December 6, 2024
Plant-based Vaccines Market

Plant-Based Vaccines Market Is Powered By Growing Focus On Sustainable Medicine

Plant-based vaccines have emerged as one of the important alternatives to traditionally produced vaccines and offer sustainable expression and delivery of vaccine antigens. Plant-based vaccines utilize plants as bioreactors for the production of immunogenic protein antigens that can be used for vaccine formulation. Some key advantages of plant-based vaccines include rapid scalability of production, no threat of pathogenic product contamination, low-cost and adaptability to various vaccine targets. They can express properly folded, naturally glycosylated proteins with assembly into higher-order structures which are important for inducing protective immunity against pathogens.

The global Plant-based Vaccines Market is estimated to be valued at US$ 98.19 Mn in 2024 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 key trends:

One of the key trends driving the plant-based vaccines market is growing focus on sustainable medicine development. Traditional vaccines production relies on energy intensive fermentation processes using bacterial or animal cell cultures. In contrast, plant-based systems provide renewable, sustainable and environment-friendly platform for producing vaccines and biologics. They eliminate the need to establish and maintain costly infrastructure for culture media, controls testing that are essential for conventional manufacturing. Plant expression system also overcomes issues regarding scale-up, consistency and high production costs associated with cell culture. This has prompted increased R&D towards plant-based platforms which can produce vaccines at lower costs in an eco-friendly manner.

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the plant-based vaccines market is low as setting up manufacturing facilities require large capital investments and establishing long-term collaboration with research institutes takes significant amount of time.

Bargaining power of buyers: The bargaining power of buyers in the plant-based vaccines market is moderate as buyers have limited options currently due to smaller number of established manufacturers.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials required are commodities and general laboratory consumables and equipment available from multiple sources globally.

Threat of new substitutes: The threat of substitutes is low as no major substitute exists for vaccines produced through plant-based expression systems.

Competitive rivalry: The competitive rivalry is growing in the plant-based vaccines market as key players are investing significantly in R&D to develop new products.

Key Takeaways

The Global Plant-Based Vaccines Market Size 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 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030.’

Regional analysis: North America is currently dominating the plant-based vaccines market owing to presence of major key players and higher healthcare expenditures. Asia Pacific is expected to grow at the fastest pace during the forecast period.

Key players: 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). Medicago, Inc., IBIO, Inc. are the leading players dominating the market currently.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it 
Ravina
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Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.

Ravina Pandya

Ravina Pandya,  Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.

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