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Market Analysis on Traditional Medicine

Arman Zargaran


Assistant Professor, Department of Traditional Pharmacy, School of Persian Medicine, Tehran University of Medical Sciences, Tehran, Iran, E-mail: [email protected]

Visit for more related articles at Diversity & Equality in Health and Care

Global Herbal Medicine market is expected to grow at a CAGR of 7.2% during Period of 2017 to 2023.Herbal medicines are a kind of dietary supplements extracted from different parts of the plant extracts such as leaves, bark, seeds, berries, and roots. Herbal medicines are available in various dosage forms such as tablets, extracts, dried plants, and other forms. A customary medicinal services routine of indigenous individuals relating to human health is named as Ethnomedicine. The learning of specific herbs, creatures and minerals that have corrective and comforting impacts were transmitted starting with one era then onto the next and it is the result of striking experimentation through experimentation technique over many years. Ethnomedicine is the mother of every other arrangement of prescription, for example, Ayurveda, Siddha, Unani, Nature cure and even advanced medication. The conventional cultivators are a vital part of the group and are frequently acquainted with the points of interest of every family and its environs, so they are in a superior position to manage their everyday issues. Actually the local healers deal with the normal diseases of the people in their home setting. The traditional healers specialize in particular areas of their profession. Thus we find some medical practitioners are expert in bone setting, wound healing, poisonous bites, neurological disorders, etc. and some others in spiritual healing, especially the use of chants while others combine both in their treatment. It is important to note that there is no doubt about the efficacy of herbal medicine among its users. In India, poor peoples of rural and urban area mostly depend on herbal remedies since these are within their reach. In fact in remote areas this is the only source of health care available.

Today, key research space include medical technologies, genetics and genomics, bioethics, disability studies, health tourism, gender-based violence, infectious disease outbreaks, substance abuse, and more. These might include comparative studies of health care in rural versus urban spaces in the same country, or combine traditional in-person fieldwork living in a particular place with digital research of social media communities.

The sector fitness employer (WHO) in collaboration with the Cameroon authorities has put in place a strategic platform for the practice and development of Traditional Medicine in Cameroon. This platform objective at harmonizing the conventional medication practice inside the U.S create a synergy among Traditional Medicine and current medicinal drug and to institutionalize a extra harmonized included Traditional Medicine practices by means of the year 2012 in Cameroon. A top level view of the exercise of Traditional Medicine past, present and destiny views that underpins the function in sustainable poverty relief has been mentioned.

This take a look at gives an insight into the strategic plan and avenue map installation through the authorities of Cameroon for the organisational framework and studies platform for the practice and improvement of Traditional Medicine, and the worldwide partnership concerning the control of Traditional Medicine in the USA.

Globally Top Universities

• University of Bridgeport, USA

• University of Westminster, London,UK

• Think Education Group, Australia

• Australasian College of Natural Therapies (ACNT), Australia

• University of Sains Malaysia (USM),Malaysia

• Cork Institute of Technology, Ireland

• London Metropolitan University, UK

• Australian Institute of Holistic Medicine, Australia

• Nature Care College, Australia

• Bastyr University, USA

• New York College of Health Professions, USA

• Southwest Acupuncture College, USA

• Mohammed bin Rashid University of Medicine and Health Science

• Tianjin University of Traditional Chinese Medicine

• Shandong University of Traditional Chinese Medicine

• The European Academy of Ayurveda, Germany

• Arab American UniversityAustralasian College of Natural Therapies (ACNT)

