Plant-based vaccines are derived from antigens produced in genetically modified plants that can be extracted and purified by conventional methods. These vaccines can either be consumed or applied to mucosal surfaces. Plants that are commonly used in production of vaccines are tobacco, potato, tomato, corn, and rice. Currently, there are several transgenic plants used in development of four different types of vaccines namely: viral vaccines, parasite vaccines, and bacterial vaccines. Plant-based vaccines can be extensively manufactured at a very cheap cost. Currently, no plant-based vaccine has received approval from the US Food and Drug Administration (FDA), as these vaccines are classified under the genetically modified crop category. However, there are several plant-based vaccines in clinical trials, which are expected to receive approval from FDA during the forecast period.
Request Sample Copy Of This Report: https://www.coherentmarketinsights.com/insight/request-sample/2004
Plant-Based Vaccines Market Drivers
Increasing number of research and development activities by key players in the market and robust pipeline of plant-based vaccines is expected to be a major factor driving the global plant-based vaccines market growth during the forecast period. For instance, in 2017, Medicago Inc.—a Canada-based biopharmaceutical company that focuses on development of plant-based vaccines—initiated phase 3 clinical trial to evaluate efficacy of its seasonal quadrivalent influenza vaccine (QIV) candidate. The trial comprises around 10,000 subjects in the following countries: the U.S., Canada, Germany, the U.K., the Philippines, Finland, and Thailand. QIV was developed using a new virus-like particle (VLP) technology, which is an alternative to egg-based and cell-based production systems.
Furthermore, in 2017, researchers from the Arizona State University (ASU), in the U.S., developed the first plant-based Zika vaccine. According to the university, the newly developed plant-based Zika vaccine is safer, potent, and its production cost is much cheaper. Such robust pipeline of plant-based vaccines is expected to be a major factor in growth of the global plant-based vaccines market during the forecast period.
Moreover, various government initiatives for development of plant-based vaccines are also expected to fuel the plant-based vaccines market growth during the forecast period. For instance, in 2015, Public Health Agency of Canada (PHAC) granted a contract to Medicago Inc. for development of two plant-based vaccines for Sudan strain of Ebola virus.
Plant-Based Vaccines Market Regional Analysis
North America is expected to be dominant in the global plant vaccines market over the forecast period. This is owing to high prevalence of infectious disease such as Ebola and Influenza in the region. For instance, according to a study by Influenza Research Center, 2014, influenza is responsible for substantial morbidity and mortality, with an average of over 100,000 hospitalizations and around 20,000 deaths, annually in the U.S.
Asia Pacific plant-based vaccines market is expected to show significant growth during the forecast period, owing to increasing number of collaborations and acquisitions between key players in the region. For instance, in 2013, Japan-based pharmaceutical company—Mitsubishi Tanabe Pharma Corporation—acquired Medicago Inc., a Canada-based biopharmaceutical company, focused on development of new plant-based vaccines.
Plant-Based Vaccines Market Key Players
Key players operating in the global plant-based vaccines market include Medicago Inc., Mitsubishi Tanabe Pharma Corporation, iBio, Inc., Fraunhofer Center for Molecular Biotechnology (CMB), Protalix BioTherapeutics, and others.
Plant-Based Vaccines Market Taxonomy:
The global plant based vaccines market is segmented on the basis of vaccine type, application, and region By Vaccine Type- Bacterial Vaccines, Viral Vaccines, Parasite Vaccines, Others,. By Application- Influenza, Zika Virus, Ebola Virus, Others,. By Geography- North America, Latin America, Europe, Asia Pacific, Middle East, Africa,.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154