Pygeum Bark Extract Market Introduction:
Pygeum bark extract is extracted from Pygeum africanum an African cherry tree, which is an evergreen tree found at higher altitudes across Africa. This tree is known to be used in historic times dating back to the 1700s. Tribes in southern Africa region used the bark to treat bladder discomfort. The pygeum bark extract has been used in European region to treat benign prostatic hyperplasia since the 1960, and is currently the most commonly used treatment for this condition in France. Numerous researches have been carried out and various properties and active constituents have been mapped for herbal medicinal purposes. Pygeum bark is known to contain various beneficial constituents, including phytosterols such as beta-sitosterols, which exhibit anti-inflammatory action by inhibiting the production of prostaglandins in the prostate.
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Pygeum Bark Extract Market Segmentation:
Pygeum bark extract is available in almost every dosage form including capsules and tablets, hence this herbal medicine is expected to account for a significant growth in the market during the forecast period. Originally available in powder form, increasing with a steady growth rate and yield a larger portion in terms of volume attributed to the diversity in use and ease of handling. The benefits of pygeum bark extract has created a costumer side demand and hence formulations of different kind have been developed and the shift in consumer trust towards herbal medicines is expected to drive the pygeum bark extract market during the forecast period.
Pygeum Bark Extract Market Regional Outlook:
The Western European region, with its high expenditure on herbal medicine research is expected to drive the pygeum bark extract market. The North American region has registered an ever increasing demand and acceptance in herbal products which is expected to further grow, contributing to a major factor for growth in the region. The Asia pacific region is also expected to see a steady increase in the market growth due to a large population’s belief in traditional remedies. The pygeum bark extract market in Japan is also expected to represent an upsurge in the market growth in the forecast period. China being the largest exporter of herbal medicines followed by India. There is an increasing demand of herbal products throughout the globe with the major exports accounting to the following regions; North America, Latin America, Europe, Middle East, Asia Pacific and Africa. In regional segments North America accounts for a significantly higher share whereas rise in market demand originating from developing countries, Asia Pacific regions are expected to grow to a considerable fraction during the forecast period.
Pygeum Bark Extract Market Drivers and Trends
Pygeum bark extract offer an alternative to pharmaceutical medicines which could have higher side effects. Thus the wellbeing concerns among health conscious consumers is expected to drive the pygeum bark extract market during the forecast period. The trends in use of traditional or herbal medicines is different for different regions, for example manufacturers do not need to register their products with FDA in US or get an approval, these are sold as dietary supplements. For this reason a large number of herbal products are flooding the American market and gaining high acceptance among masses. The increased focus in innovation in herbal products in Western Europe is generating supply side demand and countries like Germany and France are spending high amounts on research. In Indian regulatory system the marketing and sales of herbal products are furthermore liberal, herbal products are established products being used from a long time hence there is no safety study required for established products, this is expected to act as a driving tool for the growth of the herbal product market including pygeum bark extract.
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Pygeum Bark Extract Market Key Players:
Pygeum bark extract does not have a great product recall but is gaining acceptance at a growing rate and some of the key players participating in the global tomato extract market includes; Nutraceutical International Corporation, Nutra Green Biotechnology Co., Ltd., Xi’an Natural Field Bio-Technology Co.,Ltd., Nature’s Way Products, LLC., among other.