Plant-based Biologics Market Is Growing with Increasing Prevalence of Chronic Diseases Plant-based biologics, also known as plant-made biologics, are drugs that are manufactured by using plant molecular farming. Most biologics are given intravenously, however, over the years, many biologics have been developed that are given subcutaneously. Biologic drugs are widely used to prevent, diagnose, treat, […]
Plant-Based Biologics Market Projected to Reach $19.4 Million by 2027
Plant-based Biologics Market Is Growing with Increasing Prevalence of Chronic Diseases
Plant-based biologics, also known as plant-made biologics, are drugs that are manufactured by using plant molecular farming. Most biologics are given intravenously, however, over the years, many biologics have been developed that are given subcutaneously. Biologic drugs are widely used to prevent, diagnose, treat, or cure a variety of diseases, such as infectious diseases, autoimmune disorders, chronic kidney disease, and cancer. Moreover, biologics include a wide variety of products such as blood and blood components, vaccines, somatic cells, gene therapy, tissues, and recombinant therapeutic proteins. Novel therapies and technologies are emerging to create new biologics, which holds a prominent future for the plant-based biologics market.
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Growth of the plant-based biologics market is majorly driven by the increasing prevalence of chronic diseases worldwide and increasing demand for innovative therapies. According to the National Health Council, around 157 million Americans are expected to have more than one chronic disorder by 2020. Moreover, according to the World Health Organization (WHO), diabetes, cancer, and cardiovascular diseases account for around 1.6 million, 9 million, and 17.9 million deaths each year, respectively. Moreover, increasing awareness among people about the advantages of plant-based biologics and robust pipeline of plant-based biologics are some of the major factors driving the plant-based biologics market growth.
For instance, in April 2021, MustGrow Biologics Corporation announced successful field trial studies comparing MustGrow’s mustard plant-based biopesticide versus one of the leading soil fumigation synthetic chemicals, Chloropicrin 100 band (Chloropicrin). Moreover, in April 2021, Health Ministry of Brazil, PlantPraxis Biotecnologia, and PlantForm Corp. announced a collaborative research and development agreement to develop a biosimilar pembrolizumab for the Brazilian market. However, stringent regulations, high cost and difficulty in manufacturing (as biologics are highly complex in nature), and limited availability and affordability in middle-to-low income economies are some factors restraining the plant-based biologics market growth.
In terms of geography, the plant-based biologics market growth, in North America and the Asia Pacific, attributed to the increasing prevalence of chronic diseases, increase in R&D activities to develop biologics, and the increasing awareness regarding biologics in these regions. For instance, in October 2019, Sanofi opened a manufacturing facility in the United States, one of the world’s first facilities using digital continuous biologics production technology. Moreover, the emergence of COVID-19 is expected to offer various opportunities for the growth of the plant-based biologics market. For instance, in June 2020, Sun Pharmaceutical announced that the company is testing a plant-derived drug, AQCH, for the potential treatment of COVID-19.
Major Players Are: 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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The post Plant-based Biologics Market – Is estimated to be valued at US$ 19.4 million in 2021 and is expected to exhibit a CAGR of 3.4% during the forecast period (2021-2027) appeared first on Gatorledger.
