Biopharming, using genetically modified plants to produce pharmaceutical compounds, has emerged as a promising approach in biotechnology. This paper explores the current state of biopharming, highlighting recent advancements, challenges, and prospects. The medical database search was conducted to obtain all epidemiological studies of the past two decades between 2000 and 2024. The review considers several advantages of plant-based systems against the microbial and mammalian cell cultures that are expensive, challenging to scale up and prone to pathogen invasion. Some biopharming plant species are explained in the particular area or study: Nicotiana benthamiana, Oryza sativa, and Lactuca sativa. Furthermore, the paper addresses the challenges of overviewing the regulatory barriers to plant-made pharmaceuticals, as well as the major ethical issues arising from the commercialization of the technology. The following broad research proposal is intended to shed light on the opportunities of biopharming to change the current state of the pharmaceutical industry and meet the global demand for drugs.