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Phytochemical APIs are active chemical compounds extracted from plants with the help of semi-synthetic procedures and possess medicinal properties. Phytochemicals are divided into two categories such as primary and secondary constituents. Primary phytochemicals includes chlorophyll, proteins, sugar, and amino acids, while secondary constituents contain terpenoids and alkaloids. Phytochemical API plays an important role in pharmaceutical companies for the production of new drugs for curing various diseases.

Global Phytochemical API Market Drivers

Increasing preferences of herbal medicines over allopathic drugs is expected to boost growth of the phytochemical API market. Moreover, increasing initiatives by pharmacognosy research to develop drugs containing natural chemical compounds is another factor to drive the phytochemical API market growth. For instance, in 2017, as per new research paper published in the Journal of Natural Compounds, International Cooperative Biodiversity Group discovered new chemical, Patentiflorin A, which is derived from willow-leaved Justicia. Patentiflorin A could inhibit the action of reverse transcriptase much more effectively than Azidothymidine (AZT). AZT is an antiretroviral medication used to prevent and treat HIV/AIDS. Patentiflorin A acts as a novel anti-HIV agent that can be used with current anti-HIV drugs to suppress the activity of HIV virus and prevent AIDS.

However, availability of prominent allopathic drugs to cure disease conditions in lesser time interval than herbal drugs is expected to hinder the growth of phytochemical API market.

Global Phytochemical API Market - Regional Analysis

On the basis of region, the global phytochemical API market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Geographically, North America is expected to witness conducive growth for phytochemical API market, owing to increasing number of pipeline studies to develop medications containing active chemical compounds extracted from plants. For instance, in August 2018, University of Michigan initiated phase 2/phase 3 clinical trial for colchicine, to study the effect of postoperative treatment of colchicine in Fontan patients. Colchicine, an anti-inflammatory agent, is a toxic alkaloid and secondary metabolite extracted from plants of the genus Colchicum. The study is estimated to complete by June 2020.

Moreover, keys player in Europe are focused on adopting business strategies such as acquisitions and collaborations in order to strengthen its business, which is expected to show significant growth for phytochemical API market in the region. For instance, in 2014, Centroflora CMS, Luxembourg-based pharmaceutical group, acquired phytochemical API product portfolio from Boehringer Ingelheim. The company signed a multi-year exclusive agreement with Boehringer Ingelheim to supply phytochemical APIs products in the market. The acquired product portfolio includes chemical compounds such as atropine and atropine sulfate, digoxin, and digoxin micron, along with metildigoxin, homatropine methylbromide, homatropine hydrobromide, and dihydroergotamine mesylate.

Key players for phytochemical API market include Kothari Phytochemicals & Industries Ltd., Lipo Foods, Medipure Pharmaceuticals Inc., Centroflora CMS, SeQuent Scientific Limited, Arboris LLC, Cargill Inc., Indo Phytochem Pharmaceuticals., and BASF SE.

Global Phytochemical API Market Taxonomy

By Molecule Type

  • Alkaloids
  • Anthocyanins
  • Flavonoids
  • Phenolic acids
  • Terpenoids
  • Lignans and stilbenes
  • Others

By End User

  • Pharmaceutical
  • Nutraceuticals
  • Herbal based industries
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users