Cordyceps Sinensis and Militaris: Market outlook
Cordyceps sinensis and militaris is a mixture of parasitic fungal species and dead caterpillars providing many possible applications for health. It has been used in Tibetan medicines and Chinese traditional medicine and Tibetan medicine as a treatment for approximately 21 conditions such as high blood pressure, poor immunity, etc. Within the body of the caterpillar, cordyceps spores expand and infect it, gradually destroying the living larva and mummifying it in the soil. In the end, a cordyceps stem grows from the caterpillar’s head.
Cordycepin, monosaccharide saponin, exopolysaccharide fraction (EPSF), adenosine and cordyglucans, are key active ingredients in the cordyceps sinensis extract. Scientific research and clinical trials have shown that extract from cordyceps sinensis can effectively treat diabetes, high cholesterol and hypertension. It also improves immunity and serves as a stress reliever for stress-related disorders. Owing to these properties, it is anticipated to boost the growth of cordyceps sinensis and militaris market is over the forecast period.
Increasing Prevalence of Chronic Diseases to Boost the Sales of Cordyceps Sinensis and Militaris Extract
According to figures from the World Health Organizations, non-communicable diseases accounted for more than 41 million deaths annually in 2018, which is equal to 71% of all deaths globally. In addition, cardiovascular diseases cause more than 17.9 million deaths each year, followed by cancer (9 million), respiratory illnesses (3.9 million), and diabetes (1.6 million), respectively.
Moreover, the growing demand for herbal medicine in primary healthcare is projected to contribute to the development of the market for cordyceps sinensis and militaris. For example, the demand for herbal cordyceps extract increased substantially in 2016 and 2017, due to its use in nutritional supplements for respiratory function, sports, strength, sexual health and many other supplementation.
The rising prevalence of chronic diseases including diabetes, cardiovascular disease, respiratory and cancer diseases is expected to drive the adoption of cordyceps sinensis extracts preventive healthcare products, which is further anticipated to grow the growth of the cordyceps sinensis extract market in the upcoming years.
Rise of Traditional Chinese Medicine in the Medicinal Community is anticipated to push the Market Growth
Cordyceps sinensis and militaris in Traditional Chinese Medicine (TCM). Militaris are potential herbal therapeutic bio-metabolites. For many biotechnological and clinical applications such as genetic and nutritional criteria this type of cordyceps has shown considerable significance.
Traditional Chinese Medicine (TCM) includes traditional Chinese medicinal items, decoction parts, proprietary Chinese medicinal products, herbal extracts, and healthcare products. TCM goods are expected to be internationalized to help other countries and regions grow and export conventional Chinese medicines to support the healthcare industry. Cordyceps sinensis is amongst all the TCM products the most explored species followed by Cordyceps militaris.
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For instance, according to the National Center for Biotechnology Information Report, Traditional Chinese Medicine (TCM’s) total import and export value in 2016 amounted to US$ 4.6 billion, representing 4.45% of the total value of Chinese pharmaceutical products imported and exported. Nevertheless, the value of exports dropped by 9.13% from US$ 3.77 billion in 2015 to US$ 3.426 billion in 2016, while the value of imports rose by 14.50% from US$ 1.025 billion in 2015 to US$ 1.174 billion in 2016.
Global Cordyceps Sinensis and Militaris: Key Players
Some of the market participants operating in the global cordyceps sinensis and militaris market are The Lubrizol Corporation, Shanghai Kangzhou Fungi Extract Co., Ltd., Naturalin bio-resources co., Ltd, Quyuan sunnycare Inc., Nutra Green Biotechnology Co., Ltd., Xi’an Saina Biological Technology Co., Ltd. (Herbsino), Health Choice Limited, Dalong Biotechnology Co., Ltd, Nutrastar International Inc. among others.
Increasing Demand for Cordyceps Sinensis and Militaris Creating Opportunities for New Players in Cordyceps Sinensis and Militaris Market
Asia Pacific, due to the growing production of cordyceps sinensis and militaris extract in this region, is expected to show substantial growth in the cordyceps sinensis and militaris extract market. Species of cordyceps including C. Sinensis, C. Militaris are found in abundance in high-altitude provinces like Tibet and the Chinese provinces of Sichuan, Qinghai, Yunnan and Gansu, which contribute to this region’s booming market.
North American manufacturers mainly import cordyceps sinensis extract to produce different forms of medicinal formulations, such as capsules and tablets. Growing numbers of patients with mental disorders are anticipated to substantially increase the adoption of cordyceps sinensis extracts as it has considerable benefits in reducing mental disorder-related symptoms including depression, anxiety.
High price of cordyceps sinensis is a major factor that impede the sales growth. Wild cordyceps sinensis is not used in most cordyceps supplementation due to its high price. Adoption of such expensive traditional Chinese medicine is low in emerging economies such as Africa and Latin America. However, creating opportunities for the new entrants to penetrate their products in the market.