Diabetes mellitus is a systemic metabolic disease characterized by hyperlipedemia, hyperglycemia, hypoinsulinemia, and hyperaminoacidemia that leads to decrease in insulin, secretion, and insulin action. Currently, therapies for diabetes include insulin and various oral antidiabetic agents such as sulfonylureas, biguanides, alpha glucosidase inhibitors, and glinides. Diabetes is a heterogeneous metabolic disorder characterized by altered carbohydrate, lipid, and protein metabolism. According to the Indian Council of Medical Research, diabetes mellitus has become a major concern in the contemporary world. India has become the diabetic capital of the world, with over 20 million diabetes patients. The number is likely to increase to 57 million by 2025. Currently, traditional health care systems in India, traditional Chinese medicine, and health care systems in other countries in Asia Pacific are focusing on herbal drug preparations and plants in the treatment of diabetes mellitus. This is expected to present significant opportunities in the global herbal medicines market in the next few years.
The global antidiabetic herbal drugs market is driven by rapid development in technology, increase in funding for herbal medical drug research, changing lifestyles, rise in patient preference for herbal drugs, increase in government support for research & development, and adverse effects of allopathic drugs. According to the World Health Organization, 21,000 plants have been listed out to be medicinal plants across the world. Among these, 2500 species are in India, out of which 150 species are used commercially on a fairly large scale. Rise in prevalence of diabetes which leads to hyperglycemia is expected to drive the global antidiabetic herbal drugs market. However, rising incidences of diabetic patients with more preference towards use of herbal products is a major factor which can positively influence the use of antidiabetic herbal drugs in near future. However, high cost of research & development, high maintenance cost, and introduction of synthetic drugs for diabetes in developed countries are expected to restrain the global antidiabetic herbal drugs market during the forecast period.
The global antidiabetic herbal drugs market can be segmented based on application, therapy, distribution channel, and region. In terms of application, the market can be bifurcated into type 1 diabetes and type 2 diabetes. Based on therapy, the global antidiabetic herbal drugs market can be classified into botanical drugs and nutraceuticals. According to the Journal of Traditional and Complementary Medicine, 2018, herbal products in Malaysia are essential components in the medicine system. The herbal products market in Malaysia is estimated at US$ 1.1 Bn, with 15% to 20% growth rate. Hence, usage of medical herbs is likely to increase in the near future. In terms of distribution channel, the market can be categorized into hospital pharmacies, retail pharmacies, and online pharmacies.
Geographically, the global antidiabetic herbal drugs market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific dominated the global market in 2017 due to availability of different types of herbs and approvals and funding by governments for research & development of drugs. However, preference for antidiabetic herbal drugs by physicians over synthetic drugs is driving the medical biotechnology and pharmaceutical market which in turn is expected to propel the antidiabetic herbal drugs market in Asia Pacific. Europe was the second largest market for antidiabetic herbal drugs due to favorable government policies regarding health care infrastructure, high incidence of chronic diseases owing to environmental conditions, and rise in awareness programs against diabetes. The market in North America is expected to grow at rapid pace due to surge in demand for herbal products among the diabetic population, increase in incidence of diabetes among the geriatric population, changing lifestyles, and rise in awareness among patients about herbal drugs. Additionally, economic growth supports health care infrastructure improvement in developing countries such as South Africa, Israel, and Brazil. These factors are anticipated to fuel the growth of the antidiabetic herbal drugs market in Middle East & Africa and Latin America in the next few years.
Key players operating in the global antidiabetic herbal drugs market include Amrutanjan Healthcare Limited, Lupin Pharmaceuticals, Emami Group, Alps Pharmaceutical lnd. Co., Ltd., The Himalaya Drug Company, Tianjin Zhongxin Pharmaceutical Group Co., Ltd., Patanjali Ayurved Limited, BACFO Pharmaceuticals Ltd., and WELEX Laboratories Pvt. Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.