Key Opportunity for Botanical and Plant Derived Drugs Market includes rising number of FDA approved botanical drugs and their application

A new market research report by Transparency Market Research, titled “Botanical and Plant Derived Drugs Market - Global Industry Analysis, Size, Share, Growth, Trend and Forecast 2013 – 2019”, comprises a detailed evaluation of the market. The study presents an examination of the market structure, market drivers, trends, opportunities, and competition within the market in the forecast horizon from 2013 to 2019. It also discusses the size and segmentation of the market throwing light on the top segments and their state by the end of the forecast horizon. The influence of Porter’s five forces on the development of the market also forms a key part of this study.

Botanical drugs are the drugs derived via medicinal plants and are a combination of botanical and other approved drugs that comprise semi-synthetic substances and plant materials. Botanical drugs comprise algae, vegetable materials, and macroscopic fungi. These drugs are utilized for the diagnosis, treatment, cure, and mitigation of numerous diseases such as cardiovascular diseases, central nervous system disorders, respiratory diseases, and infectious diseases. Botanical drugs are an important component of conventional therapies and medicines such as Ayurveda and homeopathy.

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As per the report, the rising utilization of botanical drugs in place of synthetic medicine and the increasing occurrence of numerous chronic diseases globally are amongst the prime factors fuelling the growth of the market. Additionally, the decreasing cost of botanical drugs coupled with the technological advancements in their manufacture practices is also a prime factor augmenting the development of the market for botanical and plant derived drugs. On the other hand, according to the report, the strict regulations and laws governing the approval of drugs in a number of nations may inhibit the growth of the market in the coming years. In addition, the low adoption rate of these drugs for the treatment of life threatening diseases will also pose a negative impact on the growth of the market.

In terms of therapeutic application, the report segments the market into infectious diseases, hormone-related disease therapy, pain and central nervous system disorders, respiratory and oncology diseases treatment, and cardiovascular and metabolic diseases.

Geographically, the report segments the market into Asia Pacific, North America, Europe, and Rest of the World (RoW). In Europe, Germany, the UK, and France are the countries dominant in the market for botanical and plant derived drugs. As stated in the report, the major players in the market are Bayer Healthcare, Abbott Laboratories, Bionova, Curapharm, and Bristol Myers, among others.

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