Herbal Medicine: Open Access

Market Analysis

The global herbal medicine market size was valued at USD 71.19 billion in 2016 and is expected to exhibit profitable growth over the forecast period. The increase is attributed to the increasing preference of consumers towards traditional medicines (Ayurveda, Unani and Traditional Chinese Medicine) which do not cause overdose toxicity and have fewer side effects. In addition, increasing substantial research investments and funding will support the market growth in near future.

Global herbal medicine market revenue, by product, 2014 - 2024 (USD Billion)

The global plant-derived products market is expected to gain momentum over the projected period due to the low cost of herbal medicines compared to allopathy. These drugs are witnessing significant consideration at a global level. For instance, in China, this form was used to treat severe acute respiratory syndrome (SARS). Increasing preference for cost-effective treatment options for various medical conditions such as cold & cough, kidney disorders, digestive problems and chest congestion is anticipated to enhance the further acceptance of these medicine forms worldwide.

The herbal plants with several medicinal properties are used to treat a variety of disease conditions. Furthermore, a single plant may contain many chemical constituents such as phenols, glycosides, polysaccharides, alkaloids, resins, and terpenoids which demonstrate therapeutic activities in more than one medical condition.

For instance, various polyphenolic compounds such as tannins, curcumin, flavonoids, and gallacatechins are considered to possess anti-cancer properties and are expected to gain popularity owing to increasing prevalence of cancer. Furthermore, high treatment cost of cancer coupled with pipeline programs revealing anti-cancer activities of plants is anticipated to increase the use of these in various therapies.

Herbal medicines are formulated in dosage forms such as tablets & capsules, powders, extracts, pastes, gels, and oils. Tablets & capsules provide dose accuracy compared to other dosage forms. Hence, the segment is expected to record the fastest growth over the forecast period. Poor regulatory framework across the globe and less number of institutes providing knowledge of herbal therapeutics due to lack of relevant research evidence is expected to hinder the market growth.

Target Audience:

• Herbals and Traditional Medicines industries

• Directors, CEO’s of Organizations

• Business Development Managers

• Chief Scientific Officers

• R&D Researchers from Herbals and Traditional Medicine Industries

• Professors, Associate Professors, Assistant Professors

• PhD Scholars

• Noble laureates in Herbals and Traditional Medicine

• Herbals and Traditional Medicine Professionals

• Research Institutes and members

• Supply Chain companies

• Training Institutes

Related Associations and Societies:

• American Holistic Medical Association

• European Herbal & Traditional Medicine

• Practitioners Association National Association

• European Traditional Chinese Medicine Association

• 6th Global Summit on Herbals and Traditional Medicine

  June 10-11, 2020

  Bangkok, Thailand