Global Plant-Based API Market: Trends, Growth, and Forecast
The global plant-based API market size is expected to reach USD 44.65 billion by 2030, expanding at a CAGR of 6.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the plant based active pharmaceutical ingredient (API) market is attributable to the rising prevalence of chronic diseases and an increasing adoption of plant based products for development of medication owing to the high effectiveness associated with herbal products. For instance, taxol is found the most effective for cancer treatment. scopolamine is found to be effective for motion sickness and buprenorphine is best adopted for addiction treatments. These drugs are long being used for medicinal purposes in treatment of wide range of diseases. A major driver for market growth is the enhancement of brain function due to the presence of secondary metabolites. Plant based API are widely used for modification of CNS functions. It is highly researched that most plan...