Plant-based vaccines use plants such as tobacco, alfalfa and other edible plants to produce antigens and antibodies that help develop immunity against various diseases. They offer an eco-friendly alternative to traditional egg/cell-based vaccines with benefits such as lower production cost, easier scalability, lack of pathogens and no risk of antibiotic resistance. Plant-based vaccines can be used for both human and veterinary diseases including influenza, hepatitis B, cholera etc.

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 Dynamics: One of the key drivers for the growth of plant-based vaccines market is the rising demand for cost-effective and eco-friendly alternatives to conventional vaccine production methods. Plant-based production of vaccines eliminates the need for expensive infrastructure like containment facilities required for egg/cell-based manufacturing. It also allows for easy scalability of production during disease outbreaks and pandemics. Further, plant-based platforms produce highly stable vaccines that do not require constant refrigeration, thus improving access in remote locations.

SWOT Analysis

Strength: Plant-based vaccines have three main strengths over traditional egg-based or cell-based vaccines. They can be rapidly produced in large quantities since plant biomanufacturing systems enable high-volume production. They reduce production costs as plants don't require expensive infrastructure for cultivation. Being non-animal derived, they minimize risks of contamination from adventitious agents.

Weakness: Public acceptance of edible plant-based vaccines can be limited due to concerns about their long-term safety. There are challenges in developing plant-based vaccine formulations that are stable without refrigeration and easy to administer.

Opportunity: The COVID-19 pandemic has fast-tracked research on plant-based vaccines which can help meet surging demands for vaccines. As traditional methods struggle to scale up, plant platforms present an opportunity to develop affordable vaccines for neglected tropical diseases.

Threats: stringent regulations by health agencies for approving new plant-based vaccine products may delay their market entry. Intellectual property disputes between players on plant-based vaccine technologies can affect segment profitability.

Key Takeaways

The global Plant-Based Vaccines Market Share is expected to witness high growth. Advantages offered over conventional methods and the COVID-19 pandemic have accelerated R&D to develop plant-based vaccines for existing and emerging diseases. 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,

North America currently dominates the market due to presence of major players and growing adoption of plant-based vaccine production platforms. Europe and Asia Pacific are also projected to witness significant increases in market value supported by ongoing clinical research.

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). While Medicago and IBIO have advanced experimental plant-based COVID vaccines, others are engaged in developing candidates for influenza, HIV, and various pathogenic strains. Partnerships between players are helping expand manufacturing capabilities and commercialization of innovative plant-made pharmaceuticals.

Explore more related article on this topic: https://www.pressreleasebulletin.com/global-plant-based-vaccines-market-estimated-to-exhibit-robust-growth/