Friday, June 20, 2008

US herbal market saturation 1999

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.