Global Traditional Chinese Medicine Market Forecast to 2030
The Global Traditional Chinese Medicine Market research report is a complete document that explains the most recent breakthroughs and advancements in the Traditional Chinese Medicine industry, using 2019 as the base year and 2022–2030 as the forecast year. The analysis offers insightful data on the market's size, share, sales channels, distribution networks, market segmentation, consumer demands and trends, and growth prospects. The expansion of the regional and global markets is also examined in the study. In the paper, the effect of the COVID-19 pandemic on the market for Traditional Chinese Medicine and its important sectors is studied.
The Traditional Chinese Medicine (TCM) market size reached USD 18.8 Billion in 2021 and is expected to register a revenue CAGR of 11.9% during the forecast period according to the latest analysis by Emergen Research. In developing countries in the Asia Pacific and East Asian areas, there has been rise in demand for affordable traditional Chinese medicines as a result of high demand from the local pharmaceutical industry. The 3,000 active traditional Chinese medicine processing businesses are expected to increase their manufacturing capacity as a result of infrastructure projects such as the Belt and Road Initiative and foreign traditional Chinese medicine centers. Demand for effective formulations of traditional Chinese medicine is rising, although at a slower rate in industrialized economies than in emerging ones, according to trends.
However, research and development (R&D) efforts using novel formulations in CNS disorders to modify behavioural aspects are hampered by the lack of clear guidelines for the production and approval of traditional Chinese medicines. Additionally, clinical assessment of the pharmacokinetics and dynamics of herbal remedies is not well established due to the broad variety of formulations used in herbal medicines. In the current regulatory framework, if a New Drug Application (NDA) fails, the herbal extract and Active Pharmaceutical Ingredient (API) both fail, even if it is unrelated to or not caused by excipients.
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Competitive Landscape:
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
Key Companies Profiled in the Report:
Zhongxin Pharmaceuticals, Solstice Medicine Company, Inc., China Chinese Medicine Holding Co., Ltd., Tongrentang, Tianjin Tasly Group, Shanghai Sundise Traditional Chinese Medicine Co., Ltd, Yuannan Baiyao, Pfizer Inc., Hunan Goldliloo Pharmaceutical Co., Ltd, and Chengdu Qiankun Veterinary Pharmaceuticals Co., Ltd.
Market Dynamics:
The report offers insightful information about the market dynamics of the Traditional Chinese Medicine market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Traditional Chinese Medicine market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Traditional Chinese Medicine market.
Radical Highlights of the Traditional Chinese Medicine Market Report:
- Comprehensive overview of the Traditional Chinese Medicine market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on the Traditional Chinese Medicine market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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Some Key Highlights From the Report
- The acupuncture segment registered largest revenue share in 2021. Revenue growth of the segment is expected to be driven as a result of adults increased levels of stress brought on by their hectic schedules. Pain management is one of acupuncture's key benefits. The technique can reduce neck and back pain as well as joint discomfort. This is a non-drug approach to managing typical pain problems. Furthermore, it can reduce inflammation in the affected areas. Patients with migraines and chronic headaches who don't wish to use prescription medications in their treatment plan may find relief with acupuncture sessions.
- The Attention Deficit Hyperactivity Disorder (ADHD) segment accounted for largest revenue share in 2021. TCM is one possible ADHD treatment that has had effectiveness with some ADHD-affected children. In TCM, a number of Chinese herbs are blended together and taken as capsules. Chinese medicines are less likely to have side effects and lead to dependence than modern ADHD medication. Poria, red jujube, Chinese thorowax root, and skullcap root are a few examples of these.
- The market in North America registered largest revenue share in 2021. The regional market is expected to contribute significantly to revenue growth of the market owing to increasing public awareness of TCM and rising demand for healthcare providers. In addition, it is expected that increasing consumer awareness of TCM's benefits and rising demand for natural and organic products would further drive revenue growth of the market in the region.
- On 6 September 2020, Tongrentang and Yonyou entered into an agreement to build a digital platform. In the collaboration, the two parties will work together to create a digital operation platform with the goal of enhancing the company's operational performance and efficiency and becoming a symbol of digital empowerment within the Chinese medicine sector.
Traditional Chinese Medicine Market Segmentation:
Market Overview:
The report bifurcates the Traditional Chinese Medicine market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Therapy Type Outlook (Revenue, USD Billion; 2019–2030)
- Herbal Medicine
- Cupping Therapy
- Compounding Therapy
- Magneto Therapy
- Aroma Therapy
- Moxibustion
- Acupuncture
- Others
- Disease Type Outlook (Revenue, USD Billion; 2019–2030)
- Autism Spectrum Disorder (ASD)
- Attention Deficit Hyperactivity Disorder (ADHD)
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Rest of Europe
- China
- India
- Japan
- South Korea
- Rest of APAC
- Brazil
- Rest of LATAM
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of MEA
Regional Segmentation;
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the Traditional Chinese Medicine Market report is an exhaustive database that will help readers formulate lucrative strategies. The Traditional Chinese Medicine Market report studies the latest economic scenario with value, drivers, constraints, growth opportunities, challenges, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to study the leading companies.
How will this Report Benefit you?
A 250-page report from Emergen Research includes 194 tables and 189 charts and graphics. Anyone in need of commercial, in-depth assessments for the global Traditional Chinese Medicine market, as well as comprehensive market segment analysis, can benefit from our new study. You can assess the whole regional and global market for Traditional Chinese Medicine with the aid of our recent study. To increase market share, obtain financial analysis of the whole market and its various segments. We think there are significant prospects in this industry for rapidly expanding energy storage technology. Look at how you may utilise the current and potential revenue-generating prospects in this sector. The research will also assist you in making better strategic decisions, enabling you to build growth strategies, strengthen competitor analysis, and increase business productivity.
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