MarkNtel Advisors recently published a detailed industry analysis of the GCC Herbal Medicine Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Insights and Analysis of the GCC Herbal Medicine Market (2024-2030)
The GCC Herbal Medicine Market size is valued at USD 224.83 Million in 2023 & is estimated to reach USD 366 Million by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.90% during the forecast period, i.e., 2024-30.
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What is driving the GCC Herbal Medicine Market?
Increasing Consciousness About the Ill-Effects of Allopathic Medicine – In recent years, the prevalence of diseases, like obesity, asthma & allergies has substantially increased. As per the statistics by the National Institutes of Health, more occurrences of self-reported chronic diseases in the UAE reached around 23% in 2022. These health issues require immediate medical treatment and the consumers are strictly advised to follow a medication routine. However, the daily consumption of synthetic medicine adversely affects the other organs of the consumers. As a result, the patients experience side effects, like dizziness, insomnia, headache, etc., due to the allopathic medicines. Therefore, consumers are increasingly seeking solutions, like herbal medicines, that do not cause any health complicacy.
Further, the consistent consumption of allopathic medicine also makes the individuals addicted and they experience withdrawal symptoms after they are cured. Therefore, to eradicate the issues that stem from synthetic medicinal doses, healthcare professionals in the GCC nations are increasingly recommending the patients opt for herbal medicine, driving the market growth.
What segments define the GCC Herbal Medicine Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Type of Remedies
(Herbal Analgesics, Herbal Sleeping Aids, Herbal Cough, Cold & Allergy Remedies, Herbal Digestive Remedies, Herbal Dermatologicals, Herbal Dietary Supplements, Herbal Tonics),
By Source
(Roots and Barks, Leaves, Flowers, Fruits, Whole Plant, Others),
By Form
(Extracts, Powders, Capsules & Tablets, Syrups),
By Sales Channel
(Hospitals, Pharmacies, E-commerce),
By Consumers
(Male, Female, Children)
By Region
The UAE, Saudi Arabia, Qatar, Oman, Kuwait, Bahrain
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Who are the leading key players shaping the GCC Herbal Medicine Market landscape?
Saudi Pharmaceutical Industries & Medical Appliances Corporation, Manayer Najd Medical Co, Saudi Arabian Drug Store Co.Ltd, GT Medical, MPS Bashirco, Haw Par Healthcare Ltd, Reckitt Benckiser Arabia FZE, Performance Health Inc, Enzymedica, Inc., The Procter & Gamble Co, Forest Laboratories Inc., Globalpharma, Himalaya Wellness Company LLC, Others.
Questions Addressed in this Study
1.What factors are driving the GCC Herbal Medicine Market growth?
2.How is the GCC Herbal Medicine Market expected to grow over the next five years?
3.What are the key insights into the current trends in the GCC Herbal Medicine Market?
4.What is the current size of the GCC Herbal Medicine Market, and how is it projected to change in the future?
6.What is the future outlook for the GCC Herbal Medicine Market in terms of technological advancements and market expansion?
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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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