By the end of 2022, the Plant Derived Proteins Market is anticipated to earn US$ 105 million. According to a thorough analysis by Future Market Insights (FMI), sales in the global market for plant-derived proteins are anticipated to reach US$ 184.3 million by 2029, rising at a stunning CAGR of 8.4%.
The creation and distribution of biopharmaceutical proteins with enhanced therapeutic efficacy has continued to grow the market for proteins from plants. The market for plant-derived proteins will expand significantly by 2029, reaching a value of over US$ 185 million, according a recent Future Market Insights (FMI) report.
The three main therapeutic protein classes, which include antibodies, vaccines, and replacement proteins like albumin, insulin, growth factors, and cytokines, will continue to be the industry’s primary focus. Proteins produced from plant cells are acknowledged as being more natural and environmentally sustainable than those produced from microbial and mammalian cells. These benefits have led to an increase in the demand for these proteins from biopharmaceutical companies as raw materials for the production of therapeutic medications, creating a sizable opportunity for the market expansion for proteins produced from plants.
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Key Takeaways of Plant Derived Proteins Market Study
- The production of therapeutic proteins for disease treatment will gain traction, contributing more than 70% to global market revenues in 2029.
- Owing to low setup cost, transient plant expression systems (carrot or tobacco) remains preferred among protein manufacturers.
- Regenerative medicine-therapeutic agents continue to be the leading application area, on the back of their relatively cheap price point.
- Biopharmaceutical companies represent the leading consumer industry of plant derived proteins, with over 50% share in market throughout the forecast period.
- North America continues to lead, whereas East Asia holds the promise of lucrative opportunities, owing to several healthcare programs.
Acquisition Key Strategy Followed by Leading Market Players
Leading manufacturers in the plant derived proteins market are focusing on regional acquisition strategy to enhance their product portfolio and expand their regional presence. For instance, in 2017, Denka buys pharming pioneer Icon Genetics, which is a leading manufacturers of therapeutic proteins in plants. In 2014, Kentucky BioProcessing, Inc. was acquired by Reynolds American Inc., which is a wholly owned subsidiary of tobacco manufacturing company British American Tobacco plc.
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Interested in more insights on the build-up of plant derived proteins market?
Plant derived proteins market, a new study from future market insights, opines on the production of plant derived proteins from 2014 – 2018 and presents demand projections from 2019 – 2029 on the basis of; plant type (tobacco, carrot, rice, barley and others), protein type (industrial proteins & enzymes, therapeutic proteins cell culture functional proteins and others), application (regenerative medicine-therapeutic agents, regenerative medicine-functional material, cell culture application and others), platform (in-vitro culture system, whole plants and others) and end user (biopharmaceutical companies, academic & research institutes, contract research organization (CROS), contract manufacturing organization (CMOS)) across seven prominent regions.
The global plant derived proteins market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Key Companies Profiled
- Amgen Inc
- Abbott Laboratories
- AstraZeneca
- Merck KGaA
- Baxter International
- Boehringer Ingelheim
- Chugai Pharmaceutical
- Diasome Pharmaceuticals
- Eli Lilly & Company
- Protalix Biotherapeutic
- F. Hoffmann-La Roche
- Generex Biotechnology
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Plant Derived Proteins Market by Category
Plant
- Tobacco
- Rice
- Carrot
- Barley
- Others
Protein
- Industrial Proteins& Enzymes
- Therapeutic Proteins
- Blood Proteins
- Cell Culture Functional Proteins
- Others
Platform
- In-vitro Cell Culture Systems
- Whole Plants
- Others
Application
- Regenerative Medicine-Therapeutic Agents
- Regenerative Medicine-Functional Material
- Cell Culture Application
- Others
End User
- Biopharmaceutical Companies
- Academic & Research Institutes
- Contract Research Organization (CROs)
- Contract Manufacturing Organization (CMOs)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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