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New Delhi, Jan. 20, 2025 (GLOBE NEWSWIRE) -- The global herbal medicine market is set for significant growth, with revenues expected to rise from USD 205.2 billion in 2024 to USD 533.
6 billion by 2033, reflecting a strong CAGR of 11.2%. Key growth drivers include increasing demand for natural and plant-based products, the global recognition of traditional systems like Ayurveda and TCM, the rise of personalized healthcare, and the growing popularity of wellness tourism.
A recent study published in the World Journal of Pharmaceutical and Medical Research reveals that around 25% of prescribed drugs worldwide are plant-derived, with 121 active compounds currently in use. Furthermore, 11% of the 252 drugs on the WHO’s essential medicines list originate from plants, highlighting the critical role of herbal medicine in tackling global healthcare challenges. Download Free Sample Copy @ https://www.
astuteanalytica.com/request-sample/herbal-medicine-market The rising health challenges such as stress, obesity, and cardiovascular issues are accelerating consumer preference for natural products. The clinical effects of herbal medicine are increasingly getting validated by new research happening around the world.
Herbal medicines can be used right from relieving the symptoms of common cold and cough to improving quality of life (QoL) in cancer patients. As per a recent study published in the Asian Pacific Journal of Cancer Prevention, herbal medicine can significantly (p < 0.05) improve QoL in cancer patients.
Such real-world evidence is pivotal in growing the popularity of herbal medicine, leading to acceptance by the physician community as well. However, drug and herbal medicine interactions should be considered. Astute Analytica's research reveals a transformative trajectory for the herbal medicine market, driven by a surge in global health consciousness and the growing preference for plant-based remedies.
The COVID-19 pandemic highlighted global medicine shortages and disrupted healthcare systems, emphasizing the need for accessible and sustainable solutions, thereby reinforcing the importance of herbal medicine during health crises. The herbal medicine market is being hampered by inconsistent regulatory standards across regions. In the U.
S., herbal supplements face less stringent approval processes, rising quality concerns, while the EU and India impose stricter regulations, such as the THMPD and AYUSH guidelines, respectively. These varying requirements increase operational costs, complicate distribution, and create barriers for smaller companies, limiting the market’s potential for widespread adoption.
The lack of harmonized international standards further exacerbates these challenges. Despite these challenges, the market’s growth remains robust, with stakeholders—from manufacturers enhancing their portfolios to consumers seeking holistic solutions—poised to capitalize on this upward trend. As herbal medicine continues its evolution, the sector promises a thriving future, blending traditional practices with modern innovation to meet global wellness demands.
Key Findings in Herbal Medicine Market Innovation and Collaboration: Advancing the Global Herbal Medicine Market The market for herbal medicines is expanding dramatically due to large investments in R&D and strategic partnerships that combine traditional knowledge with contemporary scientific methods. Globally, institutions are prioritizing the exploration of medicinal plants and bioactive compounds, supported by landmark initiatives such as the $250 million WHO Global Centre for Traditional Medicine in India, which bridges traditional practices with modern healthcare. Complementing these efforts, organizations like the European Scientific Cooperative on Phytotherapy (ESCOP) have harmonized phytomedicine research, underscoring government and institutional commitment to innovation in this sector.
Strategic mergers and acquisitions are also reshaping the market, with leading pharmaceutical companies enhancing their portfolios. A standout example is Mankind Pharma's 2022 acquisition of Upakarma Ayurveda, leveraging robust distribution networks to expand offerings in natural and organic products. In addition, the market is embracing technological innovation.
Digital tools are accelerating herbal research, while sustainability-focused sourcing practices and personalized herbal medicine solutions cater to evolving consumer demands. Together, these developments signal a future where the herbal medicine market continues to thrive, combining tradition, innovation, and trust to meet global health and wellness needs. Ask For Customization @ https://www.
astuteanalytica.com/ask-for-customization/herbal-medicine-market Market Expansion: Expanding Horizons with Natural Remedies and Regional Influences As consumer tastes shift toward natural cures and holistic wellness solutions, the global market for herbal medicines is expanding rapidly. Aloe Vera, Cranberry, Cinnamon, Flaxseeds, and Echinacea all gain popularity for their various uses in wellness and dietary supplements, while products like Horehound, which are frequently used for respiratory health in herbal beverages and over-the-counter medicines, dominate important markets.
Additionally, Echinacea strengthens immunity, cranberries promote urinary tract health, and aloe vera is prized for its moisturizing and anti-inflammatory qualities. Due to its adaptability, cinnamon and flaxseeds are still used in both conventional medicine and nutrition. The market also reflects strong regional influences, with Asia and Europe driving demand through deep-rooted cultural practices and significant investments in traditional medicine systems.
