The market summary states that the global oxymatrine market size was robust in 2020 and is expected to have double-digit revenue growth over the forecast period. The increasing use of naturally synthesized alkaloids for treating chronic diseases, rising demand for biopesticides, and the increasing use of natural herbal medicines by the geriatric population for the treatment of diseases are the factors driving the growth of the oxymatrine market. Oxymatrine has been traditionally used in China for treating diseases such as viral myocarditis, psoriasis, and eczema, and its increasing prevalence is expected to drive demand for oxymatrine in China. The report also mentions the factors hampering revenue growth, which include limited availability of Sophora flavescens Aiton plants and a lack of professionals to extract alkaloids.
The report further states that the oxymatrine market is segmented based on type into 98% purity, 99% purity, and above 99% purity. The 98% purity segment leads in the global market in terms of revenue share. The market is segmented based on application into pharmaceuticals and pesticides, and the pharmaceutical segment dominates the market in terms of revenue share. The Asia Pacific oxymatrine market is expected to have the fastest revenue growth among other regional markets in the global market, owing to increasing demand for oxymatrine by leading pharmaceutical companies in countries in the region and robust oxymatrine production in China. The report also mentions the companies profiled in the market study, and the strategies adopted by major companies, including mergers, acquisitions, partnerships, and new product development and launch.
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Oxymatrine Market: Drive factors
Oxymatrine is a natural alkaloid compound extracted from the root of the Sophora flavescens plant. It has been traditionally used in Chinese medicine to treat a variety of health conditions, such as viral infections, liver diseases, and inflammation.
In recent years, the demand for oxymatrine has increased due to its potential therapeutic benefits and the growing prevalence of certain diseases. Here are some of the key drivers of the oxymatrine market:
Increasing prevalence of liver diseases: Oxymatrine has been found to have hepatoprotective effects and can help treat liver diseases such as hepatitis B and C. With the rise in the number of people suffering from liver diseases, the demand for oxymatrine as a treatment option is expected to increase.
Growing interest in natural remedies: There is a growing trend towards natural and plant-based remedies, as people become more aware of the potential side effects of synthetic drugs. Oxymatrine, being a natural compound, is increasingly being sought after by individuals looking for alternative treatments.
Rising demand for traditional Chinese medicine: Oxymatrine has been traditionally used in Chinese medicine for centuries, and as interest in traditional medicine grows globally, the demand for oxymatrine as a natural remedy is expected to rise.
Potential therapeutic benefits: Oxymatrine has shown promising results in preclinical studies for a variety of health conditions, including cancer, autoimmune diseases, and cardiovascular diseases. As more research is conducted on the potential therapeutic benefits of oxymatrine, the demand for the compound is likely to increase.
Overall, the increasing prevalence of certain diseases, the growing interest in natural remedies, and the potential therapeutic benefits of oxymatrine are expected to drive the growth of the oxymatrine market in the coming years.
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