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herbal medicine or herbal functional products (generally called herbal medicine) to improve health or to cure diseases. This is approximately 70% to 80 % of the total world population.
According to the international medical statistic yearbook, PhytoPharm Consulting, the global market of herbal medicine and galenical medicine was 22.4 billion US dollars in 2002, 23 billion US dollars in 2003, and has been growing by 10 to 12 percent annually. It is estimated that the market will exceed 26 billion US dollars in 2005, and the global market of herbal medicine will exceed 35 billion US dollars in 2006. As the medical insurance expenses keep rising in the Western countries where the western medicine is the mainstream, major insurance companies are seeking ways to reduce their costs. Among the various methods, one is to grant payment to specific herbal medicines, in the hope that the comparatively cheaper Chinese herbal medicine products can help control or improve patient's condition so as to avoid the far more expensive medical care as the patient's condition deteriorates. This has become a widely accepted concept, and hence the prosperous future of herbal medicine or herbal functional products can be expected. |