2024: Globalpharma: Launched two herbal medicines, i.e., an anti-inflammatory, and medicine for the management of Dyslipidaemia in the UAE
According to MarkNtel Advisors study, 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.
The GCC region has a strong tradition of employing herbal and natural remedies in healthcare. These traditions have been passed down through the generations. Moreover, recent studies by academic institutions & research centers have also claimed that Herbal/traditional remedies are naturally free from synthetic compounds and have higher efficacy. Owing to this, they are increasingly being well-received in the region. Moreover, in recent times, the UAE, Saudi Arabia, and Kuwait like their European and Asian counterparts, are witnessing a shift towards embracing these ancient remedies, a phenomenon often referred to as “going back to the roots” due to the increasing marketing campaigns & advertisements. The top companies in the GCC Herbal Medicine industry are using promotional activities & influencer marketing campaigns, which highlight the positive features & benefits offered by these medicines. These strategic plans by the companies would continue to gain the attention of more consumers in the region, supporting market growth.
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Key Findings in GCC Herbal Medicine Market:
| Historical Years | 2019-2022 |
| Base Years | 2023 |
| Forecast Years | 2024-2030 |
| Key Report Highlights | · Market Dimensions & Projections· Pricing Evaluation,· Recent Strategic Moves by Companies,· Primary Stakeholders,· Analysis of Import and Export Trends,· Competitive Landscape Assessment,· Emerging Opportunities,· Market Trends and Indicators |
| Reports Delivery Format | Market research studies from MarkNtel Advisors are offered in PDF, Excel and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address. |
GCC Herbal Medicine Market Key Players:
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.
Market Segmentation Overview:
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
Among them, e-commerce holds a substantial market share owing to the higher internet penetration rates, smartphone accessibility, and the rising inclination of customers to purchase medicine from online applications. The e-commerce platforms provide the consumers with flexibility to order from home or any other place. Along with this, the online shopping channel also provides medicines to consumers within an hour, making it an even more preferable sales channel. As per the research conducted, the online sales of these herbal products have soared across the region. All the leading online retailers such as Amazon, Noon, souCare, etc., have been providing these products with multiple cashback offers. These promotional activities have gained consumers’ attention and sales via these platforms in Saudi Arabia reached 11% in 2024 from 1% in 2019. Along with this, the e-commerce sales in UAE and Qatar expanded to around 6% and 5% respectively in 2024. Also, the increasing inclination towards telehealth platforms, i.e., the online medium that helps in the virtual consultation with the doctors is also supporting the online sales of these medicines.
Furthermore, as consumers continue to engage in a busy lifestyle, there will be a need for convenient medicine delivery alternatives, like online platforms, supporting the market growth during 2024-2030.
By Consumers
-Male
-Female
-Children
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By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The GCC Herbal Medicine Industry Recent Development:
2023: Himalaya Wellness Company LLC: Announced the establishment new herbal pharmaceutical factory in Dubai, the UAE with an investment of around USD54.45 Million.
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