Global Herbal Drugs Market Innovative Trends Implemented by Manufacturers Steering Growth until 2028
April 15, 2019 by Steve Blade
Herbal Drugs are the medicines which are derived from the plant extract, roots, leaves or flowers. Herbal drugs are basically are a type of dietary supplements. The culture of herbal drugs is very ancient and it comes from Chinese tradition. Doctor recommend the patients to consume herbal drugs to improve and maintain their health. Herbal drugs are over the counter drugs, hence do not require any prescription from the physician. Herbal drugs do not include in chemical ingredients, therefore, herbal drugs require fewer regulations for approval. But some herbal drug can harm a particular group of patients. Herbal drugs are available in various form including tablets, capsule, powder, syrup, and extract. Herbal drugs are used for the treatment of various disorders such as respiratory, orthopedic, cardiovascular and digestive.
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Herbal drugs have negligible side effects, therefore the severe side effect of allopathic medicines are rising the demand for Herbal Drugs Market. Due to this number of ayurvedic companies are focusing to manufacture and launch the herbal drug. Moreover, the high adoption of Ayurveda in Asia-pacific countries such as India and China will propel the growth of herbal drugs market. Additionally, the rising number of retail pharmacies focusing towards the sale and promotion of herbal products will also boost the revenue growth of the herbal drugs market. The manufacturing of herbal drugs is a costly process, therefore herbal drug available in the market have a high cost which is responsible for the sluggish growth of the herbal drugs market. Also, the treatment time by herbal drugs is much greater than allopathic medicines which gain deter the growth of herbal drugs market.
Herbal Drugs Market: Overview
The rising number of chronic disorder among the people is the primary factor behind the robust growth of the herbal drugs market. By form type, the tablet segment will dominate the herbal drugs market in term of value which is then followed by capsules. This is due to high preference consumer to toward the tablets and capsules. Herbal drugs are more often used for the treatment of digestive disorders, hence this segment will gain the maximum traction for herbal drugs market by indication. Among all end user, retail pharmacies segment will gain the maximum revenue share of herbal drugs market due to rising number retail pharmacies focusing toward the sale of herbal products.
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Herbal Drugs Market: Regional Overview
Asia-Pacific is the most lucrative market for Herbal Drugs owing to high adoption of Ayurveda in China and India. After Asia-Pacific, Europe region will gain traction for the global herbal drugs market due to the rising number of ayurvedic companies are focusing to manufacture and launch the herbal drug. Also, the availability of several retail pharmacies focused on herbal drugs in the U.K., Germany, and other European countries will gain traction for the herbal drugs market in Europe. The people in the U.S. and Canada prefer the allopathic medicine over the herbal drug, hence the North America region will gain less traction for herbal drugs market. The Middle East & Africa and Latin America are the fastest growing region for the global herbal drugs market.
Herbal Drugs Market: Key Players
Some of the key players found across the value chain of Herbal Drugs are Himalaya Drug Company, Arkopharman, Blackmores Limited , Dr. Willmar Schwabe India Pvt. Ltd.., Madaus GmbH, Tsumura & Co., Ricola AG, Zandu Pharmaceutical Works Ltd, Hamdard Laboratories, Sheng Chang Pharmaceutical Company, Dabur, Baidyanath Group, Patanjali Ayurved Ltd., China Herbs Company (U.S.), Nutraceutical International Corporation, Syndy Pharma, Surya Herbal Ltd., and others.
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