The global botanical drug market is anticipated to grow at a considerable CAGR of 7.2% during the forecast period (2022-2028). Product innovations coupled up with leading advancements in the botanical drug are anticipated to drive the market in the coming years. For instance, in January 2022, Synergy Flavors, Inc., has extended its R&D laboratories and other collaborative spaces at its Wauconda, Illinois headquarters. This expansion of the company is considered as a part of an organic growth plan to keep up with the high-growing and collaboration needs of both staff and customers.
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In August 2020, Sun pharmaceuticals launched Flugard tablets at a very economical price of $0.46 for the treatment of mild to moderate cases of COVID-19 in India, along with this the company had also initiated a phase II clinical trial on AQCH, a phytopharmaceutical (plant-derived) drug for the treatment of COVID-19.
The rise in diseases across the globe is considered as a major driver for the growth in the botanical drug market. Botanical medications are made from plants that have therapeutic properties. Algae and vegetable components, along with microscopic fungus, are found in botanical medications that support in providing the finest treatment. Botanical and plant-derived medications are used to treat a variety of conditions, including CNS disorders, infectious diseases, cardiovascular diseases, and respiratory diseases. Additionally, botanical and plant-derived medications come in a variety of formats, including pills, tablets, and injections. Plant-derived medications include atropine, aescin, and berberine.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Source
o By Dosage form
o By Therapeutic application
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Blue sky Botanics LTD., Ransom Naturals LTD., Prinova Group LLC., PT Indesso Aroma, Synergy Flavours, Inc. and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Botanical Drug Market Report Segment
By Source
- Plants
- Algae
- Macroscopic fungi
By Dosage form
- Tablets
- Injection
- Pills
By Therapeutic application
- Central Nervous System
- Cardiovascular Diseases
- Respiratory Diseases
- Others
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Botanical Drug Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Abbott
- Bayer AG
- Boehringer Ingelheim International GmbH.
- Bristol-Mayers Squibb Co.
- Cardax, Inc.
- Hutchmed
- Chong Kun Dang pharmaceutical Corp.
- Eli Lilly and Co.
- Galapagos NV
- GlaxoSmithKline plc
- Glenmark
- HeteroGeneity, LLC
- Indena S.p.A.
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