Botanical Drugs a Growth Industry

WELLESLEY, Mass.—The global market for botanical and plant-derived drugs will reach $32.9 billion by 2013, up from $19.5 billion in 2008, according to BCC Research. The firm’s new report, “Botanical and Plant-Derived Drugs: Global Markets” (BIO022E) breaks down the market into botanical drugs and other plant-derived drugs, with plant-derived drugs reporting the lion’s share of the business. However, while botanical drugs only netted $127K in 2008, sales are projected to rise at a compound annual growth rate of 651 percent through 2013. Oncology, hormone and metabolism are the prominent categories seeing introductions of such drugs.