Plant-Based Vaccines Market To Reach Valuation Of US$ 2.34 Bn By 2031: TMR

The global plant-based vaccines market was valued at US$ 1.10 Bn in 2020. It is projected to expand at a CAGR of 7.38% from 2021 to 2031. Plant-based vaccine production primarily involves the integration of transgene into the plant cells. The target sequence of the selected antigen is integrated with the vector before being transferred into the expression system. Oral plant-based vaccines are ideal, as the manufacturing process is simple; no additional medical devices are needed for injection; and the antigen immunogenicity and biological activities are preserved in the gastrointestinal tract due to their natural bioencapsulation in a plant cell organelle.

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In terms of type, the global plant-based vaccines market has been classified into bacterial vaccine, viral vaccine, and others. Based on plant source, the global plant-based vaccines market has been classified into tobacco, potato, and others. In terms of application, the global plant-based vaccines market has been categorized into against infectious agents, anti-cancer, and against autoimmune disorders.

Plant-based Vaccines Market: Prominent Regions

North America held a major share of the global plant-based vaccines market in 2020. Presence of key players and growth strategies adopted by these players are the major factors driving the plant-based vaccines market in the region. Europe accounted for the second-largest share of the global plant-based vaccines market in 2020. The expansion of the market in the region can be attributed to well-developed healthcare sector. The plant-based vaccines market in Asia Pacific is likely to expand at a rapid pace during the forecast period. Technological developments in plant-based vaccines is a major factor that is likely to propel the market in the region.

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Plant-based Vaccines Market: Key Players

Key players are expanding their footprint to consolidate their positions in the global plant-based vaccines market due to lucrative opportunities to increase their share. Hence, manufacturers engage in new development, collaborations, and distribution to gain market share. Leading players operating in the global plant-based vaccines market are Creative Biolabs, Medicago Inc., iBio, Fraunhofer Center for Manufacturing Innovation, ICON, EEA Consulting Engineers, Protalix, and Kentucky BioProcessing, Inc.

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