Also, Chinese citizens showed more passion for discussing and sharing their skincare experience at home. The COVID-19 outbreak greatly contributed to this growth.ĭata Source: SCMP, graph by daxue consulting, sales volume on Alibabaĭuring the outbreak, people consumed and talked more about skincare products than cosmetics. The forecast predicts that the market of traditional Chinese medicine market will grow and reach 796 billion yuan in 2022. Furthermore, the State Council called for the protection and industrialization of TCM herbs and innovation in the TCM industry. It will encourage the establishment of a more sophisticated TCM service network that covers both urban and rural areas. The policies issued will facilitate progress in TCM medical care, scientific research, education, and culture. Notably, the Chinese government has set TCM as a strategic priority to support the development of the medical industry. ![]() The outbreak of the coronavirus has shown the important role of traditional Chinese medicine among today’s consumers. Traditional Chinese medicine flourished due to COVID-19 outbreak Some domestic and foreign cosmetic brands use it to promote their products. Surprisingly, not only pharmaceutical companies use traditional Chinese medicine in marketing. It also displays more rapid growth than other segments of the pharmaceutical market in China. The traditional Chinese medicine market comprises about 30-40% of drug sales in China.
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