Vaccines of Tomorrow: Innovations in Plant-Based Immunization

"The Business Research Company recently released a comprehensive report on the Global Plant-Based Vaccines Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The plant-based vaccines market size has grown rapidly in recent years. It will grow from $1.52 billion in 2023 to $1.68 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to traditional vaccine production challenges, need for cost-effective vaccine production, emergence of plant molecular farming, reduced allergenic potential, synthetic biology applications.

The plant-based vaccines market size is expected to see rapid growth in the next few years. It will grow to $2.5 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to pandemic preparedness, global health security, expansion of vaccine applications, pharmaceutical industry adoption, . Major trends in the forecast period include technological advancements in plant biotechnology, environmental sustainability, integration of artificial intelligence, integration of ml.

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Market Drivers and Trends:

The high prevalence of infectious diseases is expected to propel the growth of the plant-based vaccine market going forward. Infectious diseases refer to ailments from germs like bacteria, viruses, fungi, or parasites. Plant-based vaccines, employed in traditional and modern medicine for various illnesses, including infectious diseases, can create secure, effective, stable, and reasonably priced prophylactics, vaccines, and medications. For instance, in October 2022, according to the Global Tuberculosis Report published by the World Health Organization, a Switzerland-based global health agency, the global incidence of tuberculosis (TB) was estimated at 10.6 million cases, with a rate of 134 cases per 100,000 population. TB cases were reported in the Southeast Asia region, accounting for 45% of the total, followed by Africa with 23% of the cases. Therefore, the high prevalence of infectious diseases is driving the growth of the plant-based vaccine market.

Product innovation is a key trend gaining popularity in the plant-based vaccine market. Major companies operating in the plant-based vaccine market are focused on developing innovative products to sustain their position in the market. For instance, in February 2022, Medicago Inc., a Canada-based biopharmaceutical company, and GSK PLC, a UK-based pharmaceutical and biotechnology company, announced that Health Canada had approved COVIFENZ, the COVID-19 vaccine. COVIFENZ, the COVID-19 vaccine, is the first plant-based virus-like particles [VLP], recombinant, adjuvanted vaccine available for coronavirus disease. COVIFENZ uses the coronavirus-like particle (CoVLP) technology. The vaccine comprises recombinant spike (S) glycoproteins produced as virus-like particles (VLPs).

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Major Key Players of the Market:

Sanofi Pasteur SA, GlaxoSmithKline plc., British American Tobacco PLC, ICON Plc., Agenus Inc., Medicago Inc., Panacea Biotec Limited, Creative Biolabs Inc., InVitria, Fraunhofer USA Inc., Biodextris Inc., Intravacc B.V, Avesthagen Limited, Calyxt Inc., Zyus Life Sciences Inc., Mapp Biopharmaceutical Inc., Entos Pharmaceuticals Inc., Kentucky BioProcessing Inc., Planet Biotechnology Inc., Icon Genetics GmbH, PlantForm Corporation, LenioBio GmbH, Synbiotic Health Inc., Altimmune Inc., Oramed Pharmaceuticals Inc., iBio Inc., Lumen Bioscience Inc., Baiya Phytopharm Co. Ltd., Greenovation Biotech GmbH, Pevion Biotech AG

Plant-Based Vaccines Market 2024 Key Insights:

• The plant-based vaccines market size is expected to see rapid growth in the next few years. It will grow to $2.5 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• Increased Prevalence Of Infectious Diseases Fuels Growth In The Plant-Based Vaccine Market
• Key Players Pioneering Plant-Based Covid-19 Vaccine Innovation To Sustain Their Position In The Market
• North America was the largest region in the plant-based vaccines market in 2023

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This release was published on openPR.