How Has the Plant-Based Vaccines Market Evolved Historically and What is its Current Size?
The plant-based vaccines market has seen considerable growth due to a variety of factors.
•The size of the plant-based vaccines market has seen a significant expansion lately. The market is projected to surge from $1.66 billion in 2024 to $1.83 billion in 2025, with a compound annual growth rate (CAGR) of 10.2%.
Factors contributing to this historical growth consist of challenges related to conventional vaccine production, the requirement for cost-efficient vaccine manufacturing, the rise of plant molecular farming, decreased allergenic potential, and the application of synthetic biology.
What is the Forecasted Market Size and CAGR for the Plant-Based Vaccines Market?
The plant-based vaccines market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, a rapid expansion is anticipated for the plant-based vaccines market, anticipated to reach $2.79 billion in 2029 with a compound annual growth rate (CAGR) of 11.1%.
This growth during the forecast period can be credited to readiness for potential pandemics, ensuring global health security, the broadening of vaccine uses, and adoption by the pharmaceutical industry. Key trends expected throughout the forecast period consist of advancements in plant biotechnology, commitment to environmental sustainability, the incorporation of artificial intelligence, and machine learning integration.
What Are The Primary Growth Drivers In The Plant-Based Vaccines Market?
The surge in infectious diseases is predicted to fuel the expansion of the plant-based vaccine market. These diseases are caused by pathogenic microorganisms including bacteria, viruses, fungi, or parasites. Plant-based vaccines have a role in both conventional and contemporary medicine to treat various health problems, particularly infectious diseases. They offer a reliable, efficient, stable, and cost-effective option for preventative measures, vaccines, and treatments. For instance, the Global Tuberculosis Report released by the Switzerland-based World Health Organization in October 2022 showed an estimated global TB incidence of 10.6 million cases, translating to 134 cases per 100,000 individuals. The majority of these cases, about 45%, were reported in the Southeast Asia region, followed by Africa reporting 23% of the cases. Consequently, the escalating prevalence of infectious diseases is stimulating the growth of the plant-based vaccine market.
What Is The Segmentation Of The Global Plant-Based Vaccines Market?
The plant-based vaccines market covered in this report is segmented –
1) By Vaccine Type: Bacterial Vaccines, Viral Vaccines, Parasite Vaccines, Other Vaccine Types
2) By Source: Tobacco Plant, Maize, Potato, Other Sources
3) By Application: Influenza, Zika Virus, Ebola Virus, Poultry Disease, Other Applications
Subsegments:
1) By Bacterial Vaccines: Recombinant Bacterial Vaccines, Conjugate Bacterial Vaccines, DNA-Based Bacterial Vaccines
2) By Viral Vaccines: Inactivated Viral Vaccines, Live Attenuated Viral Vaccines, Subunit Viral Vaccines
3) By Parasite Vaccines: Recombinant Parasite Vaccines, DNA-Based Parasite Vaccines
4) By Other Vaccine Types: Fungal Vaccines, Multivalent Vaccines, Toxin-Based Vaccines
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What Emerging Trends Are Shaping The Plant-Based Vaccines Market Landscape?
In the plant-based vaccine market, a dominant trend that's gaining traction is product innovation. Leading companies in this sector are concentrating on creating novel products to maintain their market standing. For example, Medicago Inc., a biopharmaceutical company based in Canada, and GSK PLC, a biotechnology and pharmaceutical firm based in the UK, announced in February 2022 that Health Canada had lent its approval to COVIFENZ, a vaccine for COVID-19. This vaccine, COVIFENZ, is the first plant-based vaccine using virus-like particles (VLPs) that are recombinant and adjuvanted, developed specifically for COVID-19. The vaccine uses a technique involving COVID-19-like particles (CoVLP), and it consists of recombinant spike (S) glycoproteins that are produced as virus-like particles (VLPs).
Who Are the Key Players in the Plant-Based Vaccines Market?
Major companies operating in the plant-based vaccines market include:
• Sanofi Pasteur SA
• GlaxoSmithKline plc.
• British American Tobacco PLC
• ICON Plc.
• Agenus Inc.
• Medicago Inc.
• Panacea Biotec Limited
• Creative Biolabs Inc.
• InVitria
• Fraunhofer USA Inc.
• Biodextris Inc.
• Intravacc B.V
• Avesthagen Limited
• Calyxt Inc.
• Zyus Life Sciences Inc.
• Mapp Biopharmaceutical Inc.
• Kentucky BioProcessing Inc.
• Planet Biotechnology Inc.
• Icon Genetics GmbH
• PlantForm Corporation
• LenioBio GmbH
• iBio Inc.
• Lumen Bioscience Inc.
• Baiya Phytopharm Co. Ltd.
• Greenovation Biotech GmbH
• Pevion Biotech AG
What are the Regional Insights into the Plant-Based Vaccines Market?
North America was the largest region in the plant-based vaccines market in 2024. The regions covered in the plant-based vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
