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TCM-Phytomedicine products: great demand – hardly any supply
The European market for phytopharmaceuticals is mainly dominated by companies marketing products from European natural medicine. Despite the limited number of European medicinal plants for phytopharmaceutical production, manufacturers generated sales of €1.618 billion in Germany alone in 2022. European consumers trust pharmacy-only phytopharmaceuticals and are increasingly using purely herbal medicines for self-medication, as they offer scientifically confirmed efficacy and low side effects. Phytopharmaceuticals from e.g. Traditional Chinese Medicine could expand the range, substitute or offer new treatment options, but European approval is lacking.
Asian companies encounter difficulties in adapting to European needs and complex regulations. We have the necessary expertise and can support you with our know-how to enter the European market. We develop innovative strategies and conduct clinical trials to confirm the quality and efficacy of herbal medicines. Currently, there is a favorable opportunity for Asian companies to enter the growing European market for phytopharmaceuticals. A well thought-out market entry strategy is crucial for success in this market.
High demand - your chance!
According to a study (Pascoe 2007), 80.9% of patients would prefer a natural medicine preparation to a chemical one.
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The right strategy
Herbal medicines from Traditional Chinese Medicine (TCM) are hardly represented on the European market. Only two products have EU approval, and two others are approved only in Great Britain. These products hardly play a role in medical prescriptions because they have been inadequately selected. In contrast, more than 60,000 TCM medicines are approved in China, generating annual sales of 107.5 billion euros.
In Germany, TCM medicines have previously been offered in pharmacies as individual mixtures, but a new regulation has increased the cost of identity testing of starting materials and made distribution unprofitable. As a result, patients must now laboriously obtain personalized mixtures from TCM physicians.
There is a significant gap in the market for simple dosage forms of Chinese phytomedicine in Europe. So far, Chinese phytopharma companies have not filled this gap, due to poor market entry strategies.
We are committed to changing this situation and paving the way for Chinese companies to enter Europe.
Product portfolio
The development of a broad product portfolio in the field of Traditional Chinese Medicine (TCM) phytopharmaceuticals creates synergies and security. Europe presents a considerable gap in the market, allowing companies to develop a wide range of innovative and convenient dosage forms for Chinese phytomedicines. This opportunity opens the possibility to meet the growing demand of European consumers and establish an influential place in this promising market segment.
By the way – our solutions allow you to do this without investing millions. Contact us!
