Manufacturers in the plant-based vaccines market are adopting developmental strategies such as product launch and mergers & acquisitions to sustain the competitive environment in the market. For instance, in April 2021, HotHouse BioEngineering and Leaf Expression Systems signed Plant-Based Expression License Agreement. Similarly, In July 2020, Medicago reached an agreement to supply the Government of Canada with its vaccine against COVID-19, subject to Health Canada approval. Medicago also received $173M in funding support from the Government of Canada for its vaccine research and development.
Creative Biolabs Inc. and Icon Genetics GmbH (Denka) – are Notable Market Players in Plant-based Vaccines Market
The plant-based vaccines manufacturers across the world are focused on the production of plant-based vaccine for treatment of Covid-19. Their involvement in research and development and product innovations helps ensure the cost-effective, low time consuming and easy availability of vaccines in the regional and global markets. Moreover, the governments are providing the required support through funds allocation and permissions.
The plant-based vaccines market majorly consists of the players such as 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 amongst others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches and product approvals. Whereas, the inorganic strategies such as mergers & acquisitions and collaborations, were widely seen in the plant-based vaccines market.
Several organic approaches, such as product launches, and expansion in the plant-based vaccines market, have resulted in the positive growth of the market. Likewise, inorganic strategies such as mergers & acquisitions, and collaboration have help the company to strengthen its revenue, which allows the company to hold a strong position in the market.
Below is the list of the growth strategies adopted by the players operating in the plant-based vaccines market:
| YEAR | NEWS |
| Apr-2021 | HotHouse BioEngineering and Leaf Expression Systems sign Plant-Based Expression License Agreement. By using Leaf’s Hypertans technology HHBE aims to produce non-protein secondary metabolites through the assembly and manipulation of multi-enzyme biosynthetic pathways. |
| Jul-2020 | Medicago reached an agreement to supply the Government of Canada with its vaccine against COVID-19, subject to Health Canada approval. Medicago will also receive $173M in funding support from the Government of Canada for its vaccine research and development, and for the construction of its Quebec City manufacturing facility. Medicago’s innovative plant-based platform is being used to develop and, upon regulatory approval, produce vaccines. |
| Jul-2020 | Zyus Life Sciences Inc. announced a positive milestone in the development of COVID-19 vaccine components by attaining plant-based expression, isolation, and purification of a potential antigen for a SARS-CoV-2 vaccine – providing evidence of concept for plant-based COVID-19 antigen production. |
