Herbal medicinal product (HMP) are medicinal products which exclusively contain one or more herbal preparations or substances as active ingredients. The conventional medicinal products are mainly manufactured from synthetic materials, using reproducible production techniques and measures. However, herbal medicines are prepared from materials of herbal origin, which are often obtained from diverse commercial or geographical sources. The global herbal medicinal products market is estimated and forecasted in terms of revenue (USD million) generated by the herbal medicinal products market. The global herbal medicinal products market is gaining remarkable growth due to inclination of consumers from conventional medicines to traditional medicines (Ayurveda, Unani and Traditional Chinese Medicine) worldwide. Moreover, expanding customer interest for green label products coupled with increase in prevalence of liver and heart diseases are fuelling the market growth. Furthermore, the overall market is also being propelled by swiftly increasing demand from emerging countries such as China and India. Being the major markets for herbal medicinal products in the APAC region, these countries have a strong background of herbal medical, thus propelling the market growth. However, the global herbal medicinal products market is hampered by currency fluctuations and changing taxation policies. The report analyses the global herbal medicinal products market based on form, product type, distribution channel, indication and geography. Based on form, this market is segmented into capsules/tablets, powder, syrups, oils & ointment and others. Among all forms, the capsules/tablets accounted for the largest share of the herbal medicinal products market in 2017. Extensive availability of herbal products in capsule and tablet form coupled with ease of consumption drives the growth for this segment. Based on product type, this market is segmented into homeopathic medicines, Chinese medicines, ayurvedic medicines and aromatherapy products. The ayurvedic medicine segment dominated the global market in 2017 and is expected to dominate the market in the future. Favourable government regulations and development of new ayurvedic products would further boost the adoption of these products globally. Based on distribution channel, the global herbal medicinal products market is alienated into hospital pharmacies, retail pharmacies, e-commerce and others. Among all the distribution channels, hospital pharmacies segment is expected to dominate the market, followed by retail pharmacies and E-commerce. Furthermore, on the basis of indication, this market is categorized into digestive disorders, respiratory disorders, blood disorders and others. Digestive disorder segment is expected to grow at a lucrative rate over the forecast period owing to surging of herbal medicines for conditions such as indigestion, gastroesophageal reflux disease, and dyspepsia. Additionally, blood disorder segment is projected to generate maximum revenue due to increasing prevalence of hypertension. Rising popularity of ginger, garlic & ginkgo biloba and other such herbal products in the market are expected to fuel the market in coming years. By geography, the global herbal medicinal products market is studied across the countries of key regions such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2017, Europe dominated the global herbal medicinal products market, and is expected to retain the share during the forecast period as well. The Europe have observed noteworthy growth in the homeopathic medications, due to increased awareness and optimistic adoption of this treatment option. Moreover, high flexibility regarding the launch of these products in the Europe is a major factor boosting the market growth in this region. Furthermore, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The demand for herbal medicinal products is increasing in emerging markets such as China and India due to rising disposable income, improving medicinal standards and reforms in foreign policies. In India, the Ayurvedic medicine has been offering effective treatment options for respiratory system and digestive system since years. Additionally, the ongoing trend of traditional medication usage is expected to surge the growth of the market. Some of the key market players of the global herbal medicinal products market include Arkopharma SA, Bio Botanica, Inc., Blackmores Limited, Boiron Group, Himalaya Global Holdings Ltd., Integria Healthcare, MOUNTAIN ROSE HERBS, Nutraceutical Corporation, Sanofi-Aventis Healthcare PTY Ltd., STADA Arzneimittel AG, TSUMURA & CO. and Young Living Essential Oils among others. The players are concentrating on refining the quality of herbal products. Additionally, technological advancements such as improved extraction techniques and equipment are been deployed by global players as well as regional players, to maintain the product quality, thus rendering market sustainability.
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