Companies covered in herbal medicine market are KPC Products Inc. (California, U.S.), NEXIRA (Normandy, France), HISHIMO PHARMACEUTICALS (Rajasthan, India), Schaper & Brümmer GmbH & Co. KG (Salzgitter, Germany), Sydler Group of Companies (India), 21ST Century HealthCare, Inc. (Arizona, U.S.), Zoic Pharmaceuticals (Punjab, India), Herbally Yours, Inc. (Arizona, U.S.), Pharma Nord B.V. (Vejle, Denmark), NATURLAND (Gräfelfing, Germany) and more players profiled.
COVID-19 Impact:
Herbal Medicine Demand Surges due to Increasing Health Consciousness, the COVID-19 pandemic has affected healthcare and pharmaceutical supply chains significantly. Medicine shortage was experienced worldwide due to a significant spike in COVID-19-related hospital admissions. Additionally, R&D and drug manufacturing activities also experienced roadblocks during the pandemic.
However, herbal products experienced an upsurge as consumers became more conscious about their health and wellbeing. Increased focus on immunity has fueled the demand for various pharmaceutical and nutraceutical products with herbal ingredients. These factors have opened up new opportunities for market players during the pandemic period.
Emerging Demand for Natural Medicines and Cosmetics to Augment Growth
The Herbal Medicine Market growth is influenced by surge in product demand for medical purposes in developing countries. Herbal products are being widely used for almost all minor health complaints. Consumers are also shifting toward cosmetics and personal care products with natural and organic ingredients owing to greater safety. To capitalize on this trend, beauty and cosmetic brands are introducing newer product varieties with herbal ingredients. The aforementioned factors will drive the market demand significantly.
However, strict regulatory frameworks related to the import and use of herbal raw materials in food, pharmaceutical, and cosmetic applications could hamper the market development slightly.
Post time: Feb-09-2022
