application Overview:
The market's largest segment by application is the segment Western Herbalism, with a market share of 45.39% in 2022.
This report elaborates on the market size, market characteristics, and market growth of the Herbal Medicine industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Herbal Medicine. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Herbal Medicine Market Report Include:
Market Size Estimates: Herbal Medicine market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Herbal Medicine market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Herbal Medicine market
Segment Market Analysis: Herbal Medicine market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Herbal Medicine market situations and prospects in major and top regions and countries
Herbal Medicine Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Herbal Medicine Industry Chain: Herbal Medicine market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Herbal Medicine Industry News, Policies by regions
Herbal Medicine Industry Porters Five Forces Analysis
Key players in the global Herbal Medicine market are covered in Chapter 2:
Blackmores
Tongrentang
Arkopharma
Bio-Botanica
Sanjiu
SIDO MUNCUL
Bionorica
Nature’s Bounty
Nelsons
Zand
Herbal Africa
Arizona Natural
Schwabe
Tasly
Tsumura
Yunnan Baiyao
In Chapter 6 and Chapter 9, on the basis of types, the Herbal Medicine market from 2018 to 2028 is primarily split into:
Tablets & Capsules
Powders
Extracts
Others
In Chapter 7 and Chapter 10, on the basis of applications, the Herbal Medicine market from 2018 to 2028 covers:
Western Herbalism
Traditional Chinese Medicine
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Herbal Medicine market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Herbal Medicine industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Herbal Medicine market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Herbal Medicine industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Herbal Medicine market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Herbal Medicine market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Herbal Medicine market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
