Gastrodia Elata F. Glauca Rhizoma Gastrodine Tablets to Pivot Bulk of Market Growth, Expanding at 10% CAGR
Published : 01 Jun 2021 Industry: Healthcare
The global rhizoma gastrodiae tablets market is poised to expand at over 10% CAGR during the 2021-2031 forecast period, according to a recently published report by award-winning consulting firm Fact.MR. Heavy emphasis on herbal-based and traditional medicines is anticipated to account for bulk of this expansion.
Historically, the market accrued credible gains, expanding at just under 10% CAGR from 2016 to 2020. Prospects have been further heightened amidst the COVID-19 crisis, with several healthcare providers investigating the possibility of incorporating alternative medicine as an effective first-line treatment for severely infected patients.
As per the World Health Organization, maximum application has been in China, attributed to growing application of Traditional Chinese Medicine (TCM) to treat debilitating diseases such as severe acute respiratory syndrome (SARS). Furthermore, 4 out of 5 healthcare providers in key African countries have embedded alternative medicine as an effective therapy. Moreover, applications have also widened to treat various chronic disorders, including fatty liver.
Key Takeaways from Market Study
- Gastrodia elata f. glauca rhizoma gastrodiae tablet demand to expand at an impressive 10% CAGR
- By distribution channel, retail pharmacies to account for maximum sales, expanding at a CAGR of approximately 15%
- Sales of rhizoma gastrodiae tablets in the U.S. to generate approximately 40% of revenue, expanding at under 5% CAGR
- China to remain the epicenter of market growth, yielding over 50% of total revenue
- 3 out 10 rhizoma gastrodiae tablet sales are expected across India, expanding at a CAGR of 9%
- Market in the U.K. to emerge as a promising hub, poised to exhibit a CAGR of approximately 7% through 2031
“Prominent manufacturers of rhizoma gastrodiae tablets are likely to majorly incline towards key emerging economies across Asia and Africa, amid heightened scope of traditional medicine in key countries,”
concludes a Fact.MR analyst.
Prominent rhizome gastrodiae tablet manufacturers as profiled in Fact.MR’s report include 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,and Tsumura & Co.
- In June 2017, Beijing Tong Ren Tang Europe Holding B.V entered a strategic co-operation agreement with the Republic of Kazakhstan for establishing a Chinese Medical Center to further Chinese Medicine.
- In November 2019, Tsumura & Co. concluded its Letter of Intent regarding Tianjin China Medico Technology Co. Ltd. to forge a capital alliance with the intention of expanding its business in Traditional Chinese Medicine and ensure stable supply of crude drugs.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the rhizoma gastrodiae tablets market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of type (Gastrodia Elata F. Glauca, G. Elata Bl. F. Elata, and others) and distribution channel (hospital pharmacies, retail pharmacies, and online pharmacies), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge on Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
For more information, refer to our market research report or contact the PR author.
Shambhu Nath Jha
Sr. Consultant – Healthcare