The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Plant-Based Vaccines Global Market Report 2023, the plant-based vaccines market is expected to show significant growth in the forecast period.

Key insights from the plant-based vaccines market forecast include:

1. Market Size

The global plant-based vaccines market is expected to grow from $1.38 billion in 2022 to $1.52 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The plant-based vaccines market is expected to reach $2.24 billion in 2027 at a CAGR of 10.1%.

2. Major Driver

The high prevalence of infectious diseases is expected to propel the growth of the plant-based vaccine market going forward. Infectious diseases refer to ailments from germs like bacteria, viruses, fungi, or parasites. Plant-based vaccines, employed in traditional and modern medicine for various illnesses, including infectious diseases, can create secure, effective, stable, and reasonably priced prophylactics, vaccines, and medications. For instance, in October 2022, according to the Global Tuberculosis Report published by the World Health Organization, a Switzerland-based global health agency, the global incidence of tuberculosis (TB) was estimated at 10.6 million cases, with a rate of 134 cases per 100,000 population. TB cases were reported in the Southeast Asia region, accounting for 45% of the total, followed by Africa with 23% of the cases. Therefore, the high prevalence of infectious diseases is driving the growth of the plant-based vaccine market.

View More On The Plant-Based Vaccines Market Report 2023 – https://www.thebusinessresearchcompany.com/report/plant-based-vaccines-global-market-report

3. Key Trend

Product innovation is a key trend gaining popularity in the plant-based vaccine market. Major companies operating in the plant-based vaccine market are focused on developing innovative products to sustain their position in the market. For instance, in February 2022, Medicago Inc., a Canada-based biopharmaceutical company, and GSK PLC, a UK-based pharmaceutical and biotechnology company, announced that Health Canada had approved COVIFENZ, the COVID-19 vaccine. COVIFENZ, the COVID-19 vaccine, is the first plant-based virus-like particles [VLP], recombinant, adjuvanted vaccine available for coronavirus disease. COVIFENZ uses the coronavirus-like particle (CoVLP) technology. The vaccine comprises recombinant spike (S) glycoproteins produced as virus-like particles (VLPs).

4. Largest Region

North America was the largest region in the plant-based vaccines market in 2022.

5. Major Players

Major players in the plant-based vaccines market are 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., Entos Pharmaceuticals Inc., Kentucky BioProcessing Inc., Planet Biotechnology Inc., Icon Genetics GmbH, PlantForm Corporation, LenioBio GmbH, Synbiotic Health Inc., Altimmune Inc., Oramed Pharmaceuticals Inc., iBio Inc., Lumen Bioscience Inc., Baiya Phytopharm Co. Ltd., Greenovation Biotech GmbH, and Pevion Biotech AG.

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Key Plant-Based Vaccines Market Segments
The global plant-based vaccines market 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

The Plant-Based Vaccines Global Market Report 2023  provides an in-depth analysis on the plant-based vaccines market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the plant-based vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Plant-Based-Meat Global Market Report 2023
Plant-Based Protein Global Market Report 2023
Plant Extracts Global Market Report 2023 

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