Global Botanical And Plant-Derived Drugs Market Set To Grow To $40.5 Bn By 2022

Tuesday 20 February 2018, Amsterdam

The key player has launched a new pharma report Botanical and Plant-Derived Drugs Market Forecast to 2027: Prospects for Leading Companies in Steroids, Phenols, Terpenes, Glycosides and Others, Sativex, Marinol Nabilone, Dexanabinol, CT-3, Cannabinor, HU 308, HU 331, Rimonabant, Taranabant.

Plant derived substances have recently become of great interest owing to their versatile applications. Medicinal plants have been used for centuries as remedies for human diseases and offer a new source of biologically active chemical compound as antimicrobial agent. Medicinal plants are the richest bio-resources of drugs of traditional medicinal systems, modern medicines, nutraceuticals, food supplements, folk medicines, pharmaceuticals, intermediate and chemical entitled for synthetic drugs. It has been estimated that 14 - 28% of higher plant species are used medicinally and that 74% of pharmacologically active plant derived components were discovered after following up on ethno medicinal use of the plants. Botanical drugs are those drugs which are derived from medicinal plants. Plant derived drugs are combination of botanical as well as other approved drugs that contains plant materials, synthetic and semi synthetic substances.

The lead analyst of the report commented “There has been rising interest in botanical drugs, with many pharmaceutical companies investigating the commercial potential. The global botanical derived drugs market will experience steady growth over the forecast period.

Growth in the market is primarily driven by increasing focus on the development of drugs for new indications, increasing prevalence of various chronic diseases and public as well as private investment for botanical and plant derived drug. However, challenges in clinical trials and stringent laws and regulations for approval will deplete the market.”

Leading companies featured in the report include Abbott Laboratories, Bayer AG, Eli Lilly Johnson & Johnson, Novartis AG, Pfizer, Inc., Bristol-Myers Squibb (BMS), Medigene AG.