Chinese herbal medicine is now a major part of the market, and the demand is expected to continue growing.
The Chinese herbal market is expected grow by an estimated 6.3 per cent annually in 2020, according to a report by Chinese research firm Citi.
China’s herbal medicines market is forecast to grow by nearly 25 per cent in 2020.
According to a recent report by China National Drug Administration, China has the highest annual production of herbal medicines in the world.
The country has produced around 1.5 billion doses of herbal medicine since 2000.
In terms of sales, the country is estimated to be producing more than 30 million doses of medicines a year.
The market is particularly strong in China, where the country produces nearly 40 per cent of global supply of herbal and medicinal products.
China produces almost 70 per cent the global demand for herbal medicines.
According the report, the demand for China’s medicinal products is expected increase by 6.2 per cent each year between 2020 and 2040, compared to the same period last year.
This will translate into an annual increase of more than 6.7 billion doses annually.
According with the report published on the Chinese Ministry of Health website, there are currently around 10,000 herbal medicines registered in China.
China has a total of 2.2 million herbal medicines listed on the government website.
The market is also expected to grow at a rapid rate, with a projected annual growth rate of 5 per cent between 2020-2040.
According in the report by Citi, China’s overall herbal medicines volume is expected hit by a shortage of medicine, and a reduction in its supply of medicines.
The report also pointed out that China is one of the major producers of traditional medicines in China with a total medicinal supply of about 50 per cent.