Plant-based Biologics Market - Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2018 - 2028
Demand for biologics that the world is witnessing right now is difficult to meet by mammalian cell culture production. A number of reasons stand behind this challenges. One, the availability is limited and two, the scalability is limited. In such a scenario, it is a major plus that plant-based alternatives are available which are quality substitutes to mammalian variants. Besides, advancement in glycoengineering, downstream processing and expression vectors is helping plant variants gain steam.
It is noteworthy here that plants can reduce the cost of a biologic and at the same time, these can be as effective in eukaryotic protein modification as animal cultures. And, thus as per a Transparency Market Research analysis, it will be the next major development in biotechnology, driving market on a growth curve charted by a robust CAGR (Compound Annual Growth Rate)
The landscape of Global Plant-based Biologics Market is at the cusp of transformation, owing to notable developments that are contributing largely to shaping its future, including competitive landscape. A glimpse is provided below.
In 2017, Denka, a Japanese company, acquired Icon Genetics Inc, a plant biotech company based out of Germany. The acquisition was worth USD 85 million and it clearly improves the market share and penetration of Denka which can further solidify its position as it can now focus on vaccines and diagnostics reagents, in order to develop new biopharmaceuticals. This is inclusive of biosimilar and ‘biobetter’ antibodies.
The global plant-based biologics market is highly consolidated. And, prominent players in the global plant-based biologics market are PlantForm, IBio Inc., Mapp Biopharmaceutical, Inc., Pfizer Inc., Ventria Bioscience, Medicago Inc., Greenovation Biotech GmbH, Kentucky BioProcessing, PhycoBiologics Inc., Synthon, Fraunhofer IME, Healthgen, PlanetBiotechnology, and Icon Genetics GmbH among others.
Current focus for most companies to chart growth in the global plant-based biologics market is through improving product and focusing on research and development (R&D). Thus, it does not come as a surprise that R&D is a critical focal point. Additionally, to stay ahead of the curve, players opt for mergers and acquisitions. Moreover, partnerships and collaborations entered strategically lead to exploration of synergies for future growth.
The global next generation memory market is being driven on to a high growth trajectory, owing to a number of factors. Some of the most potent ones are outlined below:
Global Biologics Manufacturers are shifting focus to plant biologics owing to limited availability of alternatives such as mammalian cultures. They not only have the expertise in the field but also core competencies. Besides, as chronic diseases see a rise in incidence, demands for these increase and to meet the unmet demand, plant based biologics offer the perfect alternative. In the United Sates, six in every ten people suffer from a chronic disease and four in evert ten suffer from at least two.
The reason for rising demand for biologics is that they offer a new treatment mechanism. This applies to a wide range of diseases and also includes cancer and immune disorders. Contributing massively is also the innovations and technological advancements, lowering manufacturing costs, allowing for easy storage of plant-based biologics.
The North American region is set to dominate the market playfield owing to the presence of a wide number of government and private research institutions working actively in the field. An example here would be of Fraunhofer Centre for Molecular Biotechnology. In 2015, it finished off clinical trials for plant-derived recombinant protective antigen (Biological: PA83-FhCMB) for anthrax vaccine.
On the basis of plant system, the global plant-based biologics market is segmented into:
On the basis of source, the global plant-based biologics market is segmented into:
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