The Business Research Company's Plant-Based Vaccines Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LANDON, GREATER LANDON, UK, July 9, 2024 /EINPresswire.com/ -- The global plant-based vaccines market is projected to grow from $1.52 billion in 2023 to $1.68 billion in 2024, at a CAGR of 10.4%. Despite challenges in traditional vaccine production and the need for cost-effective solutions, the market is anticipated to reach $2.5 billion by 2028. Key factors driving this growth include pandemic preparedness, global health security, and the expansion of vaccine applications.

High Prevalence of Infectious Diseases Drives Market Growth
The high prevalence of infectious diseases is a significant factor contributing to the growth of the plant-based vaccine market. Infectious diseases, caused by bacteria, viruses, fungi, or parasites, require effective and affordable treatments. Plant-based vaccines, known for their stability and cost-effectiveness, are increasingly being used to combat these diseases. For instance, the World Health Organization's Global Tuberculosis Report in October 2022 highlighted the global incidence of tuberculosis at 10.6 million cases, emphasizing the need for effective vaccines.

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Key Players and Market Trends
Major companies operating in the plant-based vaccines market include Sanofi Pasteur SA, GlaxoSmithKline plc., British American Tobacco PLC, ICON Plc., and Medicago Inc. These companies are focusing on plant-technology platforms to enhance vaccine production scalability, efficacy, and cost-effectiveness. For example, British American Tobacco launched KBio Holdings Limited in January 2022 to accelerate research and development in plant-based vaccine production.

Government Funding and Technological Advancements
Government funding for vaccine development is expected to further propel market growth. In November 2022, the U.S. Department of Health and Human Services introduced a $350 million initiative to increase COVID-19 vaccinations, including plant-based vaccines. This funding supports health centers in developing and administering vaccines through various community-based initiatives.

Technological advancements in plant biotechnology, environmental sustainability, and the integration of artificial intelligence and machine learning are major trends shaping the market. These innovations are expected to optimize production processes and enhance vaccine efficacy.

Segments:
• Vaccine Type: Bacterial Vaccines, Viral Vaccines, Parasite Vaccines, Other Vaccine Types
• Source: Tobacco Plant, Maize, Potato, Other Sources
• Application: Influenza, Zika Virus, Ebola Virus, Poultry Disease, Other Applications

Geographical Insights: North America Leading the Market
North America was the largest region in the plant-based vaccines market in 2023. The market report covers other regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa. Detailed regional dynamics, market trends, and growth opportunities are provided in the comprehensive report.

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Plant-Based Vaccines Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Plant-Based Vaccines Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on plant-based vaccines market size, plant-based vaccines market drivers and trends, plant-based vaccines market major players, competitors' revenues, market positioning, and market growth across geographies. The plant-based vaccines market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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