Plant based vaccines market

Q: Which is the leading application segment in the market?

Covid-19 is the leading application segment in the market. Read more

Plant-based Vaccines Market, By Vaccine Type (Bacterial Vaccines, Viral Vaccines, Parasite Vaccines, Others), By Source (Tobacco Plant, Maize, Potato, Others), By Application (Influenza, Covid-19, Zika Virus, Ebola Virus, Poultry Disease, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

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Oct 2023
CMI2004
180 Pages
Excel & Pdf
Biotechnology

Summary

The global plant-based vaccines market is estimated to be valued at US$ 95.9 million in 2023 and is expected to exhibit a CAGR of 51.3% during the forecast period (2023-2030).

Analysts’ Views on the Global Plant-based Vaccines Market:

The increasing research and development of plant-based vaccines is expected to drive the growth of the market over the forecast period. For instance, according to data published in September 2021 by Genetic Engineering & Biotechnology News University of California-Riverside, researchers are studying whether it can turn edible plants like lettuce into mRNA vaccine factories.

Figure 1. Global Plant-based Vaccines Market Share (%), By Application, 2023

Global Plant-based Vaccines Market - Drivers

Increasing prevalence of COVID-19: Increasing prevalence of COVID-19 is expected to drive the growth of the market over the forecast period, as plant based vaccines are used for the treatment of Covid-19. For instance, in March 2020, a total of 571,678 confirmed COVID-19 cases and 26,494 deaths had been reported worldwide.
Increasing research and development activities: Increasing research and development activities are expected to drive the growth of the global plant-based vaccines market over the forecast period. For instance, on May 24, 2023, Baiya Phytopharm Co., Ltd., a clinical-stage biopharmaceutical company, initiated a clinical trial titled “A Phase 2 Study to Evaluate the Safety, Tolerability, Reactogenicity, and Immunogenicity of Baiya SARS-CoV-2 Vax 2 Vaccine as a Booster Following Vaccination for COVID-19 in Adults Between 18 and 64 Years”. The study is currently in phase 2. The study is estimated to be completed in April 2024.

Figure 2. Global Plant-based Vaccines Market Share (%), By Region, 2023

Global Plant-based Vaccines Market - Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global plant-based vaccines market over the forecast period. The global plant-based vaccines market is expected to witness significant growth in the coming years, driven by the increasing technology advancement of plant based vaccines. For instance, in September 2021, the University of California, a public research university, was developing COVID-19 vaccine candidates that could take the heat.

Plant-based Vaccines Market Report Coverage

Report Coverage	Details
Base Year:	2022	Market Size in 2023:	US$ 95.9 Mn
Historical Data for:	2018 to 2022	Forecast Period:	2023 to 2030
Forecast Period 2023 to 2030 CAGR:	51.3%	2030 Value Projection:	US$ 1,739.1 Mn
Geographies covered:	North America: U.S. and Canada Latin America: Brazil, Argentina, Mexico, and Rest of Latin America Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific Middle East: GCC, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Vaccine Type: Bacterial Vaccines, Viral Vaccines, Parasite Vaccines, Others By Source: Tobacco Plant, Maize, Potato, Others By Application: Influenza, Covid-19, Zika Virus, Ebola Virus, Poultry Disease, Others
Companies covered:	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).
Growth Drivers:	Increasing prevalence of Covid-19 Increasing research and development activities
Restraints & Challenges:	Disadvantages and potential risk of contamination and environmental risks

Global Plant-based Vaccines Market - Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems with the transportation of products from one place to another.
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 166,346,635 cases and 3,449,117 deaths due to coronavirus disease (COVID-19) were reported until May 21, 2021, across the globe.
The rapid spread of COVID-19 is challenging healthcare systems worldwide. In many countries, hospitals and ICU departments are overloaded or on the verge of a potential collapse. Therefore, optimal allocation of healthcare resources is required. Healthcare professionals are forced to treat severely ill patients with limited access to ventilation equipment, qualified intensive care personnel, or protective patient monitoring devices. The effort to prevent COVID-19 patients from deterioration and ICU admission is huge.

Global Plant-based Vaccines Market Segmentation:

The global plant-based vaccines market report is segmented into vaccine type, source, application and region.

