Herbal medicine--also called botanical medicine or phytomedicine refers to using a plant's seeds, berries, roots, leaves, bark, or flowers for medicinal purposes. Herbalism has a long tradition of use outside of conventional medicine. It is becoming more mainstream as improvements in analysis and quality control along with advances in clinical research show the value of herbal medicine in the treating and preventing disease. Traditional herbal medicines are naturally occurring, plant-derived substances with minimal or no industrial processing that have been used to treat illness within local or regional healing practices.
According to the new market research report “Herbal Medicine - Global Market Insights and Sales Trends 2024”, published by QYResearch, the global Herbal Medicine market size is projected to reach USD 230.63 billion by 2029, at a CAGR of 6.0% during the forecast period.
- Global Herbal Medicine MarketSize(US$ Million), 2018-2029
Source: QYResearch, "Herbal Medicine - Global Market Insights and Sales Trends 2024”
- Global Herbal Medicine Top23Players Ranking and Market Share（Based on data of 2021, Continually updated）
Source: QYResearch, "Herbal Medicine - Global Market Insights and Sales Trends 2024”
The global key manufacturers of Herbal Medicine include Yunnan Baiyao, Tsumura, Tongrentang, TASLY, Zhongxin, Schwabe, Kracie, Sanjiu, Kunming Pharma, JZJT, etc. In 2020, the global top 10 players had a share approximately 5.0% in terms of revenue.
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