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Herbal Medicine Market Share, Size,Growth, Segmenatation,
Outlook and Forecasts to 2024 | Hexa Research
“ The global herbal medicine market is expected to reach USD 117.02 billion
by 2024.”
28 November 2018
The global herbal medicine market is expected to reach USD 117.02 billion by 2024, driven by rising popularity of herbal
therapeutics compared to conventional drugs. The market for herbal medicines and remedies is anticipated to record
profitable growth due to their cost-effectiveness as compared to allopathic ones.
In 2016, Europe was the largest market for traditional medicines, contributing to 40.8% of the share and is expected to
retain its leadership during the forecast period due to shifting from conventional drugs to herbal products. Fewer side
effects and low toxicity compared to allopathy products are expected to provide a competitive advantage over other
medicines in the market. Additionally, ready acceptance of herbal products owing to its benefits is the key factor for
market growth and is expected to play a significant role in future.
Increased preference of complementary and alternative medicine (CAM) among others has resulted in the growth of
herbal medicines in Asia Pacific. Asia Pacific is expected to record the fastest CAGR of 6.8% over the forecast period.
Furthermore, Europe is anticipated to generate maximum revenue over the forecast period due to increasing awareness
created by various associations such as Association for Natural Medicine in Europe (AIME).
Browse Details of Report @ https://www.hexaresearch.com/research-report/global-herbal-medicine-market
Concerning product segment, tablets & capsules are expected to witness the fastest growth owing to
increasing acceptance of tablets over extracts and powders. Furthermore, properties such as high
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