Plant-based Biologics Market Scope
Plant-based biologics can be defined as a Schedule D (biologic) drug produced using plant molecular farming. It is the outcome of an advanced application of biotechnology on plants that enables them to produce therapeutic protein. Plant-based biologics is considered a perfect substitute for traditional techniques that uses microbial fermentation or animal cell culture. This technology is well-equipped in providing patients with greater and immediate access to treatments and is foreseen to expand its uses in the upcoming years.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Fraunhofer IME (Germany), PlantForm (Canada), Mapp Biopharmaceutical (United States), Kentucky BioProcessing, Inc. (United States), Icon Genetics GmbH (Germany), Medicago, Inc. (Canada), iBio Inc. (United States), Greenovation Biotech GmbH (Germany) and Ventria Bioscience Inc. (United States) |
CAGR | 3.1% |
There are many large, small, and medium-sized companies in the plant-based biologics market. Market participants are primarily interested in technological advancements and alternative business strategies such as strategic partnerships; this is also a key factor in the global plant-based biologics market. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Plant-based Biologics market throughout the predicted period.
Fraunhofer IME (Germany), PlantForm (Canada), Mapp Biopharmaceutical (United States), Kentucky BioProcessing, Inc. (United States), Icon Genetics GmbH (Germany), Medicago, Inc. (Canada), iBio Inc. (United States), Greenovation Biotech GmbH (Germany) and Ventria Bioscience Inc. (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Plant-based Biologics market by Type and Region with country level break-up.
On the basis of geography, the market of Plant-based Biologics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In September 2020, Boehringer Ingelheim and the Fraunhofer Institute for Molecular Biology and Applied Ecology announced a new collaboration to develop novel, microbial-based natural products for next-generation animal health products that combat parasitic diseases. The research will make use of Fraunhofer's well-characterized microbial strain collection, which was primarily isolated from invertebrate-associated environments.
In January 2022, Ventria Bioscience announced the launch of its new business unit, CuraVive. The new subsidiary is focused on leading the innovation in plant-based functional food ingredients.
One of the major factors that are expected to restrain the growth of the plant-based biologics market over the period is the stringent regulatory guidelines for the production of plant-based biologics. Concerns about contamination and environmental risks are also expected to stymie market growth. ProdiGene, Inc. Texas, a U.S.-based company, began large-scale production of transgenic maize that produces trypsin. However, the USDA discovered that plant remnants from a previous ProdiGene trial had contaminated a nearby conventional field.
Influencing Trend:
Technological innovations related to the Production of Plant-Derived Biologics Drugs
Market Growth Drivers:
Increase in the Number of Chronic Diseases and Consequent Demand for Biologics, Advancements in Plant Biotechnology Area and Robust pipeline of plant-based biologics
Challenges:
Strict Government Regulation and Stringent regulatory approval process, and potential risks
Restraints:
High Cost for Research and Development
Opportunities:
Low Cost of Manufacturing for the Production of Plant-based Biologics and Used as Biocontrol Agents of Foodborne Pathogens
Key Target Audience
Research and Development Institutes, Potential Investors, Regulatory Bodies, National Laboratories, Industry Associations and Others