Global Traditional Chinese Medicine (TCM) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Traditional Chinese Medicine (TCM) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Traditional Chinese Medicine is a branch of traditional medicine in China. It is a broad range of medicine practices sharing common concepts which have been developed in China and are based on a tradition of more than 2,000 years, including various forms of Chinese Herbal Medicine, Acupuncture, Cupping, Tui Na and Others.

Market Overview:

The latest research study on the global Traditional Chinese Medicine (TCM) market finds that the global Traditional Chinese Medicine (TCM) market reached a value of USD 216457.63 million in 2022. It’s expected that the market will achieve USD 322573.17 million by 2028, exhibiting a CAGR of 6.87% during the forecast period.

YUNNAN BAIYAO is one of the major players operating in the Traditional Chinese Medicine (TCM) market, holding a share of 2.48% in 2022.

Yunnan Baiyao is involved in pharmaceuticals, health products, Chinese medicine resources and pharmaceutical logistics, and its products sell well in China, Southeast Asia, and gradually enter developed countries such as Europe, America and Japan.

Tong Ren Tang was Founded in 1669. It served eight Qing emperors for 188 years since it was designated to provide traditional Chinese medicine to the imperial family in 1723. Specializing in traditional Chinese medicine and therapy, Beijing TRT Group focuses on TCM production as its core pillar, supplemented by four other pillars of health and wellness, senior medical care, commerce and retail, and international business-shaping a health industry chain that covers herb-growing, TCM production, sales, medical services, healthcare, and R&D.

Region Overview:

From 2022-2027, Europe is estimated to witness robust growth prospects.

Company Overview:

YUNNAN BAIYAO is one of the major players operating in the Traditional Chinese Medicine (TCM) market, holding a share of 2.48% in 2022.
Yunnan Baiyao is involved in pharmaceuticals, health products, Chinese medicine resources and pharmaceutical logistics, and its products sell well in China, Southeast Asia, and gradually enter developed countries such as Europe, America and Japan.
Tong Ren Tang was Founded in 1669. It served eight Qing emperors for 188 years since it was designated to provide traditional Chinese medicine to the imperial family in 1723. Specializing in traditional Chinese medicine and therapy, Beijing TRT Group focuses on TCM production as its core pillar, supplemented by four other pillars of health and wellness, senior medical care, commerce and retail, and international business-shaping a health industry chain that covers herb-growing, TCM production, sales, medical services, healthcare, and R&D.

Segmentation Overview:

Among different product types, Chinese Herbal Medicine segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Treatment segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Traditional Chinese Medicine (TCM) market covered in Chapter 3:

Jiangsu Kanion Pharmaceutical Co. Ltd.
YUNNAN BAIYAO
Tasly Pharmaceutical Group
PIEN TZE HUANG
Sanjiu
Beijing TongRenTang
Guangzhou Pharma
TSUMURA
Kangmei Pharmaceutical Co. Ltd.
DEEJ

In Chapter 4 and Chapter 14.2, on the basis of types, the Traditional Chinese Medicine (TCM) market from 2018 to 2029 is primarily split into:

Chinese Herbal Medicine
Acupuncture
Cupping
Tui Na
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Traditional Chinese Medicine (TCM) market from 2018 to 2029 covers:

Healthcare
Treatment

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)