Dublin, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The "Plant Based API Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Alkaloids, Anthocyanins, Flavonoids, Phenolic Acids, Terpenoids, Lignans and Stilbenes, Others), By Application, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
Global Plant Based API Market is expected to grow at an impressive rate during the forecast period on account of the growing consumer demand for natural and sustainable products.
Many consumers are becoming more conscious of the environmental impact of the products they use and are increasingly seeking out natural and sustainable alternatives. As a result, many pharmaceutical companies are now turning to plant-based APIs to meet this demand and differentiate themselves in the market, thereby supporting the growth of global plant based API market.
Plant-based APIs are derived from natural sources, such as herbs, spices, and other plants, and are used to produce a wide range of pharmaceuticals, including antibiotics, painkillers, and anticancer drugs. The growing demand for eco friendly products and need to achieve sustainability goals among countries and governments worldwide will create lucrative opportunities for the growth of global plant based API market in the next few years.
Another driver of the global plant-based API market is the growing interest in plant-based medicines. Traditional medicine has long relied on the healing properties of plants, and many of these natural remedies have been shown to be effective in treating a wide range of ailments.
As a result, there is growing interest in the development of plant-based medicines, and plant-based APIs are a key component of this trend.
Growing Interest in Plant Based Medicines
Traditional medicine has long relied on the healing properties of plants, and many of these natural remedies have been shown to be effective in treating a wide range of ailments. As a result, there is a growing interest in the development of plant-based medicines, and plant-based APIs are a key component of this trend.
This has in turn led to the development of various plant based pharmaceuticals thereby driving the growth of global plant based active pharmaceutical ingredient (API) market. For instance, in 2018, the U.S. Food and Drug Administration (FDA) approved Epidiolex, a drug made from cannabidiol (CBD), a compound found in the cannabis plant.
This drug is used to treat two rare forms of epilepsy, Lennox-Gastaut syndrome and Dravet syndrome, in patients two years of age and older. The approval of Epidiolex marked a significant milestone in the use of plant-based pharmaceuticals in Western medicine. Similarly, in 2020, the FDA approved Sutimlimab, a monoclonal antibody made from tobacco plants, for the treatment of hemolysis in adult patients with cold agglutinin disease (CAD).
Sutimlimab is the first plant-based monoclonal antibody to receive FDA approval, and it is a significant step forward in the use of plant-based pharmaceuticals for the treatment of rare diseases. Additionally, in 2020, the FDA approved Ferriprox, an iron chelator used to treat patients with transfusional iron overload.
Ferriprox is made from a plant-based compound called deferiprone, which is derived from a plant called the yellow fever tree. The approval of Ferriprox provides a new treatment option for patients with transfusional iron overload, which can occur in patients with thalassemia, sickle cell anemia, and other blood disorders.
The increasing interest in plant based pharmaceuticals along with growing demand for plant based products will certainly increase the demand for plant based active pharmaceutical ingredients as well, thereby supporting the growth of global plant based API market.
Increasing Prevalence of Chronic Diseases
Chronic diseases such as cancer, diabetes, and heart disease are on the rise, and there is a growing need for new and effective treatments. Plant based APIs have been shown to have a wide range of health benefits, including anti-inflammatory and antioxidant properties, and are being used to produce a wide range of pharmaceuticals.
This has in turn contributed to the launch of plant based versions of several medicine or therapies that are used to treat these chronic conditions, thereby creating new prospects for the growth of global plant based API market in the next few years. For instance, Paclitaxel is a chemotherapy drug used to treat various cancers, including breast, ovarian, and lung cancer.
In 2020, a plant-based version of paclitaxel was launched in India. This plant-based version is made from yew trees, which have been used for centuries to treat various ailments. The plant-based version of paclitaxel is considered to be more sustainable than the traditional synthetic version, as it is produced using renewable resources.
Similarly, Digoxin is a medication used to treat heart failure and certain heart rhythm disorders. In 2021, a plant-based version of digoxin was launched in India. The plant-based version is made from a plant called Digitalis lanata, which has been used in traditional medicine for centuries. The plant-based version of digoxin is seen as a more sustainable alternative to the synthetic version, which is produced using petrochemicals.
Advances in Biotechnology and Genomics
The advancement in genomics and biotechnology has enabled the identification and isolation of specific genes responsible for the production of active compounds in plants. This has led to the development of new plant varieties that produce higher quantities of active compounds, which can be used to develop new plant-based APIs, thereby supporting the growth of global plant based API market.
This has also attracted the focus of various small and big companies worldwide making investment into this space and hence supporting the growth of global plant based API market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Global Plant Based API Market.
- Roquette Freres SA
- EVONIK Industries, AG
- Cargill, Inc.
- Kothari Phytochemicals & Industries Ltd
- Medipure Pharmaceuticals Inc.
- Centroflora Group
- Arboris, LLCs
- BASF SE
- Novartis AG
- Sanofi SA
- GlaxoSmithKline, plc
- F. Hoffmann-La Roche AG
Report Scope:
Plant Based API Market, By Type:
- Alkaloids
- Anthocyanins
- Flavonoids
- Phenolic Acids
- Terpenoids
- Lignans and Stilbenes
- Others
Plant Based API Market, By Application:
- Pharmaceuticals
- Nutraceuticals
- Herbal Based Industries
- Others
Plant Based API Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/82znug
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