Plant-based vaccines have advantages over traditional egg-based or mammalian cell-based vaccine production platforms as they reduce production costs, ease scalability, mitigate risks of contamination, and ensure a reliable supply chain. Plant expression systems allow for rapid, high-volume, and low-cost production of vaccines against various infectious diseases such as influenza, HIV, Ebola, and SARS-CoV-2.
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 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends fueling the growth of the plant-based vaccines market is the rising demand for sustainable and effective vaccine production platforms. Traditional vaccine production methods utilize egg-based and mammalian cell-based platforms that have limitations such as potential contamination, long production timelines, and constrained scalability. In contrast, plant-based expression systems provide certain advantages such as reduced production costs, rapid scalability to meet surge in demand, environmental friendliness, lack of mammalian pathogens, and ability to produce vaccines for diseases lacking traditional options. This has prompted researchers and vaccine manufacturers to increasingly invest in plant-based platforms for development and production of diverse vaccines.
Segment Analysis
The global plant-based vaccines market is dominated by the recombinant vaccines segment. Recombinant vaccines utilize molecular cloning techniques to produce specific portions of pathogenic viruses or bacteria as antigens in plant systems. This sub-segment currently holds the largest market share due to the low-cost production and efficient scalability offered by plant-based expression systems for recombinant antigen production.
Key Takeaways
The Global Plant-Based Vaccines Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. 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 7.0% over the forecast period 2023 to 2030.
North America currently dominates the global plant-based vaccines market due to extensive research activities and presence of key market players in the region. The region is estimated to maintain its dominance over the forecast period as well.
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).
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