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Botanical and Plant Derived Drugs Market : Market Sizing with Competitive Landscape by 2020
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North America and Europe dominates the botanical and plant derived drugs market, due to rising awareness towards botanical and plant derived drugs and increasing prevalence of diseases. Moreover, technological advancement in production procedure of botanical is also supporting the growth of botanical and plant derived drugs in these regions. China and India are expected to show high growth rate due to increasing population, rising awareness towards botanical and plant derived drugs and increasing prevalence of chronic diseases.
Globally, increased usage of botanical drugs as an alternative to synthetic medicine and increasing prevalence of various chronic diseases are some of the major drivers for growth of botanical and plant derived drugs. In addition, low cost of botanical drugs and technological advancement in production procedure of botanical drugs are also supporting in growth of botanical and plant derived drugs market. However, stringent laws and regulations for approval of botanical drugs is a key restraint for botanical and plant derived drugs market.
Moreover, increasing number of mergers and acquisitions by manufacturing companies is a key trend for botanical and plant derived drugs market.
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Some of the major players operating in botanical and plant derived drugs market are Abbott Laboratories, Eli Lilly, Medigene, Pfizer, Lupin Ltd., Johnson & Johnson, Ranbaxy Laboratories Ltd., Novartis International AG, Glaxosmithkline and Leo Pharma.
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