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Global Plant-based Vaccines Market to Surpass US$ 584.1 Million by 2028, Says Coherent Market Insights (CMI)

/EIN News/ -- SEATTLE, June 04, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global plant-based vaccines market is estimated to be valued at US$ 43.7 million in 2021 and is expected to exhibit a CAGR of 49.9% during the forecast period (2021-2028).

Key Trends and Analysis of the Global Plant-based Vaccines Market:

Key trends in the market include increasing research and development activities, increasing cases of influenza, ongoing clinical trials on plant-based vaccine, inorganic activities such as collaborations by the market players, and others.

Increasing number of research and development activities for improving the effectiveness of plant-based vaccines is expected to bolster growth of the plant-based vaccines market. For instance, on November 10, 2020, Medicago Inc. started conducting clinical trials for the production of plant-based COVID-19 vaccine. The company is planning to initiate Phase II/ III clinical trial after receiving positive results from the Phase I trial. Moreover, Medicago Inc. is also developing VLP Quadrivalent plant-based vaccine for Seasonal Influenza. Currently, the influenza vaccine is in Phase II of the clinical trial. In both the cases, Nicotiana Benthamiana, an Australian tobacco plant, is used for the production of COVID-19 and Influenza vaccine.

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Plant-based vaccines offer several benefits over conventional egg-based vaccine production, in terms of efficiency, production time, and enhancing immune system of the patient. For instance, Medicago's quadrivalent influenza vaccine (QIV) is produced using novel virus-like particle (VLP) technology, which offers new approach in vaccine development and production. In VLP technology, vaccine mimics the native structure of viruses, allowing them to easily get penetrated into patient’s immune system. However, this QIV vaccine lacks core genetic material, rendering them to become non-infectious and unable to replicate. This enables plant-based vaccine to be safe and highly effective to induce immune response of patient similar to natural infection without infecting the patient.

However, various plant-based vaccines are currently in clinical trial phase I, II, and III. Several plant-based vaccines have been developed in various transgenic plants such as insulin in transgenic safflower, taliglucerase alfa in transgenic carrot, avian influenza vaccine in transgenic tobacco, Ebola vaccine in transgenic tobacco, among others. However, there is no plant-derived vaccine approved to be marketed for human consumption to date. Moreover, some of the challenges to develop highly effective vaccines from downstream processing to the implementation of the vaccines include: selection of antigen and plant expression host, uniformity of dosage, and manufacturing of plant vaccines according to Good Manufacturing Practice (GMP) procedures

Key Market Takeaways:

Rising research and development activities, inorganic activities such as collaborations by the market players, and others are expected to drive growth of the global plant-based vaccines market over the forecast period. For instance, on March 11, 2020, iBio, Inc. filed four provisional patent applications for its Virus like Particle [VLP] platform technology or lichenase carrier immunostimulatory (LickM) adjuvant technology, along with its FastPharming Manufacturing System, for the production of the COVID-19 vaccine.

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Competitive Landscape:

Key players operating in the global plant-based vaccines market include Medicago, Inc., IBIO, Inc., Icon Genetics GmbH, Lumen Bioscience, Inc., British American Tobacco Plc., Creative Biolabs, Inc., Leaf Expression Systems Ltd., ZYUS Life Sciences Inc., PlantForm Corporation, and Infectious Disease Research Institute (IDRI).

Market Segmentation:

  • Global Plant-based Vaccines Market, By Vaccine Type:
    • Bacterial Vaccines
    • Viral Vaccines
    • Parasite Vaccines
    • Others
  • Global Plant-based Vaccines Market, By Source:
    • Tobacco Plant
    • Maize
    • Potato
    • Others
  • Global Plant-based Vaccines Market, By Application:
    • Influenza
    • Covid-19
    • Zika Virus
    • Ebola Virus
    • Poultry Disease
    • Others
  • Global Plant-based Vaccines Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East
    • Africa

Related Market Intelligence Reports:

MENA Biologics & Biosimilars Market, by Product Type (Influenza Vaccines, Factor VIII, (Xyntha, Octanate, Kovaltry, Advate, Koate, Adynovate, Kogenate, Hemlibra, Elocta, Recombinate, Feiba, Immunate, Alphanate and Novoeight), Erythropoietin (Epoetin Alfa (Binocrit(2000IU and 4000IU) (Eprex (2000IU and 4000IU) Darbepoietin Alfa (Aranesp) and Epoetin Alfa-epbx (Retacrit, Recormon)), Aflibercept (EYLEA), and Ziv-Aflibercept (ZALTRAP)), by Therapeutic Application (Hemophilia, Age-related Macular Degeneration, Kidney Diseases, Influenza, and Others), and by Region/Country (Gulf and Egypt) - Size, Share, Outlook, and Opportunity Analysis, 2020 – 2027

Read more: https://www.coherentmarketinsights.com/market-insight/mena-biologics-and-biosimilars-market-4393

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Read more: https://www.coherentmarketinsights.com/market-insight/tissue-and-organ-transplantation-market-4342

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