According to a recent study titled ‘Herbal Medicine Market Share, Size, Trends, Industry Analysis Report By Category; By Form; By Source; By Distribution Channel; By Regions, Segments & Forecast, 2020 - 2026’, available with Market Study Report, worldwide herbal medicine market is expected to register significant returns during 2020-2026, subsequently accounting for USD 411.2 billion by the end of the forecast duration.
 

As per the report findings, growing consumer inclination towards organic & natural products, and rising government support & funding for research and innovations are impelling global herbal medicine market growth. Besides, factors like low product cost, minimal to zero side effects, and easy availability are accelerating the consumption of herbal medicines.
 

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For those unfamiliar, plant-based medications are widely used treatment source for curing several diseases. In fact, 70% to 80% of the global population preferred traditional drugs for treatment, claims United States’ National Center for Biotechnology Information. In addition, trusted sources cite that consumer expenditure on conventional drugs has climbed to USD 7.5 billion, indicating a positive outlook for global herbal medicine industry in the coming years.
 

Based on category, herbal pharmaceuticals in global herbal medicine market held majority share in 2019 and is expected to witness modest gains in the coming years. Rising consumer cognizance and expanding geriatric population are driving the segment growth.
 

In terms of form, tablets & capsules segment in global herbal medicine market is reckoned to grow significantly during 2020-2026. Herbal tablets and capsules are made from natural products like leaves, fruits, cloves, and roosts. Widespread availability of these products across the globe drives the segment growth. When it comes to the source segmentation, leaves segment is projected to secure a considerable market share over the analysis period.
 

Speaking of the distribution channel, e-commerce segment is anticipated to contribute significantly to global herbal medicine market revenue by the year 2026. Rising consumer awareness about online pharmaceutical retailers, increasing usage of smartphones & internet, easy accessibility, and low-cost offerings are driving the sales of herbal medicines through e-commerce platforms.
 

On the geographical front, Asia Pacific herbal medicine market is expected to showcase strong growth trends over the projected timeline, attributable to heavy investments by India and China towards R&D of better herbal and plant- based drugs.
 

At present, North America and Europe account for a considerable portion of global herbal medicine market share. Growing acceptance of medicinal herbs and plants, increasing government support, rising burden of chronic diseases, and increased R&D investments are contributing to the industry expansion in these regions.
 

Prominent industry players are Arkopharma Laboratories Co., Ltd., Dabur India Ltd., Beovita Vital GmbH, Dr. Willmar Schwable India Pvt. Ltd., Arizona Natural Products, ZeinPharama Germany GmbH, Bayer AG, Dasherb Corp., Blackmores Ltd., Patanjali Ayurved Ltd., Venus Pharma GmbH, Himalaya Global Holdings Ltd., Hishimo Pharamaceuticals Pvt. Ltd., and Schaper & Brümmer GmbH & Co. KG.