Plant-based Vaccines Market
Plant-based Vaccines Market (Type: Bacterial Vaccine, Viral Vaccine, and Others; Plant Source: Tobacco, Potato, and Others; and Application: Against Infectious Agents, Anti-Cancer, and Against Autoimmune Disorders) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- 225 Pages
Plant-based Vaccines Hold Strong Prospects for Developing COVID-19 Antibodies
Researchers are undertaking significant R&D efforts to identify the viability of plant-based vaccines to combat the spread of COVID-19. Companies in the plant-based vaccines market are under great scrutiny for using plants in the production of vaccines, monoclonal antibodies, and immunomodulatory proteins to reduce morbidity and mortality associated with the novel coronavirus. Plant-based vaccines are considered generally stable, safe, and effective against potential infections.
Plant molecular farming hold promising potentials for the rapid production of biologics on an industrial scale. Companies in the plant-based vaccines market are capitalizing on this opportunity during the pandemic to increase research expenditure in plant biopharming in addition to its prospective applications for developing effective vaccines and antibodies to counter COVID-19.
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Obstacles in Development of 3rd Generation Vaccines Affecting Market Growth
The plant-based vaccines market is projected to expand at a favorable CAGR of 7.38% during the assessment period. However, manufacturers are facing obstacles in the development of 3rd generation vaccines. Hence, companies are taking progressive steps to produce effective vaccines against human and animal-associated diseases by increasing their research expenditure. As such, high cost production and time-consuming production of traditional vaccines are translating into revenue opportunities for companies in the plant-based vaccines market.
The plant-based vaccine technology is based on the insertion of the encoded protein with the desired gene for the specific disease into the plant genome by several methods. The most popular method for the production of vaccines by plant is Agrobacterium mediated gene transformation, which is genetically modified with plant viruses and used to generate plant vaccines.
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Low Up-front Investment, Time Efficiency Helpful in Plant-based Vaccine Production
Plant-based production saves months in initial setup time compared with competing recombinant protein methods. iBio’s FastPharming® system is gaining recognition for using plants as bioreactors, which eliminates the need for expensive and labor-intensive cell line development with respect to traditional vaccines. Such factors are contributing to the growth of the plant-based vaccines market.
The required up-front investment for plant-based vaccine production is less expensive as compared to mammalian cell culture systems. Tight control of posttranslational modifications (PTMs) is being made possible with robust plant-based expression technologies, owing to increased molecule quality and potency.
Companies Consider Technicalities for Production of Recombinant Vaccine Antigens in Plant Systems
The plant-based vaccine production for humans and animals has been under serious consideration to overcome issues associated with biosafety, cost, and distribution. Plant biotechnology is bringing new insights to vaccines research through gene transfer strategies to plants and improvements in amount, isolation, and purification for the production of recombinant vaccine against antigens in plants.
Significant increase in world population and emergence of epidemic & pandemic diseases are key drivers of the plant-based vaccines market. Since plant produce complex proteins similar to other eukaryotic systems, researchers are modifying these proteins with the help of clinical trials. Companies in the plant-based vaccines market are taking into consideration the plant transformation and the production of recombinant protein in plants for the production of recombinant vaccine antigens in plant systems.
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Novel diseases, such as COVID-19, Ebola, and Zika, among others, are fueling the requirement of dynamic vaccine research and investment using plant systems. The plant-based vaccines market is undergoing a significant change with plant-based expression technologies that help to reduce cost and time associated with traditional vaccines. However, manufacturers are facing challenges in the development of 3rd generation vaccines. Hence, companies should use enhanced technologies that include electroporation, sonication, and biolistic methods to develop 3rd generation plant vaccines. These methods are helping in the production of edible vaccines that suit the convenience of individuals and effective against human and animal-associated diseases.
Plant-based Vaccines Market: Overview
- According to Transparency Market Research’s latest research report on the global plant-based vaccines market for the historical period of 2017–2019 and the forecast period of 2021–2031, increase in incidence of infections, government initiatives for expansion of vaccination coverage, and government funding for vaccine development are projected to drive the global plant-based vaccines market in the near future
- According to the report, the global plant-based vaccines market was valued at US$ 1.10 Bn in 2020, and it is anticipated to expand at a CAGR of 7.38% from 2021 to 2031
Increase in Incidence of Infections: Key Driver
- Emerging and re-emerging infectious diseases are deemed to be a public health threat worldwide. A need for constant awareness and readiness, and preparedness to deal with infectious disease outbreaks, which may cause a dangerous threat to the public, has been observed.
