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Botanical and Plant Derived Drugs Market - Witness substantial gains 2019
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The global market for botanical and plant derived drugs is witnessing a significant growth over recent years due to rising usage of these drugs in different parts of the world. Increased focus of research institutes and clinical trial studies, price reduction and improved technological and sociological development are major driving factors for the growth of this market. However, low acceptance of these drugs for the treatment of lethal diseases is a major restraint for the market. On the other hand, rising number of FDA approved botanical drugs and their application is a key opportunity for the market. Some of the major classes of botanical and plant derived drugs are Tarpenes and Steroids, Glycosides, Ergot Alkaloids, Morphine Alkaloids and Vinca Alkaloids.
Global market of botanical and plant derived drugs market is primarily divided into two segments: based on geography and based on therapeutic applications. The U.K., Germany and France are major countries of the European Region. On the basis of therapeutic application, the market is segmented into hormone related disease therapy, infectious diseases, pain and central nervous system disorders, cardiovascular and metabolic diseases, respiratory and oncology diseases treatment. Some of the major players operating in the market are Abott Laboratories, Bayer Healthcare, Bionova, Bristol Myers and Curapharm.
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