Herbal Pharmaceutical Market Overview
Indian pharmaceutical market
Indian pharmaceutical market
The herbal product market has been surging for so long, as herbal product has wide application in traditional medicine-
making practice, especially in the plant-based pharmaceutical industry. Apart from this industry, other traditional health centers such as Ayurveda, Unani, Siddha, Sowa-Rigpa, and homeopathy are creating a huge demand for herbal products. For farmers and for herb suppliers it is a great opportunity to earn a windfall profit by investing a moderate investment. For instance, spirulina manufacturer and moringa leaf powder manufacturer in India are gaining pace in the country owing to their rising demand.
And since ancient times, several popular herbs and shrubs were being used for treating severe and intense diseases are
Barberry, Liquorice, Bael, Isabgol, Atis, Guggal, Chandan, Senna, Baiberang, Jatamansi, and Madhunashini, Long Pepper, Brahmi, Kalmegh, Satavari, Kerth, Aonla, Ashwagandha, Chirata, Katki, Shankhpushpi, Ashoka, Giloe, Kokum, and Safed Musli. In 2019, herbal products demand was at their peak, but the medicinal plants demand rose by 50% and cultivation practices declined by 26%. Some of the pharmaceutical industries started
exploiting the medicinal plant's growth.
.
Indian pharmaceutical market,
Indian pharmaceutical market,
Indian pharmaceutical market,
Negative factors ensuring a low growth of the industry
The Indian herbal market was a low-growth rate industry up to two to three years ago, as more than 90% of the Indian population
relied on pharmaceutical products for treating their diseases and disorders. But, over the period of time, the rise in the health-conscious
population in the country has started seeking herbal medicines to treat their diseases. Hence, with the rising health awareness
among the population, the herbal market is gradually surging in the country.
Indian pharmaceutical market,
Moreover, let us jump into several factors affecting the market growth
Lack of processing techniques
Extremely limited Research and development department
less product quality control procedure
Unfavorable climatic conditions in the country.
COVID 19 IMPACT ON THE HERBAL PRODUCTS MARKET
Covid 19 pandemic was declared a life-threatening disease globally, which affected many pharmaceutical industries and small
traditional health centers as well. It was seen as a major disruption in the supply of medicines, and due to medicine shortages at
retail stores, people found it difficult or were unable to cure their diseases.
Hence, it was recommended to intake herbal-based medicines or raw herbs & shrubs to boost immune power.
Asian countries are known as houses of herbs that create a profitable situation for the Indian country.
Many Indian farmers or herbal medicine manufacturers have the top opportunity to earn a great profit.
Indian pharmaceutical market,
Indian pharmaceutical market,
Indian pharmaceutical market,
Some factors assuring a substantial growth of the herbal product market
Rising plant-based medicines in developed countries
Gradual increase of medicinal plant-based food supplement intakes in foreign countries by foreign population, especially in
European and other developed countries as well.
Huge demand in developing countries
In developing countries, such as China, India, Bangladesh, South Africa, and Vietnam. People opt for herbal medicine to
treat chronic diseases, like coughs & colds, gastrointestinal sickness, and further to cure pain conditions that are
rheumatic pain, joint pain, and stiffness.
Increasing herbal products demand in the cosmetic industry
Herbal products are gaining popularity in the cosmetic industry owing to the rising awareness of using natural
ingredient-made skin & hair care products in the market. Chemically made cosmetics use are being ceased underpinned
by their harmful effects. Vegetables & essential oils are herbal product items creating a huge demand in the market.
These herbally-made products are proven beneficial for skin and hair health.
Increasing purchase of the herbal flavored drinks
Many food manufacturers are entering the market coupled with the rising health-conscious
population in the country seeking herbal-flavored juices, drinks, and milk over chemically preserved artificial flavors.
Hence the use of raw herbs is increasing which is resulting in considerable growth of the herbal market in the country.
This is encouraging herbal products manufacturers to scale up their production and avail a chance to gain highly profitable amounts.
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