herbal medicine market in vietnam

Discover the latest market trends and uncover sources of future market growth for the Herbal/Traditional Products industry in Vietnam with research from Euromonitor's team of in-country analysts. Nguyen Quoc Viet A 2017 evaluation of the EU and the Vietnam Chamber of Commerce and Industry (VCCI) shows Vietnam has spent much money to import medicines and pharmaceutical ingredients for local consumption, meaning the market still has much room for those investors wanting to set up shop in the country. The overall objective of this action is to promote the contribution of CSOs to improved governance in herbal medicine value chain.. The increasing interest of the individuals in this industry is that the major reason for the expansion of this market”. SLOOINP; ISSN No. Herbal Medicine Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. Meanwhile, the country’s medicine export revenue totaled only US$113 million last year. Figure Vietnam Organic Herbal Medicine Sales Growth Rate (2013-2018) (K MT) 2.Global Herbal Medicine Market, By Product Type Market 2019-2024 (Volume/Units) 2.1 Medicinal Part Market 2019-2024 (Volume/Units) - Global Industry Research 2.2 Medicine Function Market 2019-2024 (Volume/Units) - Global Industry Research 2.3 Active Ingredient Market 2019-2024 (Volume/Units) - Global Industry Research If you're in the Herbal/Traditional Products industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions. Demand for these products is further driven in Vietnam by consumers’ increasing use of the internet to learn about the benefits and risks of the consumer health remedies they want to take. This report is intended to oblige requests of those organizations that wish to move into new market section. Traditional herbal medicines are getting significant attention in global health debates. In China, traditional herbal medicine played a prominent role in the strategy to contain and treat severe acute respiratory syndrome (SARS).1 Eighty per cent of African populations use some form of traditional herbal medicine,… Nguyen devoted 15 years to developing the plant, officially known as Crinum latifolium, into an herbal medicine. Track key industry trends, opportunities and threats. Contact us, Editor-in-Chief: The group sets aside VND2,200 billion as investment capital for the project, focusing on oriental drug research, manufacture, trading and export-import. Thuốc Nam is one of two kinds of folk remedies known to villagers, the other being the traditional exercise … Mediplantex is the big pharmaceutical company in VietNam manufacturing & trade medicine & raw material pharmaceutical. “Organic Herbal Medicine Market is growing at a High CAGR during the forecast period 2020-2026. People in Vietnam… Advertisement |  Data of IBM Research showed that Vietnam’s medicine market size in 2017 was estimated to be around US$4.7 billion, and is expected to surge to US$7.7 billion in 2021. 9 This inclination towards herbal products are largely driven by the cultural backgrounds of the different Malaysian consumers. Traditional Vietnamese medicine, also known as Southern Herbology is a traditional medicine practiced by Vietnamese people. Files are delivered directly into your account within a few minutes of purchase. Scope Of The Report: Cooperation with pharmaceutical companies to provide access to affordable essential medicines in developing countries is Target 8E of Millennium Development Goal 8 (United Nations 2008). Herbal medicine, much of it imported from China, ... 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Managing Editor: Nguyen Chi Mai, Vietnam Investment Review under the Ministry of Planning and Investment According to investors, Vietnam is an attractive pharmaceutical market with an average medicine consumption of 2017 reaching US$56 per capita. In fighting disease, most remedies are based on western medicine, but the majority of people have little awareness of disease prevention from herbs. Crila has been on the market in Vietnam in pill form since 2005 and has been used by 300,000 Vietnamese, said Sue McKinney, a Mendocino-based entrepreneur who is distributing the herbal … Market Analysis and Insights: Global Herbal Medicine Market The global Herbal Medicine market size is projected to reach USD 218940 million by 2026, from USD 148360 million in … Herbal Medicine Market Size And Forecast. Herbal/Traditional Products in Vietnam Herbal/Traditional Products in Vietnam Demand for herbal/traditional products continued to increase in 2019, especially within dietary supplements, cough, cold and hay fever - Market research report and industry analysis - 12729089 Organic Herbal Medicine Market research report is the new statistical data source added by A2Z Market Research. Although Vietnam is modernizing quickly, traditional medicine in Vietnam has not disappeared and if anything is gaining something of a revitalization. We report a case of acute hepatitis associated with chronic use of high doses of Tinospora crispa.. A 49-year-old male with chronic low back pain bought a herbal medicine at a market … In 2010, herbs and plants represented 18 percent of that market. It is influenced by traditional Chinese medicine. 1.4 Market Segmentation by End-Users The market in Europe is projected to reach a valuation in excess of USD 58,600 Mn by the year 2023. Following the successful invasion and occupation of the Red River Delta by the Chinese, Thuốc Nam grew alongside Traditional Chinese Medicine or Thuốc Bắc. Other than COVID-19, one of the main factors expected to maintain growth in herbal/traditional products in Vietnam in 2020 is the rapidly ageing population. Global Herbal Medicine Market Segment Insights: Based on categories, the market is fragmented into herbal pharmaceuticals, herbal functional foods, herbal dietary supplements, and herbal beauty products.The herbal pharmaceuticals segment held a large share of the market owing to high demand of herbal medicine and increasing prevalence of chronic diseases. A report from Mintel shows that the value of the cosmetics market may reach $2.35 billion by 2018. