Catharanthine Market Analysis by Application and Geography with Top Industry Leaders Stanford Chemicals, Cayman Chemicals, Bio Vision Inc, Enzo Biochem Inc, Hainan Yueyang Biotech Co Ltd
Medicinal plants today form a major portion of rich biodiversity globally and are still not explored to its potential. The need for the new medicinal products out from the plant has received a great interest in the present research world due to high cost and the higher side effects that are associated with the chemically manufactured drug. Catharanthine is defined as an alkaloid which is isolated from catharanthus roseus, which is a potent medicinal plant for many of the pharmacological reactions such as antimicrobial, antioxidant and antidiabetic effect amongst others. The essential chemical, can be used as a starting material for the synthesis of the anti-tumour drugs vinblastine and vincristine. It stimulates the release of amylase from pancreatic fragments and causes extensive degranulation of pancreatic acinar cells. Catharanthine finds a number of application in the healthcare and pharmaceutical industry. It is highly utilized in the treatment of childhood cancer. Catharanthine is less known in the market and hence is at the initial stage of advancement showcasing high potential over the forecast period. Catharanthine is relatively new to the market and hence, the global catharanthine market is very niche. Moreover, with the increasing awareness among market players about the benefits of catharanthine, the market is anticipated to witness a high growth over the forecast period.
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Global Catharanthine Market: Drivers & Restraints
The global catharanthine market is mainly driven by the growth in the medical and pharmaceutical industry. Currently, the global healthcare expenditure represents 10.6% of the overall GDP and is anticipated to register a steady CAGR of 5% in the next five years. Catharanthine finds major application in healthcare industry. The rise in chronic diseases has led to the increase in the demand for pharmaceutical products, which in turn is projected to boost the global catharanthine market by the end of forecast period. Moreover, some of the other macro-economic factors affecting the global catharanthine market are aging population, changing lifestyle of people and the increase in disposable income of people. The global catharanthine market is anticipated to grow with the technological advancements undertaken by most of the global manufacturers. More and more players are expected to invest in the catharanthine production in the coming years.
Global Catharanthine Market: Segmentation
On the basis of product type, the global catharanthine market is segmented into
- Catharanthine sulfate
- Catharanthine tartrate
On the basis of end use industry, the global catharanthine market is segmented into
- Food & beverage
Global Catharanthine Market: Region-wise Outlook
In terms of geography, the global catharanthine market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. The catharanthine market is concentrated in North America region and is expected to contribute maximum market share as North America contributes maximum share in the global pharmaceutical industry. This is typically due to the prominent role of US pharmaceutical sector. Asia Pacific is also expected to demonstrate highest growth rate in the global catharanthine market. This is basically due to the growing pharmaceutical industry in emerging economies such as India and China. The European countries are also expected to contribute a prominent share in the global catharanthine market.
Global Catharanthine Market: Key Players
Key players in the global catharanthine market include AK Scientific Inc, Stanford Chemicals, Cayman Chemicals, Bio Vision Inc, Enzo Biochem Inc, Hainan Yueyang Biotech Co Ltd, Abcam and ChemFaces.
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