Albany, NY -- (SBWIRE) -- 08/06/2018 -- Global Botanical and Plant Derived Drugs Market: Snapshot
The global botanical and plant derived drugs market has been gaining steadily over the recent past. The increasing risk of side-effects of synthetic drugs such as allergic reaction and gastrointestinal upsets, drug recalls, and high cost of specialty drugs are propelling the adoption of botanical and plant derived drugs.
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Furthermore, increasing incidence of chronic diseases, low cost of botanical drugs, and technological advances in processes for the manufacture of botanical drugs are driving the uptake of plant derived drugs. The emergence of large herbal drug manufacturing companies and extension of conventional drug makers into herbal therapeutic products are some other key factors fuelling the botanical and plant derived drugs market.
Botanical drugs refer to drugs that are obtained from medicinal plants that could contain algae, vegetable material, and microscopic fungi. Botanical drugs are used in the treatment of various health conditions such as cardiovascular diseases, respiratory diseases, central nervous system disorders, and infectious diseases.
Some of the categories of plant drugs are steroids, terpenes, glycosides, and phenols. Botanic drugs are available in various forms such as tablets, capsules, pills, and injections. Botanical drugs such as adoniside, berberine, aescin, and atropine are obtained from plants and are important component of traditional medicine such as homeopathy and Ayurveda.
North America and Europe are the leading regional markets for botanical and plant derived drugs. The growth of these regional markets is mainly because of high adoption of herbal drugs, technological advances, and modern production facilities to obtain plant extracts and process them into drugs. Powered by growth in China and India, Asia Pacific is anticipated to emerge as a key market for botanical and plant derived drugs. Consumers in these countries are increasingly switching to traditional forms of medicine due to their overall benefits in the long run.
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Botanical drugs are drugs develop through botanical drug and research pathway, whereas plant derived drugs are combination of botanical as well as other approved drugs that contains plant materials, synthetic and semi synthetic substances. These botanical products are intended for use in the mitigation, cure, diagnosis and treatment or prevention of diseases in humans.
The global market for botanical and plant derived drugs is witnessing a significant growth over recent years due to rising usage of these drugs in different parts of the world. Increased focus of research institutes and clinical trial studies, price reduction and improved technological and sociological development are major driving factors for the growth of this market.
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However, low acceptance of these drugs for the treatment of lethal diseases is a major restraint for the market. On the other hand, rising number of FDA approved botanical drugs and their application is a key opportunity for the market. Some of the major classes of botanical and plant derived drugs are Tarpenes and Steroids, Glycosides, Ergot Alkaloids, Morphine Alkaloids and Vinca Alkaloids.
Global market of botanical and plant derived drugs market is primarily divided into two segments: based on geography and based on therapeutic applications. The U.K., Germany and France are major countries of the European Region. On the basis of therapeutic application, the market is segmented into hormone related disease therapy, infectious diseases, pain and central nervous system disorders, cardiovascular and metabolic diseases, respiratory and oncology diseases treatment. Some of the major players operating in the market are Abott Laboratories, Bayer Healthcare, Bionova, Bristol Myers and Curapharm.
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