The plant-based biologics market offers an alternative to conventional animal-derived biologics through sustainable, safer and ethical solutions. Plant-based biologics are medical products derived from plants including antibodies, vaccines and blood products that are used to treat various diseases. With advantages such as low-cost production and scalability, plant-based expression systems have emerged as an attractive alternative to generate biologics.
The global plant-based biologics market is estimated to be valued at US$ 15.8 Bn in 2024 and is expected to exhibit a CAGR of 8.2% over the forecast period 2024 to 2031.
Plant-based biologics find widespread applications in the treatment of cancer, diabetes, cardiovascular diseases and infectious diseases due to their effectiveness and fewer side effects. The vegan population has been increasing significantly which has fueled the demand for plant-based therapeutic alternatives.
Key Takeaways
Key players: Key players operating in the plant-based biologics market include DSM Nutritional Products, Lycored, Lycored SARL, FutureCeuticals, Vidya Herbs, Allied Biotech Corporation and Avestia Pharma. These players are focusing on expanding their product portfolios and global presence through partnerships and mergers & acquisitions.
Key opportunities: The Plant-Based Biologics Market Demand presents considerable opportunities for players in the areas of biosimilars, vaccines, monoclonal antibodies and blood products. With growing consumer preference for green alternatives, plant-based biologics present an ethical and sustainable solution.
Global expansion: Major players are expanding globally especially in North America, Europe, Asia Pacific and Latin America markets through distributor networks. Partnerships with CROs, gene transfection technology providers and expression system developers will help broaden capabilities and drive further expansion.
Market Drivers
The key driver for the growth of the plant-based biologics market is the rising vegan population worldwide. As per statistics, around 8% of the US population follows a vegan diet indicating a significant shift towards plant-based lifestyles. This has increased the demand for sustainable, animal-free biologics produced from plants instead of conventional sources. With growing concerns around ethics and environment, plant-based biologics are expected witness higher adoption rates compared to traditional therapy offerings.
PEST Analysis
Political: Regulations regarding research, development and commercialization of plant-based biologics are still evolving. Authorities are working on establishing clear guidelines to promote innovation in this sector.
Economic: Growing biologics market and rising healthcare spending provide a supportive environment for plant-based biologics. However, high R&D costs associated with this technology remain a challenge.
Social: Increasing preference for herbal and natural products is driving demand for plant-based therapies. Concerns around side effects of synthetic drugs also contribute to social acceptance of plant-based alternatives.
Technological: Advancements in recombinant technologies, synthetic biology, and large-scale production techniques enable the development of complex plant-made biologics. Databases on plant genomes aid identification of candidate plant species.
The North American region currently accounts for the largest share of the Plant-Based Biologics Market Regional Analysis in terms of value. This can be attributed to factors such as rising healthcare expenditure, presence of major market players, and growing adoption of herbal products in the US and Canada.
The Asia Pacific region is expected to witness the fastest growth over the forecast period. This growth can be credited to increasing investments in plant-based biologics research and rising health awareness in populous nations such as China and India. Support from governments to develop indigenous technologies also contributes to rapid expansion of the market in the Asia Pacific region.
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About Author-
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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