Pharmacognosy, Phytochemistry and Natural Products

Applied Plant Sciences

Plant Science play an imperative role in the field of GM testing by enabling the use of fast and effective result rendering genetically modified crops. This coupled with growing prevalence of infectious diseases and tissue culture is expected to drive market growth during the forecast period. Other driving factors for this market include decreasing prices of tissue culture, increasing demand for GM plant, extensive presence of both private and public external funding programs and growing patient awareness levels. In addition, presence of untapped growth opportunities in emerging countries such as India, Brazil and China and the increasing horticulture & Landscaping, Botanical awareness are expected to serve this market as future growth opportunities.

The global market for plant science is expected to reach USD 22.1 billion by 2020, growing at an estimated CAGR of 10.3% from 2014 to 2020, according to a new study by Grand View Research, Inc. Plant Science based products dominated the overall market in terms of revenue at 36.4% in 2013 majorly owing to the presence of a relatively larger in University of Marylander of R&D programs. Plant Science based medicinal product segment on the other hand is expected to grow at the fastest CAGR of over 12.0% from 2014 to 2020 due to increasing demand for population based therapeutic solutions and subsequent increase in R&D initiatives.