Market Research Report
EUROPE BOTANICAL & PLANT DERIVATIVE DRUG MARKET FORECAST 2018-2026
|Published by||Inkwood Research||Product code||568464|
|Published||Content info||90 Pages
Delivery time: 1-2 business days
|EUROPE BOTANICAL & PLANT DERIVATIVE DRUG MARKET FORECAST 2018-2026|
|Published: February 12, 2018||Content info: 90 Pages||
The Europe botanical and plant derivative drug market is predicted to be worth $10 billion by the end of 2026. The market is expected to grow at a CAGR of 7.96% over the forecast period of 2018-2026.
Increasing demand for traditional medicines, their growing applications in diseases and the increasing number of approvals from the FDA are chiefly responsible for driving the market growth. The rising prevalence of asthma is likely to augment the demand for botanical drugs in the European market. The market is segmented on the basis of products, therapeutic applications, and types. The various types of botanical and plant derivative drugs include glycosides, steroids, terpenes, and phenols. In order to develop botanical drugs in Europe, the manufacturer has to file an Investigational New Drug application (IND), and the drug has to undergo a number of clinical trials before it is approved to be sold in the market.
Companies like Cura Pharm, Analyticon Discovery Gmbh, Abbott Laboratories, Novartis International Ag, Lupin Ltd, Glenmark Pharmaceuticals Ltd, Boehringer Ingelheim, Bayer Healthcare Llc, Bionova, Ranbaxy Laboratories Ltd, Bristol-Myers Squibb, GlaxoSmithKline, Tasly Pharmaceuticals Inc, and Piramal Phytocare Ltd have established their presence in this market.