Traditional Chinese Medicine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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from $4,995	193 Pages	Fairfield Market Research	December, 2023	FCSL18395771

Best Price Guarantee
Price	from $4,995
Length	193 Pages
Publisher	Fairfield Market Research
Published Date	December, 2023
SKU	FCSL18395771

Traditional Chinese Medicine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global Traditional Chinese Medicine (TCM) Market, valued at approximately US$ 32 billion in 2024, is reaching a projected valuation of around US$ 47 billion by the end of 2031. The market's growth is driven by increasing demand for TCM formulations, advancements in research and development, and rising awareness of traditional therapies.

Key Factors Driving Market Growth

1. TCM Formulations Research: Research initiatives, new regulations, expanded funding options, and public-private partnerships are fostering innovative research opportunities in TCM medication formulations. Extracts from medicinal plants like Poria cocos, Panax ginseng, and Schisandra chinensis are gaining attention, driving demand for these TCM formulations.

2. Rising Health Concerns: The global need for TCM treatment is growing due to an increase in pediatric disorders, chronic behavioral diseases, heightened awareness of mental health, and lifestyle diseases like ASD and ADHD. TCM practices such as nutritional treatment, acupuncture, and massage are being used alongside conventional therapies to treat various diseases.

3. Regional Growth: Developing countries in the Asia Pacific and East Asian regions are witnessing increased demand for low-cost TCM due to a growing local pharmaceutical manufacturing sector. Government initiatives in countries like China, India, Africa, and Brazil are boosting the production of TCM and non-TCM drugs and associated healthcare services.

Market Growth Challenges

1. Inadequate Supply of High-Quality TCM Formulations: Despite the demand, there is a significant supply gap for high-quality herbal extracts and excipients necessary for developing plant-based medications.

Booming United States Market

Traditional medicine, including TCM, has been steadily expanding in the United States. TCM practices are preferred for managing chronic health issues and improving overall quality of life due to their minimal to no evident negative effects and cost-effectiveness.

Lucrative United Kingdom Market

The United Kingdom is experiencing growth in TCM practices such as acupuncture, Chinese herbal medicines, and moxibustion, contributing to the market's expansion.

Prominence of China

In China, TCM is widely preferred over Western medicine due to perceptions of fewer negative effects and a healing effect on the body. This contributes significantly to the growth of the TCM market.

Competitive Landscape

Leading players in the TCM market are focusing on exclusive distributorships for research and development, manufacturing, and commercial purposes.

Key Companies Profiled:
• Zhongxin Pharmaceuticals
• Tianjin Tasly Group
• Yuannan Baiyao
• Solstice Medicine Company, Inc.
• Shanghai Sundise Traditional Chinese Medicine Co., Ltd
• Chinese Medicine Holding Co., Ltd.
• Hunan goldliloo pharmaceutical Co., Ltd
• Wanbang Pharma Group Corp.
• Chengdu Qiankun Veterinary Pharmaceuticals Co., Ltd.
• Pfizer Inc.
• Eli Lilly and Company
• Novartis AG
• GlaxoSmithKline PLC
• Mallinckrodt Pharmaceuticals
• Hisamitsu Pharmaceutical Co., Inc.
• Tongrentang

The global Traditional Chinese Medicine market is poised for substantial growth, driven by increasing research, rising health concerns, and expanding markets in regions such as the United States, the United Kingdom, and China.

Please note: The PDF e-mail from publisher version of this report is for a global site license. Delivery Timelines - 5 working days.

