The Herbal Medicine Market is Increasing Around the World
All around the world, people are looking at herbal medicine as a way to treat their health problems. For years, herbal medicine has been used to not only treat a variety of illnesses but also to prevent health problems. The herbal market is thought to be around hundred and $60 billion globally each year.
The Nigerian Natural Medicine Development Agency, NNMDA, has recently expressed hope of developing herbal medicine and that they are wishing to contribute to the global market more effectively over the next several years.
A presentation was recently made by a pharmaceutical chemist saying that there is a steady growth in demand and trade of herbal medicine. In Europe alone, $8.9 billion was contributed to herbal sales in North America contributed another $4.5 billion. The sales were in 2002 – and sales have only grown considerably since then.
Alternative health products are becoming more popular because they do not have the same side effects as prescription drugs. There are a variety of health products that produce significant health benefits including weight loss remedies, laxatives, sexual performance aids, anxiety and stress relief, and even immune system boosters.
Through the agency, Nigeria has been developing a long list of herbal medicine and documenting medicinal plants that have a pharmaceutical purpose. This will significantly improve African medicine and allow more people to benefit from health care without a concentration on orthodox medicine, which is a highly concentrated area that is typically reserved for high income countries.
Significant research is being done to show that herbal medicine can be just as effective, if not more effective, then a lot of the orthodox medicine on the market. With the list of medicinal plants growing in Nigeria, it is estimated that the country will be contributing significantly to natural product development significantly over the next several years.