Global Plant-based Biologics Market to surpass US$ 24.9 million by 2027, Says Coherent Market Insights (CMI)

SEATTLE–(BUSINESS WIRE)–#Biologic–According to Coherent Market Insights, the global plant-based biologics market is estimated to be valued at US$ 19.4 million in 2020 and is expected to exhibit a CAGR of 3.4% during the forecast period (2020-2027).

Key Trends and Analysis of the Global Plant-based Biologics Market:

The increasing number of pipeline products is expected to drive growth of the plant-based biologics market during the forecast period. For instance, in June 2017, PlantForm Corporation and Axis Biotec Brasil announced a strategic collaboration to co-develop a key biosimilar monoclonal antibody drug (a biosimilar version of Humira – adalimumab) from transgenic tobacco for the Brazilian market with funding from Finep (Brazilian Funding Agency for Studies and Projects). Brazilian federal government’s Ministry of Science, Technology and Innovation, provided a grant of US$ 1million for the project to Silvestre Labs, a part of the Axis Biotec Brasil group of companies in 2017. Silvestre Labs will provide a matching contribution of US$ 0.5M to dedicate a total of US$ 1.5M to initiate development of a biosimilar/biobetter version of Humira (adalimumab).

Key manufacturers operating in the plant-based biologics market are engaged in developing more advanced plant- based biologic products for the treatment of various diseases. For instance, in July 2020, Medicago announced it has started Phase I trials of its plant-derived COVID-19 vaccine. The company, which uses virus-like particles (VLPs) in its vaccines rather than animal products or live viruses, has dosed the first healthy volunteer. GlaxoSmithKline Plc and Medicago signed an agreement to jointly develop and evaluate the CoVLP candidate with the companies agreeing to share the cost of development and manufacturing, if it proves to be effective in human subjects in July 2020.

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Key Market Takeaways:

The global plant-based biologics market is expected to exhibit a CAGR of 3.4% during the forecast period (2020-2027), owing to the rising prevalence of COVID-19, HIV AIDS, and Ebola virus infection worldwide. For instance, according to the World Health Organization Coronavirus Disease (COVID-19) Dashboard (WHO) report, the manifestation of COVID-19 has resulted in over 9 million cases in the U.S., 8 million cases in India, and 5 million cases in Brazil as of 29th October 2020.

Key players in the North America plant-based biologics market are focused on development of pipeline products for various plant-based biologics, which is expected to drive growth of the market during the forecast period. For instance, In July 2020, Kentucky Bioprocessing, LLC applied for the U.S. Food and Drug Administration (U.S FDA) approval for COVID-19 vaccine. The company is awaiting for the approval from the U.S FDA, in order to initiate the clinical trials for the COVID-19 vaccine.

Competitive Landscape:

Key players operating in the global plant-based biologics market include Leaf Expression Systems, Zea Biosciences, Planet Biotechnology Inc., InVitria, PlantForm Corporation, IBIO, Inc., Mapp Biopharmaceutical, Inc., Pfizer Inc., Ventria Bioscience Inc., Medicago Inc., Eleva GmbH, Kentucky Bioprocessing, LLC, Solarvest Bioenergy Inc., and Byondis B.V.

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Market Segmentation:

• Global Plant-based Biologics Market, By Product Type:

• Monoclonal Antibodies
• Alpha Interferon
• Glucocerebrosidase
• Vaccines
• Others

• Global Plant-based Biologics Market, By Source Type:

• Carrot
• Tobacco Leaves
• Rice Seeds
• Alfalfa
• Others

• Global Plant-based Biologics Market, By Disease Indication:

• Gaucher Disease
• Tooth Decay
• Hepatitis
• Lymphoma
• Others

• Global Plant-based Biologics Market, By Region:
  • North America
    • By Country:
      • U.S.
      • Canada
  • Europe
    • By Country:
      • U.K.
      • Germany
      • Italy
      • Spain
      • France
      • Russia
      • Rest of Europe
  • Asia Pacific
    • By Country:
      • Australia
      • India
      • China
      • Japan
      • ASEAN
      • South Korea
      • Rest of Asia Pacific
  • Latin America
    • By Country:
      • Brazil
      • Mexico
      • Argentina
      • Rest of Latin America
  • Middle East
    • By Country:
      • GCC
      • Israel
      • Rest of Middle East
  • Africa
    • By Country/Region:
      • South Africa
      • Central Africa
      • North Africa

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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