1. Executive Summary: 1.1. Global Traditional Chinese Medicine Market Snapshot; 1.2. Future Projections; 1.3. Key Market Trends; 1.4. Regional Snapshot, by Value, 2023; 1.5. Analyst Recommendations
2. Market Overview: 2.1. Market Definitions and Segmentations; 2.2. Market Dynamics; 2.2.1. Drivers; 2.2.2. Restraints; 2.2.3. Market Opportunities; 2.3. Value Chain Analysis; 2.4. Porter’s Five Forces Analysis; 2.5. COVID-19 Impact Analysis; 2.5.1. Supply; 2.5.2. Demand; 2.6. Impact of Ukraine-Russia Conflict; 2.7. Economic Overview; 2.7.1. World Economic Projections; 2.8. PESTLE Analysis
3. Global Traditional Chinese Medicine Market Outlook, 2018 – 2031: 3.1. Global Traditional Chinese Medicine Market Outlook, by Product, Value (US$ Bn), 2018 – 2031; 3.1.1. Key Highlights; 3.1.1.1. Traditional Chinese Medicine (TCM); 3.1.1.1.1. Autism Spectrum Disorder (ASD); 3.1.1.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 3.1.1.2. Non-Traditional Chinese Medicine (Non-TCM); 3.1.1.2.1. Autism Spectrum Disorder (ASD); 3.1.1.2.2. Attention Deficit Hyperactivity Disorder (ADHD); 3.2. Global Traditional Chinese Medicine Market Outlook, by Disease, Value (US$ Bn), 2018 – 2031; 3.2.1. Key Highlights; 3.2.1.1. Autism Spectrum Disorder (ASD); 3.2.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 3.3. Global Traditional Chinese Medicine Market Outlook, by Region, Value (US$ Bn), 2018 – 2031; 3.3.1. Key Highlights; 3.3.1.1. North America; 3.3.1.2. Europe; 3.3.1.3. Asia Pacific; 3.3.1.4. Latin America; 3.3.1.5. Middle East & Africa
4. North America Traditional Chinese Medicine Market Outlook, 2018 – 2031: 4.1. North America Traditional Chinese Medicine Market Outlook, by Product, Value (US$ Bn), 2018 – 2031; 4.1.1. Key Highlights; 4.1.1.1. Traditional Chinese Medicine (TCM); 4.1.1.1.1. Autism Spectrum Disorder (ASD); 4.1.1.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 4.1.1.2. Non-Traditional Chinese Medicine (Non-TCM); 4.1.1.2.1. Autism Spectrum Disorder (ASD); 4.1.1.2.2. Attention Deficit Hyperactivity Disorder (ADHD); 4.2. North America Traditional Chinese Medicine Market Outlook, by Disease, Value (US$ Bn), 2018 – 2031; 4.2.1. Key Highlights; 4.2.1.1. Autism Spectrum Disorder (ASD); 4.2.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 4.2.2. BPS Analysis/Market Attractiveness Analysis; 4.3. North America Traditional Chinese Medicine Market Outlook, by Country, Value (US$ Bn), 2018 – 2031; 4.3.1. Key Highlights; 4.3.1.1. U.S. Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 4.3.1.2. U.S. Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 4.3.1.3. Canada Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 4.3.1.4. Canada Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 4.3.2. BPS Analysis/Market Attractiveness Analysis
5. Europe Traditional Chinese Medicine Market Outlook, 2018 – 2031: 5.1. Europe Traditional Chinese Medicine Market Outlook, by Product, Value (US$ Bn), 2018 – 2031; 5.1.1. Key Highlights; 5.1.1.1. Traditional Chinese Medicine (TCM); 5.1.1.1.1. Autism Spectrum Disorder (ASD); 5.1.1.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 5.1.1.2. Non-Traditional Chinese Medicine (Non-TCM); 5.1.1.2.1. Autism Spectrum Disorder (ASD); 5.1.1.2.2. Attention Deficit Hyperactivity Disorder (ADHD); 5.2. Europe Traditional Chinese Medicine Market Outlook, by Disease, Value (US$ Bn), 2018 – 2031; 5.2.1. Key Highlights; 5.2.1.1. Autism Spectrum Disorder (ASD); 5.2.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 5.2.2. BPS Analysis/Market Attractiveness Analysis; 5.3. Europe Traditional Chinese Medicine Market Outlook, by Country, Value (US$ Bn), 2018 – 2031; 5.3.1. Key Highlights; 5.3.1.1. Germany Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 5.3.1.2. Germany Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 5.3.1.3. U.K. Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 5.3.1.4. U.K. Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 5.3.1.5. France Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 5.3.1.6. France Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 5.3.1.7. Italy Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 5.3.1.8. Italy Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 5.3.1.9. Turkey Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 5.3.1.10. Turkey Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 5.3.1.11. Russia Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 5.3.1.12. Russia Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 5.3.1.13. Rest of Europe Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 5.3.1.14. Rest of Europe Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 5.3.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific Traditional Chinese Medicine Market Outlook, 2018 – 2031: 6.1. Asia Pacific Traditional Chinese Medicine Market Outlook, by Product, Value (US$ Bn), 2018 – 2031; 6.1.1. Key Highlights; 6.1.1.1. Traditional Chinese Medicine (TCM); 6.1.1.1.1. Autism Spectrum Disorder (ASD); 6.1.1.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 6.1.1.2. Non-Traditional Chinese Medicine (Non-TCM); 6.1.1.2.1. Autism Spectrum Disorder (ASD); 6.1.1.2.2. Attention Deficit Hyperactivity Disorder (ADHD); 6.2. Asia Pacific Traditional Chinese Medicine Market Outlook, by Disease, Value (US$ Bn), 2018 – 2031; 6.2.1. Key Highlights; 6.2.1.1. Autism Spectrum Disorder (ASD); 6.2.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 6.2.2. Others BPS Analysis/Market Attractiveness Analysis; 6.3. Asia Pacific Traditional Chinese Medicine Market Outlook, by Country, Value (US$ Bn), 2018 – 2031; 6.3.1. Key Highlights; 6.3.1.1. China Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 6.3.1.2. China Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 6.3.1.3. Japan Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 6.3.1.4. Japan Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 6.3.1.5. South Korea Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 6.3.1.6. South Korea Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 6.3.1.7. India Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 6.3.1.8. India Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 6.3.1.9. Southeast Asia Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 6.3.1.10. Southeast Asia Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 6.3.1.11. Rest of Asia Pacific Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 6.3.1.12. Rest of Asia Pacific Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America Traditional Chinese Medicine Market Outlook, 2018 – 2031: 7.1. Latin America Traditional Chinese Medicine Market Outlook, by Product, Value (US$ Bn), 2018 – 2031; 7.1.1. Key Highlights; 7.1.1.1. Traditional Chinese Medicine (TCM); 7.1.1.1.1. Autism Spectrum Disorder (ASD); 7.1.1.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 7.1.1.2. Non-Traditional Chinese Medicine (Non-TCM); 7.1.1.2.1. Autism Spectrum Disorder (ASD); 7.1.1.2.2. Attention Deficit Hyperactivity Disorder (ADHD); 7.2. Latin America Traditional Chinese Medicine Market Outlook, by Disease, Value (US$ Bn), 2018 – 2031; 7.2.1.1. Autism Spectrum Disorder (ASD); 7.2.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 7.2.2. BPS Analysis/Market Attractiveness Analysis; 7.3. Latin America Traditional Chinese Medicine Market Outlook, by Country, Value (US$ Bn), 2018 – 2031; 7.3.1. Key Highlights; 7.3.1.1. Brazil Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 7.3.1.2. Brazil Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 7.3.1.3. Mexico Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 7.3.1.4. Mexico Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 7.3.1.5. Argentina Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 7.3.1.6. Argentina Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 7.3.1.7. Rest of Latin America Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 7.3.1.8. Rest of Latin America Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa Traditional Chinese Medicine Market Outlook, 2018 – 2031: 8.1. Middle East & Africa Traditional Chinese Medicine Market Outlook, by Product, Value (US$ Bn), 2018 – 2031; 8.1.1. Key Highlights; 8.1.1.1. Traditional Chinese Medicine (TCM); 8.1.1.1.1. Autism Spectrum Disorder (ASD); 8.1.1.