U.S. Herbal Medicine Market

U.S. Herbal Medicine Market Size (2023 to 2028)

The size of the herbal medicine market in the United States is forecasted to be growing at a healthy CAGR of 7.02% during the forecast period.

The growing awareness regarding the efficacy of herbal medicine in addressing diverse diseases and infections in the United States drives the growth of the U.S. herbal medicine market. The adoption of herbal medicine stands at approximately 35% of the population in the United States. This therapeutic approach offers solutions for a wide spectrum of conditions, including allergies, eczema, asthma, rheumatoid arthritis, and more. Herbal medicine, derived from plant sources, yields pharmaceutical-grade benefits and is notably used in tandem with conventional medication. Prominent herbal supplements in the U.S. encompass echinacea, garlic, ginkgo, valerian, and others, often synergistically combined to enhance efficacy.

The growing aging population and rising support from the pharmaceutical industry in the U.S. further propel the U.S. herbal medicine market growth. Notably, ginkgo and garlic are favored herbal ingredients among the elderly, addressing concerns like bruising and bleeding. Approximately 20% of arthritis-affected older individuals opt for herbal medicine, given its favorable side effect profile versus conventional options. A substantial portion of the adult population contends with sexual issues, which herbal medication can mitigate. These dynamics are inciting pharmaceutical entities to channel their efforts into herbal medicine production, driving the U.S. herbal medicine market growth.

The availability of investments required for R&D activities, a robust presence of industry leaders, progressive manufacturing advancements, and growing acceptance of novel herbal medications collectively fuel the growth of the U.S. herbal medicine market.

The higher cost of certain herbal medicines for chronic conditions majorly hampers the growth of the U.S. herbal medicine market. Factors such as insufficient expertise in herbal medical research, limited drug availability, awareness gaps, and stringent regulations hinder market expansion. Complications arising from interactions between herbal ingredients and other medications, particularly when purchased online or from unregulated sources, also pose challenges to market growth.

Impact of COVID-19 on the U.S. herbal medicine market:

The COVID-19 outbreak has positively impacted the U.S. herbal medicine market due to the increasing demand for herbal medicines to boost immunity. The herbal pharmaceutical segment has gained ground in the COVID-19 era due to its chemical-free nature. Herbal remedies are the most common treatment for various illnesses. An unusual time in history, the coronavirus pandemic sparked an unprecedented series of events affecting all industries. The U.S Herbal medicine market will be restored to a new normal, which, in the future, in a post-COVID-19 era, will be continually redefined and redesigned.

This research report on the United States herbal medicine market has been segmented & sub-segmented into the following categories.

By Type: 

• Herbal Functional Foods
• Herbal Dietary Supplements
• Herbal Beauty Products
• Herbal Pharmaceuticals

By Source: 

• Roots and barks
• Fruits
• Whole plants
• Leaves
• Others

By Form:

• Tablets
• Capsules
• Extracts
• Syrups
• Powders
• Others

By Country:

• The United States

The United States holds the largest share in the market growth. In the last two decades, the US population are adopting herbal medicine as an alternative medicine to normal drugs. Self-medication for herbal supplements which are used for weight loss, immunity and memory boost, and physical and mental health also drives the U.S. market growth.

KEY MARKET PLAYERS:

A few of the promising companies operating in the U.S. herbal medicine market profiled in this report are TSUMURA & CO., Dr. Willmar Schwabe India Pvt. Ltd., Blackmores Limited, NATURE’S ANSWER, Arkopharma, Arizona Natural Products, Bio-Botanica Inc., Herbal Africa, Sidomuncul, and Nature Herbs.