subject: WORLD WIDE HERBAL TRADE [print this page] WORLD WIDE HERBAL TRADE WORLD WIDE HERBAL TRADE
The global market for herbal medicines currentlystands at over $60 billion annually. The sale of herbalmedicines is expected to get higher at 6.4% an averageannual growth rate. Due to the contribution ofnumerous significant factors, the market of herbalmedicines has grown at an expressive rate worldwide.Some of them are: preference of consumers for naturaltherapies; concern and regarding undesirable side effects ofmodern medicines and the belief that herbal drugs arefree from side effects, since millions of people all overthe world have been using herbal medicines forthousands of years; great interest in alternativemedicines; preference of populations for preventivemedicine due to increasing population age; the beliefthat herbal medicines might be of effective benefit inthe treatment of certain diseases where conventionaltherapies and medicines have proven to be inadequate;tendency towards self-medication; improvement inquality, proof of efficacy and safety of herbal medicines and high cost of synthetic medicines.
According to World Health Organization, herbalmedicines are lucrative globally and they represent amarket value of about US$ 43 billion a year. According to an estimate in 1991, the herbal medicinemarket in the European countries was about $ 6 billion,with Germany accounting for $ 3 billion, France $ 1.6billion and Italy $ 0.6 billion while in other countrieswas 0.8 billion. In 1996, the herbal medicine market inthe European countries was about $ 10 billion, in USA about $ 4 million, in India about $ 1.0 billion and inother countries was $ 5.0 billion. In 1997, theEuropean market alone reached about $ 7.0 billion. TheGerman market corresponds to about 50% of theEuropean market, about $ 3.5 billion. This market isfollowed by France, $ 1.8 billion; Italy, $ 700 million;the United Kingdom, $ 400 million; Spain, $300million; the Netherlands, about $ 100 million......
