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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. 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 encompasses a wide array of global botanical drugs derived from natural products and natural substances. Known for their efficiency and performance, these medications target various lifestyle diseases, offering alternatives to traditional pharmaceuticals. Many are FDA-approved drugs, recognized for their therapeutic benefits in treating ailments such as respiratory disease and central nervous system disorders. Derived from sources like herbals, archaea, algae, microscopic fungi, and vegetable material, these drugs often contain compounds like tarpenes and steroids known for their medicinal properties. This market caters to the growing demand for holistic and natural treatment options among humans worldwide.
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.
Moreover, 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.
The market is driven by increasing demand for natural products among humans, owing to their perceived efficiency and performance in treating various ailments. FDA-approved drugs derived from botanical sources offer promising therapeutic options for addressing lifestyle diseases and conditions like respiratory disease and central nervous system disorders. Tarpenes and Steroids found in botanicals contribute to their pharmacological properties. However, challenges such as standardization, quality control, and regulatory compliance remain pertinent, requiring stringent measures to ensure safety and efficacy in botanical drug development. There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 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 market growth. Further, as there are high unmet needs in the market, companies 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 growth and trends during the forecast period.
The market research report includes the adoption lifecycle of the market research and growth, 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 market growth and forecasting strategies.
Customer Landscape
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
Botanical Extracts Market: Botanical Extracts Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, France, China, Canada, Germany - Size and Forecast
Herbal Medicine Market: Herbal Medicine Market Analysis Asia, North America, Europe, Rest of World (ROW) - US, China, Japan, India, Germany, UK - Size and Forecast
Botanicals Market: Botanicals Market by Source and Geography - Forecast and Analysis
The market offers a diverse range of therapeutic options derived from nonmedicinal plant substances, microbial fermentation products, and even marine life. These medications, known for their cancer therapeutic potential and medicinal approaches, have gained traction due to increasing public awareness and the approval of botanical drugs. With a focus on treating conditions like breast disease, chronic pain, and acute respiratory syndrome, they provide alternatives to synthetic drugs, potentially minimizing allergic reactions and gastrointestinal upsets. As the market expands, it attracts capital investment and technical experts, promising advancements in pharmacologic methods and improved life expectancy for patients, especially in the younger age group. Leading companies like Aimil Pharmaceuticals are driving innovation in this sector.
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Market Scope |
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Report Coverage |
Details |
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Page number |
177 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.18% |
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Market Growth 2024-2028 |
USD 20.93 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.68 |
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Regional analysis |
Asia, Europe, North America, and Rest of World (ROW) |
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Performing market contribution |
Asia at 44% |
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Key countries |
US, Germany, UK, China, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market growth analysis, Market Forecasting, 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 market forecast period. |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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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