Plant-based Vaccines Market: Plant-based Vaccines Hold Strong Prospects for Developing COVID-19 Antibodies
Plant-based Vaccines Market: Introduction
According to the report, the global plant-based vaccines market was valued at US$ 1.10 Bn in 2020. It is projected to expand at a CAGR of 7.38% from 2021 to 2031. Plant-based vaccine production primarily involves the integration of transgene into the plant cells. The target sequence of the selected antigen is integrated with the vector before being transferred into the expression system. Oral plant-based vaccines are ideal, as the manufacturing process is simple; no additional medical devices are needed for injection; and the antigen immunogenicity and biological activities are preserved in the gastrointestinal tract due to their natural bioencapsulation in a plant cell organelle.
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In terms of type, the global plant-based vaccines market has been classified into bacterial vaccine, viral vaccine, and others. Based on plant source, the global plant-based vaccines market has been classified into tobacco, potato, and others. In terms of application, the global plant-based vaccines market has been categorized into against infectious agents, anti-cancer, and against autoimmune disorders.
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Plant-based Vaccines Market: Prominent Regions
North America held a major share of the global plant-based vaccines market in 2020. Presence of key players and growth strategies adopted by these players are the major factors driving the plant-based vaccines market in the region. Europe accounted for the second-largest share of the global plant-based vaccines market in 2020. The expansion of the market in the region can be attributed to well-developed healthcare sector. The plant-based vaccines market in Asia Pacific is likely to expand at a rapid pace during the forecast period. Technological developments in plant-based vaccines is a major factor that is likely to propel the market in the region.
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Plant-based Vaccines Market: Key Players
Key players are expanding their footprint to consolidate their positions in the global plant-based vaccines market due to lucrative opportunities to increase their share. Hence, manufacturers engage in new development, collaborations, and distribution to gain market share. Leading players operating in the global plant-based vaccines market are Creative Biolabs, Medicago Inc., iBio, Fraunhofer Center for Manufacturing Innovation, ICON, EEA Consulting Engineers, Protalix, and Kentucky BioProcessing, Inc.
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Vaccines Market: The healthcare industry is also undergoing rapid changes in its fabric of operations. Apart from being responsible for treatment and diagnosis, the healthcare industry has also shouldered the responsibility of informing and educating the masses about the importance of vaccination. Several developed countries have kept the incidence of chronic illnesses under control through proper administration of key vaccines. Furthermore, the healthcare index of these regions has also improved over the years, mainly due to extensive popularity of various vaccines amongst the masses. Developed countries account for a major share of the vaccines market.
Vaccine Contract Manufacturing Market: A vaccine is a biological product which gives active acquired immunity to a particular disease. Vaccines have always been considered as a less profitable business described by high entrance hurdles. Stringent regulatory standards combined with significant fixed costs, and production & development related complications, have partial competition between vaccine producers. Moreover, these complications have restricted invention to a great extent. In the past, companies operating in the vaccines market were only focused on the development of preventive vaccines against contagious diseases.
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