The market size of the Global Plant-Based Vaccines Market in the year 2021 is valued at 1.27 billion and is predicted to reach 2.52 billion by the year 2030 at an 8.07% CAGR during the forecast period of 2022-30. A vital ingredient in the creation of accessible vaccination derivatives is planted life. Plant-based vaccine production reduces the financial burden of infectious diseases in developing countries because of its large production volume and low cost. Numerous clinical trials focus on developing plant-based oral vaccines for therapeutic indications such as influenza, dengue fever, the flu, and the Ebola virus. By avoiding the use of syringes and needles, these immunizations can be given orally, freeing up medical staff for other tasks and reducing the risk of hospitals acquired infections. Due to rising public awareness of these vaccines' benefits and the global spread of infectious diseases, the market for plant-based vaccines is predicted to experience considerable growth during the projection. Plant-based vaccines are also less expensive and do not require cold-chain shipping. They are easy to store, and adding more space for production is straightforward. The market for vaccines made from plants is expected to grow. To develop plant-based vaccines for various medical applications, the existing and future market participants for plant-based vaccines are concentrating on rigorous clinical practice assessments.
Furthermore, shortly, it was anticipated that the inadequacies, potential for contamination, and environmental issues would restrain the expansion of the global market for plant-based biologics. Pollen can harm non-transgenic harvests, a part of the conventional agricultural exhibition. Pollen contamination incidents in field crop-based Plant Molecular Farming (PMF) outlets, such as those based on maize or rice, expand biosafety situations. Creating recombinant pharmaceutical combinations is now strictly prohibited by U.S. FDA regulations.
The plant-based vaccines market is segmented on the type, application and source. Based on type, the market is segmented into viral vaccines, bacterial vaccines and others. Based on application, the plant-based vaccines market is segmented into influenza, zika virus, ebola virus and others. Based on source, the plant-based vaccines market is segmented into maize, tobacco, potatoes and others.
Based on type, the viral vaccines segment is accounted as a major contributor to the plant-based vaccines market.
Based on type, the market is segmented into viral vaccines, bacterial vaccines and others. The viral vaccines category grabbed the highest revenue share, and it is anticipated that it will continue to hold that position during the anticipated time. Numerous studies have shown that transgenic plants can appropriately translate and digest bacterial toxin components and viral epitopes. Recombinant proteins activate immune responses and provide increased safety, economy, stability, adaptability, and efficacy compared to current vaccine technologies, leading to a larger market share.
The influenza segment witnessed growth at a rapid rate.
Based on application, the plant-based vaccines market is segmented into influenza, zika virus, ebola virus and others. The influenza category is anticipated to grow significantly over the forecast period. The influenza virus brings on a form of respiratory infection called influenza. Spreading is simple. To protect people against influenza, several market participants in the plant-based vaccination space are working to create precise and potent vaccine candidates.
A prime example is the quadrivalent influenza vaccine (QIV) from Medicago. Health authorities are presently evaluating the vaccine, which promotes a well-balanced cellular and antibody immune response and is effective against various influenza viruses. The market for plant-based vaccines will have strong growth potential thanks to similar discoveries.
The North American plant-based vaccines market holds a significant regional revenue share.
The North American plant-based vaccines market is expected to register the highest market share in revenue shortly due to the development of new byproducts. The rising prevalence of influenza conditions in the local market and the expansion of several private and public research organizations dedicated to R&D activities for the development of plant-based vaccines, a massive industrial base, a strong consumer base with high purchasing power, particularly in developed nations like the U.S. and Canada, are other factors contributing to the expansion. Additionally, the Asia Pacific is anticipated to expand significantly over the forecast period due to the rise in infectious disease cases brought on by the climate of the region and the growing popularity of plant-based vaccines over conventional vaccines among the general public.
Some major key players in the plant-based vaccines market are Creative Biolabs, Medicago Inc., iBio, ICON, EEA Consulting Engineers, Kentucky BioProcessing, Inc., Baiya Phytopharm and Protalix Biotherapeutics.