February 24, 2024
Plant-based Vaccines Market

Plant-based Vaccines Market is Estimated to Witness High Growth Owing to Increasing Focus on Developing Sustainable Vaccines

Plant-based vaccines are produced using plants as bioreactors which allow large quantities of edible vaccines or vaccine antigens to be produced in short time periods and at lower costs as compared to conventional production methods. These vaccines are administered orally which eliminates the need for trained healthcare professionals for administration. The advantages include stability at different environmental conditions and lack of need for cold chain logistics. The need for developing sustainable options for vaccine production and distribution is driving increased research and development of plant-based vaccines.

The Global Plant-based Vaccines Market is estimated to be valued at US$ 113.12 Bn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Plant-based Vaccines 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., Planform Corporation, and Infectious Disease Research Institute (IDRI).

The key opportunities in the plant-based vaccines market include developing new plant platforms suitable for production of complex vaccines and drug candidates. There is also opportunity to expand the product pipeline beyond influenza to other infectious diseases like HIV, Ebola, hepatitis, anthrax etc. Development of biopharmaceuticals and molecular farming using plants also presents lucrative opportunities.

Globally, adoption of plant-based vaccines is increasing in regions like North America and Europe due to strong R&D focus of players in these regions. However, Asia Pacific region is expected to witness fastest growth owing to initiatives by governments in countries like India to develop indigenous vaccine capabilities as well as large patient population.

Market drivers

The increasing focus on developing sustainable and scalable options for vaccine production at lower costs is a key driver for plant-based vaccines market. These vaccines can be easily stored and distributed without strict cold chain requirements, expanding their reach especially in developing regions of the world. Furthermore, plant-based production platforms allow for rapid development of vaccines during disease outbreaks and pandemics. This helps address the need for stockpiling large vaccine quantities in short time periods.

PEST Analysis

Political: Governments support the development of Plant-Based Vaccines Market Growth due to their safe and affordable nature. The U.S. FDA ensures regulatory guidelines are followed during development and production.

Economic: Cost-effective production methods and thermostability reduce the economic burden of vaccination programs, especially in developing countries. The potential to treat pandemics boosts economic preparedness.

Social: Since they resemble natural produce, plant-based vaccines face less resistance. Mass vaccination drives gain public support due to minimally invasive delivery and the lack of preservatives or additives.

Technological: Advances in viral vector design and plant molecular farming have increased yields and stability. Non-edible plant species and transient expression platforms speed up development and scale-up. Oral delivery significantly improves accessibility in remote locations lacking infrastructure.

Geographical regions with high market value concentration:

North America dominates due to presence of major players and government funding for research. Considerable R&D expenditure in the U.S. and Canada propels new product approvals.

Fastest growing region:

Asia Pacific is anticipated to exhibit the fastest growth over the forecast period. Rising infectious disease incidence, a large population base and improvements in healthcare access across China, India and Southeast Asian economies are key growth determinants. Growing partnerships between international organizations, governments and local manufacturers also support regional market expansion.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it