Plant-based biologics products and therapies aim to deliver the same efficacy as traditional biologics but are produced using sustainable plant-based expression systems rather than laborious and costly fermentation processes. These plant-made pharmaceuticals harness recombinant DNA technology to produce therapeutic proteins in plants like tobacco, alfalfa, and maize. They provide a renewable alternative for developing vital treatments for cancer, infectious diseases, and chronic disorders. Producing biologics through plants is considered more cost-efficient and environmentally-friendly than using the conventional strategies of employing bacteria or mammalian cell cultures.
The global Plant-based Biologics Market is estimated to be valued at US$ 19.4 Mn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving growth in the plant-based biologics market is the increasing R&D expenditure for developing oral plant-made pharmaceuticals. Traditionally injected or infused biologics are difficult to administer and have low patient compliance. Oral formulations could provide enhanced convenience and accessibility of biologics to a wider patient pool. Several companies are conducting research to enable the oral delivery of plant-produced biotherapeutics and vaccines for conditions like diabetes, influenza, and therapeutic enzymes. For example, researchers from Kentucky Bioprocessing, LLC developed a plant-based oral rotavirus vaccine candidate that proved immunogenic and protected animals from rotavirus challenges after oral delivery. This highlights the potential of edible plant-based biologics to transform healthcare.
Threat of new entrants: The plant-based biologics market requires high R&D investments and regulatory approvals which creates entry barriers for new players.
Bargaining power of buyers: The presence of many players operating in the market gives buyers favorable bargaining power in terms of price and quality.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated inputs and switching costs for buyers.
Threat of new substitutes: There exists threat from new synthetic drug substitutes and substitute biologic drugs, which can limit the market for plant-based biologics.
Competitive rivalry: The market experiences high competitive rivalry due to strategic moves by major companies to capture greater market share through product launches and expansion.
The global plant-based biologics market is expected to witness high growth over the forecast period driven by increasing demand for sustainable biologics and factors such as cost-effectiveness.
Regional analysis: North America is expected to dominate the plant-based biologics market during the forecast period owing to high awareness about therapeutic proteins, rising R&D investments from key players, and supportive regulatory framework in the region.Asia Pacific is poised to exhibit the fastest growth during the forecast period attributed to increasing healthcare expenditure, rising disease burden, and growing focus on biosimilars and biopharmaceuticals in the region.
Key players: Key players operating in the plant-based biologics market 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. Leaf Expression Systems and Zea Biosciences are engaged in offering innovative technology platforms to enable manufacturing of recombinant proteins in plants.
- Source: Coherent Market Insights, Public sources, Desk research
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