Botanical Drug Market Size, Share, Growth, Trends, Global Industry Analysis By Type (Prescription Drug and OTC), By Application (Cardiovascular, Tumor, Respiratory System, and Others), Regional Insights and Forecast To 2033

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BOTANICAL DRUG MARKET REPORT OVERVIEW

The global botanical drug market size was USD 37.5 billion in 2024 and market is projected to touch USD 58.01 billion by 2033, at a CAGR of 5.0% during the forecast period from 2025 To 2033.

Drugs that are derived from medicinal plants are known as botanical drugs. A botanical drug is intended to diagnose, mitigate, cure, prevent, or treat diseases in humans. It consists of vegetable materials. Also, it may include plant materials, macroscopic fungi, algae, or various combinations. Further, chemical purified from plants, such as paclitaxel or artemisinin, and highly purified products of industrial fermentation such as biopharmaceuticals are not considered botanical drug products.

Growing government initiatives are expectedto drive botanical drug market. Further, significant attention to herbal medicines is predicted to increase market demand. Increasing government investments in herbal medicine is projected to drive market growth. In addition, the limitations associated with manufacturing of conventional drugs is another factor to drive market growth in the coming years. Low capital investments and need for low technical expertise are supporting the demand for botanical drug. Increasing focus on development of new drugs in the healthcare sectors is projected to drive market demand.

COVID-19 IMPACT

"Growing Respiratory Problems Among Patients To Accelerate Market Growth"

COVID-19 pandemic led people to seek alternative treatments from botanical drugs. To avoid respiratory problems, patients started consuming herbal medicines. During pandemic medicinal plants witnessed a sudden demand. These herbal medicines play a crucial role in preventing or treating respiratory symptoms. Old aged population used botanical drugs to keep themselves safe from COVID-19 propelled the market growth.

On the contrary, lack of awareness of medicinal plants restricted market growth during the pandemic. Further, highly educated popularion understood less about botanical drug treatment. In addition, presence of alternative medicines slowed down the market growth during pandemic. Lockdown restrictions impacted production units and supply chains, which affected the economy as well.

LATEST TRENDS

"Growing Government Initiatives to Boost Market Growth "

Governments globally have made substantial research investments in herbal medicines that are predicted to drive botanical drug market growth. Herbal medicines are witnessing significant demand in the healthcare sector. Botanical drugs are derivatives of medicinal plants, and they are used in treatments. Further, increasing government initiatives for the use and approval of botanical drugs are expected to drive product demand. Low capital investments and less need for technical expertise are expected to fuelmarket growth. In addition, growing government investments in herbal medicines is anticipated to boost market growth during the forecast period.

BOTANICAL DRUG MARKET SEGMENTATION

By Type

Based on type, the market is divided into prescription drug and OTC.

Prescription drug is the leading part of segmentation type.

By Application

Based on the application, the market is divided into cardiovascular, tumor, respiratory system, and others.

Cardiovascular is the leading part of application segemtation

DRIVING FACTORS

"Growing Adoption of Plant-Based Drugs in Medical Sectors to Drive Market Growth"

Increasing adoption of herbal medicine globally is expected to drive market growth. Low cost of herbal drugs compared to specialty drugs is expected to propel the growth of the market. Further, technological advancements in manufacturing equipment for botanical drugs are anticipated to increase herbal medicine demand. Growing adoption of botanical drug in dermatology is due to increasing prevalence of skin disorders. rising need for effective drugs for chronic disorder treatment such as diabetes and cancer is projected to fuel herbal medicine adoption. In addition, increasing herbal drug manufacturing companies globally is projected to fuel market growth during the forecast period.

"Increasing Need for Treatment to Develop Market Growth "

Botanical drug help in the treatment of various diseases such as infectious diseases, nervous system disorders, cardiovascular diseases, and respiratory diseases. Herbal medicine is available in multiple forms, such as tablets, pills, and injections. Further, increasing demand for treatments is projected to drive botanical drug market growth. The production process is shorter as compared to conventional drugs. In addition, raw materials used in botanical drugs are easily transported to local facilities. These factors are responsible for accelerating market growth during the forecast period.

RESTRAINING FACTORS

"Low Acceptance of Herbal Medicine Among Physicians to Restrict Market Growth"

Low acceptance of botanical products among physicians is expected to restrict market growth. Many physicians have recommended diabetic patients to consume herbal medicines, which is anticipated to hamper the development of the botanical drug market.

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BOTANICAL DRUG MARKET REGIONAL INSIGHTS

North America is expected to witness the highest botanical drug market share due to increasing prevalence of chronic diseases. Growing awareness of herbal medicine in the healthcare sector is anticipated to increase market demand. Technological advancements in production process is expected to boost market growth during the forecast period. Further, increasing population and rising awareness of plant-derived drugs are expected to grow market share during the forecast period.

Asia Pacific is expected to witness significant market growth during the forecast period due to the growing applications of botanical drug. Further, growing prevalence of diseases is anticipated to escalate the adoption of botanical drugs.

Europe is expected to witness considerable market growth due to the increasing government initiatives to support herbal medicine. Further, growing investments by various governments in the region is boosting market growth. In addition, the presence of drug manufacturing companies is one of the factors that is expected to propel the growth of the botanical drug market.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Partnership Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Top Botanical Drug Companies

• Buchang Pharmaceuticals (China)
• China TCM (China)
• Tsumura (Japan)
• Schwabe (Germany)
• Tong Ren Tang (China)
• Jumpcan Pharmaceutical (China)
• Guangzhou Baiyunshan Pharmaceutical (China)
• Yunnan Baiyao (China)
• Tasly Holding Group (China)
• Bionorica Se (China)
• Huarun 999 (China)
• Taiji (China)
• Weleda (Switzerland)
• Kwangdong (China)
• GW Pharmaceuticals (U.K.)

INDUSTRIAL DEVELOPMENT

July 2021 – American Herbal Pharmacopoeia (AHP) and the American Botanical Council (ABC) have entered into a partnership. This partnership is aimed at helping the dietary supplement sector.

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.