Global Botanical & Plant Derived Drug Market is estimated to have 6.4% of CAGR during the forecast period 2016-2023. Botanical drugs are derived from medicinal plants. They are used for diagnosis, treatment and mitigation of diseases in humans. The recent trend driving the botanical and plant derived drug market is the increasing use of herbal medicines. Herbal medicines are used by 70%-80% of the world population especially in developing nations for primary health care due to few side effects, low cost and its easy avaibility. According to the World Health Organization (WHO), the use of herbal remedies across the world increased 2-3 times as compared to the use of traditional drugs in 2015. The factors contributing to the growth of global botanical & plant derived drug market are as follows:
- Increase in the number of chronic diseases
- Technological advancement in production procedure
- Cost effectiveness
- Increase in use of plant derived drugs
The key factor driving the growth of global botanical & plant derived drug market is the increasing number of chronic diseases which has led to the acceptance of herbal medicines. . According to World Health Organization (WHO), non-communicable chronic diseases (NCDs) were responsible for over 62% of the total mortality in 2016 with approximately 60 million deaths. Over 80% of deaths in developing nations (specifically China and India) are due to NCDs such as diabetes, cancer, obesity and cardiovascular diseases. Global burden of NCDs in 2016 was 50% and is expected to increase up to 57% by 2020. . Rate of NCDs are higher among adults aged 55 years and above. However, an increase of 15% in NCDs can be seen in the younger population too. WHO estimates that the number of people affected with diabetes will reach up to 235 million by 2020 as compared to 186 million in 2015. In next five years, prevalence of obesity in Africa, Latin America and Asia Pacific is expected to increase by 3%. Diabetes, cancer and cardiovascular diseases are the prime causes of deaths in India and China. The number of people suffering with cancer in Asia Pacific is expected to reach over 15 million by 2019. In Asia Pacific lung cancer, prostate cancer, and breast cancer are among the most common forms of cancer. In 2015, the total burden of heart disease and stroke in US accounted for over $320 billion. According to National Cancer Institute, the number of people suffering from cancer is expected to increase up to 19 million by 2024, from 15 million in 2015. Breast cancer, lung and bronchus cancer are amongst the most common forms of cancer in North America. NCDs accounted for 86% of the deaths in Europe in 2015. However, factors like stringent government laws & regulations, low acceptance rate for lethal diseases, lack of awareness about botanical drugs, and availability of substitutes are restraining the growth of global botanical & plant derived drug market for the forecast period. However the enhanced application and increasing approval by FDA is creating future opportunities for the market. Over the years, treatment of cancer with plants like Withania somnifera, Tinospora codifolia, and Asparagus racemases has increased. They are developed as a supportive treatment with chemotherapy. Drugs from other plants like Huang Qi, Podophyllum platinum, Saguinaria canadenesis, and Ruscus aculeatus are still in its development stage for cancer treatment. Herbs like Cynara scolymus, Allium Sativum, and Ginkgo bilboa have found to be useful in treatment of coronary heart diseases which is creating an opportunity for global botanical & plant derived drug market. Major challenges faced by this market are lack of awareness about botanical drugs and availability of alternatives.
Source: OBRC Analysis.
The global botanical and plant derived drugs market is segmented into drug type and application.
Drug type is further segmented into:
- Steroids
- Phenols
- Terpenes
- Glycosides
Application is further segmented into:
- Hormonal diseases
- Respiratory and oncology diseases
- Infectious diseases
- Cardiovascular and metabolic diseases
- Pain & CNS disorder
The revenue for the above application segments is specific to the botanical and plant derived drug market. However, the total revenue of these applications in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up drug type segment.
Geographically, the global botanical and plant derived drug market is segmented into:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America had the largest market share in2016, due to the increasing awareness of botanical drugs and plant derived drugs, sound regulatory environment and rising prevalence of diseases. Asia Pacific is expected to have the highest growth rate for the forecast period due to increasing healthcare expenditure and increasing prevalence of chronic diseases. India, China, and Japan are the leading markets for the forecast period.
Global botanical and plant derived drug market is segmented into drug type and applications. By drug type the market is further bifurcated into steroids, phenols, terpenes, and glycosides. Phenols dominates drug type segment in terms of revenue in 2016. One the basis of application, the market is further classified into hormone disease, infectious disease, pain & CNS disorder, cardiovascular & metabolic disease and respiratory & oncology disease. Cardiovascular & metabolic disease is the largest application of botanical & plant derived drug market in 2016.
The major market players of the global botanical & plant derived drug market are:
- ABBOTT LABORATORIES
- BAYER HEALTHCARE LTD
- BIONOVA INC
- BRISTOL MEYERS LTD.,
- ELI LILLY LTD.,
- OTHERS
Detailed analysis of these companies provided in this report comprises of overview, scot analysis, product portfolio, strategic initiative and strategic analysis.
These companies use various strategies such as mergers & acquisitions, collaboration, partnership and product launching. Example: In April 2016, Abbott laboratories acquired St. Jude Medical. This created a huge opportunity for Abbott to become a premier medical device leader along with high-growing cardiovascular markets which included structural heart, atrial fibrillation and heart failure. It strengthened Abbott’s long term growth. This acquisition helped to improve Abbott’s capabilities and overall global scale by diversifying its portfolio and revenue sources. Thus acquisition improved it strategic and competitive positions as it provided well-managed diversity to deliver reliable, sustainable growth.
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market player such as acquisition as in April 2016 Abbott laboratories acquired St. Jude Medical.
- Provide in detail the different segments such as drug type and application which affect the global botanical and plant derived drug market.
- Provide you the patent analysis of global botanical and plant derived drug market.
- Identify and understand the strengths, opportunities, challenges and threat of global botanical & plant derived DRUG MARKET.
- Provide revenues of major players of the market such as Abbott Laboratories Ltd., Bayer Healthcare Ltd., Bionova Inc., Bristol Meyers Ltd., Eli Lilly Ltd., and GSK Ltd.
- Provide you the various regulatory policies which affect the global botanical and plant derived drug market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global botanical and plant derived drug market offers the longest chain of market segmentation covering major segmentation based on type of drugs and applications.The report tracks the major market trends in the globalbotanical and plant derived DRUG MARKET such as rising demand of herbal medicines in health care sector and technological advancement in drug production. For each market segments covered in globalbotanical and plant derived DRUG MARKET report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the plant derived drug market, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global botanical and plant derived drug market.
- North America had the largest revenue share in 2016.
- Phenols dominates drug type segment in terms of revenue in 2016
- Acquisition is the key strategy adopted by the various market players of global botanical and plant derived drug market.
- Cardiovascular & metabolic disease is the largest application of botanical & plant derived drug market.