Global Botanical and Plant Derived Drugs Market Insights
The global Botanical and Plant Derived Drugs market is estimated to witness a high CAGR during the forecast period (2019-2026). Botanical drugs are derived from medicinal plants. The increasing side-effects by usage of synthetic drugs such as allergic reactions, gastrointestinal upsets, and drug recalls are driving the market for botanical and plant based derived drugs. The cost of specialty drugs is high compared to botanical and plant derived drugs. Increasing incidence of chronic diseases along with technological advances in processes for the manufacture of botanical drugs are driving the market growth of plant derived drugs. Plant derived drugs are used as an important component of traditional medicine and therapies, such as homeopathy and ayurvedic medicines. These are some of the major factors expected to drive the market growth during the forecast period.
On the basis of source, the global botanical and plant derived drugs market is segmented into plant, algae, and microscopic fungi. The plant source segment is expected to hold the largest market share during the forecast period. Growing demand for natural and herbal based drugs is the major factor driving the market for botanical and plant derived drugs. Plant derived drugs are used in homeopathy and ayurvedic medicines. Algae segment is expected to grow at a significant CAGR during the forecast period. Algae are eukaryotic organisms that have no roots, stems, or leaves but they have chlorophyll and other pigments for carrying out photosynthesis.
By Therapeutic Applications
On the basis of therapeutic applications, the market is segmented into central nervous systems, cardiovascular diseases, infectious diseases, and respiratory diseases among others. Infectious diseases segment is expected to hold the significant market share during the forecast period. Botanical products are intended for use in the mitigation, cure, diagnosis and treatment or prevention of diseases in humans. Infectious diseases are disorders caused by organisms include bacteria, viruses, and fungi or parasites among others. The use of plant-derived medicine with other synthetic particles, such as nanoparticles, for targeted therapy is examined for its effective clinical applications in the coming years.
North America is dominating the regional market for botanical and plant derived drugs. The market growth in the region is mainly attributed to high adoption of herbal drugs, along with technological advances in production of plant derived drugs. Asia Pacific region is expected to hold the significant market share during the forecast period. Consumers in APAC region are increasingly switching to traditional forms of medicine due to their overall benefits in the long run. Increased focus of research institutes and clinical trial studies are some of major driving factors for the growth of this market in the region.
End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are Graham packaging, Bemis packaging, Nestle and Samsung among others.
The report contains a chapter dedicated to vendors operating in the Botanical and Plant Derived Drugs market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Botanical and Plant Derived Drugs Market Share & Competitor Analysis
Some of the key players operating in the botanical and plant derived drugs market are Abbott Laboratories, Eli Lilly, Medigene, Pfizer, Lupin Ltd., Johnson & Johnson, Ranbaxy Laboratories Ltd., Novartis International AG, Glaxosmithkline and Leo Pharma among others.