PORTLAND, OR, April 13, 2023 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, worldwide Plant Based Biologics Market Earned $116.1 million in 2021, and is projected to generate $182.9 million by 2031, revealing a CAGR of 4.8% from 2022 to 2031.. The report provides detailed analysis of market dynamics, key segments, value chains, competitive landscape, and changing regional landscape. This research provides valuable guidance to leading players, investors, shareholders, and startups to formulate strategies for sustainable growth and gain a competitive edge in the market.
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Report coverage and details:
| Report coverage | Details |
| Forecast period | 2022–2031 |
| base year | 2021 |
| Market size in 2021 | $116.1 million |
| Market size in 2031 | $182.9 million |
| CAGR | 4.8% |
| Number of pages in the report | 300 |
| Sections covered | Product type, source, target disease, and region. |
| Drivers | Increase in chronic diseases |
| opportunities | Investment in R&D of smart and unique strategies |
| Restrictions | Plant-based biologics can be difficult to manufacture and commercialize |
Impact of Covid-19 Plant Based Biologics Market:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global plant-based biologics market, as many clinical trials for plant-based biologics were postponed or canceled and the rate of drug research and regulatory approvals slowed down. During the lockdown.
- The Covid-19 pandemic has increased the demand for vaccines, especially those made from plant-based biologics. However, the pandemic highlighted the need for more agile and adaptable production systems that can rapidly respond to emerging infectious diseases.
- The pandemic led to huge investments in plant-based biology research and development. Governments and commercial corporations are investing in the development of new biologics and production methods that are expected to aid in the response to future pandemics and other global health problems.
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The research provides detailed segmentation of the global plant-based biologics market based on product type, source, target disease, and region. The report discusses the segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on product type, the leaf-based segment accounted for the largest share in 2021, accounting for more than two-fifths of the global plant-based biologics market, and is expected to continue its leadership position during the forecast period. However, the seed-based segment is expected to register the highest CAGR of 5.1% from 2022 to 2031.
By source, the tobacco sector accounted for the largest share in 2021, contributing two-fifths of the global plant-based biologics market, and is expected to maintain its leadership in terms of revenue over the forecast period. This segment is expected to reveal the highest CAGR of 5.2% from 2022 to 2031.
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Based on target disease, the Fabry disease segment accounted for the largest share in 2021, holding more than two-fifths of the global plant-based biologics market, and is expected to continue its leadership position during the forecast period. However, the other segment is estimated to grow at the highest CAGR of 5.4% during the forecast period.
On the basis of region, North America accounted for the largest share in 2021, contributing more than two-fifths of the global plant-based biologics market share, and is projected to retain its dominant share in terms of revenue in 2031. Also, the same sector is expected to reveal the fastest CAGR of 5.0% during the forecast period.
Major market players of the global plant-based biologics market analyzed in the research include Leaf Expression Systems, Zea Biosciences, Planet Biotechnology Inc., InVitria, plantform Corporation, IBIO, Inc., Mapp Biopharmaceutical, Inc., Ventria Bioscience Inc., Medicago. Inc., Eleva GmbH.
The report provides a detailed analysis of these key players in the global plant-based biologics market. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, agreements, and others to increase their market share and maintain dominance in various sectors. The report is valuable in highlighting the strategic moves of market players to showcase business performance, operational areas, product portfolios, and competitive landscape.
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Allied Market Research (AMR) is the full-service market research and business-consulting arm of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides unmatched quality of “market research reports” and “business intelligence solutions” to global enterprises as well as medium and small businesses. AMR has a targeted approach to providing business insights and consulting to help its clients take strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals Life ScienceConsumer Goods, Materials & Chemicals, Manufacturing & Manufacturing, Food & Beverage, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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