by Plant-based vaccines utilize plants to develop recombinant proteins that can trigger an immune response in humans and animals to fight against infectious diseases. Plants offer several advantages over egg-based or animal cell-based production systems as they can be grown cheaply and quickly at large scales. Major applications of plant-based vaccines include influenza, hepatitis B, cholera, and others. ZYUS Life Sciences recently developed a low-cost, needle-free plant-based influenza vaccine patch called “FluPatch” which is stable at room temperature for over a year.
The global plant-based vaccines market size is estimated to be valued at US$ 98.19 Mn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The increasing demand for thermostable vaccines that do not require refrigeration during storage and transportation is expected to drive the growth of the plant-based vaccines market during the forecast period. As highlighted earlier, plant-based vaccines like FluPatch offers significant advantages over traditional vaccines by being thermostable and stable at room temperature for over a year without refrigeration. Growing prevalence of infectious diseases in developing countries also lacks proper cold chain infrastructure for vaccine storage and distribution. Plant-based vaccines thus provide a cost-effective alternative to overcome cold chain requirements which help expand immunization coverage in remote areas.
Segment Analysis
The plant-based vaccines market is dominated by the prophylactic vaccines segment which accounts for over 70% share of the market. This segment is expected to retain its dominance during the forecast period due to the increasing prevalence of diseases like influenza, hepatitis B, and HPV. With over 2 billion annual flu cases reported worldwide, flu remains a major burden on public health. This has fueled the demand for cost-effective and scalable flu vaccines which plant-based vaccines aim to address.
PEST Analysis
Political: Government support for plant-based vaccine development is driving market growth. Regulatory bodies are also streamlining approval processes to accelerate the adoption of these vaccines. However, public resistance to new vaccine technologies may act as a restraint.
Economic: Lower production costs compared to egg-based and cell-based manufacturing is a major factor for pharmaceutical companies to invest in plant-based vaccine R&D. Emerging economies present lucrative opportunities due to their large population base and growing healthcare expenditures.
Social: Higher acceptance of plant-based vaccines is expected as they avoid issues of low scalability and supply shortages associated with egg-/cell-based vaccines. Ease of storage and distribution also enhances access in remote regions. However, social stigma around consumption of plant-based products can hamper adoption.
Technological: Advancements in molecular pharming and transient plant expression systems have enabled high-yield production of various recombinant proteins and vaccine antigens in plants. IdenTec’s rapid transient technology allows producing vaccines within 4-6 weeks and promises to disrupt the industry.
Key Takeaways
The global Plant-Based Vaccines Market Share is expected to witness high growth at a CAGR of 9.6% during the forecast period of 2023 to 2030 to reach a estimated market size of US$ 98.19 Mn by 2024.
Regional analysis indicates North America currently dominates due to extensive R&D activities and presence of major players in the US and Canada. However, Asia Pacific is poised to be the fastest growing market due to rising cases of hepatitis B in China and India creating demand for affordable alternatives.
Key players operating in the plant-based vaccines 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). Medicago, Inc. leads the market with its plant-derived vaccines in late stage clinical trials including a COVID-19 vaccine candidate. IBIO also has an expanding pipeline targeting indications such as SARS-CoV-2, rabies, norovirus, among others.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
