by Plant-based vaccines are produced using molecular farming methods that enable the expression of vaccine antigens in plants. Vaccine antigens expressed in plants retain their immunogenic properties and initiate protective immune responses when administered. The global plant-based vaccines market offers several advantages over conventional egg-based or animal cell culture methods including fast scalability, low-cost production, thermostability, and oral delivery. Plant viral vectors and chloroplast engineering technologies have advanced plant molecular farming capabilities for producing various subunit vaccines targeting infectious diseases and cancer.
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:
Advancements in plant molecular farming technology is expected to drive the growth of the plant-based vaccines market over the forecast period. Genetic engineering techniques have enabled producing complex vaccine antigens in plants which can self-assemble into virus-like particles that mimic the native conformational structure. This elicits robust immune responses. Additionally, plants provide cost-effective, rapid, and scalable production platforms for biopharmaceuticals. Oral delivery of plant-based vaccines offers needle-free immunization advantages which increase patient compliance especially for pediatric vaccines. These factors are expected to propel the demand for plant-based vaccines.
Segment Analysis
The global plant-based vaccines market is segmented based on source, disease, approach, and end-user. The viral disease vaccine segment currently dominates the market and is expected to continue its dominance during the forecast period. This is due to the increasing research focused on developing plant-based vaccines for viral diseases such as influenza, Ebola, and human papillomavirus.
PEST Analysis
Political: Governments across the globe are increasingly funding research activities focused on developing plant-based vaccines. This is expected to positively influence the market growth.
Economic: The lower production cost of plant-based vaccines compared to traditional vaccines is a major factor fueling their demand. This lower cost facilitates mass vaccination programs in developing nations.
Social: Growing public-private partnerships to develop affordable vaccines for diseases prevalent in low and middle-income countries is boosting the adoption of plant-based vaccines.
Technological: Advances in plant molecular farming and transient expression technologies have enabled increased recombinant protein and antigen production in plants. This is supporting the development of novel plant-based vaccines.
Key Takeaways
The Global Plant-Based Vaccines Market Size is expected to witness high growth during the forecast period of 2023 to 2030. The global Plant-based Vaccines Market is estimated to be valued at US$ 98.19 Mn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030.
Regional analysis indicates North America currently dominates the market due to the presence of major players in the region. However, Asia Pacific is expected to witness the fastest growth on account of the rising initiatives by governments and private organizations focused on affordable mass vaccination programs.
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. currently leads the market and is focused on developing plant-based vaccines for diseases like influenza and COVID-19. IBIO, Inc. specializes in transient plant-based expression technologies and is advancing multiple pipeline candidates.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
