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What Is the Growth Rate of the Plant-Based Vaccines Market?

The market for plant-based vaccines has seen a rapid expansion in size in recent years. It is expected that its size will rise from $1.66 billion in 2024 to $1.83 billion in 2025, boasting a compound annual growth rate (CAGR) of 10.2%. The growth experienced in the historic period is as a result of challenges associated with traditional vaccine production, the necessity for a more cost-effective vaccine production method, the emergence of plant molecular farming, decreased allergenic potential, and the application of synthetic biology.

What Growth Rate Is Forecasted for the Plant-Based Vaccines Market by 2029?

The market for plant-based vaccines is predicted to experience swift expansion in the forthcoming years, anticipated to reach a worth of $2.79 billion in 2029, with a compound annual growth rate (CAGR) of 11.1%. This projected growth during the forecast period can be ascribed to readying for pandemics, worldwide health protection, widening of vaccine uses, and embracing by the pharmaceutical industry. A significant trend seen during this period is the advancement in plant biotechnology, focus on environmental sustainability, incorporation of artificial intelligence and machine learning.

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Which Key Companies Are Shaping the Future of the Plant-Based Vaccines Market?

Major companies operating in the plant-based vaccines market include Sanofi Pasteur SA, GlaxoSmithKline plc., British American Tobacco PLC, ICON Plc., Agenus Inc., Medicago Inc., Panacea Biotec Limited, Creative Biolabs Inc., InVitria, Fraunhofer USA Inc., Biodextris Inc., Intravacc B.V, Avesthagen Limited, Calyxt Inc., Zyus Life Sciences Inc., Mapp Biopharmaceutical Inc., Kentucky BioProcessing Inc., Planet Biotechnology Inc., Icon Genetics GmbH, PlantForm Corporation, LenioBio GmbH, iBio Inc., Lumen Bioscience Inc., Baiya Phytopharm Co. Ltd., Greenovation Biotech GmbH, Pevion Biotech AG

Which Factors Are Driving Demand in the Plant-Based Vaccines Industry?

The increasing prevalence of infectious ailments is anticipated to boost the expansion of the plant-based vaccine market. These illnesses are caused by microorganisms like bacteria, viruses, fungi, or parasites. Plant-based vaccines, utilized in both conventional and contemporary medicine for a range of diseases, including infectious ones, can manufacture safe, effective, stable, and cost-effective preventatives, vaccines, and treatments. For example, the Global Tuberculosis Report of the World Health Organization, a Switzerland-based international health institution, noted in October 2022 that the worldwide incidence of tuberculosis (TB) was approximately 10.6 million cases, at a rate of 134 cases for every 100,000 people. The Southeast Asia region registered 45% of TB cases, the highest, followed by Africa with 23%. The substantial prevalence of infectious diseases is thus stimulating the growth of the plant-based vaccine market.

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How Is the Plant-Based Vaccines Market Segmented by Several Divisions?

The plant-based vaccines market covered in this report is segmented –

1) By Vaccine Type: Bacterial Vaccines, Viral Vaccines, Parasite Vaccines, Other Vaccine Types

2) By Source: Tobacco Plant, Maize, Potato, Other Sources

3) By Application: Influenza, Zika Virus, Ebola Virus, Poultry Disease, Other Applications

Subsegments:

1) By Bacterial Vaccines: Recombinant Bacterial Vaccines, Conjugate Bacterial Vaccines, DNA-Based Bacterial Vaccines

2) By Viral Vaccines: Inactivated Viral Vaccines, Live Attenuated Viral Vaccines, Subunit Viral Vaccines

3) By Parasite Vaccines: Recombinant Parasite Vaccines, DNA-Based Parasite Vaccines

4) By Other Vaccine Types: Fungal Vaccines, Multivalent Vaccines, Toxin-Based Vaccines

What are the Emerging Market Trends Driving the Growth of the Plant-Based Vaccines Industry?

In the plant-based vaccine market, a significant trend that’s gaining momentum is product innovation. To maintain market position, main companies in this market are aiming to create novel products. In an illustrative example from February 2022, Medicago Inc., a biopharmaceutical firm from Canada, along with UK-based pharmaceutical and biotech company GSK PLC, declared that Health Canada had given the green light to their COVID-19 vaccine, COVIFENZ. Notably, this vaccine, utilizing COVID-19-like particle (CoVLP) technology, is the first of its kind – a plant-based, virus-like particles [VLP] based, recombinant, adjuvanted vaccine for combating COVID-19. It comprises recombinant spike (S) glycoproteins manifested as virus-like particles (VLPs).

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Which Regions Are Driving Growth in the Plant-Based Vaccines Market?

North America was the largest region in the plant-based vaccines market in 2024. The regions covered in the plant-based vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This Report Delivers Insight On:

1. How big is the plant-based vaccines market, and how is it changing globally?

2. Who are the major companies in the plant-based vaccines market, and how are they performing?

3. What are the key opportunities and risks in the plant-based vaccines market right now?

4. Which products or customer segments are growing the most in the plant-based vaccines market?

5. What factors are helping or slowing down the growth of the plant-based vaccines market?

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