The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Plant-Based Vaccines Global Market Report 2024, the plant-based vaccines market is expected to show promising growth in the forecast period.

Introduction:

The plant-based vaccines market has witnessed remarkable growth in recent years, and projections indicate a promising future trajectory. Let’s delve into the factors driving this growth and the key trends shaping the market landscape.

Rapid Expansion in Market Size:

• From $1.52 billion in 2023 to $1.68 billion in 2024.
• Compound Annual Growth Rate (CAGR) of 10.4%.
• Attributed to traditional vaccine production challenges, need for cost-effective production, emergence of plant molecular farming, reduced allergenic potential, and synthetic biology applications.

Forecasted Growth and Contributing Factors:

• Expected to reach $2.5 billion in 2028.
• CAGR of 10.4%.
• Factors include pandemic preparedness, global health security, expansion of vaccine applications, and pharmaceutical industry adoption.
• Major trends include technological advancements, environmental sustainability, and integration of artificial intelligence and machine learning.

View More On The Plant-Based Vaccines Market Report 2024 – https://www.thebusinessresearchcompany.com/report/plant-based-vaccines-global-market-report

Increased Prevalence of Infectious Diseases Fuels Market Growth:

• Infectious diseases drive demand for plant-based vaccines.
• Plant-based vaccines offer secure, effective, stable, and reasonably priced prophylactics and medications.
• Example: Global Tuberculosis Report highlights the high prevalence of TB cases, particularly in Southeast Asia and Africa.
• Notable companies in the market include Sanofi Pasteur SA, GlaxoSmithKline plc., and Medicago Inc.

Key Players Pioneering Plant-Based COVID-19 Vaccine Innovation:

• Product innovation crucial for market sustainability.
• Medicago Inc. and GSK PLC. introduced COVIFENZ, the first plant-based COVID-19 vaccine.
• COVIFENZ utilizes COVID-19-like particle (CoVLP) technology, showcasing the potential of plant-based vaccines in combating global health crises.

Market Segmentation:

• Vaccine Types: Bacterial, Viral, Parasite, Others.
• Source: Tobacco Plant, Maize, Potato, Others.
• Application: Influenza, Zika Virus, Ebola Virus, Poultry Disease, Others.
• North America led the market in 2023.

Conclusion: The plant-based vaccines market is on a robust growth trajectory, driven by factors such as the need for innovative vaccine solutions, increasing prevalence of infectious diseases, and advancements in biotechnology. With key players pioneering vaccine innovation and expanding market segments, the future looks promising for plant-based vaccines in addressing global health challenges.

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