Fact.MR, in its new report, estimates the global OTC herbal and traditional medicines market to register a moderate 4.8% CAGR over the forecast period 2017 to 2022. The report anticipates revenues from the global OTC herbal and traditional medicines market to surpass US$ 30,000 Mn by 2022-end.
With the ongoing transformations in consumer healthcare sector, accredited to the introduction of traditional medicines in the course of contemporary medical treatment, demand for the herbal & traditional medicines has been on an impressive rise. Increasing concerns for synthetic drugs, which are taking a toll on consumers’ health, is anticipated to speed up the adoption of these medicines.
Surging inclination of consumers towards the traditional and herbal cure methodologies such as Ayurveda, Unani, and Yoga, is another potential growth driver of the OTC herbal & traditional medicines market. Digital advancements, which are consistently unlocking new horizons for online sales of these medicines is increasingly preferred by the consumers.
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Asia Pacific excluding Japan (APEJ), being the hub of natural cure methodologies, is projected to reign supreme at the global level in the OTC herbal & traditional medicines market and its supremacy is predicted to remain intact through 2022, followed by North America, reports Fact.MR. Aforementioned factors collectively are some of the robust growth drivers of the market, which is anticipated to register a striking CAGR of about 4.8% during the period 2017-2022.
OTC Herbal and Traditional Medicines Market: Crux of the Report
The prime aim of this in-depth study is to offer a decisive view on the OTC herbal & traditional medicines market, so as to equip the stakeholders of the market with reliable information. This brief study provides a holistic view on the OTC herbal & traditional medicines market for the period during 2017-2022. The estimation of the market has been carried out in terms of revenue (US$ Mn) and CAGR (%).
OTC Herbal and Traditional Medicines Market
increasing Concerns among Consumers about Integrity of Synthetic Drugs will Drive Demand for OTC Herbal and Traditional Medicines
Traditional and herbal systems of medicines have always played a crucial role in meeting the requirements of the global health care. According to the Ministry of AYUSH, India, a rising trend towards Ayurveda, Yoga, and Unani is being witnessed across the globe. Increasing concerns of consumers pertaining to the integrity of synthetic drugs has led them towards adoption of traditional and herbal medicines, creating huge opportunities for manufacturers.
By considering the scope of global OTC herbal and traditional medicines market, and provide an indepth analysis, Fact.MR’s report provides segment-wise analysis and forecast. The OTC herbal and traditional medicines market is categorized on the basis of function, dosage, OTC channel, and
region. Segmentation analysis offered is comprehensive, along with the detailed country-wise forecast offered on all parameters.
Geographically, the regions have been segmented into Middle East and Africa, Asia Pacific except Japan (APEJ), Japan, Europe, Latin America, and North America. An in-depth analysis on each of these geographies have been encapsulated in this report, besides a comparative analysis on the basis of function, OTC channel, and dosage.
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The report has also profiled leading players in the global market for OTC herbal and traditional medicines, which include Amway Corporation, Phytomed Herbal Solutions, Herbalife International, Biovontrade SARL, The Himalayan Drug Company, Nutra Green Biotechnology Co., Ltd., Naturex SA, Bio-Botanica, Inc., Nutraceutical International Corporation, The Nature's Bounty Co., Medico Herbs, The Bioforce Group, Jiaherb Inc., Ricola AG, Dabur India Ltd., Bionorica SE, Blackmores Limited,and Integria Healthcare Pty Ltd.
These brief insights will help the stakeholders of the market understand the key trends followed in the market, along with the business strategies followed by the competitors and formulate effective business strategies to meet their business objectives.
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Asia Pacific to Reign Supreme in the Global OTC Herbal and Traditional Medicines Market
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