Botanical and Plant-Derived Drugs Market to grow by USD 20.93 Billion (2024-2028), driven by government initiatives, with AI powering market evolution - Technavio

NEW YORK, Dec. 3, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global botanical and plant-derived drugs market size is estimated to grow by USD 20.93 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  8.18%  during the forecast period. Rising government initiatives to promote use of plant-derived drugs is driving market growth, with a trend towards transformation of regulatory landscape in US. However, low acceptance of botanical and plant-derived drugs among physicians  poses a challenge. Key market players include 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..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

The botanical and plant-derived drugs market has gained significant attention due to the potential for new market opportunities. In 2004, the US FDA established a pathway for botanical drug approval, receiving 400 IND applications and approving one drug. The FDA now requires prior information on product description, human experience, botanical raw materials, and harvest locations. Regulatory bodies like the EMA and WHO provide guidelines, enabling the development of new botanical drugs. Companies such as Merck KGaA and Hetero Labs Ltd. Offer effective and trustworthy botanical drugs, contributing to market growth. 

The Botanical and Plant-Derived Drugs market is experiencing significant growth due to the increasing demand for natural health solutions. Key trends in this sector include the use of chronic diseases such as diabetes, cancer, and Alzheimer's disease as target indications. The global market for these drugs is driven by the discovery and development of new active ingredients from plants and botanicals. Some notable botanicals and their derived drugs include Turmeric for anti-inflammatory properties, Artemisinin from Artemisia annua for malaria treatment, and Quinine from the Cinchona tree for malaria and cardiac disorders. The market is also witnessing an uptick in the use of synthetic derivatives of natural compounds to enhance their therapeutic efficacy. The future of this market lies in the exploration of new botanicals and the development of innovative drug delivery systems. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

•  The botanical and plant-derived drugs market faces challenges due to efficacy concerns and safety issues raised by end-users and physicians. An article in The Lancet-Diabetes and Endocrinology highlighted concerns over Ayurvedic drugs, which contain phytochemicals that can have harmful aftereffects and may contain toxic metals exceeding acceptable daily intake. The lack of regulatory oversight for unregulated botanical and plant-derived drugs further adds to the safety concerns. These issues may hinder market growth during the forecast period.

•  The Botanical and Plant-Derived Drugs market faces several challenges. Drugs derived from plants and botanicals, such as Herbal derivatives and Fungi, play a significant role in healthcare. However, ensuring their quality and consistency can be difficult due to the natural variability of sources. Regarding regulation, there are differences in how various countries classify and regulate these drugs. Additionally, there are challenges in scaling up production and ensuring sustainability of natural sources. Furthermore, the efficacy and safety of these drugs need to be thoroughly studied and proven to gain widespread acceptance. Lastly, the cost of research and development, as well as the competition from synthetic drugs, can be significant barriers to entry in this market.

Discover how AI is revolutionizing market trends- Get your access now!

This botanical and plant-derived drugs market report extensively covers market segmentation by 

1. Type 
• 1.1 Oral
• 1.2 Injectables
• 1.3 Topicals
2. Application 
• 2.1 Infectious diseases
• 2.2 Central nervous system
• 2.3 Cardiovascular diseases
• 2.4 Respiratory diseases
• 2.5 Digestive diseases and others
3. Geography 
• 3.1 Asia
• 3.2 Europe
• 3.3 North America
• 3.4 Rest of World (ROW)

1.1 Oral-  The oral segment of the botanical and plant-derived drugs market includes tablets, capsules, oral solutions, and liquid concentrates. Oral solutions, such as tinctures and syrups, offer accurate dosage control, easy administration, and fast absorption. Companies like Pierre Fabre SA and Bayer AG provide botanical drugs in this form, including Permixon and Iberogast. Capsules and tablets provide standardized dosage, consistent efficacy and safety, ease of use, and improved patient compliance. Major vendors like Bayer AG, Jazz Pharmaceuticals Plc, Pierre Fabre SA, and Jaguar Health Inc. Offer these forms, including Jaguar Health Inc.'s FDA-approved Mytesi. The benefits and research opportunities under the oral segment will fuel the growth of the global botanical and plant-derived drugs market.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

The Botanical and Plant-Derived Drugs Market encompasses a wide range of therapeutic medicines derived from natural substances, including Humans' use of Medicinal plants, Archaea, Bacteria, Fungi, Algae, and Microscopic fungi for centuries. These botanical drugs, also known as herbal medicines or plant-derived drugs, have gained significant attention in the global market due to their potential efficiency and performance in addressing various Diseases, such as Cardiovascular diseases, Respiratory diseases, and Infectious diseases. FDA-approved botanical drugs have become increasingly popular as alternatives to synthetic medicines, particularly for managing Lifestyle diseases. Terpenes and Steroids are essential natural products found in vegetable material that contribute to the therapeutic properties of these drugs.

The Botanical and Plant-Derived Drugs Market encompasses a wide range of therapeutic agents extracted from plants and botanical sources. These drugs have gained significant attention due to their potential medicinal values and minimal side effects. The market is driven by the increasing demand for natural and herbal remedies, advancements in extraction technologies, and growing research and development activities. Major botanical drugs include Artemisinin from Artemisia annua, Taxol from Taxus brevifolia, and Vincristine from Catharanthus roseus. The market also includes plant-derived drugs like Digoxin from Digitalis lanata and Morphine from Papaver somniferum. The market is segmented based on drug type, application, and region. The future outlook of the Botanical and Plant-Derived Drugs Market is promising, with increasing investments in research and development and growing awareness of the benefits of natural medicines.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Oral
• Injectables
• Topicals
• Application
• Infectious Diseases
• Central Nervous System
• Cardiovascular Diseases
• Respiratory Diseases
• Digestive Diseases And Others
• Geography
• Asia
• Europe
• North America
• Rest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED