Global Plant-basedBiologics Market, by Product Type (Monoclonal Antibodies, Alpha Interferon,Glucocerebrosidase, Vaccines, and Others), by Source Type (Carrot, TobaccoLeaves, Rice Seeds, Alfalfa, and Others), by Disease Indication (GaucherDisease, Tooth Decay, Hepatitis, Lymphoma, and Others), and by Region (NorthAmerica, Latin America, Europe, Asia Pacific, Middle East, and Africa), isestimated to be valued at US$ 19.4 million in 2020 and is expected to exhibit aCAGR of 3.4% during the forecast period (2020-2027), as highlighted in a newreport published by Coherent Market Insights.
Plant-based Biologics Market -Impact of Coronavirus (COVID-19) Pandemic
Several companies are engaged invarious activities to support hospitals, diagnostic centers, and others, inorder to combat the COVID-19 pandemic. Companies are also introducing variousproducts to combat the COVID-19 infection. For instance, in August 2020, iBio,Inc., a biotechnology innovator and biologics contract manufacturingorganization, announced that it has entered into an exclusive worldwide licenseagreement with Planet Biotechnology Inc. for the development of Planet’sCOVID-19 therapeutic candidate, ACE2-Fc. ACE2-Fc is a recombinant proteincomprised of human angiotensin converting enzyme 2 (ACE2) fused to a humanimmunoglobulin G Fc fragment (Fc). iBio is also developing multiple vaccineplatforms using its readily scalable FastPharming plant-based production systemto provide long-term immunity without the safety concerns presented by DNA- andRNA-based vaccines.
The increasing number of pipelineproducts, clinical trials, and collaborations and partnerships strategiesadopted by key players are the major factors, which are expected to drivegrowth of the plant-based biologics market during the forecast period.
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The increasing number ofplant-based biologics products in the pipeline is expected to contributesignificantly to the plant-based biologics market growth. For instance,Protalix Biotherapeutics’s, a global plant based biologics drug manufacturingcompany have two major plant-based drug candidates in their pipeline – OPRX-106is a plant cell-expressed recombinant human tumor necrosis factor receptor IIfused to an IgG1 Fc domain (TNFRII-Fc), for inhibiting TNF alpha. It is indevelopment for oral administration. OPRX-106 is used for the treatment ofulcerative colitis and showed positive results from phase 2 clinical trial inJune 2018. Furthermore, Alidornase alfa (PRX-110) is a proprietary plantcell-expressed recombinant form of human deoxyribonuclease I (DNase I) that thecompany is developing to reduce the viscosity of sputum that accumulates in thelungs of cystic fibrosis patients. The product is in phase 2 clinical trial.
Key players in the globalplant-based biologics market are focused on entering potential untapped marketsin various regions by expanding their manufacturing facilities. For instance,in 2017, Ventria Bioscience Inc. expanded its biomanufacturing and laboratoryfacilities to double Ventria’s production capacity of recombinant proteins, inthe Junction City, Kansas. The expanded facility involves addition of molecularbiology lab, greenhouses, process development and analytical lab, andprocessing capacity. Furthermore, in 2017, PlantForm Corporation, inpartnership with Brazil-based Axis Biotec Brasil, launched a new joint venture,which included a new facility consisting of a biopharmaceutical lab and pilotproduction facility in Rio de Janeiro.
Browse 42 Market Data Tables and34 Figures spread through 204 Pages and in-depth TOC on Global Plant-basedBiologics Market, by Product Type (Monoclonal Antibodies, Alpha Interferon,Glucocerebrosidase, Vaccines, and Others), by Source Type (Carrot, TobaccoLeaves, Rice Seeds, Alfalfa, and Others), by Disease Indication (GaucherDisease, Tooth Decay, Hepatitis, Lymphoma, and Others), and by Region (NorthAmerica, Latin America, Europe, Asia Pacific, Middle East, and Africa) -Forecast to 2027"
Browse ResearchReport: https://www.coherentmarketinsights.com/market-insight/plant-based-biologics-market-2394
The rising adoption of inorganicgrowth strategies such as collaborations and partnerships by major companies isexpected to drive growth of the plant-based biologics market. For instance, inAugust 2019, iBio, Inc., a global plant-based biopharmaceutical contractdevelopment and cGMP manufacturing services company, announced that it hasexpanded the scope of its business venture/collaboration with CC-Pharming Ltd.by granting it an exclusive, royalty-bearing commercial license to iBio’sbio-better rituximab (iBio Rituximab) product candidates for the territory ofChina.
Key Takeaways of the Plant-basedBiologics Market:
The plant-based biologics marketis expected to exhibit a CAGR of 3.4% during the forecast period (2020-2027),owing to the increasing number of product approvals and launches by key players
Among product type,glucocerebrosidase segment is expected to hold major revenue share in 2027,owing to the increasing product approval of plant-based biologics for humanuse. For instance, in May 2012, Protalix BioTherapeutics and Pfizer Inc.announced that the U.S. Food and Drug Administration (FDA) approved itstaliglucerase alfa for injection, as an enzyme replacement therapy (ERT) forthe long-term treatment of adult patients with a confirmed diagnosis of type 1Gaucher disease. Taliglucerase alfa is a proprietary, recombinant form ofglucocerebrosidase (GCD) and is the company’s first approved drug productdeveloped using ProCellEx a platform to develop plant-based biologics.
Major players operating in theplant-based biologics market include Leaf Expression Systems, Zea Biosciences,Planet Biotechnology Inc., InVitria, PlantForm Corporation, IBIO, Inc., MappBiopharmaceutical, Inc., Pfizer Inc., Ventria Bioscience Inc., Medicago Inc.,Eleva GmbH, Kentucky Bioprocessing, LLC, Solarvest Bioenergy Inc., and ByondisB.V.
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