Vascodagama Online Journal

Plant-based Vaccines Market to Hit $ 2,672.05 Million, Globally, by 2028 at a 12.9% CAGR: The Insight Partners

 Breaking News
  • No posts were found

Plant-based Vaccines Market to Hit $ 2,672.05 Million, Globally, by 2028 at a 12.9% CAGR: The Insight Partners

November 23
21:13 2021
Plant-based Vaccines Market to Hit $ 2,672.05 Million, Globally, by 2028 at a 12.9% CAGR: The Insight Partners
Plant-based vaccines market is expected to reach US$ 2,672.05 million by 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

According to our new research study on “Plant-Based Vaccines Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Vaccine Type, Source, Application, and Geography,” The report highlights trends prevailing in the market and factors driving its growth. The market growth is mainly attributed to increasing research & development (R&D) activities and the growing prevalence of infectious diseases. 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.

Strategic Insights:

Report Coverage             

(Details)

Market Size Value in      

(US$ 1,143.72 million in 2021)

Market Size Value by    

(US$ 2,672.05 million by 2028)

Growth Rate     

(CAGR of 12.9 % from 2021 to 2028)

Forecast Period

(2021- 2028)

Base Year           

(2021)

No. of Pages     

(243)

No. Tables          

(83)

Segments covered         

(Vaccine Type, Source, and Application)

Regional scope 

(North America; Europe; Asia Pacific; Latin America; MEA)

Country scope  

(US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina)

Report coverage             

(Revenue forecast, company ranking, competitive landscape, growth factors, and trends)

Get Sample PDF Copy of Plant-based Vaccines Market at: https://www.theinsightpartners.com/sample/TIPRE00024327/

The report offers insights and in-depth analysis of the plant-based vaccines market, emphasizing various parameters such as market trends and opportunities, market dynamics, and competitive landscape analysis of leading market players across North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. It also includes COVID–19 impact analysis across the regions.

Increasing Number of Research & Development (R&D) Activities in Plant-Based Vaccines

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.

Impact of COVID-19 Pandemic on plant-based vaccines market:

The COVID-19 pandemic is adversely affecting industries worldwide. The outbreak led to significant disruptions in primary industries, such as manufacturing, healthcare, energy & power, electronics & semiconductor, aerospace & defense, and construction in 2020. In response to the need to control the spread of the COVID-19 infection among people, hospitals discontinued several services and redirected their operations toward the management of the disease. Moreover, hospitals and healthcare providers has to reassign their specialist doctors to various tasks in ICUs and other COVID-19-related wards. Care receivers also avoided visits to clinics for non-lethal conditions in the first and second quarters of 2020. However, due to increasing number of Covid-19 cases, the demand for the development of plant-based vaccines surged and resulted in the growth of the plant-based vaccines market.

Download the Latest COVID-19 Analysis on Plant-based Vaccines Market Growth Research Report at: https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00024327

Based on vaccine type, the plant-based vaccines market is segmented into bacterial vaccines, viral vaccines, parasite vaccines, plant-derived virus-like particles (VLPS), and others. The bacterial vaccines segment held the largest share of the market in 2021. However, the plant-derived virus-like particles (VLPs) segment is anticipated to register the highest CAGR of 13.6% in the market during the forecast period.

Based on source, the plant-based vaccines market is segmented into tobacco plant, maize, potato, and others. The tobacco plant segment held the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 13.3% in the market during the forecast period.

The influenza segment held the largest share of the market in 2021. However, the COVID-19 segment is anticipated to register the highest CAGR of 13.8% in the market during the forecast period.

Plant-based Vaccines Market: Competitive Landscape and Key Developments

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 in the plant-based vaccines market.

Order a Copy of Plant-based Vaccines Market  Strategies and Forecasts 2021-2028 Research Report at: https://www.theinsightpartners.com/buy/TIPRE00024327/

In April 2021, HotHouse BioEngineering and Leaf Expression Systems signed Plant-Based Expression License Agreement. Similarly, In July 2020, Medicago reached an agreement to supply the Government of Canada with its vaccine against COVID-19, subject to Health Canada approval. Medicago also received $173M in funding support from the Government of Canada for its vaccine research and development.

HotHouse BioEngineering and Leaf Expression Systems sign Plant-Based Expression License Agreement. By using Leaf’s Hypertans technology HHBE aims to produce non-protein secondary metabolites through the assembly and manipulation of multi-enzyme biosynthetic pathways.

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.

Browse Related Reports and get Sample copy

Typhoid Fever Vaccines Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Vaccine Type (Live Attenuated Vaccine, Capsular Polysaccharide Vaccines, Conjugate Vaccine, Others); Route of administration (Oral, Injectable), and Geography.

Pneumococcal Vaccines Market Forecast to 2028 – Covid-19 Impact and Global Analysis – by Dosage (Single Dose Vial, Pre-Filled Syringe); End User (Children aged 2 to 10, Adults aged 10 to 64, Geriatric aged more than 65)

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

More Researchhttps://liverpoolstudentmedia.com/author/theinsightpartners/

Media Contact
Company Name: The Insight Partners
Contact Person: Sameer Joshi
Email: Send Email
Phone: +1-646-491-9876
City: Pune
State: Maharashtra
Country: India
Website: https://www.theinsightpartners.com/pr/plant-based-vaccines-market