Herbal Medicine Market Trends Analysis, Size, Top Key Players, Overview, Industry Growth And Forecasts 2030
Herbal Medicine Market Overview The Herbal Medicine market is estimated to be valued at USD 1,29,689.3 million by 2023 and expected to grow at a CAGR of 5.88% during the forecast period. The growing prevalence of cancer and infectious diseases across the globe, improving healthcare infrastructure, and skilled professionals are driving the growth of hospital and retail pharmacies in the herbal medicine market. The hospital & retail pharmacies segment accounted for the largest market share of 55.82% in 2017. Various government organizations such as the National Institutes of Health (NIH) have increased the spending on the research of medicinal applications of various plants for the treatment of various chronic diseases such as cancer, arthritis, and many more. According to the National Centre for Biotechnology Information, the National Institutes of Health (NIH) spent USD 111,275,219 on all cannabinoid research in 2015. The increasing acceptance of herbal medicines globally a...