The global market for botanical and plant-derived drugs is expected to reach $35.4 billion in 2020
Wellesley, Mass. (PRWEB) September 02, 2015
Drug companies increasingly are adopting a business model that includes development of botanical and plant-derived compounds. BCC Research reveals in its new report that the U.S. will generate the greatest demand for botanical drugs past 2020 because this market defines the category and generates the most market demand.
BCC Research examines plant-derived drugs in its report, Botanical and Plant-Derived Drugs: Global Markets. The report forecasts a five-year compound annual growth rate (CAGR) of 6.6% from 2015-2020, leading to a global market size of $35.4 billion in the end year.
Growth in the plant-derived market as a whole—excluding botanicals—matches the growth of the overall pharmaceutical market, given the presence of generics and a still-recovering economy (particularly in terms of consumer demand and purchasing power). The entry of brands such as Sativex, Picato and Jevtana will continue to spur market growth through 2020.
Botanicals, as a subgroup of all plant-derived medications sold as prescription drugs, are expected to grow at slightly higher levels relative to the entire pharmaceutical sector at with a five-year CAGR of 6.4%.
“Although the emerging markets’ share of the market will grow considerably over time due to increased penetration of botanicals in those markets, North America will continue be the dominant market for botanical and plant-derived drugs through 2020,” says BCC research analyst Kim Lawson. “Growth per year is far higher in the emerging markets compared to others, given increasing incomes and government programs that offer greater access to prescriptions.”
Botanical and Plant-Derived Drugs: Global Markets (BIO022G) analyzes the key growth areas in plant-derived drugs, develops quantitative market projections and discusses compliance with the requirements for the botanical category of drugs. The report provides data from 2013, 2014, and trends and revenue estimates through 2020.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
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