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2020-03-09
830
Global
Global pharmaceuticals herbal extracts market has immense growth prospects all over the world since ancient times, majorly in the Asia Pacific region. The use of herbs and herbal extracts has been dominant across multiple health treatments. In China although western medicine was introduced in 16th century but it flourished only after 19th century. Till 19th century and even now traditional Chinese medicine (TCM) has significant place in the country. Further, the presence of variety of herbs coupled with herbal extraction method knowledge has led to growth of pharmaceutical herbal extract market all over the world. Globally the players of herbal extract market and advanced pharmaceutical industry have clubbed their expertise and knowledge to bring out new practices in the healthcare industry. Moreover, due to low success rate and huge capital investment need in the R&D of drugs, over the past few decades, the pharmaceutical researchers have shifted their focus on drug discovery through herbal extracts or botanical sources.
Further, global herbal extracts market is mounting at a CAGR of 7.09% during the forecast period 2017-2030. As per the recent market trends it has been noted that 80% of the world’s population use pharmaceutical herbal products in primary healthcare. Such market trends are leading the market to continue growth scenario.
By Extracts
By Form of extract
By Application
Based on Geography
A major trend in pharmaceutical herbal extracts market is the combining herbal medicine with nanotechnology. The nanostructured system is expected to increase the efficacy of plant extracts, reducing toxicity, dose and side effects (if any). Furthermore, the herbal drugs encapsulated with nanocarriers can also be used for the target site specific treatment through sufficient concentration during the whole treatment process, and bring out the effective therapeutic effects.
According to the report, major driving factor for the growth of pharmaceutical herbal extracts market is the availability of the herbs as per its application. The affordable equipment for extraction process, easy availability of the herbs and being cost efficient compared to the chemical based medicines are the major advantages while extracting the active ingredients from the herbs.
Further, the major challenge for the extraction is the standardization and quality control. The extraction is either single herb based or multiple herbs based. In multiple herbs extraction it is difficult to have the quality and quantity control. Standardization includes batch to batch consistency, correct amount of extract per unit. Standardization is difficult with the pharmaceutical herbal extraction compared to the chemical compositions.
Based on geography, North America accounted for 35.6% market share in 2017 of the global pharmaceutical herbal extracts market due to presence of top pharmaceutical companies in the region. Further, Asia-Pacific pharmaceutical herbal extracts market is growing with the highest CAGR of 8.7%, owing to the use of pharmaceutical herbal products since ancient times and the presence of large manufacturers of the pharmaceutical herbal extraction.
On the basis of application, western herbalism have the highest market share of 40.7% in 2017 of the global pharmaceutical herbal extracts market. Western herbalism is closely followed by TCM, which is growing at a CAGR of 7.7% during the forecast period.
The report covers the present ground scenario and the future growth prospects of the pharmaceutical herbal extracts market for 2017-2030 along with the import and export data of herbs and pharmaceutical herbal products. We calculated the market size and revenue share on the basis of revenue generated from major players and sales of pharmaceutical herbal extracts and products from major players across the globe.
Pharmaceutical herbal extracts market outlook 2017-2030, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the pharmaceutical herbal extracts market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global pharmaceutical herbal extracts market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Global pharmaceutical herbal extracts market report comprises of the following companies as the key players in the pharmaceutical herbal extracts market:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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