According to Transparency Market Research’s latest research report on the global plant-based vaccines market for the historical period of 2017–2019 and the forecast period of 2021–2031, increase in incidence of infections, government initiatives for expansion of vaccination coverage, and government funding for vaccine development are projected to drive the global plant-based vaccines market in the near future
Albany NY, United States: According to Transparency Market Research’s latest research report on the global plant-based vaccines market for the historical period of 2017–2019 and the forecast period of 2021–2031, increase in incidence of infections, government initiatives for expansion of vaccination coverage, and government funding for vaccine development are projected to drive the global plant-based vaccines market in the near future
According to the report, the global plant-based vaccines market was valued at US$ 1.10 Bn in 2020, and it is anticipated to expand at a CAGR of 7.38% from 2021 to 2031
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Increase in Incidence of Infections: Key Driver
Emerging and re-emerging infectious diseases are deemed to be a public health threat worldwide. A need for constant awareness and readiness, and preparedness to deal with infectious disease outbreaks, which may cause a dangerous threat to the public, has been observed.
According to the BioMed Central Ltd (part of Springer Nature), the Centers for Diseases Control and Prevention defined syndromic surveillance (SS) as surveillance using health-related data that precedes diagnosis and signals a sufficient probability of a case or an outbreak to warrant further public health response
Furthermore, high prevalence of infectious diseases, such as hepatitis, tuberculosis, retroviral infections, and endocrine disorders, viz., diabetes, thyroid disorders, etc., is likely to drive the demand for rapid diagnostics test readers during the forecast period
According to the World Health Organization, in 2016, more than 71 million people were affected with hepatitis C infection globally. Moreover, according to the HIV.gov website, around 36.7 million people were living with HIV/AIDS worldwide by the end of 2016.
Thus, high prevalence and rise in incidence rate of infectious diseases across the globe is a key driver of the market
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Increase in Incidence Rate of Influenza: Major Driver
Influenza is a respiratory infection caused by influenza viruses and spreads easily. Influenza viruses undergo constant genetic change, which has substantial impact on induced immunity and considerations for vaccine composition.
According to the World Health Organization (WHO), when an infected person coughs or sneezes, droplets containing viruses (infectious droplets) are dispersed into the air and can spread up to one meter, and infect persons in close proximity who breathe these droplets in
People should cover their mouth and nose with a tissue while coughing and wash their hands regularly in order to prevent transmission
Hence, increase in incidence rate of influenza drives the global plant-based vaccines market
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Plant-based Vaccines Market: Competition Landscape
This report profiles major players operating in the global plant-based vaccines market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global plant-based vaccines market is moderately fragmented, with the presence of a large number of leading players in the global market and several small players in regional markets. The top players hold a major share of the global plant-based vaccines market.
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Prominent players operating in the global plant-based vaccines market include
- Creative Biolabs
- Medicago Inc.
- iBio
- Fraunhofer Center for Manufacturing Innovation
- ICON
- EEA Consulting Engineers
- Protalix
- Kentucky BioProcessing, Inc.
The report on the global plant-based vaccines market discusses individual strategies, followed by company profiles of providers of plant-based vaccines. The competition landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global plant-based vaccines market.
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