By vaccine type, the market is segmented into bacterial vaccines, viral vaccines, parasite vaccines and others. Out of which, the bacterial vaccine segment is expected to hold a dominant position in the global plant-based vaccines market during the forecast period. Bacterial vaccines contain killed or attenuated bacteria that activate the immune system. Antibodies are built against that particular bacteria, and prevents bacterial infection later.
By application, the market is segmented into influenza, covid-19, zika virus, ebola virus, poultry disease, and others. Out of which, the covid-19 segment is expected to hold a dominant position in the global plant-based vaccines market during the forecast period, and this is attributed to the increasing product approval by regulatory bodies. For instance, in February 2022, Medicago AB, a biopharmaceutical company, announced that Health Canada had granted approval for the COVIFENZ, COVID-19 vaccine, (plant-based virus-like particles [VLP], recombinant, adjuvanted). This vaccine is indicated for active immunization to prevent coronavirus disease 2019 (COVID‑19) caused by severe acute respiratory syndrome coronavirus 2 (SARS‑CoV‑2) in individuals 18 to 64 years of age.
By source, the market is segmented into tobacco plant, maize, potato, and others. Out of which, tobacco plant is expected to dominate the market over the forecast period, and this is attributed to the increasing launch of new companies. For instance, in January 2022, British American Tobacco (BAT), a multi-category consumer goods company that provides tobacco and nicotine products, launched Kentucky BioProcessing (KBP), a wholly owned subsidiary of British American Tobacco (BAT). The new company will focus on using tobacco plants to develop biologics and vaccines for rare and infectious diseases.

Global Plant-based Vaccines Market - Cross Sectional Analysis:

Increasing prevalence of the Ebola Virus in Africa is expected to drive the growth of the Africa market over the forecast period. For instance, according to data published in December 2021 by the National Library of Medicine, in 2020, 3470 Ebola virus disease cases had been reported, including 3317 confirmed and 153 probable cases, with 2287 deaths in the Democratic Republic of the Congo, Africa.

Global Plant-based Vaccines Market: Key Developments

On September 24, 2020, Lumen Bioscience, Inc., a pharmaceutical company, received US$ 4 million grant from Series B financing round from the investors such as WestRiver Management, Bioeconomy Capital, and others. The company is planning to use the funding for engineering the spirulina for the production of COVID-19 vaccine.
In June 2022, Mazen Animal Health, a biotechnology company, announced that the company is getting closer to completing the development of a novel vaccine that would be produced in corn and administered through animal feed.

Global Plant-based Vaccines Market: Key Trends

Increasing funding by the government: Increasing funding by the government for the development of plant-based vaccines is expected to drive the growth of the global plant-based vaccines market over the forecast period. For instance, according to data published in May 2022 by HT Digital Streams Ltd, an online news company, the Canadian government provided US$173 million in funding to Medicago Inc., a biotechnology company, for its development of Covifenz, the world’s first plant-based COVID vaccine.

Global Plant-based Vaccines Market: Restraint

Disadvantages and potential risk of contamination and environmental risks: Disadvantages and potential risks of contamination and environmental risks are expected to hinder the growth of the global plant-based vaccines market in the near future. Pollen contamination difficulties with field crop-based Plant Molecular Farming (PMF) platforms, such as platforms based on maize or rice, create biosafety concerns as pollen may contaminate non-transgenic crops that are part of standard agricultural production. Currently, the U.S. FDA has a restricted policy for using food crops for the production of recombinant pharmaceutical compounds.

Global Plant-based Vaccines Market - Key Players

The major players operating in the global plant-based vaccines market include 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).

Definition: Plant-derived vaccines are produced by recombinant technology, in which the gene encoding the desired antigen protein is integrated into the plant genome. Agrobacterium tumefaciens is commonly used for gene transfer and transformation.

Table of Content

Table of Contents

*Browse 37 market data tables and 36 figures on “Global Plant-based Vaccines Market” - Global forecast to 2030

Segmentation

Plant-Based Vaccines Market Detailed Segmentation:

By Vaccine Type:

Bacterial Vaccines
Viral Vaccines
Parasite Vaccines
Others

- Frequently Asked Questions -

What is the current market size and compound annual growth rate (CAGR) of the global plant-based vaccines market during the forecast period (2023-2030)?

The global plant-based vaccines market is estimated to be valued at US$ 95.9 million in 2023 and is expected to exhibit a CAGR of 51.3% between 2023 and 2030.

What are the major factors driving the market growth?

Increasing prevalence of COVID-19 and increasing research and development activities are expected to drive the market growth.

Which is the leading application segment in the market?

Covid-19 is the leading application segment in the market.

What are the key factors hampering the growth of the market?

Disadvantages and potential risks of contamination and environmental risks are expected to hinder the market over the forecast period.

Which are the major players operating in the market?

The major players operating in the 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).