Global Botanical And Plant Derived Drugs Market Key Players, Competitive Strategies, Regional Analysis Forecast 2028
Plants have been used as a source of medicine since past, owing to side effects caused due to consumption of synthetic drugs. Botanical and plant derived drugs are favored over synthetic drugs. Botanical and plant derived drugs contain active ingredients derived from various plants. Botanical drugs are clinically accounted for safety as well as efficacy as conventional drugs. Rising number of mergers and acquisitions by manufacturing companies is another factor expected to fuel growth of the botanical and plant derived drugs market in the region over the forecast period.
Growing consumption of botanical and plant derived drugs as an alternative to synthetic drugs coupled with increasing prevalence of various chronic diseases are major factors expected to drive growth of the global botanical and plant derived drugs market over the forecast period. In addition, technological advancements in manufacturing of botanical drugs is also supporting in growth of botanical and plant derived drugs market.
However, low acceptance of botanical and plant derived drugs for the treatment of lethal diseases is a major factor expected to restrain growth of the global botanical and plant derived drugs market in the near future.
The global botanical and plant derived drugs market has been segmented on the basis of source, dosage form, therapeutic application, and region. On the basis of source, the target market is segmented into plant, algae, and macroscopic fungi. On the basis of dosage form global botanical and plant derived drugs market is segmented into pills, tablets, capsules, and injection. On the basis of therapeutic application global botanical and plant derived drugs market is segmented into central nervous system, cardiovascular diseases, infectious diseases, and respiratory diseases.
Top of FormBased upon region global botanical and plant derived drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The market in North America accounts for highest share in terms of revenue, owing to increasing consumption of herbal drugs coupled with modern production facilities to obtain plant extracts and process them into drugs in the region. The market in Asia Pacific is expected to register significant growth rate in terms of revenue, owing to increasing prevalence of chronic diseases in the region over the forecast period.
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Key players operating in the global Botanical and plant derived drugs market include Bayer Healthcare LLC, GlaxoSmithKline plc, Pfizer, Inc., Sanofi, Actelion Pharmaceuticals Ltd, Aimil Pharmaceuticals India Ltd, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, Concordia Pharmaceuticals Inc., and GW Pharmaceuticals plc.
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