Bolivia is a country with many cultural traditions, passed from generation to generation. One of these is traditional natural medicine, which is still used by a significant percentage of the population.
Seeking to promote growth and regulate the field of traditional natural medicine, the government launched the Single Registry of Traditional Bolivian Ancestral Medicine (Rumetrab) in 2017. Through the introduction of a registry for professional practitioners of traditional medicine, the government intends to ensure quality and monitor the quantity of providers of traditional medicine and differentiate them from other types of doctors.
Sales of local herbal/traditional products are driven by small and medium-sized enterprises, which take advantage of the country’s broad availability of herbal raw materials in their productive processes. These players utilise ingredients such as wira, eucalyptus, chia, amaranth, maca, guarana and quinoa, among several others.
Traditionally, locally produced herbal/traditional products have been concentrated in areas such as topical analgesics, sleep aid products and digestive remedies. With the entry of imported global brands, the category saw strong value growth, primarily focused on herbal/traditional vitamins and dietary supplements, a segment not significantly addressed by local production.
Increasing consumption of natural products is attracting private and state investment in manufacturing facilities for herbal/traditional medicines. Laboratorios Hahnemann operates a pharmaceutical plant with a specific line of natural products, comprising more than 150 remedies, including anti-inflammatory, energetic, relaxing and antioxidants in tablet, drop, spray, sachet and gel formats.
Distribution channels for herbal/traditional products are specialised according to type of product and consumer profile. Herbal/traditional remedies rely primarily on health shops and pharmacies, while the herbal/traditional vitamins dietary supplements category focuses on the direct selling channel.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Discover the latest market trends and uncover sources of future market growth for the Herbal/Traditional Products industry in Bolivia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Herbal/Traditional Products industry in Bolivia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Herbal/Traditional Products in Bolivia market research report includes:
Our market research reports answer questions such as:
Why buy this report?
This industry report originates from Passport, our Consumer Health market research database.