The global herbal medicine market is expected to witness a double-digit CAGR in the forthcoming period. The demand for herbal medicines is gaining positive traction due to patient demand for herbal therapy.
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The global herbal medicine market is expected to witness a double-digit CAGR in the forthcoming period. The demand for herbal medicines is gaining positive traction due to patient demand for herbal therapy. The market is thus growing exponentially. Herbal medicines have made to the headlines due to their features and result-oriented therapy. It is now looked with great significance for primary healthcare. Patients are now embracing herbal cure due to better compatibility with human body and low side effects. On contrary, all herbal medicines are less safe and may report in severe results. Since all herbal medicines are non-approved to demonstrate clinical competency and safety. As per the news, chamomile tea is found to have a strong control over diabetes.
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Incidences of liver and heart diseases, technological innovations, and product innovations have been recognized as the key factors that are projected to drive the Herbal Medicine market in the forecast period. Moreover, augmented awareness regarding the significance of herbal medicine in the treatment and prevention of disease is having a positive impact on the market growth. Also, factors such as population growth, R&D activities, and robust growth of the healthcare sector are likely to contribute greatly to the market growth. Lack of relevant research and low awareness level is expected to restrict the market growth.
The Herbal Medicine Market could be categorized based on product type, application, and geography. Geographical segmentation for herbal medicine market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa.
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The key players in the herbal medicine market include Tsumura, Schwabe, Madaus, Weleda, Blackmores, Arkopharma, SIDO MUNCUL, Arizona Natural, Dabur, Herbal Africa, Nature’s Answer, Bio-Botanica, Potter’s, Zand, Nature Herbs, Imperial Ginseng, Yunnan Baiyao, Tongrentang, TASLY, Zhongxin, and others. The leading manufacturers are taking up policies such as partnerships, mergers and acquisitions, and joint ventures to propel the inorganic market growth.
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