Botanical and Plant Derived Drugs Market to Surpass US$ 51.93 Billion by 2026
Global Botanical and Plant Derived Drugs Market, by Source (Plant, Algae, Macroscopic fungi, and Others), by Dosage Form (Pills, Tablets, Capsules, and Injection), By Therapeutic Application (Central Nervous System, Cardiovascular Diseases, Infectious Diseases, and Respiratory Diseases), By Region (North America, Europe, Latin America, Middle East, Asia Pacific, and Africa) is estimated to be valued at US$ 30.1 billion in 2017 and is projected to exhibit a CAGR of 6.3% over the forecast period (2017 - 2025).
High risk of side-effects due to consumption of synthetic drugs such as allergic reaction and gastrointestinal upsets, drug recalls, and high cost of specialty drugs are propelling demand for botanical and plant derived drugs. Furthermore, legalization of medicinal cannabis in several countries have made the manufacturers to invest in the research and development to derive drugs for cannabis. For instance, one of the drug by GW Pharmaceuticals, Epidiolex drug consists of cannabidivarin (CBDV) is in developmental process, which will be used in clinical trials for treatment resistant epilepsy, supported by NSW and Queensland government in 2016. Moreover, Insys Therapeutics, an America-based company have Subsys drug in their product portfolio, which is prescribed for the treatment of advanced pain associated with cancer. The subsys is a synthetic version of cannabidiol (CBD) and has accounted for almost 100% of the company’s 2014 year-to-date revenue.
Browse 35 Market Data Tables and 41 Figures spread through 179 Pages and in-depth TOC on "Botanical and Plant Derived Drugs Market, by Source (Plant, Algae, Macroscopic fungi, and Others), by Dosage Form (Pills, Tablets, Capsules, and Injection), by Therapeutic Application (Central Nervous System, Cardiovascular Diseases, Infectious Diseases, and Respiratory Diseases), by Region (North America, Europe, Latin America, Middle East, Asia Pacific, Africa) - Global Forecast to 2026"
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Increasing applications of botanical and plant derived drugs are receiving regulatory approvals with respect to cancer patients - as a cure and as a supplement to current treatments, which provides a great opportunity for conducting clinical trials. For instance, in June 2017, Medlab Clinical received approval to begin human trials of two different cannabis based medicines – NanaBis and NanaBidial. NanaBis is packaged as a mouth spray and will be clinically tested in advanced stage for cancer patients with intractable pain. NanaBidial comprises cannabidiol derived from marijuana and is indicated for chemotherapy induced nausea and vomiting, with a secondary endpoint in patients suffering seizures
Key takeaways of the Botanical and Plant Derived Drugs Market:
- The global botanical and plant derived drugs market is expected to expand at a CAGR of 6.3% during the forecast period (2018 – 2026), owing to increasing adoption of herbal drugs over the synthetic drugs.
- Among source type, plant segment is expected to hold a major market share over the forecast period, owing to increasing number of clinical trials for medicinal cannabis.
- Furthermore, Asia Pacific is expected to show the most lucrative CAGR in the botanical and plant derived drugs market, owing to entry of local players and key players, which are engaged in development of herbal medicines.
- Some of the major players operating in global botanical and plant derived drugs market include Bayer Healthcare, GlaxoSmithKline, Pfizer, Inc. Sanofi, Actelion Pharmaceuticals, Aimil Pharmaceuticals, Allergan, AstraZeneca, Boehringer Ingelheim, and GW Pharmaceuticals.