- According to the BioMed Central Ltd (part of Springer Nature), the Centers for Diseases Control and Prevention defined syndromic surveillance (SS) as surveillance using health-related data that precedes diagnosis and signals a sufficient probability of a case or an outbreak to warrant further public health response
- Furthermore, high prevalence of infectious diseases, such as hepatitis, tuberculosis, retroviral infections, and endocrine disorders, viz., diabetes, thyroid disorders, etc., is likely to drive the demand for rapid diagnostics test readers during the forecast period
- According to the World Health Organization, in 2016, more than 71 million people were affected with hepatitis C infection globally. Moreover, according to the HIV.gov website, around 36.7 million people were living with HIV/AIDS worldwide by the end of 2016.
- Thus, high prevalence and rise in incidence rate of infectious diseases across the globe is a key driver of the market
Increase in Incidence Rate of Influenza: Major Driver
- Influenza is a respiratory infection caused by influenza viruses and spreads easily. Influenza viruses undergo constant genetic change, which has substantial impact on induced immunity and considerations for vaccine composition.
- According to the World Health Organization (WHO), when an infected person coughs or sneezes, droplets containing viruses (infectious droplets) are dispersed into the air and can spread up to one meter, and infect persons in close proximity who breathe these droplets in
- People should cover their mouth and nose with a tissue while coughing and wash their hands regularly in order to prevent transmission
- Hence, increase in incidence rate of influenza drives the global plant-based vaccines market
Plant-based Vaccines Market: Competition Landscape
- This report profiles major players operating in the global plant-based vaccines market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global plant-based vaccines market is moderately fragmented, with the presence of a large number of leading players in the global market and several small players in regional markets. The top players hold a major share of the global plant-based vaccines market.
- Prominent players operating in the global plant-based vaccines market include
- Creative Biolabs
- Medicago Inc.
- Fraunhofer Center for Manufacturing Innovation
- EEA Consulting Engineers
- Kentucky BioProcessing, Inc.
- The report on the global plant-based vaccines market discusses individual strategies, followed by company profiles of providers of plant-based vaccines. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global plant-based vaccines market.
Plant-based Vaccines Market – Scope of Report
TMR’s report on the global plant-based vaccines market studies the past as well as current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2021 to 2031. The report provides the revenue of the global plant-based vaccines market for the period of 2017–2031, considering 2020 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR %) for the global plant-based vaccines market during the forecast period.
The report has been prepared after extensive primary and secondary researches. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Secondary research involved referring to key players’ annual reports, press releases, and relevant documents to understand the global plant-based vaccines market.
Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomenon in the global plant-based vaccines market.
The report includes an elaborate executive summary along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global plant-based vaccines market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global plant-based vaccines market.
The report delves into the competitive landscape of the global plant-based vaccines market. Key players operating in the global plant-based vaccines market have been identified, and each one of these has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global plant-based vaccines market that have been profiled in this report.
Key Questions Answered in Plant-based Vaccines Market Report
- What is the scope of growth of plant-based vaccines and providers in the global plant-based vaccines market and its segments?
- What will be the Y-o-Y growth of the global plant-based vaccines market between 2020 and 2030?
- What is the influence of changing trends in technologies on the global plant-based vaccines market?
- Will North America continue to be the most profitable market for plant-based vaccines providers?
- Which factors will hamper the global plant-based vaccines market during the forecast period?
- Which are the leading companies in the global plant-based vaccines market?
TMR has utilized a unique research methodology to conduct a comprehensive research on the growth of the global plant-based vaccines market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the global plant-based vaccines market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, device portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to TMR’s study on the global plant-based vaccines market’s primary sources.
These primary and secondary sources have provided exclusive information during interviews, which serves as a validation from plant-based vaccines market leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global plant-based vaccines market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global plant-based vaccines market more reliably and accurately.
Plant-based Vaccines Market – Segmentation