Press release
Remote diagnostic platforms to simulate the Plant-based Vaccines Market at a CAGR of 7.8%
Worldwide revenue from the plant-based vaccines market was US$ 1.3 Bn in 2021, with the global market estimated to surge ahead at a CAGR of 7.8% to top a valuation of US$ 3 Bn by the end of 2032.As assessed by Persistence Market Research, viral vaccines accounted for a market value of around US$ 694.7 Mn in 2021. Overall, plant-based vaccine sales accounted for approximately 3.4% of revenue share in the global recombinant vaccines market, which was valued at around US$ 38.1 Bn in 2021.
The global market for plant-based vaccines recorded a historic CAGR of 5.6% in the last 9 years from 2012 to 2021. Vaccines stimulate antibody synthesis in humans and animals, providing immunological protection against a variety of diseases. However, the lack of vaccines for the treatment of deadly diseases has posed concerns and directed global focus toward the development of safer, simpler, and more efficient vaccines.
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Currently the only plant-based vaccine approved is that for Newcastle disease vaccine for poultry. Although, plant-based vaccines are not quite ready for humans in the primetime, there are a number of clinical trials ongoing. Research in plant-based vaccine for influenza has seen some success in the past few years probably because the haemagglutinin (HA) protein can be well expressed in plants and can undergo proper post translational folding.
Plant-based vaccines have several advantages including cheap and large scale production, readily accepted by patients and stable for long term storage of the antigen. Plant-based vaccines could be one of the best methods for reducing the burden of infectious diseases globally.
Additionally, unlike traditional vaccines, plant-based vaccines contamination with plant virus would have a negligible likelihood of adverse effect on humans. The positives of plant-based vaccines are outweighed by the negative factors such as allergic reactions, and risk of escaping the lab resulting in unforeseen consequences that may hinder the approval and growth of the plant-based vaccines market.
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COMPANIES:
Creative Biolabs
Medicago Inc.
iBio
ICON
EEA Consulting Engineers
Kentucky BioProcessing, Inc.
Baiya Phytopharm
Protalix Biotherapeutics
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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