Global Market for Herbal Medicines
Dublin, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The "Herbal Medicines - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. The global market for Herbal Medicines estimated at US$135 Billion in the year 2022, is projected to reach a revised size of US$178.4 Billion by 2026, growing at a CAGR of 8.1% over the analysis period.
Herbal Pharmaceuticals, one of the segments analyzed in the report, is projected to grow at a 8.6% CAGR to reach US$84.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Herbal Functional Foods segment is readjusted to a revised 7.9% CAGR for the next 7-year period. This segment currently accounts for a 25.4% share of the global Herbal Medicines market.
Known for medicinal properties, leaves from herbal plants are extracted to produce numerous herbal supplements. Herbal pharmaceuticals, and supplements contain whole plants or individual parts of plants used to prevent or treat illness or disease. Besides offering reliable treatment medications for a range of health disorders, medicinal herbs are also ideal for use in food and beverage products as health consciousness is poised to remain as one of the important aspects of modern population. The U.S. Market is Estimated at $24.5 Billion in 2022, While China is Forecast to Reach $32.9 Billion by 2026
The Herbal Medicines market in the U.S. is estimated at US$24.5 Billion in the year 2022. The country currently accounts for a 18.4% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$32.9 Billion in the year 2026 trailing a CAGR of 10.8% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 7.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR while Rest of European market (as defined in the study) will reach US$35.8 Billion by the end of the analysis period. The demand for herbal supplements has been predominantly concentrated in the West, due to relatively high levels of health consciousness, and widespread and easy access to products.
An ageing population, changing health perception and the threat posed by antimicrobial resistance are driving the demand for herbal supplements and remedies. Major factors driving growth in emerging countries include expanding population base, growing tendency of living healthy among consumers, increasing consumer awareness about wellness and dietary requirements, and growing demand for natural remedies. Growth in the region is supported by cultural affinity to herbalism and strong consumer confidence in the efficacy and safety of herbal ingredients. Herbal Beauty Products Segment to Reach $20.2 Billion by 2026
Medicinal herbs offer highly functional ingredients for manufacturing beauty products and cosmetics. Herbal ingredients provide reliable ingredients to enrich the cosmetic products and deliver much better functionality than regular chemicals-based cosmetics.
The increasing uptake of these herbal products is credited to rising consumer awareness regarding negative implications of inorganic cosmetics ingredients. In the global Herbal Beauty Products segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment.
These regional markets accounting for a combined market size of US$11.4 Billion will reach a projected size of US$15.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.7 Billion by the year 2026, while Latin America will expand at a 5.8% CAGR through the analysis period. Select Competitors (Total 234 Featured):
Dr. Willmar Schwabe India Pvt. Ltd.
Schaper & Brummer GmbH & Co. KG
Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
2020: A Year of Disruption & Transformation
As the Race between the Virus & Vaccines Intensifies, Where is the World Economy in 2021
World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
Role of Herbal Medicine in the Fight against Covid-19
Pandemic Leads to Increased Consumer Focus on Health and Wellness Products, Driving the Consumption of Herbal Supplements and Foods
Heal Thyself Motto amid COVID-19 Drives Uptake of Herbal Medicines
Herbal Medicines on the March as Mutant Versions of COVID-19 Virus Emerge
A Regional Overview of How Herbal Medicine has Gained Attention Amid the Pandemic
Herbal Medicines - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
An Overview of Select Markets
China Gives Green Signal to Herbal Medicines to Expand COVID-19 Treatment Options
Salient Factors Establishing Phytopharmaceuticals as Promising Niche Market in India
Why Few Herbal Medicines have Secured Approval as Prescription Medicines?
2. FOCUS ON SELECT PLAYERS 3. MARKET TRENDS & DRIVERS
Market to Gain from Mounting Concerns Over Side Effect Profile of Synthetic Drugs
Shifting Preference towards Traditional Medicines to Widen the Addressable Market
Rising Uptake of Medicinal Herbs Enriched Functional Foods
Leaves, Roots Extracts Thrive Well
Key Trends and Products Shaping the Herbal Supplements Market
Rising Popularity of Curcumin & Turmeric Products
Consumer Focus on Self-Care Organic Products
Nutritional Deficiency & Sedentary Lifestyle Open New Avenues
Adaptogens: Growing Role as a Stress Buster
Natural Garlic Herbal Supplements Gain Interest for Keeping a Healthy Heart
Ginkgo Biloba Gains Popularity for Treatment of Blood Disorders and Memory Disorders
Echinacea Gets Popular for Immune Stimulating Properties
St. John's Wort for Depression and Mood Disorders
Ginseng Supplements for Energy Boost
Research Evidence Supports Positive Role of Herbal Remedies in Boosting Immunity and Stress Management
Changing Demographics and Growing Emphasis on Preventive Healthcare Boost Prospects
Demand for Traditional Chinese Medicine Surges amid the Pandemic
New Technologies Transform Chinese Herbal Medicine
Indian Ayurveda to Witness Rapid Worldwide Growth led by the Pandemic
Demand for Ashwagandha Containing Supplements to Soar
Growing Opportunities for Herbal Medicines in Beauty & Cosmetics Sector
Threat of Antimicrobial Resistance Drives Opportunities
Deaths from Antimicrobial Resistance to Increase by 2050
With Depression Increasingly Becoming a Common, Herbal Alternatives Gain Attention
Anti-Depressant Market: Percentage Share Breakdown by Depressive Disorder Type
Herbal Supplement Usage in Dentistry Surges amid Concerns
Rising Aging Population Drives Demand
Aging Population Steps-Up The Burden on Healthcare: Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
Global Cost of Chronic Diseases (In US$ Billion) for the Years 2018 and 2030
Unique Healthcare Needs of Women Propel Demand for Various Herbal Supplements
Increasing Focus on Weight Management Spurs Demand for Herbs that Aid Weight Loss
Epidemic Proportions of Obesity Lead to Increased Focus on Weight Management
Obesity Prevalence Rate (%) in Select Countries for the Years 2019 and 2030P
Global Obesity Epidemic: Percentage of Overweight, Obese, and Severely Obese Adults for 2014 & 2025
Increasing Prevalence of Chronic & Lifestyle Diseases Enhances Consumer Demand
Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
Global Breakdown of Total Number of Cancer Cases by Type: 2020
World Diabetes and Population Statistics (2019, 2030 & 2045)
Global Annual Medical Cost of CVD in US$ Billion: 2010, 2015, 2020, 2025 and 2030
Urbanization Trend Drives Uptake of Herbal Supplements
World Urban Population in Thousands: 1950-2050P
Regulatory Regime for Herbal Medicine
The EU Regulatory System for Herbal Medicinal Products
Emerging Demand for CSR and Sustainable Sourcing
Key Challenges Hampering Growth Prospects for Herbal Medicines and Supplements
Risk Drug Interactions between Herbs and Conventional Drugs Challenge Market Prospects
Safety Assessment and Registration Requirements Restrict Herbal Medicinal Market
4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/jq4f0r
Global Market for Herbal Medicines
UBS's Colin Bristow raised his rating on the stock to Buy from Neutral, saying Well Street's expectations for sales of Mounjaro are too low.
