As per the report titled ‘Herbal Medicine Market Share, Size, Trends, Industry Analysis Report By Category; By Form; By Distribution Channel; By Regions, Segments & Forecast, 2020 - 2026’, available with Market Study Report, global herbal medicine market valuation is projected to reach USD 411.2 billion by the end of the forecast period 2020-2026.
 

According to the report findings, global herbal medicine market is primarily driven by rising support and funding from governments towards research and innovation. Moreover, easy availability of herbal medicines and high preference of the population towards them due to benefits like low cost with very little to no side effects are further enhancing the industry outlook. In fact, the National Center for Biotechnology Information claims that about 70% to 80% of the global population preferred traditional drugs for their treatment.
 

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Based on form, global herbal medicine industry share from tablets & capsules segment is anticipated to increase rapidly during 2020-2026. These are composed of fruits (milk thistle), roots & gloves (garlic), echinacea (leaves, roots, stalk), and chamomile (flower) among others. Wide availability of these products worldwide has made them a highly preferable raw material for drug production.
 

Elaborating on the distribution channels, hospital & retail pharmacies segment held majority of global herbal medicine market share in 2019, attributable to booming geriatric population and developing consumer consciousness.
 

Meanwhile, e-commerce distribution segment is expected to contribute significantly to global herbal medicine market remuneration owing to growing awareness regarding online retail outlets, rising penetration of smartphones & internet, and accessibility to a large product base at lower costs.
 

Considering the geographical scope, North America and Europe currently are the leading contributors to global herbal medicine market remuneration owing to rising governmental support and increasing burden of chronic diseases in these regions. Shifting preferences towards plant-based medications and increasing funding in R&D are also contributing to industry expansion.
 

Asia Pacific herbal medicine industry is expected to garner tremendous returns over the forecast timeline, largely creditable to soaring investments by India and China in R&D of better drugs originating from plants and herbs.
 

Prominent players influencing the global herbal medicine market trends are Willmar Schwabe India Pvt. Ltd., Arizona Natural Products, ZeinPharma Germany GmbH, Bayer AG, Dasherb Corp., Blackmores Ltd., Patanjali Ayurved Ltd., Venus Pharma GmbH, Himalaya Global Holdings Ltd., Hishimo Pharmaceuticals Pvt. Ltd., and Schaper & Brümmer among others.