Market entry into the European market for phytomedicine


The European market for phytopharmaceuticals is dominated by companies selling products from the European naturopathy. Despite the relatively limited number of European medicinal plants suitable for the production of phytopharmaceuticals, compared to China, phytopharmaceutical companies have achieved sales of 1.65 billion euros in 2016 in Germany.

 

European consumers have great confidence in pharmacy-dependent phytopharmaceuticals and are increasingly using purely herbal medicinal products, especially in self-medication. The producers of phytopharmaceuticals benefit because herbal medicinal products, with scientifically proven effects and minimal side-effects, are becoming an increasingly important alternative to chemically synthesized drugs in many diseases.

 

Traditional Chinese medicine (TCM) phytopharmaceuticals could greatly expand the range of herbal medicines available to the European market, substitute some products and open up a wide range of treatment options for doctors and patients. Although there is a simplified authorization procedure for traditionally used phytopharmaceuticals in the European Union (EU), almost none of the 60,000 phytopharmaceuticals traded on the Chinese market has European authorization. It is often difficult for Chinese companies to properly assess the needs of European consumers in relation to herbal medicines. The complex EU regulations for phytopharmaceuticals represent a further hurdle. The team of the ConPhyMed GmbH has been working intensively on the scientific research and on the therapeutic applications of TCM; the question is how phytopharmaceuticals from TCM can be brought to the European market. Based on many years’ experience in the field of TCM in Europe, there are bundles of benefits that are based on knowledge of the EU/TCM market, EU health systems, legal frameworks, quality criteria and quality expectations of consumers, as well as of patients’ needs and education systems. This enables the development of innovative and promising strategies for Anhui Jiren Pharmaceutical to entry the European market for phytopharmaceuticals. In addition, the network of ConPhyMed GmbH offers the opportunity to underline the quality, effect and harmlessness of herbal medicines with internationally recognized clinical and pharmacological studies.

 

If a Chinese phytopharmaceutical company wants to be the first to offer a broad TCM product portfolio to the EU market, now is a favorable time for entering a sustainably growing market. The ConPhyMed GmbH will provide an excellent strategy for market entry, which takes into account all the peculiarities of the European market for Asian phytopharmaceuticals, and rapid courageous implementations, which is decisive for economic success.