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The global botanical and plant-derived drugs market size is estimated to grow by USD 20.93 billion, at a CAGR of 8.18% between 2023 and 2028. It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
Government initiatives worldwide are driving the development of plant-based drugs, with global healthcare systems increasingly embracing herbal medicines. In countries like China, India, Nigeria, and the US, as well as organizations like WHO, significant R&D investments are being made. Governments incentivize industry players to invest in plant-based drug R&D through contracts and grants. For instance, PlantForm, under a Government of Canada contract, is developing a plant-based antibody for ricin exposure. Similarly, the College of Pharmacy in Chicago is researching botanical dietary supplements' safety and efficacy for women's health with NIH grants. Hence such factors will have a positive impact on the market during the forecast period.
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The market share by the oral segment will be significant during the forecast period. The oral segment of the market includes tablets, capsules, oral solutions, and liquid concentrates. Oral solutions are one of the most versatile, easy-to-administer, and fast-absorbing drug types in the market. They are used by consumers and healthcare providers alike and are available in a variety of forms, from tinctures to syrups to extracts to liquid concentrates.
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The oral segment was valued at USD 13.88 billion in 2018. Additionally, Bayer AG offers Iberogast oral liquid for abdominal pain and cramps, chronic constipation, nausea, and vomiting. Likewise, the benefits of capsules and tablets in botanical drug delivery include standardized and controlled dosage. Consistent efficacy and safety. Easy-to-use and convenient dosage forms. Improved patient compliance. No need to measure or prepare complex formulations. Major market players like Bayer AG, Jazz Pharmaceuticals Plc, Pierre Fabre SA, and Jaguar Health Inc. are offering botanical drugs in the form of capsules and tablets in the market. Thus, such factors under the oral segment will drive the evolution of the market during the forecast period.
The infectious diseases segment is the largest segment as per type in the market during the forecast period. The increasing prevalence of infectious diseases like hepatitis, influenza, and human immunodeficiency virus (HIV) will increase demand for this segment. Infectious diseases or communicable diseases spread from person to person through indirect or direct contact and are caused by pathogens such as bacteria, viruses, fungi, and parasites. For treatment, patients must consume drugs that are anti-infective in nature. Hence, such factors will propel the market growth of this segment during the forecast period.
The central nervous system segment is expected to grow significantly in the market during the forecast period. The central nervous system consists of the brain and spinal cord and helps in the proper functioning of all body parts. However, autoimmune and inflammatory diseases, neurodegenerative diseases, cancers, genetic disorders, etc., affect the structure and function of the brain or spinal cord. Plant-derived drugs are considered the best means of treatment for such illnesses, which will drive further segment growth during the forecast period
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Asia is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The APAC region is the largest regional market due to the availability of a wide range of plant species with India having around 45,000 plant species. A few of them have medicinal properties such as antihistaminic, antiasthmatic, and antiallergic activities.
Furthermore, in China, the government, consumers, and healthcare professionals consider traditional Chinese medicine to be at par with Western medical science. Additionally, in India, various factors such as greater awareness of herbal drugs and medicinal plants and increased research expenditure are driving the market growth of the plant-based drugs market. Hence market players are launching new, more affordable products. Therefore, such factors will propel the market growth during the forecast period
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Bausch Health Companies Inc.: The company offers botanical and plant derived drugs, such as Targretin gel used to treat skin problems arising from a disease called cutaneous T-cell lymphoma.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
Growing demand for effective treatment of chronic disorders is the key factor driving the market. Globally, chronic diseases such as cardiovascular disease, diabetes, and cancer are on the rise. These diseases often require chronic and long-term treatment, making intravenous therapy an essential part of patient care. Chronic diseases are increasing due to factors such as sedentary lifestyle, poor diet, and aging populations. There is a growing demand for effective and reliable plant-derived drug delivery methods, drugs, nutrients, and fluids directly to the bloodstream.
