Pharmaceutical and Medicinal Herbal Extracts Market Scope
Medical extracts are widely used in healthcare. These extracts have exceptional healing abilities and are therefore often used in various therapies. Some of the plants have massive healing and repairing properties. These properties can also be helpful for the human body. Therefore, pharmaceutical companies use medicinal herb extracts to develop new drugs. In addition, these extracts have little or no adverse effects on the human body, making them one of the best components for drug development. It is therefore the pharmaceutical industry that includes plant extracts in their medicines, which consequently fosters the growth of the global market for pharmaceutical and medicinal herbal extracts. In addition, herbal plants are easy to use and extracts are easier to develop. This helps pharmaceutical companies to reduce the cost of development of new drugs. This makes the pharmaceutical industry one of the leading users of medicinal herbal extracts and the main promoter of the global market for pharmaceutical and medicinal herbal extracts. In addition, some of the exotic plants are treated with aromatic treatments such as sauna and massage. These applications are also an important factor that is driving the growth of the global market for pharmaceutical and medicinal herbal extracts today. Based on these applications, exponential growth is forecast for the global market over a period of time.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Pharmaceutical and Medicinal Herbal Extracts market throughout the predicted period.
Gaia Herbs (United States), Green Earth Products Pvt. Ltd (India), Plant Extracts International Inc. (United States), Organic Herb Inc. (China), FT Technologies Ltd. (United Kingdom), Naturex (France), Maat Nutritionals (United States), Kingherbs Ltd. (China), Savesta Life (United States) and Bio-Botanica Inc. (United States) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
The study have segmented the market of Global Pharmaceutical and Medicinal Herbal Extracts market by Type (Capsule, Tablet, Powder and Others), by Application (Treatment, Massage and Medicines) and Region with country level break-up.
On the basis of geography, the market of Pharmaceutical and Medicinal Herbal Extracts has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On 16 March 2021, Gaia Herbs, a renowned natural herbal products company in the United States, has announced a new line of six mushroom capsule supplements to enhance whole-body health and wellness. Energy and stamina support, stress support, and support for optimal liver function are among the products designed to help preserve lung, immunological, heart, brain, and neurological health. The company is introducing its newest mushroom supplements, which are highly concentrated, employ 100 percent organic mushroom fruiting bodies (the above-ground part of the mushroom that has been used for thousands of years), and come in a convenient capsule style.
"As per U.S National Library of Medicine, Nation Institute of Health Herbal products have grown in popularity over the previous decade, and around 20% of the population currently uses them. Herbal goods are complex mixes of organic substances derived from any unprocessed or processed portion of a plant, such as leaves, stems, flowers, roots, and seeds. Herbs are classified as dietary supplements under the Dietary Supplement Health and Education Act (DSHEA) of 1994. Complements are defined as "anything that supplements the diet" under this rule. Vitamins, minerals, herbs, amino acids, enzymes, organ tissues, metabolites, extracts, and concentrations are all examples of supplements. Dietary supplements cannot claim to "diagnose, cure, mitigate, treat, or prevent illness," which is a fundamental distinction between drugs and supplements. It is worth noting that dietary supplement companies are authorized to make certain "structure/function" claims, which are generally vague health benefits claims."
- Rising Adoption Alternate Therapies Such As Homeopathy and Ayurveda
- Consumers Are Demanding Functional Food & Supplements for Regular Consumption
- The Rising Awareness Regarding the Side-Effects of Synthetic Flavors
- Health Benefits Offered By Phytomedicines and Herbal Extracts
- Growing Incidents of Illnesses Due To Stressful and Busy Lifestyles
- Increasing Preference As They Mainly Protect From Several Infections
- The Growth in R&D Activities in Pharmaceutical and Medicinal Herbal Extracts Market
- Growing Demand for Phytomedicines & Herbal Extracts Is Increasing Significantly In Various Applications, Including Skincare, Health Care, Functional Food, Nutraceuticals, and Cosmetics
- Inadequate Supply of Raw Materials
- Availability of Substitutes in Cheaper Rates
Key Target Audience
Providers of Pharmaceutical and Medicinal Herbal Extracts, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user