Traditional medicine refers to health practices, approaches, knowledge and beliefs incorporating plant, animal and mineral based medicines, spiritual therapies, manual techniques and exercises, applied singularly or in combination to treat, diagnose and prevent illnesses or maintain well-being. It is the sum total of the knowledge, skills, and practices based on the theories, beliefs, and experiences indigenous to different cultures, whether explicable or not, used in the maintenance of health as well as in the prevention, diagnosis, improvement or treatment of physical and mental illness. Traditional medicine has a long history and people still heavily rely on it in some Asian and African countries. According to the World Health Organization (WHO), 2021, In Ghana, Mali, Nigeria and Zambia, herbal medicines are the first line treatment for more than 60% of children with high fever. The global traditional medicine market is expected to witness significant growth, owing to rising demand for natural, herbal alternative treatment options to modern medicines.
Market Dynamics:
Global traditional medicine market growth is driven by rising awareness about herbal and homeopathic medicines along with their potential health benefits. Growing preference for traditional treatments over allopathic medicines due to lesser side effects is boosting the market growth. Various government initiatives aimed at promoting traditional therapies and integrating them into mainstream healthcare systems in different countries are creating new opportunities. However, lack of scientific evidence validating efficacy and safety of traditional medicines, difficulty in standardization of products, and tight regulatory frameworks are some challenges restraining wider acceptance. Adoption of digital technologies by practitioners can help to address these issues by enabling quality control and monitoring. This will further fuel the traditional medicine industry expansion.
Key features of the study:
- This report provides in-depth analysis of the global traditional medicine market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2025-2032), considering 2024 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global traditional medicine market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Guizhou Yifang Pharmaceutical Co., Ltd., Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd, Tasly Holding Group Co., Ltd., Kotobuki Seiyaku Co., Ltd., Herbalife Nutrition, Imperial Ginseng Products Ltd., Hammurapi Pharma GmbH, Zydus Nutriva, Hawaii Pharma, LLC, VitaHealth Australia, Amrita Ayurvedic Pharmaceutical, The Himalaya Drug Company, Dabur, Kotaro Pharmaceuticals Company, Charak Pharma, Fortis Healthcare, and Baidyanath Ayurved
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- Global traditional medicine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global traditional medicine market
- By Product
- Herbal Medicine
- Ayurvedic Medicine
- Unani Medicine
- Alternative Medicine
- Homeopathy Medicine
- Others (Siddha Medicine, Massage Therapy and Others)
- By Form
- Capsules and Tablets
- Powders and Granules
- Liquid Extracts
- Syrups
- Creams and Ointment
- Others (Patents & Proprietary Medicines and Others)
- By Disease Indication
- Cardiac Disorders
- Bone and Joint Disorders
- Gynecological Disorders
- Neurological and Mental Disorders
- Digestive Disorders
- Others (Respiratory, Skin, Vision, Dental, etc.)
- By Distribution Channel
- Hospital and Retail Pharmacies
- Online Pharmacies
- Specialty Stores
- Direct Sales
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
- Company Profiles
- Guizhou Yifang Pharmaceutical Co., Ltd.
- Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd
- Tasly Holding Group Co., Ltd.
- Kotobuki Seiyaku Co., Ltd.
- Herbalife Nutrition
- Imperial Ginseng Products Ltd.
- Hammurapi Pharma GmbH
- Zydus Nutriva
- Hawaii Pharma, LLC
- VitaHealth Australia
- Amrita Ayurvedic Pharmaceutical
- The Himalaya Drug Company
- Dabur
- Kotaro Pharmaceuticals Company
- Charak Pharma
- Fortis Healthcare
- Baidyanath Ayurved
- 1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- 2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Global Traditional Medicine Market, By Product
- Global Traditional Medicine Market, By Form
- Global Traditional Medicine Market, By Disease Indication
- Global Traditional Medicine Market, By Distribution Channel
- Global Traditional Medicine Market, By Region
- Coherent Opportunity Map (COM)
- 3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Increasing preference for herbal medicines
- Lack of scientific evidence and clinical trials
- Emerging markets in developing countries
- Key Highlights
- Regulatory Scenario
- Recent Trends
- PEST Analysis
- PORTER’s Analysis
- Mergers, Acquisitions, and Collaborations
- 4. Global Traditional Medicine Market– Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- 5. Global Traditional Medicine Market, By Product, 2020-2032, (US$ Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 – 2032
- Segment Trends
- Herbal Medicine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Ayurvedic Medicine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Unani Medicine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Alternative Medicine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Homeopathy Medicine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Others (Siddha Medicine, Massage Therapy and Others)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- 6. Global Traditional Medicine Market, By Form, 2020-2032, (US$ Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 – 2032
- Segment Trends
- Capsules and Tablets
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Powders and Granules
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Liquid Extracts
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Syrups
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Creams and Ointment
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Others (Patents & Proprietary Medicines and Others)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- 7. Global Traditional Medicine Market, By Disease Indication, 2020-2032, (US$ Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 – 2032
- Segment Trends
- Cardiac Disorders
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Bone and Joint Disorders
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Gynecological Disorders
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Neurological and Mental Disorders
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Digestive Disorders
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Others (Respiratory, Skin, Vision, Dental, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- 8. Global Traditional Medicine Market, By Distribution Channel, 2020-2032, (US$ Bn)
- Introduction
- Market Share Analysis, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, 2021 – 2032
- Segment Trends
- Hospital and Retail Pharmacies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Online Pharmacies
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Specialty Stores
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- Direct Sales
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (US$ Bn)
- 9. Global Traditional Medicine Market, By Region, 2020-2032, (US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2025 and 2032 (%)
- Y-o-Y Growth Analysis, For Region, 2021 –2032
- Country Trends
- North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Form, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Disease Indication, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032, (US$ Bn)
- U.S.
- Canada
- Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Form, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Disease Indication, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032, (US$ Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Form, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Disease Indication, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032, (US$ Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Form, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Disease Indication, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032, (US$ Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Form, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Disease Indication, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032, (US$ Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Form, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Disease Indication, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2020-2032, (US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Region, 2020-2032, (US$ Bn)
- North Africa
- Central Africa
- South Africa
- 10. Competitive Landscape
- Company Profile
- Guizhou Yifang Pharmaceutical Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Highlights
- Financial Performance
- Strategies
- Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd
- Tasly Holding Group Co., Ltd.
- Kotobuki Seiyaku Co., Ltd.
- Herbalife Nutrition
- Imperial Ginseng Products Ltd.
- Hammurapi Pharma GmbH
- Zydus Nutriva
- Hawaii Pharma, LLC
- VitaHealth Australia
- Amrita Ayurvedic Pharmaceutical
- The Himalaya Drug Company
- Dabur
- Kotaro Pharmaceuticals Company
- Charak Pharma
- Fortis Healthcare
- Baidyanath Ayurved
- Analyst Views
- 11. Section
- References
- Research Methodology
- About us
- *Browse 44 market data tables and 46 figures on “Global Traditional Medicine Market” - Global forecast to 2032
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook