Dublin, Ireland -- (SBWire) -- 06/27/2018 --With a prime focus on otc herbal and traditional medicines industry, research analysts of Fact. MR has publicized a comprehensive study to its online repository. This in-depth study is headlined as "OTC Herbal and Traditional Medicines Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022" which discusses the historic and current scenario of the global market, along with the future prospects it holds for a 10 year assessment period, 2017-2022. For the benefit of the investors of the report, this research focuses on the drivers and restraints anticipated to impact the demand for otc herbal and traditional medicines in the coming years. Along with these insights, the report provides the readers crucial insights on the strategies implemented by leading companies to remain in the lead of this competitive market.
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According to a recent research by Fact.MR, the global OTC herbal and traditional medicines market is estimated to exhibit a moderate expansion at a CAGR of 4.8% during the forecast period 2017 to 2022. The global market for OTC herbal and traditional medicines will account for revenues over US$ 20,000 Mn in 2017. Revenues from the market are further estimated to exceed US$ 30,000 Mn by 2022-end.
6 Predictions for the Global OTC Herbal and Traditional Medicines Market
1. Asia-Pacific excluding Japan (APEJ) will be dominant in the global OTC herbal and traditional medicines market in 2017, and is expected to retain its dominance and exhibit a steady expansion through 2022.
2. By 2022-end, North America will continue to be the second most lucrative market for OTC herbal and traditional medicines.
3. Japan is anticipated to remain the least lucrative market for OTC herbal and traditional medicines.
4. Based on function, Revenues from OTC herbal and traditional medicine sales for maintenance of the people's digestive health are estimated to account for largest revenues by 2022-end.
5. OTC herbal and traditional medicine sales for bone & joint health, and nutrition are estimated to register parallel expansion at a similar CAGR. However, revenues from nutrition segment is expected to remain comparatively higher than bone & joint health.
6. Modern trade OTC channel is expected to remain preferred among consumers for buying of OTC herbal traditional medicines.
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Modern Trade OTC Channel to Remain Sought-After among Consumers in the Global Market
Modern trade OTC channel will remain sought-after among consumers for purchasing of OTC herbal and traditional medicines, with sales expected to register a steady expansion through 2022. In addition, sales of OTC herbal and traditional medicines through online OTC channel will register the highest CAGR over the forecast period. Although, pharmacy OTC channel will account for a larger revenue share of the market, sales are anticipated to exhibit a sluggish expansion through 2022.
Powder dosage of OTC herbal and traditional medicines will continue to be preferred among consumers, with sales poised to surpass US$ 10,000 Mn by 2022-end. Between tablet and liquid dosage of OTC herbal and traditional medicines, tablet dosage will account for a larger revenue share, while sales of liquid dosage will exhibit a higher CAGR through 2022.
APEJ to Remain Dominant in the Global OTC Herbal and Traditional Medicines Market
Asia Pacific excluding Japan (APEJ) is anticipated to be dominant in the market in 2017, and the trend is expected to witness a steady growth through 2022. North America is estimated to be the second largest market for OTC herbal and traditional medicines by 2022-end. Japan will continue to be the least lucrative region in the global OTC herbal and traditional medicines market.
Based on function, sales of OTC herbal and traditional medicines in maintaining digestive health of people are expected to account for the largest revenues by 2022-end. Sales of OTC herbal and traditional medicines for nutrition, and bone & joint health are expected to exhibit a parallel expansion at similar CAGRs, however, revenues from sales for nutrition will remain comparatively higher than that from bone & joint health.
Competition Tracking
According to the report, the companies that will remain active in expansion of global OTC herbal and traditional medicine market include Amway Corporation, Herbalife International, The Himalayan Drug Company, Naturex SA, Blackmores Limited, Nutraceutical International Corporation, The Nature's Bounty Co., Bio-Botanica, Inc., The Bioforce Group, Ricola AG, Bionorica SE, Integria Healthcare Pty Ltd., Jiaherb Inc., Nutra Green Biotechnology Co., Ltd., Biovontrade SARL, Dabur India Ltd., Phytomed Herbal Solutions, and Medico Herbs.
Global OTC Herbal and Traditional Medicines Market to Witness Steady Expansion by 2017
The global market for OTC herbal and traditional medicines will account for revenues over US$ 20,000 Mn in 2017.