Plant-based vaccines represent an innovative class of preventive medicines that use plants as bioreactors for production of target vaccine candidates against infectious pathogens. Plant-based vaccines utilize edible plant-based expression systems to manufacture vaccine antigens that mimic infection by disease-causing microbes like viruses or bacteria, which then stimulates the immune system and protects the body against future exposures. Some of the key advantages of plant-based vaccines include low-cost large-scale manufacturing, thermostability without requiring cold-chain for storage and transport, ease of oral administration, and potential for multivalent vaccine development. The growing prevalence of infectious diseases and rising need for cost-effective vaccines are driving the demand for plant-based vaccines across the world.
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 Opportunity:
Preventing Infectious Diseases
The opportunity for using plant-based vaccines for preventing infectious diseases is a major driver for the market growth. Infectious diseases like influenza, malaria, dengue, Ebola etc. have high socio-economic burden across developing and developed countries alike. Oral delivery of plant-based vaccines could remove barriers associated with injectable vaccines especially in remote locations with poor healthcare access. Plant-based production platform offers potential to develop low-cost multivalent vaccines which can protect against multiple infectious agents simultaneously. This is a major unmet need for communities plagued by co-infections. If successfully deployed, plant-based vaccines can play a role in reducing disease burden of infectious diseases globally and foster prevention healthcare in resource-constrained settings.
Porter’s Analysis
Threat of new entrants: The plant-based vaccine market requires high R&D investment and regulatory approvals which poses a barrier for new companies.
Bargaining power of buyers: Individual consumers have low bargaining power but large pharmaceutical companies and governments have significant bargaining power as bulk buyers.
Bargaining power of suppliers: A few key input suppliers for this market exist which gives them some bargaining power over players in the market.
Threat of new substitutes: New alternative vaccine production methods can potentially substitute plant-based vaccines.
Competitive rivalry: Intense competition exists among existing players to develop novel plant-based vaccine candidates.
SWOT Analysis
Strength: Plant-based vaccines allow for faster production at lower costs compared to egg-based or cell-based methods. They enable passive immunization and prolonged antigen expression.
Weakness: Regulatory approvals for new plant-made vaccine products is complex and time-consuming. Low awareness and acceptance challenges currently exist.
Opportunity: Increasing focus on pandemic preparedness drives opportunities. Growing biologics market opens up new application areas.
Threats: Safety concerns if not produced under good manufacturing practices. Dependence on agricultural conditions impact supply reliability.
Key Takeaways
The Global Plant-Based Vaccines Market Size is expected to witness high growth. 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.
North America currently dominates due to presence of major players and increasing government support for vaccine research. Asia Pacific is expected to grow at fastest pace due to rising immunization programs, low vaccine coverage and bulk-drug production capabilities in major economies.
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). Recently, many players are focusing on clinical development of their vaccine candidates and expanding manufacturing facilities to cater to growing demand.
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