The global herbal medicine market size was worth around $166B in 2021 and is predicted to grow to around $348B by 2028 with a compound annual growth rate (CAGR) of roughly 11.2% between 2022 and 2028, according to a Zion Market Research study.
Herbal medicines are healthcare-related products made from plants or botanicals used in the treatment of medical conditions, diseases, or to maintain healthy living. They have been in existence for centuries and are known for their healing capabilities. Some of the most common forms of herbal medicines include products like aloe vera which is widely used to treat psoriasis, burns, and osteoarthritis. They can be used in oral forms to treat constipation or gastritis. Another common herbal product is flax seed known for its cholesterol-controlling power and is a rich source of omega-3 fatty acids. Peppermint oil is globally used for digestive purposes like stomach problems, indigestion, nausea, and other bowel conditions. In the USA, the October 1994 Dietary Supplement Health Education Act does not mandate herbal medicine manufacturers to submit safety proof for the herbal products before being made available to the general public, however, the US Food & Drugs Administration department is required to monitor safety-related concerns once the product is available for selling purposes. As per the World Health Organization, more than 80% of the Asian population uses herbal medicines for their primary health. The use of these medicines is witnessed at a larger scale in patients suffering from chronic illnesses like diabetes, asthma, cancer, end-stage kidney disorders, and other medicinal issues. Herbal remedy use has a greater association with other external factors like age, ethnicity, gender, social, and education class. A lot of regions have their own regulatory bodies to administer if using herbal medicines can effectively provide better health. As per Cancer Research UK, there is no confirming evidence proving that herbal medicines can prevent, treat, or cure cancer. In many countries there are formal education and training institutes providing knowledge on understanding herbal medicines however, they lack uniformity within the country itself.
Get a Free Sample Report with All Related Graphs & Charts (with COVID 19 Impact Analysis): https://www.zionmarketresearch.com/sample/global-herbal-medicine-market