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Global Plant-based Biologics Market Is Estimated To Witness High Growth Owing To Increasing Demand for Sustainable and Eco-Friendly Products

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Global Plant-based Biologics Market Is Estimated To Witness High Growth Owing To Increasing Demand for Sustainable and Eco-Friendly Products

The global Plant-based Biologics market is estimated to be valued at US$ 19.4 million in 2020 and is expected to exhibit a CAGR of 3.4% over the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Plant-based biologics refer to biopharmaceutical products that are derived from plants, such as algae, tobacco plants, and mosses. These products are gaining traction due to their numerous advantages over traditionally produced biologics. Plant-based biologics offer a sustainable and eco-friendly alternative, as they require fewer resources, have a lower carbon footprint, and do not rely on animal or human sources for production. These products also have the potential to reduce the risk of contamination and increase cost-effectiveness.

Market Key Trends:

The key trend driving the growth of the plant-based biologics market is the increasing demand for sustainable and eco-friendly products. Consumers and regulatory bodies are becoming more conscious of the environmental impact of traditional biologics production methods, which rely heavily on animal and human sources. Plant-based biologics offer a greener alternative with reduced dependence on scarce resources, making them attractive to environmentally conscious consumers. For example, Leaf Expression Systems has developed a proprietary plant-based expression platform that allows for the production of various therapeutic proteins, vaccines, and antibodies.

PEST Analysis:

Political: Governments across the globe are recognizing the potential of plant-based biologics to contribute to sustainable development goals and reduce healthcare costs. They are implementing favorable policies and regulations to support the production and adoption of these products.

Economic: The economic landscape is witnessing a shift towards sustainable practices due to rising concerns about climate change. Plant-based biologics offer cost-effective solutions compared to traditional biologics, making them an attractive option for pharmaceutical companies.

Social: Increasing awareness and consciousness about the environment among consumers are driving the demand for sustainable and eco-friendly products. Plant-based biologics align with these values and are gaining acceptance among individuals seeking greener alternatives.

Technological: Advances in biotechnology and genetic engineering have enabled the development of efficient plant-based expression systems. These technologies are driving the production of high-quality plant-based biologics with improved yields and scalability.

Key Takeaways:

- The Global Plant-based Biologics Market Demand is expected to witness high growth, exhibiting a CAGR of 3.4% over the forecast period, due to increasing demand for sustainable and eco-friendly products.

- North America is expected to dominate the market, followed by Europe, due to their early adoption of plant-based biologics and favorable regulatory environment.

- Key players operating in the global plant-based biologics market include 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. These companies are investing in research and development activities to enhance their plant-based expression systems and expand their product portfolios.

In conclusion, the global plant-based biologics market is poised for significant growth as the demand for sustainable and eco-friendly products continues to rise. With their numerous advantages and increasing adoption, plant-based biologics offer a viable alternative to traditional biologics and have the potential to revolutionize the pharmaceutical industry.

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