Press release
Botanical and Plant Derived Drugs Market Growth Accelerated By Increasing Demand For Effective Treatment of Chronic Disorders With Competitors Like Pfizer, Bayer Healthcare, GlaxoSmithKline, Sanofi, Actelion, Aimil
Botanical and Plant Derived Drugs
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The botanical and plant derived drugs market is estimated to be valued at US$ 30.1 Bn in 2017, and is expected to witness a robust CAGR of 6.3% during the forecast period (2017 - 2026).
Market Dynamics
The global botanical and plant derived drugs market is projected to witness significant growth over the forecast period, owing to legalization of medical cannabis. Medical cannabis was legalized in the Czech Republic, in 2013, Argentina and Chile in 2015, and in 2016, marijuana legalization in America reached a tipping point, as the medical marijuana became legal in some of the states.
Hence, many manufacturers are focused on research and development on medical cannabis to launch new drugs. For instance, one of the drug by GW Pharmaceuticals, Epidiolex 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.
Detailed Segmentation:
Global Botanical and Plant Derived Drugs Market, By Source:
-Plant
-Algae
-Macroscopic fungi
-Others
Global Botanical and Plant Derived Drugs Market, By Dosage Form:
-Pills
-Tablets
-Capsules
-Injection
Global Botanical and Plant Derived Drugs Market, By Therapeutic Application :
-Central Nervous System
-Cardiovascular Diseases
-Infectious Diseases
-Respiratory Diseases
-Others
Global Botanical and Plant Derived Drugs Market, By Region:
-North America
-U.S.
-Canada
-Europe
-Asia Pacific
-Latin America
-Middle East
-Africa
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