Impact Analysis of Covid-19
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Global Botanical and Plant-Derived Drugs Market, by Source (Plant, Algae, Macroscopic Fungi, and Others), by Dosage Form (Pills, Tablets, Capsules, and Injection), by Therapeutic Application (Central Nervous System, Cardiovascular Diseases, Infectious Diseases, and Respiratory Diseases), and by Region (North America, Europe, Latin America, Middle East, Asia Pacific, and Africa) was valued at US$ 30.1 billion in 2017 and is estimated to exhibit a CAGR of 6.3% over the forecast period (2018-2026).
The increasing risks of side-effects, owing to consumption of synthetic drugs such as allergic reaction and gastrointestinal upsets, drug recalls, and high cost of specialty drugs are the factors that are expected to propel demand for botanical and plant derived drugs. This is further expected to drive the market growth over the forecast period. Furthermore, legalization of medicinal cannabis in various countries have driven market players to invest in research and development to develop drugs from cannabis. For instance, in 2016, GW Pharmaceutical’s Epidiolex drug contains cannabidivarin (CBDV) and it is in developmental process, which will be used in clinical trials for treatment resistant epilepsy, supported by NSW and Queensland government. Moreover, Insys Therapeutics, an U.S.-based company have Subsys drug in their product portfolio, which is indicated for the treatment of advanced pain associated with cancer. The subsys is a synthetic version of cannabidiol (CBD) and has accounted for almost 100% of the company’s 2014 year-to-date revenue.
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Furthermore, increasing number of botanical and plant derived drugs are receiving regulatory approvals with respect to cancer patients, as a cure and as a supplement to current treatments, which is further expected to offer a great opportunity for conducting clinical trials. For instance, Medlab Clinical received approval to begin human trials of two different cannabis based medicines – NanaBis and NanaBidial, in June 2017. NanaBis is packaged as a mouth spray and will be clinically tested in advanced stage for cancer patients with intractable pain. NanaBidial comprises cannabidiol derived from marijuana and is indicated for chemotherapy induced nausea and vomiting, with a secondary endpoint in patients suffering seizures.
Browse 35 Market Data Tables and 41 Figures spread through 179 Pages and in-depth TOC on “Botanical and Plant-Derived Drugs Market, by Source (Plant, Algae, Macroscopic Fungi, and Others), By Dosage Form (Pills, Tablets, Capsules, and Injection), By Therapeutic Application (Central Nervous System, Cardiovascular Diseases, Infectious Diseases, and Respiratory Diseases), and by Region (North America, Europe, Latin America, Middle East, Asia Pacific, Africa) – Global Forecast to 2026”
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Key takeaways of the Botanical and Plant Derived Drugs Market:
- The global botanical and plant derived drugs market is expected to exhibit a CAGR of 6.3% during the forecast period (2018-2026), attributed to increasing adoption of herbal drugs over the synthetic drugs, among populace.
- Among source type, plant segment is expected to account for a significant market share over the forecast period, attributed to increasing number of clinical trials for medicinal cannabis
- Among regions, Asia Pacific is expected to exhibit significant CAGR in the botanical and plant derived drugs market, attributed to entry of local players and key players in the region, who are engaged in development of herbal medicines
- Key players operating in global botanical and plant-derived drugs market include Bayer Healthcare, GlaxoSmithKline, Pfizer, Inc. Sanofi, Actelion Pharmaceuticals, Aimil Pharmaceuticals, Allergan, AstraZeneca, Boehringer Ingelheim, and GW Pharmaceuticals, among others.
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