Malaysian Herbal “Cures” Industry Set To Soar To RM12 Billion
posted in - CAM watch, - Nation, - Palmdoc |So screams the Bernama news item.
The market value of the local herbal supplements and cures industry is expected to increase to RM12 billion this year compared with RM10 billion last year as a result of the increasing acceptance of herbal medicine by consumers, says the chairman and founder of Global Bio-Herbs Economic Forum Council, Datuk Yeat Sew Chuong.
“Demand is increasing yearly because of better knowledge and information about these cures,” he said, adding that Europe and North America still accounted for the bulk or 80 per cent of the sale of herbal cures.
“This means that the market potential for herbal cures in Asia is huge,” he told Bernama in conjunction with the 2nd Global Bio-Herbs Economic Forum to be held at the Putrajaya International Convention Centre from Nov 15 to 17.
Yeat also said the potential for Malaysian companies to grow in the herbal supplements and cures was enormous in view of the country’s rich bio-diversity.
“From RM12 billion this year, we can look forward to more when we get our act together in terms of production, research and development (R&D), clinical trials and marketing,” he told Bernama.
Staggering amount isn’t it. I find it also amazing people can in one breath say “clinical trials and marketing” as though both can go hand in hand at the same time. Shouldn’t clinical trials to prove or disprove efficacy come before marketing? I guess it doesn’t matter when the sole object is $$$$.
There’s no doubt there are some herbs with some medicinal properties but I haven’t really seen sound evidence that any herb is of significant benefit in the treatment of serious illnesses like cancer, ischaemic heart disease etc.
We do post news in our CamWatch category whenever we come across news in the alternative medicine world and sadly many of the trials have proven negative.
Americans spend billions of dollars not knowing it’s a Herbal Minefield. As long as we’re doing the selling I suppose who cares?
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November 13th, 2008 at 4:22 pm
what I can’t stomach is the bandying of monetary benefits by the proponents of herbal supplements. as if profit is the rationale for everything.
maybe we should inform them coca and poppy ‘agriculture’ is even more profitable, with a large fanatically loyal customer base, and has centuries of linkage with cultural practices.
November 13th, 2008 at 11:14 pm
Yep…gave up medicine long time ago….am into Amway and Chinese herbs these days….And better still, no need to use full name and registration number when practicing natural medicine. Beats doing calls and dishing out anti histamines and cough mixtures anytime….not to mention pesky MC addicts….