The Plant based vaccines market size is projected to reach US$ 3.96 billion by 2031 from US$ 1.44 billion in 2023. The market is expected to register a CAGR of 13.5% during 2023–2031. Increasing product launches and product approvals are likely to remain key trends in the market.
Increasing number of research and development activities in plant-based vaccines leads to product approval and launches along with growing prevalence of infectious disease is expected to drive the growth of plant-based vaccines market. Moreover, increasing fundings and technological advancement in research activities is expected to contribute the market growth. Moreover, advancement in product of plant-based vaccines such as Gene transfer by agrobacterium and transformation via a genetically engineered plant virus are two typical approaches for producing efficient vaccines is expected to create ample opportunities in the coming years.
Increasing number of research and development activities in plant-based vaccines leads to product approval and launches along with growing prevalence of infectious disease is expected to drive the growth of plant-based vaccines market. Moreover, North America accounts for the major market share in 2023 owing to the rising number of product launch, product approval along with the spur in research and development activities. Europe is second largest region after North America and Asia Pacific is expected to register significant growth rate owing to the rising development of research studies and the increasing prevalence of infectious diseases that have skyrocketed the need for the plant-based vaccines market. The countries such as Australia, India, and South Korea are estimated to serve various growth opportunities due to the rising development in the pharmaceutical sector are the factors contributing to the market growth.
You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities
Plant Based Vaccines Market: Strategic Insights
The rising prevalence of infectious diseases such as COVID-19, influenza, the common cold, tuberculosis (TB), hepatitis A and B is expected to flourish the demand for plant-based vaccines during the forecast period. On December 31, 2019, a COVID-19 case was first detected in Wuhan, China. On March 11, 2020, the World Health Organization proclaimed COVID-19 a pandemic. COVID-19's rapid proliferation is posing a challenge to the healthcare systems around the world. Hospitals and intensive care units (ICUs) in many nations are overburdened or on the verge of collapsing. As a result, the most efficient use of healthcare resources is required. With limited access to breathing equipment, skilled critical care employees, or protected patient monitoring systems, healthcare providers are compelled to treat extremely ill patients. The endeavor to keep COVID-19 patients from deteriorating and being admitted to the ICU is enormous. To slow the spread of the SARS-CoV-2 virus and prevent future outbreaks, the need for new diagnostics, treatments, and vaccinations is high.
Various approaches are used to integrate the desired genes encoding the antigen protein for a given illness into the genome of plant tissues in plant-based vaccination technology. Gene transfer by agrobacterium and transformation via a genetically engineered plant virus are two typical approaches for producing efficient vaccines. However, as science and technology have progressed, new approaches have been created to improve the efficiency of older technologies, including biolistic, electroporation, agroinfiltration, sonication, and polyethylene glycol treatment. When microbial genes are incorporated into the plant genome, they are translated into target pathogen protein antigens without harming the plant or losing their immunogenicity. The systemic and mucosal immune responses are involved in initiating host immunity against the infection. Some vaccinations, such as cholera, Lyme disease, anthrax, tetanus, plague, rotavirus, and canine parvovirus, are made using direct bombardment or biolistic methods. Tuberculosis, dengue, avian flu, and Ebola vaccines have been developed using indirect methods or Agrobacterium-mediated gene transfer.
Key segments that contributed to the derivation of the Plant based vaccines market analysis are vaccine type, source, and application.
The geographic scope of the Plant based vaccines market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the market owing to the rising number of product launch along with the spur in research and development activities. However, during the forecast period the market is likely to get restrained by the factors such as challenges associated with the product approval, and the contamination and environmental risks for manufacturing plant-based vaccines. The US is the largest market for plant-based vaccines at a global level. The market's growth is attributed to the enormous number of R&D activities in the field of plant-based vaccines carried out in the country. The rising prevalence of infectious diseases in this region is anticipated to flourish the demand for plant-based vaccines. Infections such as viral hepatitis, influenza, and tuberculosis (TB) continue to be among the major causes of disease and death in the United States, resulting in significant spending on infection-related complications. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Plant Based Vaccines Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Plant Based Vaccines Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 1.44 Billion |
| Market Size by 2031 | US$ 3.96 Billion |
| Global CAGR (2023 - 2031) | 13.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Vaccine Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Plant Based Vaccines Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Plant Based Vaccines Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The Plant based vaccines market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Plant based vaccines market are listed below:
The “Plant Based Vaccines Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
North America region dominated the Plant based vaccines market in 2023
Increasing number of research and development activities in plant-based vaccines leads to product approval and launches along with growing prevalence of infectious disease are the driving factors impacting the Plant based vaccines market
Increasing product launches and product approvals are the future trends of the Plant based vaccines market
The leading players operating in the Plant based vaccines market includes MEDICAGO, INC., British American Tobacco p.l.c., ICON GENETICS GMBH, CREATIVE BIOLABS, INC., iBio, Inc., LENIOBIO, Lumen Bioscience, Inc., LEAF EXPRESSION SYSTEMS LTD., ZYUS LIFE SCIENCES INC., FRAUNHOFER CMB
The estimated value of the Plant based vaccines market by 2031 is US$ 3.96 Bn
The expected CAGR of the Plant based vaccines market is 13.5%