Tripterygium wilfordii, popularly known as thunder god vine root is primarily used for the treatment of rheumatoid arthritis in traditional Chinese medicine. The side effects of Trpterygium wilfordi are relatively low and hence it makes an attractive option for arthritis patients to improve their quality of life. Apart from an herbal approach in arthritis the Tripterygium wilfordii root is claimed to have antifertility, antiviral, and antitumor activities although not enough clinical evidence is available to support the claims.
This root extract is gaining significant acceptance among the arthritis patients due to its herbal nature and increasing consumers trust on herbal medicines. The regulatory aspects of herbal medicines favor the growth of herbal products market in USA, India, China and many European countries. This is expected to fuel the market growth of herbal products including Tripterygium wilfordii in the forecast period.
Tripterygium wilfordii Extract Market Segmentation
The Tripterygium wilfordii root extract is segmented on the basis of dosage form, distribution channel and region. Tripterygium wilfordii is segmented on the bases of dosage form as tablets, capsules and powder. Originally available in powder form only, the benefits of Tripterygium wilfordii has created a costumer side demand and hence formulations of different kind have been developed and the shift in consumer trust towards herbal medicines is expected to drive the Tripterygium wilfordii market during the forecast period.
On the basis of distribution channel the Tripterygium wilfordii root extract market is segmented as retail, online retail, herbal specialty store and supermarket. With the increasing internet penetration in developing countries, the online sales of herbal supplements has also gained momentum and is expected at grow at a significant rate.
On the basis of region the Tripterygium wilfordii extract can be segmented into the following key regions; Western Europe, North America, Asia Pacific, Middle East and Africa. The Western European region, with its high expenditure on herbal medicine research is expected to drive the Tripterygium wilfordii market. The North American region has registered an ever increasing demand and acceptance in herbal products which is expected to further grow, contributing to a major factor for growth in the region. The Asia pacific region being the origin in use of Tripterygium wilfordii is also expected to see a steady increase in the market growth due to the a large populations belief in traditional remedie
Tripterygium wilfordii Extract Global Market Trends and Market Drivers:
The trends in use of traditional or herbal medicines is different for different regions, for example manufacturers do not need to register their products with FDA in US or get an approval, these are sold as dietary supplements. For this reason a large number of herbal products are flooding the American market and gaining high acceptance among masses.
The increased focus in innovation in herbal products in Western Europe is generating supply side demand and countries like Germany and France are spending high amounts on research. This is expected to act as a driving tool for the growth of the herbal product market including Tripterygium wilfordii root extract.
In Indian regulatory system the marketing and sales of herbal products are furthermore liberal, herbal products are established products being used from a long time hence there is no safety study required for established products. This is expected to catalyze the growth of Tripterygium wilfordii root extract market.
The Tripterygium wilfordii root market is of great potential due to the above limited regulations and the high amount of faith in people for the use of herbal products. The unavailability of herbal practitioners and high concentration of the practitioners in certain regions is expected to be a major restrain in Tripterygium wilfordii root market.
Tripterygium wilfordii Extract Market Key Players:
The Tripterygium wilfordii powder from Asia Pacific constitutes for a major market share and hence some of the key prayers are also concentrated in these areas. Some of the key global players include; Shaanxi Jintai Biological Engineering Co., Ltd., Xi'an Hao-Xuan Bio-Tech Co., Ltd., Hunan Jin Kang Biotechnology Co., Ltd., Stanford Chemicals Co. Organic Herb Inc. among others.
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