Germany has high public recognition and acceptance, and the investment prospects of the Chinese medicine industry are promising
Traditional Chinese Medicine (TCM), a collective term for traditional Chinese medicine and traditional Chinese medicine, is not only an important part of traditional Chinese culture, but also the most complete traditional medicine system in the world.
In recent years, with the gradual transformation of the modern medical model, more and more countries and people have realized the role of traditional Chinese medicine in modern health care. For example, in 2003, the World Health Organization (WHO) clearly pointed out that traditional medicines such as acupuncture and traditional Chinese medicine (TCM) are gaining widespread attention around the world in the global strategy for the development of traditional medicine. During the epidemic of the new crown epidemic, traditional Chinese medicine has become "popular" overseas at an astonishing speed, and even triggered a rush to buy in some areas. Nowadays, traditional Chinese medicine has basically won the trust and recognition of people all over the world. According to the data released by the State Administration of Traditional Chinese Medicine, traditional Chinese medicine has spread to 196 countries and regions in the world, and the cumulative number of people treated has reached more than one-third of the world's total population.
In recent years, with the rapid spread of traditional Chinese medicine culture, the global scale of traditional Chinese medicine has maintained an increasing trend year by year. Specifically, in 2023, the global traditional Chinese medicine market will reach 1.5 trillion yuan, and it is expected that this value will still maintain an average annual compound growth rate of 7.6% from 2024 to 2028, and is expected to exceed more than 2.2 trillion yuan by 2028. Among them, Asia-Pacific, North America and Europe are the main revenue markets for the global TCM industry.
The development advantages of the Chinese medicine industry in Germany are obvious, mainly due to the high acceptance of Chinese medicine by the local people. According to the "2024 Germany Traditional Chinese Medicine Industry Market Status and Overseas Enterprise Entry Feasibility Study Report" released by the New Thinking Industry Research Center, the spread of Chinese medicine culture in Germany has a long history, dating back to the second half of the 17th century, but it was recognized and promoted in the seventies and eighties of the 20th century, with acupuncture as the main representative product. In Germany, acupuncture has become one of the most popular programs in the field of traditional Chinese medicine due to its good efficacy, low cost and almost no side effects, and has gradually been incorporated into the Germany social health insurance system. This is also enough to see that the German people strongly respect traditional Chinese medicine, and the local Chinese medicine market is developing rapidly.
However, at present, in addition to acupuncture treatment, Germany's statutory health insurance does not cover other TCM treatment techniques, which require patients to pay out of pocket, which also leads to the German people giving up TCM treatment for economic reasons. In addition, there are only 6 types of traditional Chinese medicine that have been approved to enter the European market, namely ginseng, tangerine peel, atractylodes, rhubarb, saffron seeds, and knotweed, which are far from meeting the local demand for traditional Chinese medicine. In short, the existence of the above factors has affected the development process of the Chinese medicine industry in Germany.
Xinsijie Germany industry analysts believe that nowadays, traditional Chinese medicine has basically won the trust and recognition of people around the world, such as Germany. Thanks to the increasing acceptance of TCM by the local people, the TCM industry in Germany has developed rapidly, and acupuncture treatment has been successfully incorporated into the social health insurance system in Germany. However, at present, affected by factors such as technology gaps and herbal medicine shortages, there is still a large space for development in the Chinese medicine industry in Germany, and there are huge opportunities for Chinese companies to go overseas.