Increasing emergence of traditional Chinese medicine in medicinal community is expected to drive growth of the cordyceps sinensis and militaris extract market
Traditional Chinese medicine (TCM) Cordyceps sinensis and C. Militaris are the potential bio-metabolites for herbal medicines. This cordyceps category has shown considerable significance in several clinical and biotechnological applications such as genetic and nutritional requirements.
TCM comprises traditional Chinese medicinal materials, decoction pieces, Chinese patented medicines, herbal extracts, and healthcare products. Internationalization of TCM products is expected to help other countries and regions to develop and produce traditional Chinese medicines in order to serve the healthcare industry. Among all the TCM products, Cordyceps sinensis is the most explored species, followed by C. millitaris.
For instance, as per the National Center for Biotechnology Information report, in 2016, the total import and export value of TCM was accounted for US$ 4.6 Bn, which represented 4.45% of the total value of import and export of Chinese pharmaceutical products. However, the value of export declined by 9.13%, from US$ 3.77 Bn in 2015 to US$ 3.426 Bn in 2016, while the import value increased by 14.50%, from US$ 1.025 Bn in 2015 to US$ 1.174 Bn in 2016.
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Government led initiatives in promoting development of traditional Chinese medicine (TCM), are expected to increase the utilization of TCM in the healthcare industry worldwide. For instance, in February 2013, the Chief Executive of Legislative Council Panel on Health Services, China, established the Chinese Medicine Development Committee (CMDC) to focus on the study of four major areas, namely the development of Chinese medicine services, personnel training and professional development, research and development, as well as development of the Chinese medicines industry (including Chinese medicines testing).
In the recent past, utilization of natural medicine in healthcare industry has increased significantly. The Cordyceps sinensis and cordyceps militaris, traditional Chinese medicine is one such herbal medicine that has witnessed an increase in adoption. Both cordyceps sinensis and militaris extract possesses medicinal properties such as cholesterol reduction, stimulation of the immune system, faster recovery from bronchitis and other respiratory diseases. Furthermore, it can also increase efficiency of the circulatory system, and these are factors expected to increase the demand for cordyceps species in the healthcare industry.
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Cordyceps Sinensis and Militaris Extract Market- Regional Analysis
Regional segmentation of the global Cordyceps Sinensis and Militaris Extract Market comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
Manufacturers in North America region are importing cordyceps sinensis extract to produce different types of medical formulations such as tablets and capsules. For instance, in August 2018, HANAH Life, the developer of Ayurvedic super food HANAH ONE, launched its Cordyceps+ in the North America market. Cordyceps+ is a combination of wild Bhutanese Cordyceps sinensis, with eight other herbs and minerals. The price of HANAH Cordyceps+ is US$168 for 30 capsules in the U.S. Furthermore, increasing number of patients with mental disorders is expected to significantly expand adoption of cordyceps sinensis extracts as it has immense benefits in lowering symptoms related to mental disorders such as depression, anxeity.
Cordyceps Sinensis and Militaris Extract Market – Competitive Landscape
Key players operating in the cordyceps sinensis and militaris extract market include Naturalin bio-resources co., Ltd, The Lubrizol Corporation, Quyuan sunnycare Inc., Shanghai Kangzhou Fungi Extract Co., Ltd., Xi’an Saina Biological Technology Co., Ltd. (Herbsino), Dalong Biotechnology Co., Ltd, Health Choice Limited, Nutrastar International Inc., Nutra Green Biotechnology Co., Ltd.
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