Plant-based Biologics Market 2021 Research with COVID-19 Impact Analysis - Segmentation, Regional Outlook and Competition Analysis to 2028

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Shibuya Data Count

Jan 05, 2022, 02:11 EST

Shibuya-ku, Tokyo, Japan, Japan, Jan 05, 2022, 02:11 /Comserve / -- The global plant-based biologics market forecast will be $164.2 million by 2026, increasing from $102.0 million in 2018 at a healthy CAGR of 6.1%.

The global plant-based biologics market forecast will be $164.2 million by 2026, increasing from $102.0 million in 2018 at a healthy CAGR of 6.1%.

Plant-based biologics are also called as plant-derived biologics and can be defined as a Schedule D drug which is produced by using plant molecular farming. Plants offer several key advantages like high scalability and they are potentially lower in cost. So various plants such as tobacco, carrot, and others are highly used for the production of biologics.

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Enormously rising demand for biologics mainly due to growth in the prevalence of chronic diseases like Alzheimer's disease, diabetes, and heart disease, has augmented the plant-based biologics market, during the forecast period. Utilization of plants for the manufacturing of biologics minimizes contamination from adventitious agents, which is one of the significant factors for the growth of plant-based biologics market. Furthermore, plant-based biologics provide multiple advantages like they are low in cost and they have the capability to manufacture complex and novel molecules. Alternatives like mammalian biopharmaceuticals are projected to decline the plant-based biologics market growth, over the forecast period. In recent years, the novel transient expression vectors are produced which are highly advanced than traditional plant-made biologics. These biologics have the ability to produce therapeutics and advanced vaccines to control bioterrorism or pandemics. In addition, these plant-derived biologics have key features such as they are cost-effective, and they have high scalability. These above-mentioned elements are projected to create vast opportunities for plant-based biologics market.

Based on the plant parts, the global plant-based biologics is broadly categorized into seed-based, leaf-based, tuber-based, fruit-based, and others. Leaf-based biologics have the largest market share and it is anticipated to register a revenue of $71.0 million by 2026, increasing from $46.0 million in 2018.

Based on source, global plant-based biologics are broadly categorized into tobacco, carrot, alfalfa, moss, rice, duckweed, and others. Plant-based Biologics market of the Duckweed segment shall have extensive growth and it is projected to generate a revenue of $12.0 million by 2026,rising from $5.0 million in 2018. Tobacco based biologics segment has a significant share in the market and is expected to register a revenue of $71.0 million, by 2026, throughout the forecast period.

Plant-based biologics market in Europe is the fastest-growing and it is projected to grow at a healthy CAGR of 8.1% by registering revenue of $51.5 million by 2026. The North America plant-based biologics market registered a revenue of $54.1 million in 2018 and it is projected to generate revenue of $87.3 million during the projected period.

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Some of the major Plant-based Biologics market players include Ventria Bioscience Inc., Medicago, Inc., iBio, Icon Genetics GmbH, PhycoBiologics Inc., Fraunhofer IME, PlantForm, Kentucky BioProcessing, Inc., Mapp Biopharmaceautical - Leaf Bio., and Greenovation Biotech GmbH. Plant-based biologics market leading players are focusing more on advancements of technology, merger & acquisition and integrated product development. These are the multiple strategies followed by established ventures.

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