The china traditional Chinese medicine (TCM) market has witnessed increased attention and demand during the COVID-19 pandemic. With high percentages of TCM treatments reported in Hubei and Wuhan and a national average of TCM patients receiving treatment, the market has experienced a surge in interest. However, skepticism remains regarding the statistical approach and pathology behind TCM's effectiveness in COVID-19 treatment. The growth of TCM during the pandemic, its role in the healthcare system, challenges, regulatory landscape, and opportunities for future development.
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Data Bridge Market Research analyses that the China Traditional Chinese Medicine Market which was USD 19491.21 million by 2022, is expected to reach USD 47915.88 million by 2030, at a CAGR of 11.9% during the forecast period 2023 to 2030. The growing demand for holistic and natural therapies is a significant driver of the China traditional Chinese medicine (TCM) market. As more individuals seek alternatives to conventional medicine, TCM provides a comprehensive system that focuses on balance and harmony within the body. With its emphasis on natural remedies, herbal medicines, acupuncture, and other TCM practices, it aligns with the preferences of those looking for holistic healthcare solutions.
Key Findings of the Study
The Off-label drug usage for ASD (Autism Spectrum Disorder) and ADHD (Attention Deficit Hyperactivity Disorder) is expected to drive the market's growth rate
Off-label drug usage for ASD (Autism Spectrum Disorder) and ADHD (Attention Deficit Hyperactivity Disorder) cases can be considered a driver of the china traditional Chinese medicine (TCM) market. As conventional treatments for these conditions may have limitations or side effects, some individuals and families may seek alternative therapies such as TCM. TCM offers a holistic approach to healthcare and has been used for centuries to address various health conditions, including neurological disorders. The growing interest in exploring TCM as a complementary or alternative treatment option for ASD and ADHD cases contributes to the demand and growth of the TCM market in China.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Therapy Type (Acupuncture, Cupping Therapy, Herbal Medicine, Aroma Therapy, Compounding Therapy and Magneto Therapy), Application (Osteoarthritis, Cold and Flus, Stress, Muscle Spasms, Chronic Fatigue Syndrome, Tension Headache, Menstrual Pain, Insomnia, Infertility in Women, Irregular Menstruation, Sexual Dysfunction in Men, Cough, Allergies, Menopause, Cardiovascular Disease, Respiratory Infections, Diabetes, Asthma, Eczema, Constipation, Weight Loss, Cancer Treatment, HIV Support, Epilepsy, Irritable Bowel Syndrome, Dementia and Others), End User (Clinics, Home Healthcare and Hospitals), Distribution Channel (Direct Tender, Retail Sales and Pharmacies))
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Market Players Covered
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China Traditional Chinese Medicine Holdings Co. Limited (Hong Kong), China SXT Pharmaceuticals, Inc. (China), Merro Pharmaceutical Co., Ltd (China), PuraPharm International (H.K.) Ltd. (China), Zhangzhou Pien Tze Huang Pharmaceutical Co.,Ltd (China), Tasly Holding Group (China), Zhengzhou Ruilong Pharmaceutical Co.,Ltd. (China), Yunnan Baiyao (China), Impression Jumpcan (China), Guangzhou Pharmaceutical Holdings Limited (China), Kangmei Pharmaceutical Co., Ltd. (China), Beijing Tong Ren Tang Chinese Medicine Co. Ltd. (China), Xiamen Traditional Chinese Medicine Co., Ltd. (China), KPC Pharmaceuticals, Inc (China)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
The traditional Chinese medicine market is segmented on the basis of therapy type, application, end user, and distribution channel
- On the basis of therapy type, the traditional Chinese medicine market is segmented into acupuncture, cupping therapy, herbal medicine, aroma therapy, compounding therapy and magneto therapy.
- On the basis of application, the traditional Chinese medicine market is segmented into osteoarthritis, cold and flus, stress, muscle spasms, chronic fatigue syndrome, tension headache, menstrual pain, insomnia, infertility in women, irregular menstruation, sexual dysfunction in men, cough, allergies, menopause, cardiovascular disease, respiratory infections, diabetes, asthma, eczema, constipation, weight loss, cancer treatment, HIV support, epilepsy, irritable bowel syndrome, dementia and others.
- On the basis of end user, the traditional Chinese medicine market is segmented into clinics, home healthcare and hospitals.
- On the basis of distribution channel, the traditional Chinese medicine market is segmented into direct tender, retail sales and pharmacies
Major Players
Data Bridge Market Research recognizes the following companies as the major China traditional chinese medicine market players in China traditional chinese medicine market are China Traditional Chinese Medicine Holdings Co. Limited (Hong Kong), China SXT Pharmaceuticals, Inc. (China), Merro Pharmaceutical Co., Ltd (China), PuraPharm International (H.K.) Ltd. (China), Zhangzhou Pien Tze Huang Pharmaceutical Co.,Ltd (China), Tasly Holding Group (China), Zhengzhou Ruilong Pharmaceutical Co.,Ltd. (China)
Market Development
- In March 2020, PuraPharm International (H.K.) Ltd. expanded its distribution network in mainland China, aiming to boost sales of their anti-epidemic Chinese Medicine granules. This strategic move allowed the company to tap into a vast consumer base and enhance revenue generation. By leveraging a broad distribution network, PuraPharm International successfully increased the accessibility of their products, meeting the growing demand for Chinese Medicine granules.
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