Plant-based Vaccines Market, By Vaccine Type (Bacterial Vaccines, Viral Vaccines, Parasite Vaccines, Others), By Source (Tobacco Plant, Maize, Potato, Others), By Application (Influenza, Covid-19, Zika Virus, Ebola Virus, Poultry Disease, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Oct 2023

Code : CMI2004

Pages :180

Formats :

Excel and PDF

Industry : Biotechnology

Plant-Based Vaccines MarketSize and Trends

The global plant-based vaccines market is estimated to be valued at US$ 95.9 million in 2023 and is expected to exhibit a CAGR of 51.3% during the forecast period (2023-2030).

Figure 1. Global Plant-based Vaccines Market Share (%), By Application, 2023

Market- Trends:

Global Plant-based VaccinesMarket - Drivers

Increasing prevalence of COVID-19: Increasing prevalence of COVID-19 is expected to drive the growth of the market over the forecast period, as plant based vaccines are used for the treatment of Covid-19. For instance, in March 2020, a total of 571,678 confirmed COVID-19 cases and 26,494 deaths had been reported worldwide.
Increasing research and development activities: Increasing research and development activities are expected to drive the growth of global plant-based vaccines market over the forecast period. For instance, on May 24, 2023, Baiya Phytopharm Co., Ltd., a clinical-stage biopharmaceutical company, initiated a clinical trial titled “A Phase 2 Study to Evaluate the Safety, Tolerability, Reactogenicity, and Immunogenicity of Baiya SARS-CoV-2 Vax 2 Vaccine as a Booster Following Vaccination for COVID-19 in Adults Between 18 and 64 Years”. The study is currently in phase 2. The study is estimated to be completed on April 2024.

Figure 2. Global Plant-based Vaccines Market Share (%), By Region, 2023