The Overview of Global Herbal Medicine Market

23/04/2019
          World Health Organization has defined herbal product as naturally occurring, plant-derived substance that have been used to treat illness and herbal medicines are raw, rarely modified, less processing plant-derived materials or products, inorganic or animal origin. They are from seeds, roots, leafs, spores or oil. Herbal medication has been presents over an extended period of time to treat diseases.
          The global herbal medicine market size was valued at USD 71.19 billion in 2016 and is expected to exhibit profitable growth over 7.2% (in 2017- 2023) or the value are estimated at USD 111 billion in 2023 The increase is attributed to the increasing preference of consumers towards traditional medicines such as Indian Ayurvedic Medicine, Traditional Chinese Medicine and Muslim’s Unani which do not cause overdose toxicity and have fewer side effects. Furthermore, governments from each country are increasing substantial research investments and funding will support the market growth.
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