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Egypt ranks fourth globally in herbal medicine exports for 2022

Egypt emerges as a global leader in herbal medicine exports, ranking fourth worldwide in 2022. Discover the trend towards alternative medicine, driven by affordability and accessibility.
20.09.23 | Source: EgyptToday

In recent years, Egypt has risen to prominence as a significant player in the global export market for herbal medicine, securing the fourth position globally in the year 2022. This accomplishment was announced in a detailed report titled 'Alternative Medicine: A Global and Local Overview' by the Information and Decision Support Center of the Council of Ministers. The report goes beyond this ranking, delving into the role of the World Health Organization (WHO) and Egypt's status in the field of alternative medicine. Also emphasized is the growing international trend towards alternative medicine, propelled by healthcare affordability and accessibility issues exacerbated by recent health crises such as the COVID-19 pandemic and economic upheavals. The report also touches upon Egypt's herbal medicines trade indices and its burgeoning medical tourism. A significant market growth of 20.8% is projected for alternative medicine from 2022 to 2027 with the global market estimated to reach $315.5 billion by 2027, up from nearly $100.04 billion in 2021. Future growth continues to be influenced by several key factors such as rapid advancements in traditional medicine, the economic significance of the sector, and a robust e-commerce ecosystem propelling the reach of herbal remedies. Moreover, the study spotlights the increasing role of healthcare insurance companies in facilitating market growth by integrating coverage for alternative and complementary medicine.