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Herbal Medicine. © 2021 Euromonitor is privately owned & trademarked. According to investors, Vietnam is an attractive pharmaceutical market with an average medicine consumption of 2017 reaching US$56 per capita. The global market for all herbal supplements and remedies could reach US$115 billion by 2020, with Europe the largest and the Asia 1.3.1 Global Herbal Medicine Market Size and Growth Rate of Medicine Function from 2014 to 2026. The Global Herbal Medicine Market report provides a holistic evaluation of the market … Organic Herbal Medicine Market and Traditional Chinese Medicine Market 2020 With Increasing Demand Analysis, Current Trend, Suppliers, Scope, … Report ID: 98229 3300 Pharma & Healthcare Dataintelo 131 Pages 4 (43) Report Details. A number of traditional medical treatments are practised in Vietnam. 1.3.2 Global Herbal Medicine Market Size and Growth Rate of Medicinal part from 2014 to 2026. In particular, Vingroup officially entered the domestic medicine market by launching a project with the brand name of Vinfa in early April. Traditional herbal medicines are naturally occurring, plant-derived substances with minimal or no industrial processing that have been used to treat illness within local or regional healing practices. The global herbal cosmetics market can be segmented based on product, distribution, physical state, and region. In many countries, particularly resource poor settings, consumers pay the full cost of the medicine, commonly referred to as consumer out-of-pocket payments, which contrib… The Global market for Alternative Medicine is estimated to grow at a CAGR of roughly X.X% in the next 8 years, and will reach USD X.X million in 2027, from USD X.X million in 2020. Moreover, foreign enterprises have lately been competing to acquire stakes in leading Vietnamese pharmaceutical companies such as Traphaco and Domesco. The global OTC Herbal and Traditional Medicines market is valued at 132800 million US$ in 2018 and will reach 159800 million US$ by the end of 2025, growing at a CAGR of 2.7% during 2019-2025. Traditional Vietnamese medicine is highly influenced by Chinese medicine, including acupuncture and Chinese herbs. As with Western medicine, self-diagnosis is not advisable - see a doctor. Global Herbal Medicine Market Professional Research Report 2014-2026, Segmented by Players, Types, End-Users in Major 40 Countries or Regions Licence No. Main Markets : Worldwide; Main Products : Drug & Raw Material Pharmaceutical, Links : Health & Medicines, Herbs & Medicines, Other Herbs & Medicines, Company Introduction. The best results in 2020 are expected to be seen from herbal products that combat anxiety and improve sleep, as consumers stress increases in response to the pandemic. The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries. Euromonitor addresses your unique questions and challenges across all B2B and B2C industries and geographies through custom, tailor-made research projects, designed to your specific goals. The Global Herbal Medicine market was valued at XX.0 million US$ in 2018, with the CAGR of 1.7%, this market is estimated to reach USD XX.0 million US$ in 2026. 1.3.3 Global Herbal Medicine Market Size and Growth Rate of Active Ingredient from 2014 to 2026. Tinospora species (Menispermaceae) is commonly used as a herbal medicine in South Asia, but very few toxic effects have been described. 1040587, Sales of Herbal/Traditional Products by Category: Value 2015-2020, Sales of Herbal/Traditional Products by Category: % Value Growth 2015-2020, NBO Company Shares of Herbal/Traditional Products: % Value 2016-2020, LBN Brand Shares of Herbal/Traditional Products: % Value 2017-2020, Forecast Sales of Herbal/Traditional Products by Category: Value 2020-2025, Forecast Sales of Herbal/Traditional Products by Category: % Value Growth 2020-2025, Consumer Expenditure on Health Goods and Medical Services: Value 2015-2020, Sales of Consumer Health by Category: Value 2015-2020, Sales of Consumer Health by Category: % Value Growth 2015-2020, NBO Company Shares of Consumer Health: % Value 2016-2020, LBN Brand Shares of Consumer Health: % Value 2017-2020, Distribution of Consumer Health by Format: % Value 2015-2020, Distribution of Consumer Health by Format and Category: % Value 2020, Forecast Sales of Consumer Health by Category: Value 2020-2025, Forecast Sales of Consumer Health by Category: % Value Growth 2020-2025, Herbal/Traditional Products Sample Report, Herbal/Traditional Products in Azerbaijan, Herbal/Traditional Products in Bosnia and Herzegovina, Herbal/Traditional Products in Bosnia-Herzegovina, Herbal/Traditional Products in Costa Rica, Herbal/Traditional Products in Dominican Republic, Herbal/Traditional Products in Hong Kong, China, Herbal/Traditional Products in Kazakhstan, Herbal/Traditional Products in New Zealand, Herbal/Traditional Products in North Macedonia, Herbal/Traditional Products in Saudi Arabia, Herbal/Traditional Products in South Africa, Herbal/Traditional Products in South Korea, Herbal/Traditional Products in Switzerland, Herbal/Traditional Products in the Czech Republic, Herbal/Traditional Products in the Netherlands, Herbal/Traditional Products in the Philippines, Herbal/Traditional Products in the United Arab Emirates, Herbal/Traditional Products in the United Kingdom, Herbal/Traditional Products in Uzbekistan, Owning Health: The Move Towards Self-care and Implications for Marketers, Boehringer Ingelheim GmbH in Consumer Health, General Nutrition Centers in Consumer Health, General Nutrition Centers Inc in Consumer Health, Glaxosmithkline Plc and Novartis AG in Consumer Health: Prospects for Their New Joint Venture, Herbalife Nutrition Ltd in Consumer Health, Nu Skin Enterprises Inc in Consumer Health, Procter & Gamble Co, The (P&G) in Consumer Health, Procter & Gamble Co, The in Consumer Health, Reckitt Benckiser Plc (RB) in Consumer Health, Taisho Pharmaceutical Co Ltd in Consumer Health, Takeda Pharmaceutical Co Ltd in Consumer Health, Analysis of key supply-side and demand trends, Detailed segmentation of international and local products, Historic volumes and values, company and brand market shares, Five year forecasts of market trends and market growth, Robust and transparent market research methodology, conducted in-country. 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