Global Plant-Based Biologics Market Will Surpass USD 31.1 Billion by 2031
The global plant-based biologics market is anticipated to increase to USD 31.1 billion by 2031 from USD 19.1 billion in 2020, with a CAGR forecast of 5%. Plant-based biologics are described as biologics that contain plant extracts as a base. Plant-based remedies are simpler and more cost-effective to manufacture on a larger scale than mammalian cell culture-based drugs, making them a viable treatment option for a variety of diseases. Due to a rise in chronic diseases and a geriatric population in countries such as the United States, China, Japan, Brazil, and India, among others, the global plant-based biologics market is expected to grow rapidly in the coming years.
Browse ThinkWise Intelligence's exclusive report, spread through 218 Pages on: GLOBAL PLANT-BASED BIOLOGICS MARKET, BY PRODUCT TYPE (LEAF-BASED, SEEDS-BASED, FRUITS-BASED, TUBERS-BASED, OTHERS), BY SOURCE TYPE (CARROT, TOBACCO, ALFALFA, RICE, DUCKWEED, MOSS, OTHERS)– COMPETITIVE LANDSCAPE & GROWTH POTENTIAL ANALYSIS, 2021-2031
THE LEAF-BASED BIOLOGICS MARKET IS THE LARGEST TYPE IN THE GLOBAL MARKET
Leaves have enormous potential as photosynthetic factories for the low-cost development of commercially useful bio medicines and critical industrial proteins. It has recently been demonstrated that vine leaves have many health benefits, including ten times the antioxidant activity of pulp or grape juice. These key elements are expected to drive the market's growth. Leaf-based biologics are ideal for the development of recombinant proteins and antibodies. In addition to being a rich source of phenolic compounds, leaf-based biologics have a broad variety of therapeutic properties. Furthermore, research indicates that vine leaf extract has an optimistic effect on cardiovascular diseases. These aspects are projected to boost the growth of the leaf-based segment in the global market.
DURING THE FORECAST PERIOD, THE PLANT-BASED BIOLOGICS MARKET FOR DUCK WEEDIS TYPE IS EXPECTED TO REPORT THE HIGHEST CAGR IN THE GLOBAL MARKET
Duck weed is thought to be an easy and appropriate host for the pathogenic bacterial infection study. Furthermore, duckweed may be used to conduct in-depth research on virulence factors and host-pathogen interactions. Duckweed is also known as an important method for large-scale screening in the discovery of antimicrobial chemicals. Furthermore, duckweeds are small in size and have the ability to reproduce rapidly and primarily by vegetative reproduction, resulting in genetically uniform clones. Furthermore, duckweeds are widely used as model plants in genetics, plant physiology, environmental monitoring, and ecology research.
NORTH AMERICA PLANT-BASED BIOLOGICS MARKET IS ANTICIPATED TO HOLD THE LARGEST SHARE IN THE GLOBAL MARKET DURING THE FORECAST PERIOD
Over the forecast era, North America is projected to be the most profitable area in the plant-based biologics industry. This is due to the involvement of numerous private and government research organizations in this area focusing on R&D activities to establish plant-based biologics. Furthermore, key North American players are focusing on conducting clinical trials to develop plant-based biologics for the treatment of various chronic diseases, which is expected to drive growth in the plant-based biologics market in this area. Furthermore, the Latin America plant-based biologics market is expected to expand significantly during the forecast era, owing to the launch and development of plant-based biologics manufacturing facilities.
Genetics GmbH, Medicago, Inc., Greenovation Biotech GmbH, Mapp Biopharmaceautical - Leaf Bio., Ventria Bioscience Inc., iBio, Planform, PhycoBiologics Inc., Kentucky Bioprocessing, Inc. are just a few of the market's major players.