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 8.1.1.2. Non-Traditional Chinese Medicine (Non-TCM); 8.1.1.2.1. Autism Spectrum Disorder (ASD); 8.1.1.2.2. Attention Deficit Hyperactivity Disorder (ADHD); 8.2. Middle East & Africa Traditional Chinese Medicine Market Outlook, by Disease, Value (US$ Bn), 2018 – 2031; 8.2.1. Key Highlights; 8.2.1.1. Autism Spectrum Disorder (ASD); 8.2.1.2. Attention Deficit Hyperactivity Disorder (ADHD); 8.2.2. BPS Analysis/Market Attractiveness Analysis; 8.3. Middle East & Africa Traditional Chinese Medicine Market Outlook, by Country, Value (US$ Bn), 2018 – 2031; 8.3.1. Key Highlights; 8.3.1.1. GCC Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 8.3.1.2. GCC Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 8.3.1.3. South Africa Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 8.3.1.4. South Africa Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 8.3.1.5. Egypt Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 8.3.1.6. Egypt Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 8.3.1.7. Nigeria Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 8.3.1.8. Nigeria Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 8.3.1.9. Rest of Middle East & Africa Traditional Chinese Medicine Market by Product, Value (US$ Bn), 2018 – 2031; 8.3.1.10. Rest of Middle East & Africa Traditional Chinese Medicine Market by Disease, Value (US$ Bn), 2018 – 2031; 8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape: 9.1. Manufacturer vs by Disease Heatmap; 9.2. Company Market Share Analysis, 2023; 9.3. Competitive Dashboard; 9.4. Company Profiles; 9.4.1. Zhongxin Pharmaceuticals; 9.4.1.1. Company Overview; 9.4.1.2. Product Portfolio; 9.4.1.3. Financial Overview; 9.4.1.4. Business Strategies and Development; 9.4.2. Tianjin Tasly Group; 9.4.2.1. Company Overview; 9.4.2.2. Product Portfolio; 9.4.2.3. Financial Overview; 9.4.2.4. Business Strategies and Development; 9.4.3. Yuannan Baiyao; 9.4.3.1. Company Overview; 9.4.3.2. Product Portfolio; 9.4.3.3. Financial Overview; 9.4.3.4. Business Strategies and Development; 9.4.4. Solstice Medicine Company, Inc.; 9.4.4.1. Company Overview; 9.4.4.2. Product Portfolio; 9.4.4.3. Financial Overview; 9.4.4.4. Business Strategies and Development; 9.4.5. Shanghai Sundise Traditional Chinese Medicine Co., Ltd; 9.4.5.1. Company Overview; 9.4.5.2. Product Portfolio; 9.4.5.3. Financial Overview; 9.4.5.4. Business Strategies and Development; 9.4.6. Chinese Medicine Holding Co., Ltd.; 9.4.6.1. Company Overview; 9.4.6.2. Product Portfolio; 9.4.6.3. Financial Overview; 9.4.6.4. Business Strategies and Development; 9.4.7. Hunan goldliloo pharmaceutical Co., Ltd; 9.4.7.1. Company Overview; 9.4.7.2. Product Portfolio; 9.4.7.3. Financial Overview; 9.4.7.4. Business Strategies and Development; 9.4.8. Wanbang Pharma Group Corp; 9.4.8.1. Company Overview; 9.4.8.2. Product Portfolio; 9.4.8.3. Financial Overview; 9.4.8.4. Business Strategies and Development; 9.4.9. Chengdu Qiankun Veterinary Pharmaceuticals Co., Ltd.; 9.4.9.1. Company Overview; 9.4.9.2. Product Portfolio; 9.4.9.3. Financial Overview; 9.4.9.4. Business Strategies and Development; 9.4.10. Pfizer Inc.; 9.4.10.1. Company Overview; 9.4.10.2. Product Portfolio; 9.4.10.3. Financial Overview; 9.4.10.4. Business Strategies and Development; 9.4.11. Eli Lilly and Company; 9.4.11.1. Company Overview; 9.4.11.2. Product Portfolio; 9.4.11.3. Financial Overview; 9.4.11.4. Business Strategies and Development
10. Appendix: 10.1. Research Methodology; 10.2. Report Assumptions; 10.3. Acronyms and Abbreviations

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