The global compound houttuynia market study from Fact.MR has a very positive outlook for the forecast period of 2021–2031, forecasting a CAGR of more than 10% to reach a valuation of more than $1 million. The market’s main growth engine is the widespread use of complementary and alternative medicines.
Historically, the market grew from 2016 to 2020 at a CAGR of about 10%. A lot of people are using herbal medicine to treat symptoms including respiratory problems and other infectious diseases. They are also showing promise in the fight against a variety of malignancies.
Globally, 19.3 million new instances of cancer are anticipated in 2020, 18.1 million of which do not include non-melanoma skin cancer, and over 10.0 million cancer deaths do not include non-melanoma skin cancer. With an expected 1.8 million fatalities (18%), lung cancer continued to be the most common type of cancer, followed by colorectal (9.4%), liver (8.3%), stomach (7.7%), and female breast (6.9%) cancer.
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Key Takeaways from Market Study
- Compound houttuynia capsule demand is expected to grow at a startling 10% CAGR until 2031.
- The majority of compound houttuynia sales will be made by brick-and-mortar and internet pharmacies, which will account for more than half of the total revenue.
- The global demand will be centred in China, which is expected to grow at a CAGR of about 7% due to planned use across TCM.
- Three out of ten compound houttuynia sales in India are anticipated to be influenced by the increasing prevalence of COPD and asthma.
- Due to rising interest in complementary and alternative medicine, the market in the United States is expected to increase at a rate of about 5% CAGR through the year 2031.
Key Companies Profiled
- Guangxi Bangqi Pharmaceuticals
- Zhejiang Conba Pharmaceuticals
- Anhui Welman Pharmaceuticals
- Jiangxi Tianshikang
- Zhejiang Guojing Pharmaceuticals
- Yunnan Yunlong Pharmaceuticals
- Heilongjiang Zhonggui Pharmaceuticals
- Tsumura & Co.
- Jilin Fukang Pharmaceutical
A majority of Chinese producers are present, giving the compound houttuynia industry the appearance of being extremely concentrated. The key tactic used by players in the market is to continue to offer new products.
Full information about well-known compound houttuynia makers is available upon request; this list is merely illustrative.
Key Insights from the Compound Hutuina Market research report:
- Basic macro and microeconomic elements impacting compound hutu or market sales.
- Compound Hutuina’s fundamentals, including market definitions, categories, and applications
- Based on M&A, R&D initiatives, and product introductions, we carefully examine each market participant.
- Analysis of Compound Hutuina supply and use trends in different sectors.
- Important nations and locations that provide market participants lucrative chances.
How is the U.S Expected to Emerge as a Potential Market for Compound Houttuynia?
Compound houttuynia goods are predicted to be in high demand in the U.S., with a CAGR of about 5% over the projection period of 2021–2031. The importance of complementary and alternative medicine is projected to increase, which will boost business opportunities.
36% of American adults 18 and older favour some sort of complementary and alternative medicine, according to a federal survey. According to this practise, natural products like herbs make up 19% of all product usage, despite growing scepticism against traditional treatment, particularly in light of allopathic drugs’ possible negative effects.