Medical Exoskeleton Market

Plant-based Vaccines Market is Booming Market to Rapidly Growing by 2028

According to our latest study on “Plant-based Vaccines Market Forecast to 2028 – COVID-19 Impact and Analysis – by Vaccine Type, Source, Application, and Geography,” the market is projected to reach US$ 2,672.05 million in 2028 from US$ 1,143.72 million in 2021. The market is estimated to grow at a CAGR of 12.9% from 2021 to 2028. The report highlights the key factors driving the market and prominent players with their developments in the market. The report highlights trends prevailing in the market and the factors driving and restraining the market growth.

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Plants are an important source to produce cost-effective vaccine derivatives. Plant-based vaccines can be made in a cost-effective way and produced on a large scale. Patients can readily accept these vaccines. Moreover, these vaccines are stable for long-term antigen storage. They also help to reduce the economic burden of infectious disease globally. Various plants, such as potato, rice, maize, tomato, carrot, tobacco, soybean, and peanut, have been used to develop plant-derived vaccines. The choice of the plant depends on the route of administration of the vaccine. Various clinical trials are being conducted to develop plant-based vaccines in therapeutic indications such as influenza, flu, and Ebola virus. Increasing research & development (R&D) activities and growing prevalence of infectious diseases are expected to boost the market growth over the years. However, the potential risk of contamination and environmental risks of manufacturing the vaccines are likely to hamper the market’s growth in the coming years.

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.; and FRAUNHOFER CMB are among the leading companies operating in the plant-based vaccines market. 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.

The report segments the plant-based vaccines market as follows:

The plant-based vaccines market is segmented based on vaccine type, source, application, and geography. Based on vaccine type, the market is categorized into bacterial vaccines, viral vaccines, parasite vaccines, plant-derived virus-like particles (VLPs), and others. Based on source, the plant-based vaccines market has been segmented into tobacco plant, maize, potato, and others. Based on application, the Plant-based vaccines market has been segmented into influenza, zika virus, Ebola virus, COVID-19, poultry disease, and others. On the basis of geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East and Africa (the UAE, Saudi Arabia, South Africa, and Rest of the Middle East and Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).

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 helped 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:

Apr-2021 – Hot House Bio Engineering and Leaf Expression Systems sign Plant-Based Expression License Agreement. By using Leaf’s Hyper tans 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.

The lack of vaccines to prevent fatal diseases has created issues and prompted a worldwide focus on the development of safer, easier, and more effective vaccines. Plants are among the world’s most prolific protein creators. Plants efficiently express proteins of various complexity and glycosylation patterns. Recombinant technology is used to create plant-derived vaccines, in which the gene encoding the required antigen protein is incorporated into the plant genome. Furthermore, experts estimate that the production of a plant-based vaccine takes five to six weeks instead of the five to six months required by vaccine makers to prepare the vaccine in chicken eggs.

Many countries worldwide are developing an effective vaccine to combat the spread of COVID-19, and plant-based vaccines are one of the options for vaccine development. Plant-based vaccines have a good reputation among researchers because of their well-known successful manufacturing procedure and low cost. Various research and clinical trials are carried out for the development of plant-based vaccines. For instance, Medicago Inc. a clinical-stage biotechnology company that uses plant-based technologies to develop and produce novel vaccines and antibodies had successfully produced virus-like particles (VLPs) of the novel coronavirus just 20 days after obtaining the SARS-CoV-2 gene (the virus causing the COVID-19 disease).

Existing prominent players and new entrants in the plant-based vaccines market are concentrating their efforts on conducting comprehensive clinical trials to produce plant-based vaccines for a variety of therapeutic applications. Hence, the increasing number of Research & Development (R&D) activities in plant-based vaccines will surge the demand for plant-based vaccines substantially across the world, leading to an upward thrust in the market’s growth.

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