The global herbal medicine market was valued at USD 70.50 Billion in 2023, driven by the increasing acceptance of herbal solutions in chronic disease management across the globe. The market is anticipated to grow at a CAGR of 24.10% during the forecast period of 2024-2032, with the values likely to reach USD 492.19 Billion by 2032.
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Herbal remedies come from various parts of plants such as roots, stems, leaves, flowers, or seeds, and are used to enhance health and remedy ailments. Commonly used herbs are ginkgo, ginseng, ginger, turmeric, and chamomile. Plant species have been utilized for generations to provide remedies for human and animal illnesses. The global herbal medicine market is expanding, fueled by increasing consumer demand for natural remedies, wellness trends, and the rise of chronic diseases.
Increasing Potential of Herbal Solutions in Chronic Disease Management to Boost Market Growth
The increasing acceptance of herbal medicine in managing chronic diseases is a key driver of the market. A study published in August 2024 demonstrated Chinese herbal remedies' effectiveness in treating diabetic nephropathy (DN). Combined with Western medicine, herbs such as Cordyceps enhance outcomes by modulating lipopolysaccharide metabolism and sterol transport. This integrative approach emphasizes herbal therapies' ability to target multiple mechanisms, highlighting their potential in chronic disease management.
The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:
The market report offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Formulation
Market Breakup by Indication
Market Breakup by End User
Market Breakup by Distribution Channel
Market Breakup by Region
Segmentation Based on Type to Witness Substantial Growth
Based on the type, the market is segmented into ayurvedic medicine, Chinese medicine, aromatherapy medicine, naturopathic medicine, and others. Chinese medicine is expected to lead the global herbal medicine market because of its widespread acceptance and established clinical efficacy in treating chronic conditions like diabetic nephropathy. Moreover, the growing acceptance of traditional cures and governmental endorsement of herbal techniques continue to strengthen Chinese medicine's dominance in the market.
The market is divided into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe holds a high market value due to its extensive background in traditional herbal medicine, and the ongoing preference for using herbal remedies for maintaining health and treating illnesses. Moreover, Europe's stringent regulatory framework for herbal medicinal products further strengthens its market position.
The key features of the market report comprise patent analysis, grants analysis, funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:
Blackmores is a natural health company that offers a wide range of vitamins, minerals, herbal products, and nutritional supplements. They are a key player in the global herbal medicine market, offering a variety of herbal products such as supplements for sleep, digestive health, and stress relief. Their products are rooted in traditional Western herbal medicine practices, supporting natural wellness.
STADA, a pharmaceutical company, connects to the global herbal medicine market through its Natures Aid® brand...
Himalaya is a healthcare brand and a prominent player in the global herbal medicine market, known for innovati...
Integria Healthcare is a natural medicines company and a key player in the global herbal medicine market. The ...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the market include Better Being, Boiron Group, Young Living Essential Oils, and Mountain Rose Herbs.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Formulation |
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| Breakup by Indication |
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| Breakup by End User |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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