April 14, 2009

Greening your drugs

Thanks to Tom Nicolay of Research Advantage for the tip on the booming botanical and plant-derived drugs market.

According to market research firm BCC Research, the global market for botanical and plant-derived drugs was worth $19.5 billion last year and is expected to reach $32.9 billion in 2013 for a compound annual growth rate (CAGR) of 11%.
"Evidence of plant-derived compounds taking on a more significant role in the pharmaceutical market today is the U.S. Food and Drug Administration’s carving out of a new drug approval pathway for botanical drugs in 2004, and approving the first botanical based on these guidelines in 2006." - BCC



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