Research Centres having Medicinal Practices Worldwide

• Tang centre of herbal medicine research, Chicago

• Beijing Medical Research Kundawell Institute

• National centre for complementary and integrative health

• Central Research Institute of Unani Medicine

• Yadam institute of research

• Arava institute research centres

• Shanghai International Cooperation Centre of Traditional Medicine

• Therapeutic research centre

• Drug and herbal research centre

• Natural medicine research centre

Globally Top Associations related to Herbal and Traditional Medicine

• American Botanical Council, United States of America

• American Chinese Medicine Association, United States of America

• Asia Herb Association, Thailand

• Association of Acupuncture Practitioners, Denmark

• Associazione Italiana Agopuntura, Italy

• Australian Traditional Medicine Society, Australia

• Ayurveda Medical Association of India, India

• British Herbal Medicine Association, United Kingdom

• Center for Food and Biomolecules, Taiwan

• Chinese Medical Association, China

• Chinese Herbs and Biotech Development Association, Taiwan

• Consortium for Globalization of Chinese Medicine, Hong Kong

• GP-TCM Research Association

• Herb Federation of New Zealand, New Zealand

• Herb Research Foundation

• Malaysian Association of Traditional Indian Medicine, Malaysia

• Nederlandse Vereeniging voor Acupuntuur, Netherlands

• Northeast Herbal Association, America

• Ontario Herbalists Association, Canada

• Public Health Foundation of India, India

• Swedish Acupuncture Association

• Schweizerische Arztegesellshaft fur Akupunktur, Switzerland

• Swiss Professional Organization for Traditional Chinese Medicine, Switzerland

• Taiwan Association for Food Protection, Taiwan

• Taiwan Association for Traditional and Complementary Medicine, Taiwan

• The Association of Traditional Chinese Medicine and Acupuncture, United Kingdom

• The Australian Plants Society, Australia

• The Ayurvedic Practitioners Association, United Kingdom

• The Herb Society, United Kingdom

• The International Herb Association

• The Northern Ireland Association of Traditional Chinese Medicine, Northern Ireland

• Traditional Chinese Medicine Association of British Columbia, Canada

• Association of Traditional Chinese Medicine and Acupuncture, UK

• European Herbal & Traditional Medicine Practitioners Association

• British Holistic Medical Association

• European Ayurveda Association (EUAA)

• Chinese Herbs and Biotech Development Association, Taiwan

• Center for Food and Biomolecules, Taiwan

• Associazione Italiana Agopuntura, Italy

Worldwide Societies having Medicinal Practices

• Traditional Medicine Society, MIT

• American ayurvedic society

• World Federation of Chinese medicine societies

• World Federation of Acupuncture Societies (WFAS)

• Greece-Arabic Medicine Society Inc.

• Iranian Medical Society

• Saudi Pharmaceutical Society

• American Society of Acupuncturists

• Emirates Society of Emergency Medicine (ESEM)

• Australian Traditional Medicine Society

Industries involved Manufacturing

Traditional Medicine Worldwide

• The Himalaya Drug Company

• Viswakeerthy Ayurvedic Pharmacy

• GlaxoSmithKline

• Schering-Plough

• Bayer

• Bakson Drugs & Pharmaceuticals Pvt. Ltd.

• Dr. Willmar Schwabe. Germany

• Similia Homoeo Laboratory


• Julphar Gulf Pharmaceutical Industries

• Manufacturers

• Kuwait Saudi Pharmaceutical Industries Co.

• Antah Healthcare Group

Global Market Value of Plant Derived Drug

BCC research analyses Global market value for botanical and plant-derived drugs will grow from $29.4

Global Market Value for Dietary Supplements

Permitting to BCC research, global market growth rate for over the counter (OTC) drugs and dietary supplements reached $164.7 billion in 2016 and must reach $220.8 billion in 2021, with a compound annual growth rate (CAGR) of 6.0%.

Improvement Market Analysis

The Traditional and Alternative Medicine (TAM) market has been upgraded by increasing demand for


billion in 2017 to around $39.6 billion by 2022 with a compound annual growth rate (CAGR) of 6.1% for the period of 2017-2022.

Global Market Value for Nutraceuticals

Annual global Nutraceuticals market should extent $285.0 billion by 2021 from $198.7 billion in 2016 at a compound annual growth rate (CAGR) of 7.5%, from 2016 to 2021.Global market trends to analyze data from 2015, estimates for 2016 and projection of CAGR through 2021.

natural alternative medicines. The constraint connected with conventional medicines is growing with the changes in lifestyle. Consumer approach of the health benefits of Traditional & Complementary Medicine is undergoing fundamental changes. The Traditional & Complementary Medicine industry has a boom in recent years. The potency of Traditional & Complementary Medicine in both health prevention and treatment has attracted investments from Western pharmaceutical companies as well as venture financiers. In China, Japan, Korea, Southeast Asia and the Asian societies in North America, the Traditional & Complementary Medicine market ranges from US$6 billion to US$20 billion depending on the source. With double-digit development in the past years and habitual over the next few years, and more and more studies on Traditional & Complementary Medicine appearing in first-class international magazines such as Nature, and the Journal of the American Medical Association, the World Health Organization (WHO) has projected that the global market for herbal products would be worth US $5 trillion by the year 2050.

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