Plant-based vaccines are produced using plant technologies and involve growing vaccine antigens in plant leaf, fruit or root tissues. They offer advantages such as low-cost production, easy scalability, thermostability without refrigeration and ability to deliver edible vaccines. The growing need for more sustainable and eco-friendly alternatives to traditional egg-based and mammalian cell culture-based vaccines production is fueling demand for plant-based vaccines.
The global Plant-based vaccine market is estimated to be valued at US$ 98.19 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for sustainable alternatives is one of the key trends driving the plant-based vaccines market. Plant-based production of vaccines is more sustainable and environment-friendly compared to traditional methods as it reduces carbon footprint and does not require large livestock or cell culture facilities. It also allows for rapid, scalable and cost-effective production of vaccines. With rising awareness about issues like climate change, more consumers and governments are favoring sustainable options. This increasing preference for greener alternatives is expected to boost the plant-based vaccines market substantially over the forecast period.
Segment Analysis
The global Plant-Based Vaccines Market Share is segmented into plant-based production platforms, disease indications, and end users. The plant-based production platforms segment is further divided into tobacco plants, maize, tomato, potato, moss bioreactor, and others. The tobacco plants segment currently dominates the market as it provides low-cost, rapid and large-scale production of vaccine antigens. Tobacco plants are well suited for recombinant protein production as they can express and correctly fold therapeutic complex proteins.
Key Takeaways
The global plant-based vaccines market is expected to witness high growth. The market size is projected to reach US$ 198.37 Mn by 2030, expanding at a CAGR of 9.6% during the forecast period.
Regional analysis: North America currently dominates the global market and is expected to maintain its position over the forecast period. This is attributed to growing R&D funding and clinical trials of plant-based vaccines in the US. Europe is the second largest regional market supported by government initiatives promoting vaccine research. Asia Pacific is expected to be the fastest growing regional market due to rising incidence of infectious diseases and increasing healthcare expenditure in countries such as China and India.
Key players: Key players operating in the plant-based vaccines market are Medicago, Inc., IBIO, Inc., Icon Genetics GmbH, Lumen Bioscience, Inc., British American Tobacco Plc., Creative Biolabs, Inc., Leaf Expression Systems Ltd., ZYUS Life Sciences Inc., PlantForm Corporation, and Infectious Disease Research Institute (IDRI). Medicago Inc. currently leads the market with its advanced plant-based vaccine candidates in clinical trials. IBIO Inc. is another major player conducting research on plant-made biologics.
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