New York, USA, May 26, 2020 (GLOBE NEWSWIRE) -- The Global Plant-Based Biologics Market to is expected to reach $164.2 million by 2026 and exhibit a CAGR of 6.1% over the period 2019 to 2026, states a new report published by Research Dive. In addition, the research outlines the current scenario and growth prospects of the global plant-based biologics market for the forecast period.
The forecasts highlighted in the report have been derived using proven research methodologies and assumptions. This research report is a great source of study material that offers analysis and information for every facet of the global plant-based biologics market.
Top drivers of the market
As per the report, growing number of cases of chronic diseases such as heart disease, diabetes, Alzheimer's disease, and others is expected to boost the growth of the global plant-based biologics market. The usage of plants for the manufacture of biologics eradicates possible infections from adventitious agents. In addition, plant-based biologics offer several benefits including low cost, scalability, and improved efficiency. All these factors hugely contribute to the growth of the market. Whereas growing investments by many established companies into the development of plant-made biologics is considered as a major factor fueling the market growth. Apart from this, recent studies on plant-made biologics such as plant downstream processing, expression vector development, and glycol-engineering are also anticipated to propel the growth of the market.
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Leaf-based segment to dominate the market
Based on plant parts, the report divides the market into Leaf-based, seed-based, fruit-based, and others. Among these, the leaf-based segment is expected to dominate the market by generating a revenue of $71.0 million by 2026. This is mainly due to ability of this leaf-based plants to produce numerous recombinant proteins and antibodies. Also, these plants have many therapeutic proprieties and are a good source of phenolic compounds.
Tobacco segment to grab major share of the market
Based on source, the report divides the market into carrot, tobacco, duckweed, rice, and others. Among these, the tobacco segment is foreseen to dominate the global market by garnering a revenue of $71.0 million by 2026. This is mainly because of the growing preference for tobacco plant by several plant-based biologics manufacturers. Furthermore, several top players are now substituting mammalian-based biologics with tobacco-based biologics as tobacco grows well indoors and can be grown in huge quantities even in a small areas.
North America to lead the market
Based on region, the report evaluates the market across North America, Europe, Asia-Pacific, and LAMEA. Among these, North American region is expected to dominate the market by generating a revenue of $87.3 million by 2026. This is mainly due to growing investments in the plant-based biologics industry by top market players in the U.S. These investments are mainly focused on research & development activities and invention of novel technologies. On the other hand, European region is expected to grow at a CAGR of 8.1% by garnering a revenue of $51.5 million by 2026. This is mainly attributed to the growing technological developments, increased investments in R&D activities, and development of advanced techniques.
Top 10 Players of the Plant-Based Biologics Market:
Some of the major players functioning in the global plant-based biologics market are
- Greenovation Biotech GmbH
- Icon Genetics GmbH
- Medicago, Inc.
- Kentucky BioProcessing, Inc.
- Mapp Biopharmaceautical - Leaf Bio
- iBioPharma Inc.
- PlantForm Corporation
- PhycoBiologics Inc.
- Ventria Bioscience Inc.
- Fraunhofer IME.
Recent Strategic Moves & Developments of Competitors: https://www.researchdive.com/purchase-enquiry/150
These players are actively involved in activities such as merges & collaborations, partnerships, and new product developments for obtaining a strong position in the global market.
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