Herbs like Ashwagandha are gaining rapid global traction as adaptogens that combat stress and enhance energy and immunity, aligning with the growing interest in natural mental health solutions. Moreover, western herbalism leads the market, driven by its widespread acceptance in North America and Europe, where plant-based remedies are favored as alternatives to pharmaceutical drugs. Meanwhile, Traditional Chinese Medicine (TCM) maintains a strong foothold, backed by its historical significance and increasing integration into Western healthcare systems.
The rise of wellness trends, such as holistic health and detoxing, and the integration of herbal products into modern lifestyle practices underscore the evolving demand for herbal medicine, making it a cornerstone of global health and wellness innovation. Recent Developments in Herbal Medicine The herbal medicine market has seen notable developments recently. In April 2024, Mitsui & Co.
, Ltd. acquired Eu Yan Sang International Ltd., a Singapore-based traditional Chinese medicine company, for $584.
6 million, strengthening its presence in the Asian market. Additionally, Traditional Medicinals in 2024 launched a new line of certified organic Stress Ease Teas, featuring blends for Focus, Immune, and Tension Relief, designed to support stress management using adaptogens and nervines. Earlier, in February 2023, FXB Rwanda and NIRDA launched the Phyto Social Enterprise (POSE) project to enhance herb-based medicine production for local and regional demand.
Simply Herbal also expanded its portfolio in December 2021 with the launch of its Divya Himalayan range, crafted entirely from pure, organic ingredients. Future Outlook: Capturing Growth Opportunities in the Herbal Medicine Market The herbal medicine market is poised for substantial growth, presenting a wealth of opportunities for manufacturers, healthcare providers, and investors aiming to shape the future of natural health solutions. Industry experts anticipate a surge in new product launches and increased investments in R&D, as traditional remedies continue to gain prominence in modern healthcare.
Collaborative efforts between pharmaceutical companies and academic institutions are accelerating innovation, with several research centers globally focusing on integrating advanced extraction technologies and exploring novel applications of herbal compounds in chronic disease management and personalized medicine. Additionally, macro trends like the rising demand for plant-based remedies, organic products, and traditional medicine systems (e.g.
, Ayurveda and TCM) are reshaping the herbal medicine market. Stricter regulations, wellness tourism, and holistic healthcare are driving innovation and expanding applications in preventive care and lifestyle management. By 2030, the market is expected to witness widespread integration of herbal products into mainstream healthcare systems.
Ensuring affordability, regulatory alignment, and sustainability will be critical for stakeholders to capture the immense growth potential of this dynamic market. The herbal medicine sector presents an inspiring growth story, rewarding those who innovate and collaborate effectively in this rapidly evolving space Key Players in Herbal Medicines Market 21ST Century HealthCare, Inc. Arizona Natural AYUSH Ayurvedic Pte Ltd.
Arko Pharma Blackmores Cultivator Natural Products Pvt. Ltd. Dabur Emami Limited Ginkgo BioWorks Herb Pharm Herbalife Nutrition Himalaya Drug Company Nature's Answer, LLC.
Nature's Way Products, LLC Nutraceutical Corporation Patanjali Ayurved Limited Sheng Chang Pharmaceutical Company Schaper & Brümmer Weleda ZeinPharma Germany GmbH Others Segments Covered in The Report By Products Ginseng Ashwagandha Flaxseed Ginko Cinnamon Cranberry Horsetail Horehound Yohimbe Black Cohosh Senna Echinacea Valerian Saw Palmetto Aloe Vera Biofl avenoid complex Milk Thistle Ginger Garlic Horny Goat Weed Red Yeast Rice Bromelain Others By Type Western Herbalism Ayurveda Traditional Chinese Medicine Others By Source Leaves Roots Flowers Stem Seeds Bark Others By Form Powders Liquids & Gels Tablets & Capsules Others By Application Pharmaceutical & Nutraceutical Inflammation & Pain Digestive Health Respiratory Health Skin Conditions Stress and Anxiety Immune Support Cardiovascular health Cognitive Function Hormonal Imbalance Others Food & Beverages Herbal teas and beverages Functional foods Personal Care & Beauty Products Anti-aging products Hair and scalp care By Distribution Channel Online Online Brand Stores eMarketplaces Offline Hospitals Retail Pharmacies Others By Geography North America Europe Asia Pacific Middle East & Africa South America Contact us about this report before purchase: https://www.astuteanalytica.com/inquire-before-purchase/herbal-medicine-market About Astute Analytica Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients.
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