Rising adoption of Traditional Herbal Medicines Driving Rhizoma Gastrodiae Tablets Market Growth: Fact.MR

NEW YORK, June 16, 2021 /PRNewswire/ -- As per the study by Fact MR, the rhizoma gastrodiae tablets market saw stellar growth in 2021, reaching the market valuation of US$ 60 Bn. Fact.MR also forecast that the rhizoma gastrodiae tablets market valuation will increase further between 2021 and 2031 at a compound annual growth rate (CAGR) of greater than 10%.

As per the World Health Organization, traditional medicines were found effective in treating severe acute respiratory syndrome (SARS) in China.

Around 80% of African population used various forms of herbal medicines for treating SARS. This garnered herbal medicines increasing attention in global healthcare industry.

Leading market players are eyeing developing economies like India, China, and Nigeria for expanding their market, which is in turn elevating the prospects for rhizoma gastrodiae tablets

According to the National Center for Biotechnology Information, about 2 million people die across the globe per year due to liver diseases.

Majority of the deaths are direct result of complications arising out of cirrhosis and remaining deaths are due to viral hepatitis and hepatocellular carcinoma.

Heavy alcohol ingestion on a global level has elevated the prevalence of alcohol abuse related liver diseases.

Large group of peoples are living with fatty liver and are at risk of liver diseases. Rhizoma gastrodiae tablets are finding its use in treating such diseases thus boosting its market demand.

"Increasing clinical research on introducing traditional plant based medicines in treating severely affected COVID-19 patients will fuel the market growth," said a lead analyst at Fact.MR.

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Key Takeaways

• The U.S. market is anticipated to grow at around 5% CAGR throughout the forecast period. Growth will be propelled by high demand of herbal medicines among younger populations and its high effectiveness in reducing inflammation.
• China is expected to remain at the center-stage of the global rhizoma gastrodiae tablets through 2031, owing to presence of large number of regional market players and production facilities.
• India rhizoma gastrodiae tablets market is expected to grow at a healthy pace at about 9% CAGR throughout the forecast period. Increasing number of registered ayurvedic medicine practitioners in the country along with growing concerns regarding side effects of allopathic medicines will influence the market growth in the country.
• Extensive use of gastrodia elata f. glauca rhizoma gastrodiae tablets in treatment of epilepsy, stroke and various other ailments will increase the demand for rhizoma gastrodiae tablets. The gastrodia elata f. glauca rhizoma gastrodiae tablets market is expected to grow at 10% CAGR till the end of forecast period 2021-2031.
• Rising incorporation of traditional herbal medicines in healthcare system in Africa to treat respiratory diseases like SARS will drive the rhizoma gastrodiae tablets market growth.
• Studies indicating the potential use of rhizoma gastrodiae tablets in reducing inflammation in patients suffering from COVID-19 will boost the market growth.

Prominent Drivers

• Increasing mortality rate due to chronic liver ailments like viral hepatitis is driving the rhizoma gastrodiae tablets market demand.
• Elevated consumption of alcohol across the globe led to increasing number of alcohol based liver disorder patients. Increasing cases of such disorders will boost the market growth.
• Rising consumer inclination towards herbal and plant based benefits owing to its lack of side effects is fueling the rhizoma gastrodiae tablets market growth.

Key Restraints

• Limited number of rhizoma gastrodiae tablets manufacturing facilities and high concentration of production plants in China is hampering the market sales.
• Stringent regulatory policies due to lack of evidence regarding effectiveness of medicines is restricting the market growth.
• Delay in new product launches due to difficulty in product clearance by government will hamper the market growth.

Discover more about the rhizoma gastrodiae tablets market with 132 figures and 25 data tables, along with the table of contents.

https://www.factmr.com/report/rhizoma-gastrodiae-tablets-market          

Competitive Landscape

Leading players operating in rhizoma gastrodiae tablets market profiled by Fact.MR are Zhaotong Huacheng Pharmaceuticals, Guangdong Luofu Shan National Pharmaceutical Co. Ltd., Beijing Tong Ren Tang, Guizhou Bailing Group, Guangxi Changzhou Natural Pharmaceutical Co. Ltd., Lanzhou Foci Pharmaceutical, Shaanxi Tianyang Pharmaceutical, Taiji Group Sichuan Mianyang Pharmaceutical, Tsumura & Co. and others.

Market players are prioritizing new product development to consolidate their market position. The market is dominated by Chinese manufacturers making it highly consolidated.

They are also engaging in forming strategic alliances, merger and acquisitions to expand their global reach while maintain a strong supply and distribution network.

For instance, Tsumura & Co. completed its Letter of Intent associated to Tianjin China Medico Technology Co. Ltd. in November 2019. The letter is intended to form a capital partnership to expand its traditional Chinese medicines business and maintain a steady flow of crude drugs supply.

More Valuable Insights on Rhizoma Gastrodiae Tablets Market

Fact.MR, in its new report, offers an unbiased analysis of the global rhizoma gastrodiae tablets market, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on in rhizoma gastrodiae tablets market on the basis of type (gastrodia elata f. glauca rhizoma gastrodiae tablets, g. elata bl. f. elta rhizoma gastrodiae tablets), distribution channel (hospital pharmacies, retail pharmacies, online pharmacies), across regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).

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Key Questions Covered in the Report

• How will rhizoma gastrodiae tablets sales expand until 2031?
• Which is likely to be the most promising market for rhizoma gastrodiae tablets?
• Which region is the most prominent growth contributor for rhizoma gastrodiae tablets?
• Which rhizoma gastrodiae tablets product is expected to generate most revenue?
• What are the key restraints for rhizoma gastrodiae tablets market?

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