Albany, NY -- (SBWIRE) -- 04/16/2019 -- 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.
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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.
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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.
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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.