Chitrarekha A. Jadhav, Dattaprasad N. Vikhe, R. S. Jadhav
firstname.lastname@example.org , email@example.com , firstname.lastname@example.org
Chitrarekha A. Jadhav1*, Dattaprasad N. Vikhe1, Dr. R. S. Jadhav2
Department of Pharmacognosy, Loknete Dr. Balasaheb Vikhe Patil (Padmabhushan Awardee) Pravara Rural Education Society’s, Pravara Rural College of Pharmacy, Pravaranagar- M.S. 413736.
Volume - 12,
Issue - 4,
Year - 2020
In the present article, an endeavor has been made to present an overview of contribution of herbal drugs to global market from various countries. Herbal medicinal products are getting global importance because of their health benefits. Their demand is going to increase because of increased and domestic interest of consumers in natural products as they are considered safer and more cost effective than synthetic drugs in many occasions. According to World Health Organization (WHO) about 80% population of most developing countries still rely on traditional herbal medicines for their primary health care needs. Overall international trade in medicinal plants and their products was US$ 60 billion in 2010 and is expected to reach US$ 5 trillion by 2050. In Asia, the demand of herbal market had almost doubled during late 1990’s due to increase in population. Global Nutraceuticals Market has been projected to rise at over 8.3% per annum to reach US$ 30 billion in 2015. A large number of food and pharmaceutical companies are active in the field because they consider that the nutraceuticals market has promising growth potential. This shows that there is tremendous demand for herbal products and there is need to maintain standardization of herbal products for its toxicity due to heavy metals, excessive or banned pesticides and microbial contaminants, chemical toxins produced due to unfavorable storage, improper storage as well as unfavorable storage conditions.
Cite this article:
Chitrarekha A. Jadhav, Dattaprasad N. Vikhe, R. S. Jadhav. Global and Domestic Market of Herbal Medicines: A Review. Research J. Science and Tech. 2020; 12(4):327-330. doi: 10.5958/2349-2988.2020.00049.2
Chitrarekha A. Jadhav, Dattaprasad N. Vikhe, R. S. Jadhav. Global and Domestic Market of Herbal Medicines: A Review. Research J. Science and Tech. 2020; 12(4):327-330. doi: 10.5958/2349-2988.2020.00049.2 Available on: https://rjstonline.com/AbstractView.aspx?PID=2020-12-4-19
1. Albany NY. Global Nutraceuticals Market – Nutraceuticals Ingredients Market Will Reach USD 29.5 Billion and Nutraceuticals Products Market Will Reach USD 204.8 Billion in 2017: Transparency Market Research. 13 March 2013.
2. Albany. Nutraceuticals Product Market Is Expected to Reach USD 204.8 Billion Globally in 2017: Transparency Market Research. Prweb. 25 June 2013
3. Anonymous, 1996, All India Ayurvedic Drug Manufactures Association, Personal Communication.
4. Asoka Hettigoda. Herbal market will hit $ 5 trillion. 9 September 2007.
5. Austin. Herb Sales Up 3.3% in United States in 2010. American Botanical Council. 19 May 2011.
6. Bernama, 1999, Tapping Multi-billion Ringgit Herbal Industry, Borneo Post, 11 Oct. 1999.
7. Bhowmik D, Sampath Kumar K.P., Tripathi P, Chiranjib. B. Traditional Herbal Medicines: An Overview. Archives of Applied Science Research, 2009;1 (2): 165-177.
8. Brandt F.S., Cazzaniga A., Hann M., Cosmeceuticals: Current Trends and Market Analysis. Seminar in cutaneous medicine and surgery. 2011; 30(3):141-3.
9. Brown, R., 1998, The Natural Way in Cosmetics and Skin Care Chemical Market Reporter, 254 (2), pp. 8-9.
10. Business Communications Company Inc., 1998, Plant Derived Drugs: Products, Technology, Applications, Report No. 13-121, Biotechnology and Health-Care Publications, Business Communications Company Inc., USA
11. Cam Tuyen. VN fails to tap herbal medicine market. Vietnam news 28January 2010.
12. Eisenberg D.M., Davis R.B., Ettner S. L., Appel S., Wilkey S., Van Rompay M., Kessler R.C. Trends in alternative medicine use in the United States, 1990–1997. Results of a follow-up national survey. J. Am. Med. Assoc. 1998; 280:1569-1575.
13. Export and Import: India stands world’s 2nd leading exporter of Ayush, herbal products; October 27, 2012
14. Freedonia Group Inc., 2001(a), Nutraceuticals, Study No. 1359, Nov. 2000, Cleveland, USA.
15. Global Herbal Medicine - The market estimate. 31 January 2012
16. Global Nutraceuticals Market to Reach $250 Billion by 2018. 6 July 2012. Nutraceuticals world.
17. Govt. of India, 2000, Medicinal Plants Introduction, Indian System of Medicine and Homoeopathy (ISMH), Department of ISMH, Ministry of Health and Family Welfare, Govt. of India.
18. He Shan-An and Sheng Ning. Utilization and conservation of medicinal plants in China. FAO Corporate Document Repository.
19. Herbal Dietary Supplement Retail Sales Up 4.5% in 2011. Press Releases, News Archive.
20. American Botanical Council.
21. Herbal Dietary Supplement Retail Sales Up 5.5% in 2012. American Botanical Council.
22. James, A.S., 1999, Key Players in the Global Functional Foods Industry, Leatherhead Food Research Association, Leatherhead International Ltd., Leatherhead, UK. Joshi K. Indian Herbal Sector. India, Science and Technology, 2008
23. KIT: Traditional Indian medicine systems Strategic tools for the practicing manager. Business standard.
24. Kochhar SL. Tropical crops: A textbook of economy botany. Macmillan Pub Ltd. London 1981; 268-71.
25. Kroll, D., 1997, Functional-Designer Foods and Beverages: Trends and Developments for Marketers, Business Communications Co. Inc., Norwalk, USA.
26. MaSiuMan. Herbal Market. November 2012
27. Melissa Meyer. Claim that traditional medicines will be tested is churnalism not journalism. Africa check. 6 June 2013. Nutraceuticals Product Market: Latin America Market Size, Segment and Country Analysis and Forecasts (2007-2017), February 2012. Research and Markets.
28. Okada F. Kampo medicine, a source of drugs waiting to be exploited The Lancet, 1996; 348(9019) :5-6. Peet, M., 1999,
29. Pharmabiz, 2001, Chemexcil Targets Rs 4,000 Crore Herbal Product Exports, News and Features, Export and Import, 14 Feb. 2001.
30. Regional progress in traditional medicine 2011-2010 (June 2012). Traditional medicine. World Health Organization.
31. Schultz H. supplement sales hit US 11.5 billion in U.S., report says. 20 September 2012.
32. Simon Pitman. Global Cosmeceuticals market set for big growth. Cosmetics design. 20 February 2013.