According to Coherent Market Insights, the Plant-based Biologics Market size is calculated at US$ 19.4 million in 2020 and is projected to surpass US$ 24.9 Million by 2027 with a remarkable CAGR of 3.4% from 2020 to 2027.
Market Dynamics:
Rising adoption of biologics and biosimilars across the globe drives market growth. According to the European Biopharmaceutical Enterprises survey, the adoption of biologics increased from 34% in 2015 to 43% in 2018 among European physicians. Similarly, as per IQVIA, the global biologic drug sales increased from US$ 130 billion in 2015 to US$ 187 billion in 2018.
Growing prevalence of chronic diseases such as cancer and diabetes also fuels the demand for biopharmaceuticals globally. Moreover, advantages of plant-based biologics such as economical manufacturing and scale-up are contributing towards the market growth.
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Market Trends:
Increasing investment in plant-based biologics manufacturing is a key trend in the market. For instance, in March 2020, Medicago, a biopharmaceutical company invested US$ 121 million in the construction of a new plant to produce plant-based biologic vaccines and therapeutics.
Partnerships and collaborations between drug manufacturers and contract development and manufacturing organizations (CDMOs) is another key trend. For example, in January 2020, Wageningen UR entered into a partnership with VTT Technical Research Centre of Finland and Wroclaw University of Environmental and Life Sciences to develop biotech crops for producing high-value biologics.
Plant-Based Biologics Market Report Coverage
|
Report Coverage |
Details |
|
Market Revenue in 2020 |
US$ 19.4 million |
|
Estimated Value by 2027 |
US$ 24.9 million |
|
Growth Rate |
Poised to grow at a CAGR of 3.4% |
|
Historical Data |
2017–2019 |
|
Forecast Period |
2020–2027 |
|
Forecast Units |
Value (USD Million/Billion) |
|
Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
By Product Type, By Source Type, By Disease Indication |
|
Geographies Covered |
North America, Europe, Asia Pacific, and Rest of World |
|
Growth Drivers |
Advantages of plant-based biologics Robust pipeline of plant-based biologics |
|
Restraints & Challenges |
Stringent regulatory approval process, and potential risks |
Market Opportunities
The global plant-based biologics market size is expected to reach USD 24.9 million by 2027, expanding at a CAGR of 3.4% over the forecast period. This is due to prevalence of chronic diseases and rising demand for cost-effective biologics.
The monoclonal antibodies segment accounted for the largest revenue share of more than 35.0% in 2020. This is due to wide applications in the treatment of various chronic diseases. Monoclonal antibodies are manufactured using plant-based expression systems like tobacco plants and help address the growing demand for affordable biologics globally.
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Key Market Takeaways
Based on source type, the tobacco leaves segment is anticipated to witness the fastest growth over the forecast period. This is due to the extensive research undertaken on tobacco-based expression systems to produce various plant-made pharmaceuticals.
In terms of disease indications, the Gaucher disease segment held the largest market share in 2020. This is due to enzyme replacement therapy (ERT) for this disease relies heavily on plant-based production methods.
By region, North America dominated the global market in 2020. This is due to substantial research funding and presence of key market players in the US and Canada.
Key players operating in the plant-based biologics market include
Leaf Expression Systems
Zea Biosciences
Planet Biotechnology Inc.
PlantForm Corporation.
Mapp Biopharmaceutical, Inc.
Pfizer Inc.
Ventria Bioscience Inc.
Medicago Inc.
Eleva GmbH
Kentucky Bioprocessing, LLC
Recent Developments:
In June 2017, Axis Biotec Brasil announced the construction of a biopharmaceutical expression and manufacturing facility based on tobacco leaves in Brazil for the development of biosimilar, protein, and biobetter pharmaceuticals for the domestic market.
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