Global Arnica Montana Market: Introduction
The arnica montana is a yellow daisy-like flower, which grows 1-2 feet tall. It is found in the hills of central and Northern Europe and Siberia. This arnica montana can also be found sparsely in the northwestern America. Few common names of the arnica montana are mountain tobacco, leopard’s bane and mountain daisy. The arnica montana can be used as a gel, ointment or cream on injuries. It is also taken internally after diluting it homeopathically. Nowadays, the arnica montana is widely used as a homeopathic medicines all over the globe. This product is trusted by professional athletes to relax painful muscles and key cosmetics surgeons recommend it for post-surgery pain relief. Also, to help recover from stiffness in long car drive, arnica montana is essential for each medicine cabinet.
Global Arnica Montana Market: Dynamics
The key driving factor, such as the significantly growing homeopathic industry and its high demand for preparing homeopathic medicines will help to raise the global arnica montana market over the forecast period over the forecast period. The macroeconomic factors such as increasing government healthcare spending across key countries and developing countries such as China, India and Indonesia, which stimulate the demand for arnica montana globally during the forecast period.
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Moreover, the rising inclination of consumers towards homeopathic medicines, due to no side-effects, will fuel the global arnica montana market growth over the forecast period. Furthermore, rapidly increasing R&D to launch new and innovative drugs by using arnica montana that will help to generate a significant growth in the global arnica montana market. With the increase in mergers and partnerships between local suppliers and large arnica montana providers will push the global arnica montana market growth during the forecast period. The key restraining factors including stringent government regulations and low availability in many regions, such as APEJ and MEA, may hinder the global arnica montana market growth over the forecast period.
Global Arnica Montana Market: Segmentation
Global arnica montana market is segmented based on source, application, sales channel and regions.
Based on source type, the global arnica montana market can be segmented as:
- Wild Collected
Based on the application type, the global arnica montana market can be segmented as:
- Homeopathic medicines
- Cosmetics Products
Based on sales channel type, the global arnica montana market can be segmented as:
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The farmed segment is estimated to account for significantly high market value in global arnica montana market due to its high demand for preparing homeopathic medicines. Key market players are focusing on increasing the production to meet the global arnica montana demand for the pharmaceutical industry. Moreover, homeopathic medicine segment are anticipated to witness high opportunity and value growth in global arnica montana market owing to its robust demand for preparing pain relief medicines.
Global Arnica Montana Market: Regional Overview
The global arnica montana market is segmented into seven regions: North America, Latin America, Europe, CIS & Russia, Japan, APEJ (the Asia Pacific excluding Japan) and MEA (the Middle East and Africa). Among regions mentioned above, North Americas is estimated to showcase a significant demand growth of arnica montana to produce homeopathic pain relief medicines along with its herbal use among consumers. Moreover, Europe is expected to witness high growth in global arnica montana market due to the robust production growth in the key countries including Siberia, Estonia, Romania and other European countries. As Europe has the largest production capacity of the arnica montana flowers in the world, followed by North America region. Besides, Romania is the key producer of wild-collected arnica montana flowers, which mainly exports to Italy, France, Germany and Switzerland. Romania exports its approx. 75% of arnica montana flowers to Germany. Furthermore, due to rapid growth in urban population along with consumers inclination towards homeopathic medicines will help to grow the APEJ arnica montana market during the forecast period. Also, Japan is estimated to see a high growth in global arnica montana market attributed to high demand for arnica montana product to prepare herbal medicines and cosmetics during the forecast period.
Global Arnica Montana Market: Prominent Players
The prominent players of the global arnica montana market are Texas Natural Supply, ORGANIC ARNICA Flower Whole Bulgaria, Starwest Botanicals, Mountain Rose Herbs, Jairamdass Khushiram, Em’s Herbals Pacific Botanicals, and other key market players. Besides, key market players are targeting regional expansion through partnerships with local suppliers during the forecast period.
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