Rhizoma Gastrodiae Tablets Market

Key Questions Answered in Report

• What are the growth prospects for rhizoma gastrodiae tablets market from 2021-2031?

  According to Fact. MR’s analysis, demand for rhizoma gastrodiae tablets is anticipated to witness a considerable incline from 2021 to 2031 and expand at a CAGR exceeding 10%. Extensive uptake to treat chronic ailments such as liver disorders will greatly

• Which country will generate the most promising expansion opportunities for rhizoma gastrodiae tablet manufacturers?

  China is likely to emerge as the center-stage for enhanced sales of rhizoma gastrodiae tablets, expected to generate over 50% of total revenue from 2021 to 2031. Simultaneously, India is anticipated to experience a surge of 9% CAGR across the aforemention

• Which type of rhizoma gastrodiae tablets are expected to generate maximum demand through 2031?

  Fact.MR anticipates demand for gastrodia elata f. glauca rhizoma gastrodiae tablets to surge at a staggering 10% CAGR over the next ten years.

Report Also Addresses:

• Market Estimates and Forecasts (2016-2031)
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand Share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Rhizoma Gastrodiae Tablets and How to Navigate
• Recommendation on Key Winning Strategies

Demand for Rhizoma Gastrodiae Tablets from 2016 to 2020 Vs Future Market Projections for 2021-2031

From 2016 to 2020, sales of rhizoma gastrodiae tablets were significantly high, expanding at under 10% CAGR. Increasing preference for traditional and alternative medicine over conventional allopathic ones amid rising health concerns has been driving majority of market growth.

The COVID-19 pandemic has promised significant future expansion prospects, as key healthcare providers seek to incorporate natural alternatives to reduce inflammation episodes. From 2021 to 2031, demand is likely expand at a CAGR exceeding 10% as key regions incorporate plant-based medicine to address such key problems as liver diseases.

How is Demand for Plant-based Medicine Spurring Rhizoma Gastrodiae Tablet Sales?

Traditional herbal medicines are acquiring significant attention in the global healthcare industry. Data from the World Health Organization (W.H.O) concludes that traditional herbal medicine was effectively used to treat severe acute respiratory syndrome (SARS) in China, while 80% of Africans deployed various forms of herbal medicine.

Worldwide annual market for these products is currently valued at US$ 60 billion, and it is anticipated that traditional herbal medicine will make significant strides in the global market, with countries such as China, India, Nigeria and the U.S expected to make significant strides, eventually heightening prospects for rhizoma gastrodiae tablets.

Increasing Prevalence of Liver Disorders Opening Up New Frontiers for Rhizoma Gastrodiae Tablets?

Liver disease accounts for approximately 2 million deaths annually worldwide, half of them due to complications arising out of cirrhosis and the balance as a result of viral hepatitis and hepatocellular carcinoma, according to the National Center for Biotechnology Information.

Moreover, about 2 billion people consume alcohol worldwide and upwards of 75 million are diagnosed with alcohol-use disorders and are at risk of alcohol-associated liver disease. In addition, a significant chunk of the population also lives with fatty liver. Hence, rhizoma gastrodiae tablets are likely to prove useful in mitigating these diseases, inclining their demand.

What are the Key Challenges to Market Expansion for Manufacturers of Rhizoma Gastrodiae Tablets?

A major challenge expected to hamper sales of rhizoma gastrodiae tablets is the limited presence of adequate manufacturers. Currently, bulk of all products manufacturing is restricted to China, attributed to the presence of regional level players.

However, certain players are attempting to expand their business in overseas markets in order to expand their geographical footprint, widening expansion prospects. Another challenge is that of regulatory approvals. Due to availability of limited literature, key authorities are unable to ascertain their effectiveness, delaying product launches.

Country-wise Analysis

How is Growing Popularity of Alternative Medicine Bolstering Rhizoma Gastrodiae Tablet Sales in the U.S.?

The market for rhizoma gastrodiae tablets in the U.S is likely to expand at under 5% CAGR until 2031. Increasing preference for herbal medicines over conventional ones is largely attributed as the chief growth driver for the region.

According to the American Botanical Council, sales of herbal products exceeded US$ 5.3 billion as of the beginning of the previous decade, climbing by 8% to reach around US$ 6 billion by 2013. It further rose to over US$ 9 billion in 2019. Hence, prospects for these medicines appear highly bright across the U.S

Why is Demand for Rhizoma Gastrodiae Tablets High in China?

China is expected to remain the epicenter for global rhizoma gastrodiae tablets, generating more than 50% of the revenue share across the forecast period. Extensive development of Traditional Chinese Medicine (TCM) underpins majority of the East Asian giant’s market growth prospects.

A plethora of chronic ailments have been addressed in China by virtue of traditional herbal-based medicine. As per the World Health Organization (W.H.O), TCM accounts for around 40% of all healthcare delivered. Hence, a number of regional level manufacturers have emerged across key provinces.

How are Growth Prospects for Rhizoma Gastrodiae Tablets Surging in India?

India is poised to exhibit a robust 9% CAGR with respect to rhizoma gastrodiae tablets sales in forthcoming years. The Indian Journal of Pharmacology estimates that 60% of registered physicians are involved in traditional and alternate systems of medicine in India.

Additionally, there are about 700,000 registered practitioners of traditional medicine, majority in Ayurveda, and around 650,000 registered practitioners of modern medicine in India. Also, heightening concerns over allopathic medicines on overall health is also spurring demand for natural medicines, thus providing impetus to market growth.

Category-wise Analysis

Why are Gastrodia Elata F. Glauca Rhizoma Gastrodiae Tablets Highly Preferred?

By type, demand for gastrodia elata f. glauca rhizoma gastrodiae tablets is likely to witness an impressive incline, at a staggering 10% CAGR until 2031. These tablets have proven highly effective in addressing a variety of ailments.

Gastrodia elata. f. glauca derived rhizoma gastrodiae tablets has been used to treat conditions such as headache, dizziness, convulsion, paralysis, rheumatism, epilepsy, strokes, spasms and lumbago.

Competitive Landscape

The rhizoma gastrodiae tablets landscape appears highly consolidated, with a major chunk of it being dominated by Chinese players. Some notable developments in the market include:

• 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

*This list is indicative- full details about prominent rhizoma gastrodiae tablets manufacturers is available upon request.

Report Scope

Attribute	Details
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered	North America Latin America Europe East Asia South Asia Oceania Middle East & Africa
Key Countries Covered	U.S. Canada Brazil Mexico Argentina Germany U.K. France Spain Italy Japan China South Korea India ASEAN Australia & New Zealand GCC South Africa
Key Segments Covered	Type Application Region
Key Companies Profiled	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 Tsumura & Co.
Pricing	Available upon Request

Key Market Segments Covered

• Type

  • Gastrodia Elata F. Glauca Rhizoma Gastrodiae Tablets
  • G. Elata Bl. F. Elta Rhizoma Gastrodiae Tablets
  • Other Rhizoma Gastrodiae Tablets

• Distribution Channel

  • Rhizoma Gastrodiae Tablets for Hospital Pharmacies
  • Rhizoma Gastrodiae Tablets for Retail Pharmacies
  • Rhizoma Gastrodiae Tablets for Online Pharmacies

• Region

  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Italy
    • Rest of Europe
  • East Asia
    • China
    • Japan
    • South Korea
    • Rest of East Asia
  • South Asia
    • India
    • ASEAN
    • Rest of South Asia
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of MEA
  • Oceania
    • Australia & New Zealand
    • Rest of Oceania