Herbal Medicine Market Share, Size, Trends, Industry Analysis Report By Category (Herbal Pharmaceuticals, Herbal Functional Foods, Herbal Dietary Supplements, Herbal Beauty Products); By Form (Tablets & Capsules, Powders, Extracts, Syrups, Others); By Sou

Herbal Medicine Market Share, Size, Trends, Industry Analysis Report By Category (Herbal Pharmaceuticals, Herbal Functional Foods, Herbal Dietary Supplements, Herbal Beauty Products); By Form (Tablets & Capsules, Powders, Extracts, Syrups, Others); By Source (Leaves, Roots & barks, Fruits, Whole Plants, Others); By Distribution Channel (Hospitals & Retail Pharmacies, E-commerce); By Regions, Segments & Forecast, 2020 - 2026

The global Herbal Medicine market size is expected to reach USD 411.2 billion by 2026 according to a new study by Polaris Market Research. The report “Herbal Medicine Market Share, Size, Trends, Industry Analysis Report By Category (Pharmaceuticals, Functional Foods, Dietary Supplements, Beauty Products); By Form (Tablets & Capsules, Powders, Extracts, Syrups, Others); By Source (Leaves, Roots & Barks, Fruits, Whole Plants, Others); By Distribution Channel (Hospitals & Retail Pharmacies, E-commerce); By Regions, Segments & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Increasing government support and funding amount for research and innovation is driving the market growth. Various factors such as low cost of the products, very less or no side effects of herbal medicine, rising usage by the global population and ease of availability will further aid in market growth over the forecast period.

Plant-based medications are the common treatment source for curing various diseases. According to the National Center for Biotechnology Information, between 70% to 80% of the population across the globe preferred traditional drugs for their treatment. Additionally, it has reported that consumer spending on conventional drugs increased to USD 7.5 billion. This rising demand will further boost the industry growth between 2020 and 2026.