The Canadian paddy has been used for more than a century for its therapeutic properties, but this year, it’s looking for a new niche to expand.
The growth medicine industry is rapidly expanding globally, with some developing drugs to treat the common cold, bronchitis and asthma, and some being used to treat cancers.
The industry is looking to export paddy to markets including China and Australia.
But, it faces a problem: a lack of proven treatment options.
The Australian paddy industry has traditionally been a low-cost, low-risk product.
Its producers rely on paddy’s rich root stock and the use of a proprietary root extract that has been linked to a range of medical and pharmaceutical benefits.
The medicinal value of the paddy is also well documented, with studies finding that it helps reduce stress, improve mood, improve blood circulation and boost immune function.
In the U.S., the Australian paddies’ therapeutic properties have been documented in trials for more severe conditions such as lung cancer, multiple sclerosis and osteoarthritis.
But this year the market is expanding with a growing number of companies looking to capitalize on the growing market.
“The market is getting really, really big,” says Andrew Brown, CEO of Penic Grow.
He says there are now several major companies, including Penic Growth and Penic Organics, in the industry.
Penic grow is currently in the process of importing its patented root extract to the U, which is expected to start in late 2018.
That’s where the market for Penic-Grow’s growth medicine is likely to go, says Brown.
“Our market is growing and the growth in our market is huge,” says Brown, adding that there is a need for more growth medicines that can be used by a broader audience.
“You know the world of medicine, the world that we live in is very niche.
The world that is growing the most in the pharmaceutical industry is the world where people are in pain and in need.”
In 2018, there were 5.8 million prescriptions filled in Canada for paddy, according to Health Canada, and Penics Grow says that number is set to continue to rise.
In fact, the company expects the growth medicine market to reach $1.8 billion by 2021.
“It’s an interesting market,” says Benoit Lebeur, CEO and co-founder of Penics Growth.
“There’s a lot of interest.
The market is really, truly exciting.”
Penic grows is also looking to expand its product lines to cover all forms of cystic Fibrosis and other inflammatory conditions, including cancer.
The company is looking at expanding to include cystic lung disease, Crohn’s disease, rheumatoid arthritis, multiple myeloma and osteosarcoma.
“We’re also looking at using our proprietary root extracts for treating certain forms of Parkinson’s disease and Alzheimer’s disease,” says Lebeure.
“So we’re going to see how far we can take this product, and we are certainly looking forward to expanding into other markets.”
Penics grows currently offers its paddy products in the U., Canada, Australia and New Zealand.
“People are really interested in Penic,” says Leszek Zabrocki, CEO, Penic Group.
“And it’s also a niche market.
So we have to keep growing the product line.”