Plant-based vaccines have several advantages over traditionally produced vaccines such as ease of production, scalability, thermostability, low-cost of production and rapid response to epidemics and pandemics. These vaccines utilize plants as bioreactors to produce antigen proteins that induce protective immunity. They facilitate single-dose vaccination and needle-free administration of oral vaccines, thereby minimizing medical waste and need for trained personnel.

The global Plant-based Vaccines Market is estimated to be valued at US$ 98.19 Mn in 2023 and is expected to exhibit a CAGR of 9.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
There is enormous potential for developing more cost-effective and scalable vaccines using plant-based platform due to growing need for vaccinating the global population. Plant-based expression systems allow for rapid, transient and scalable production of subunit vaccine candidates and are well-suited for developing low-cost vaccines that can be affordably administered to people in developing nations. This offers a tremendous market opportunity for companies to leverage plant manufacturing technologies and develop affordable oral vaccines for diseases like influenza, diarrhea and other infectious diseases prevailing worldwide. Development of such vaccines throughplant-based platform could help increase global vaccinationrates and tackle vaccine-preventable viral diseases andpandemics more efficiently.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. Developing plant-based vaccines requires high capital investments in R&D and clinical trials. Regulatory requirements for approval also act as a barrier.

Bargaining power of buyers: Buyers have moderate bargaining power. There are few alternatives available and switching costs are high for vaccine buyers. However, large buyers can negotiate on price.

Bargaining power of suppliers: Suppliers have low bargaining power due to the differentiated nature of inputs and intellectual property involved. Specialized knowledge and technologies are required to develop plant-based vaccines.

Threat of new substitutes: Threat of substitutes is low to moderate. Alternatives such as traditional vaccine technologies and gene therapies compete but do not fully replace plant-based vaccines.

Competitive rivalry: Intense, as major players compete based on technology platforms, intellectual property, and clinical pipeline.

SWOT Analysis
Strengths: Lower production costs than traditional vaccines. Ability to scale up rapidly to meet demand surges. More stability than cell-based vaccines.

Weaknesses: Long development cycles and regulatory approvals. Public perception issues regarding genetically modified plants. Limitations on target diseases and antigens.

Opportunities: Expanding into new disease areas, specifically for pandemics, cancer, and tropical diseases. Partnerships with drug makers to commercialize candidate vaccines.

Threats: Potential safety concerns slowing regulatory approvals. Pushback from anti-GMO groups delaying product launches. Delays in clinical trials setting back product pipelines.

Key players
Key players operating in the plant-based vaccines market are Medicago, Inc., IBIO, Inc., Icon Genetics GmbH, Lumen Bioscience, Inc., British American Tobacco Plc.

These companies are engaged in research and development activities to introduce improved and cost effective plant-based vaccine production platforms. For example, Medicago Inc.'s plant-based vaccine for COVID-19 received approval for emergency use in 2022. British American Tobacco is leveraging its tobacco plant vector technology platform for production of potential vaccines against various diseases.

 

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