Global Botanical and plant-derived drugs market is valued approximately at USD 31.2 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 6.10% over the forecast period. Botanical drugs are derived from medicinal plants. Botanical drugs contain algae vegetable substance, and macroscopic fungi. Botanical and plant derived drugs help in treatment of various diseases, such as central nervous system disorders, infectious diseases cardiovascular diseases, and respiratory diseases. These drugs are used as an important component in medicine and therapies such as homeopathy and ayurvedic medicines. Increasing risk of side effects with the consumption of synthetic drugs such as gastrointestinal upsets, allergic reactions and more, these factors are increasing the demand for botanical and plant derived drugs. In addition, increasing incidences of chronic diseases are further contributing towards market growth. Increasing adoption of botanical and plant derived drugs in the treatment of respiratory and infectious disease is expected to create significant growth opportunity in the market over the forecast period. For instance, convallaria majalis plant extract is used in for the treatment of cardiovascular disease. Mytesi is a botanical drug approved for the symptom’s relief on noninfectious diarrhea in adults with HIV/AIDS. Also, introduction of medicines made from plants for the treatment of cardiac such as acetyldigoxin, adoniside are also rising adoption of botanical and plant derived drugs. However, stringent laws and regulations for approval of botanical drugs impedes the growth of the market over the forecast period.
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The regional analysis of global Botanical and plant-derived drugs market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the high adoption of herbal drugs and technological advances. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period . Factors such as increasing awareness towards botanical and plant derived drugs and increasing prevalence of chronic diseases would create lucrative growth prospects for the Botanical and plant-derived drugs market across Asia-Pacific region.
Major market player included in this report are:
Bayer Healthcare LLC
Pfizer Inc, Sanofi
Actelion Pharmaceuticals Ltd
Aimil Pharmaceuticals India Ltd
Boehringer Ingelheim GmbH
Bristol-Myers Squibb Company
Concordia Pharmaceuticals Inc.
GW Pharmaceuticals plc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
Botanical And Plant Derived Drugs Market Size: Industry Insights , Major Key Players and Current Trends Analysis 2022-2031
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