Global Madagascar Periwinkle Extract Market Report and Forecast 2024-2032

Global Madagascar Periwinkle Extract Market Outlook

The global Madagascar periwinkle extract market is being aided by the growth of the plant extract market. The global plant extract market is expected to grow at a CAGR of 12.8% in the forecast period of 2024-2032 to reach a value of USD 141.72 billion by 2032.

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Growing Utilisation in the Pharmaceutical Sector to Significantly Drive the Demand for Madagascar Periwinkle Extract

Based on application, Madagascar periwinkle extracts are primarily used in the pharmaceutical industry to prepare anticancer drugs. The growing demand for plant-based drugs to treat cancer and other diseases is expected to significantly drive the growth of the segment. Meanwhile, the research activities have also revealed that the extracts obtained from the leaves of Madagascar periwinkle possess antibacterial properties that help in preventing plant diseases effectively, thus, opening new opportunities for the product in the agricultural industry.

This plant species is native to the Western Indian Ocean’s large island of Madagascar, next to Africa. Being a popular ornamental plant in various tropical as well subtropical regions worldwide, Madagascar periwinkle is widely cultivated across these regions. It is a fast-growing plant that is easy to cultivate. The regions like Spain, the United States, China, Africa, Australia, India, and Southern Europe widely cultivate this herb for its medicinal uses at a commercial level. The drugs obtained from the plant find major markets in the United States, West Germany, Hungary, Italy, the United Kingdom, and Netherlands, among others.

Madagascar Periwinkle Extract: Market Segmentation

Madagascar periwinkle, also called as Catharanthus roseus (L.), is a significant floral species in horticulture and is one of the few pharmacological plants with a long history of use in Ayurvedic and traditional Chinese medicines. It is of great importance as it possesses two invaluable antitumour terpenoid indole alkaloids (TIAs), namely, vincristine and vinblastine. Today, it is one of the most important sources of natural drugs in chemotherapy treatments for a range of human cancers and some other ailments.

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By source, the market is divided into:

• Leaf
• Stem
• Flower
• Root

Based on process, the industry can be segmented into:

• Solvent Extract
• Liquid-Solid Extract
• Others

The various applications of madagascar periwinkle extract are:

• Diabetes
• Cancer
• Cough
• Lung Congestion
• Skin Infections
• Others

On the basis of end use, the industry is categorised into:

• Pharmaceuticals
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Growing Research and Development Activities to Boost the Growth of the Madagascar Periwinkle Extract Industry

The growing research activities to meet the unmet needs of patients suffering from cancer is leading to the development of effective treatment options and drugs. Alkaloids obtained from Madagascar periwinkle extracts are being increasingly adopted by the manufacturers to prepare anticancer drugs. However, terpenoid indole alkaloids are present only in micro quantities in the plant, which remains a key challenge for researchers working towards making the extraction process more cost effective and efficient. The market is further supported by the changing dietary habits and sedentary lifestyle, which is leading to an increased prevalence of chronic diseases across the globe. The growing investments in R&D and clinical trials by the various government and private organisations to find the other potential applications of Madagascar periwinkle extract are expected to enhance the growth of the industry over the forecast period.

Key Industry Players in the Global Madagascar Periwinkle Extract Market

The report gives a detailed analysis of the following key players in the global Madagascar periwinkle extract market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Xi'an Saiyang Biotechnology Co., LTD
• Summit Ingredients Co., Ltd.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report