by Plant-based vaccines are produced by genetically engineering plants to act as bioreactors for the production of vaccine antigens/molecules and adjuvants. They offer sustainable and cost-effective solutions for vaccine production against various infectious diseases like influenza, HIV, Ebola, etc. Plant cell systems allow for rapid, scalable, and low-cost production of vaccine candidates without the need for expensive infrastructure required for bacterial or egg-based vaccines.
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:
Growing awareness about the benefits of plant-based vaccines market over traditional vaccine manufacturing methods has fueled the demand for sustainable healthcare alternatives. Plant-based vaccines offer enhanced scalability, low-cost production, thermostability, and ease of administration which is driving their adoption. Additionally, plant platforms allow for rapid responses to emerging pandemics and can address vaccine accessibility issues, particularly in low- and middle-income countries. These advantages are expected to propel the plant-based vaccines market growth over the forecast period.
SWOT Analysis
Strength: Plant-based vaccines harness the natural ability of plants to produce complex therapeutic proteins. They provide a cost-effective and scalable solution for vaccine production.
Weakness: Regulatory approval is required for each new plant-made vaccine product which delays their commercialization. Their stability needs to be established over long-term storage.
Opportunity: The COVID-19 pandemic has raised awareness about the need for rapidly scalable vaccine production systems. Developing countries can benefit from the low-cost production of plant-based vaccines.
Threats: Conventional vaccine technologies have significant market dominance and preferences. Intellectual property challenges may arise regarding platform technologies for plant-based production.
Key Takeaways
The Global Plant-Based Vaccines Market Size is expected to witness high growth. Being a novel approach, many pipeline candidates are under development which will drive market revenues. Regulatory approvals for plant-made vaccines against HPV, HBV, and influenza indicate commercialization potential.
Regional analysis: North America currently dominates due to ongoing research and development activities. However, Asia Pacific is expected to emerge as the fastest growing market due to the availability of conducive manufacturing environments and low-cost operations in countries like China, India, and South Korea.
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). These players are focusing on advancing their platform technologies and developing new plant-made vaccine candidates.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