Additionally, the growing demand for the effective treatment of chronic disorders such as epilepsy will drive global botanical and plant-derived drug market growth during the forecast period. Further, as there are high unmet needs in the market, the vendors are increasingly focusing on providing plant-based drugs as an alternative to conventional drugs. Thus, such factors will drive the growth of the market during the forecast period.
The transformation of the regulatory landscape in the US is a key trend in the market. Align with market trends and analysis, the increasing development of botanical drugs is resulting in market expansion. For example, the US FDA created a pathway for market players to get their botanical drugs approved in 2004 and received 400 IND applications. One was approved in 2012, while the second, Fulyzaq by Salix Pharmaceuticals, was approved for diarrhea treatment in HIV/AIDS patients who are undergoing antiretroviral therapy.
Moreover, this side effect of antiretroviral therapy has resulted in many discontinuing it, and there is also no alternative US FDA-approved treatment for it. In August 2015, the US FDA revised its 2004 guidance for botanical drug development, giving emphasis to the European Medicines Agency Good Agriculture and Collection Practices (EMA GACPs) and the WHO GACPs for medicinal plants. Hence a dynamic regulatory and compliance landscape is expected to propel market development during the forecast period.
The low acceptance among physicians is challenging market expansion. Despite further advances in the development of plant-derived drugs, end users, especially physicians, are resisting the use of such drugs due to efficacy concerns. They raise safety concerns regarding some plant-derived drugs. For example, in April 2016, an article published in the Lancet - Diabetes and Endocrinology created a controversy related to alternative medicine therapy for diabetes treatment.
Additionally, it questioned the safety of Ayurvedic drugs due to concerns such as increasing metal toxicity in such drugs. Nearly one-fifth of Ayurvedic drugs manufactured in India and the US exceed the daily intake of mercury, lead, or arsenic compounds, according to one of the studies it cites. Moreover, such drugs are not regulated and are easy to obtain, resulting in several physicians warning against the usage of herbal medicines for diabetes treatment. Hence, such factors will impede market development during the forecast period.
The market growth analysis report includes the adoption lifecycle of the market growth and forecasting, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market analysis and report also include key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market report forecasts market research and growth by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends opportunities from 2018 to 2028.
In the market, botanical and plant-derived drugs offer a diverse array of therapeutic options sourced from nature, including algae, microscopic fungi, and vegetable material. These substances hold promise in treating various ailments, from central nervous system disorders to chronic pain. Compounds like terpenes and steroids are found in plants and are key ingredients in many medications, including those derived from glycosides, morphine alkaloids, and ergot alkaloids. Market trends indicate a rise in demand for specialty drugs and a focus on pharmacologic methods for conditions such as lung cancer.
Regulatory bodies like the World Health Organization (WHO) and the Australian Government oversee the approval of botanical drugs and enforce laws and regulations regarding manufacturing and distribution. Despite occasional drug recalls, ongoing research and development ensure a steady stream of new products to meet market needs, including innovations like medicinal cannabis amidst debates over marijuana legalization. One notable example is Mytesi, an antidiarrheal derived from botanical sources, which highlights the potential of plant-based remedies in modern medicine.
Botanical and Plant-Derived Drugs Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.18% |
Market Growth 2024-2028 |
USD 20.93 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.68 |
Regional analysis |
Asia, Europe, North America, and Rest of World (ROW) |
Performing market contribution |
Asia at 44% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bausch Health Companies Inc., Bayer AG, Boehringer Ingelheim International GmbH, Devonian Health Group Inc., Dr. Willmar Schwabe GmbH and Co. KG, F. Hoffmann La Roche Ltd., Hetero Labs Ltd., Jaguar Health Inc., Jazz Pharmaceuticals Plc, Medigene AG, Merck KGaA, Novartis AG, Pfizer Inc., Pierre Fabre SA, Protalix Biotherapeutics Inc., Riaan Wellness Pvt. Ltd., Wilson Drugs and Pharmaceuticals Pvt. Ltd., Zea Biosciences Corp, Sanofi SA, Sun Pharmaceutical Industries Ltd., and Vertex Pharmaceuticals Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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