The exclusive licensing agreement with GSK will fund Spero's (SPRO) existing operations and extend its current cash runway beyond 2024.
Less than five months after discouraging conversations with the U.S. Food and Drug Administration led Spero Therapeutics Inc. to pause work on a drug and lay off 110 people, the company is licensing that same drug to GSK plc for up to $291 million.
This drugmaker has earned two new drug approvals in as many months, but its success isn't reflected in its market valuation yet.
By David Bautz, PhD NASDAQ:VIRI READ THE FULL VIRI RESEARCH REPORT Financial Update On September 23, 2022, Virios Therapeutics, Inc. (NASDAQ:VIRI) announced the closing of a previously announced underwritten public offering of 10 million shares of common stock at a price of $0.50 per share. The company raised gross proceeds of $5.0 million before deducting underwriting discounts, commissions, and
Shares of Bristol Myers Squibb (NYSE: BMY) were bouncing 3.4% higher as of 3:31 p.m. ET on Thursday after slipping a little earlier this week. Instead, today's move appeared to be the result of investors seeking relatively safe stocks as the Nasdaq Composite index and Russell 2000 small-cap index fell. Bristol Myers Squibb has seemed to be sort of a safe haven for investors throughout much of 2022.
A respiratory virus that pops up every two years is causing an increase in pediatric hospitalizations in some parts of the country, according to the Centers for Disease Control and Prevention. The CDC said earlier this month that more children and teens tested positive for a type of enterovirus called EV-D68 in July and August of this year compared with the same two-month period in 2019, 2020 and 2021. It also said that hospitals in several U.S. regions had notified the agency in August about an increasing number of hospitalizations of pediatric patients who tested positive for rhinoviruses or enteroviruses.
The social media giant’s head of community operations apologised at the inquest into the teenager’s death on Thursday.
Evaxion (EVAX) enrolls the first patient in the phase IIb study evaluating its cancer therapy, EVX-01 in combination with Keytruda, for treating melanoma.
Shares of Spectrum Pharmaceuticals Inc. were down 22.0% in premarket trading on Friday, the day after a Food and Drug Administration committee voted 9-4 that the benefits of the company's experimental lung-cancer drug do not outweigh the risks. The FDA is not required to follow the committee's advice when deciding when to approve a new drug but often does. The regulator is expected to make its decision on or before Nov. 24. Spectrum on Friday also announced a five-year debt financing plan with S
Roche's (RHHBY) eye drug, Vabysmo and AstraZeneca's (AZN) asthma drug Tezspire get approval in Europe. The FDA approves expanded use of Lilly's (LLY) cancer drug, Retevmo.
Eli Lilly's blockbuster potential diabetes drug Mounjaro is "de-risked and transformative," an analyst said Thursday as he updated LLY stock.
OpSens Inc. ("OpSens" or the "Company") (TSX: OPS) (OTCQX: OPSSF), a medical device cardiology-focused company delivering innovative solutions based on its proprietary optical technology, today announced that Dr. Philippe Genereux, Director of the Structural Heart Program at Morristown Medical Center in New Jersey, and his team, performed the first use of SavvyWire in a transcatheter aortic valve replacement (TAVR) procedure in the United States.
Around one in five vaccinated Britons with Omicron or Delta strain experienced diarrhoea as a symptom
Regulatory and pipeline updates from BMY and GILD are the key highlights from the biotech sector during the past week.
‘I happen to be a practising Roman Catholic. My church doesn’t even make that argument now,’ president says of abortion bans
From biotech to managed care, companies are tackling new challenges in science and business. Our healthcare roundtable experts pick 12 stocks that could win.
Harriet Corr, seven, is regaining her strength after enduring years of coughing fits and a weakened immune system
Earlier this week Georgia Democratic gubernatorial nominee Stacey Abrams corrected a popular anti-abortion claim that a fetus has a heartbeat at six weeks of pregnancy. Abrams, who is running a campaign centered on abortion access to unseat Republican Gov. Brian Kemp spoke out against the medically incorrect term during a panel discussion in Atlanta on […]
A study quantifies how well the original vaccines and boosters work against the Omicron variant