Plant-based vaccines are an emerging and innovative technology for producing safer and more effective vaccines using plants. Vaccines produced using this technology have significant advantages over traditionally produced vaccines such as ease of scalability, lower production costs, easier stockpiling and transport under ambient conditions without requiring refrigeration. They avoid issues with egg or cell culture-based production platforms related to supply vulnerabilities.

The global Plant-based Vaccines 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:

Increasing demand for sustainable and plant-based vaccine alternatives free from issues of traditional vaccine production methods has accelerated market growth. Concerns around dependence on egg supply for flu vaccine production and limitations of cell culture-based vaccines have driven research into plant-based production platforms. This has resulted in several biotechnology companies developing plant-made vaccines and conducting clinical trials. Regulatory approval of the first plant-derived vaccine for humans indicates greater acceptance of this technology going forward.

Segment Analysis

The global plant-based vaccines market is dominated by the plant expression systems segment. Plant expression systems allow large-scale production of vaccines at low-cost as plants provide a cost-effective, safe and scalable platform for recombinant protein production. Other segments such as plant cells and whole plants are also emerging however, plant expression systems are preferred due to their ability to produce complex immunogens and self-assemble into particles closely mimicking authentic viruses.

Key Takeaways

The Global Plant-Based Vaccines Market Size is expected to witness high growth over the forecast period supported by increasing demand for therapeutics and research in plant-made pharmaceuticals. The global Plant-based Vaccines 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.

Regions such as North America and Europe currently dominate the market and are expected to continue their dominance owing to strong biotech industry and presence of major pharmaceutical companies supporting R&D in this field. This is attributed to presence of leading companies developing plant-made vaccines in countries such as the US. Furthermore, high healthcare expenditure and government funding for pharmaceutical research also contributes to the region's large market share. Europe is another major market supported by presence of companies such as British American Tobacco and funding agencies promoting plant-based production of biologics.

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. and IBIO, Inc. currently dominate the market with their expertise and commercialization of plant-made vaccines and therapeutics.

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https://www.newsstatix.com/plant-based-vaccines-market-size-share-growth-outlook-2023/