US herbal market nearing saturation
The market is expected to peak at $6 to $8 billion in the next two
to three years, according to Dr. Herbert Loveless, healthcare expert
with the consulting group ExperTeam. The herbal dietary supplement market
has been growing at an annual rate of 25 percent and is currently estimated
at $4 billion. Loveless does not believe that the US herbal market can
markedly outperform the more mature market in Europe which is currently
valued at $6 billion. "The supplement industry's only hope for
continued growth is new federal legislation that will establish a separate
track for herbal medications [other than new drug applications which
are too costly] that will give some type of exclusivity," Loveless
stated.
PR Newswire, September 29, 1999.
|
