Plant-based vaccines are administered through an edible plant containing antigenic proteins that produce an immune response in the target organism. Plant vaccines are a needle-free alternative for vaccination and offer benefits such as ease of administration, thermostability, and low-cost manufacturing. The use of plant-based vaccines production systems can avoid complex industrial processes required for conventional vaccines while being safe, scalable, and cost-effective.

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:
The increasing focus on plant-based vaccines development is expected to accelerate the growth of the plant-based vaccines market during the forecast period. Research institutes and companies are increasingly investing in plant-based vaccines production platform. For instance, Medicago, Inc. is developing a plant-based vaccine to prevent COVID-19 infection and has initiated several clinical trials. Similarly, Icon Genetics GmbH is working on plant-made vaccines and antibodies against deadly diseases like Ebola, Zika, and malaria virus. The adoption of plant-based platform offers cost-effective and scalable production which is driving the focus on plant-made pharmaceuticals and vaccines development.

Segment Analysis
The global plant-based vaccines market is dominated by the transgenic plant segment. Transgenic plants can be produced quickly and at a large scale using genetic engineering techniques to incorporate vaccine antigens in edible parts like fruits and leaves. This makes them more cost effective compared to other production methods. With rising acceptance of plant-based drugs and vaccine alternatives, transgenic plants are expected to continue dominating the market during the forecast period.

Key Takeaways
The Global Plant-Based Vaccines Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 9.6% during this period and reach a size of US$ 98.19 Mn by 2024.

Regional analysis
North America is currently the dominant region in the plant-based vaccines market. This is primarily due to strong presence of key market players and increasing investments in research and development of plant-based vaccine production technologies by governments and private organizations in the region. Asia Pacific is expected to witness the fastest growth over the coming years driven by rising incidence of infectious diseases and growing biotechnology industry in countries like China and India.

Key Takeaways
The Global Plant-Based Vaccines Market Size is expected to witness high growth over the forecast period driven by increasing R&D and a strong clinical pipeline. 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.

Regional analysis: North America is the largest market for plant-based vaccines currently due to presence of major players like Medicago and IBIO conducting late stage trials. Europe and Asia Pacific markets are growing fast driven by support for innovative vaccine technologies through government grants and partnerships with regional drug developers. China and India offer lower cost destinations for plant-based vaccine development and manufacturing.

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 and IBIO are furthest

 

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