About Traditional Chinese Medicine
Traditional Chinese Medicine (TCM) is an alternative medicine which is drawn from traditional medicines in china. This medicines has a majority of treatments as having no logical mechanism or action. In the early twentieth century, Chinese cultural and political modernizers worked to eliminate traditional practices as backward and unscientific. Traditional Chinese Medicines includes therapy and Ayurvedic herbs which are founded in China and all over the globe. It includes Mugwort, Ginger, Garlic, Roots of plants, Stem, etc. This Traditional Chinese Medicine method runs over the decades and it is also consider as a one of the oldest medical process. Traditional Chinese Medicine was used in the treatment of Covid-19 during the early stages of the outbreak in China
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market for Traditional Chinese Medicine is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as product innovation and using various marketing strategies to gain a higher market share. Analyst at AMA Research estimates that China Players will contribute the maximum growth to Global Traditional Chinese Medicine market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
JD Health (China), Dihon (China), Tong Ren Tang (China), Kangmei Pharmaceutical (China), Tasly Pharmaceuticals Group (China), China Traditional Chinese Medicine Holdings Co. Ltd. (China), Yunnan Baiyao Group Co., Ltd (China), Dong-E-E-Jiao Co., Ltd (China), Shanghai Jahwa United Co., Ltd. (China), Eu Yan Sang Integrative Health Pte Ltd (Singapore), Integrated Chinese Medicine Holdings Limited (China), Leung Kai Fook Medical Company (Singapore) and China Resources Pharmaceutical Group Limited (China) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Traditional Chinese Medicine market by Type (Chinese Herbal Medicine, Acupuncture, Tai Chi, Cupping, Moxibustion and Others) and Region.
On the basis of geography, the market of Traditional Chinese Medicine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Hospitals & Clinics will boost the Traditional Chinese Medicine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Diseases, the sub-segment i.e. Asthma will boost the Traditional Chinese Medicine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Invention of New Traditional Herbs and Rising Adoption of Ayurveda Among Individuals
Market Growth Drivers:
Increasing Demand in Various Therapy, Increasing Demand in Treatment of Various Disease and Increasing Demand in Massage Parlors and Spa
Challenges:
Limited Knowledge Regarding Traditional Chinese Medicine, Lack of Professionals and Expertise and Sudden Demand in Covid-19
Restraints:
Lack of Prescription and Diagnosis Accuracy, Toxin Potential which is not Supportive in Some Disease and Contaminated of Toxic compounds, Pesticides and Micro-organisms in Come Traditional Herbs Medicine
Opportunities:
Growing Healthcare Infrastructure and Growing Demand of Cost-Effective Medical Services
Market Leaders and their expansionary development strategies
29 December 2021, In Close Collaboration With JD Health, The Internet Hospital Of The First Teaching Hospital Of Tianjin University Of Traditional Chinese Medicine (TCM) Was Launched On December 26th, Marking A Big Step Towards The “Internet + TCM” Model, In Which Tianjin Residents Can Easily Make Online Appointments With TCM Doctors And Order Medications For Home Delivery.
On 2 September 2020, JD Health Launched An “Online Service Platform For Prepared Slices Of Traditional Chinese Medicine (TCM)” On September 2nd, And Announced To Strengthen Its Cooperation With TRT Health, The Healthcare Subsidiary Of The Time-Honored Chinese Pharmaceutical Brand Tong Ren Tang.
Key Target Audience
Traditional Chinese Medicine, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.