The Plant-Based Vaccines Global Market Report 2023, provides comprehensive information on the plant-based vaccines market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global market for plant-based vaccines is poised for substantial growth, projected to elevate from $1.38 billion in 2022 to an estimated $1.52 billion in 2023, reflecting a noteworthy compound annual growth rate (CAGR) of 10.5%. However, the landscape is not immune to external factors, as the Russia-Ukraine conflict has cast a shadow on the world’s economic resurgence post-COVID-19. This geopolitical strife has catalyzed economic sanctions, elevated commodity prices, and ushered in disruptions across supply chains, instigating inflationary pressures on goods and services globally. Despite these challenges, the plant-based vaccines market is anticipated to burgeon further, reaching an estimated $2.24 billion by 2027, sustained by a CAGR of 10.1%.
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The prevailing trend in the plant-based vaccine market is product innovation, a pivotal development embraced by leading companies seeking to fortify their market presence. Notably, industry giants such as Medicago Inc., a prominent Canadian biopharmaceutical firm, and GSK PLC, a distinguished UK-based pharmaceutical and biotechnology powerhouse, have spearheaded groundbreaking initiatives. A landmark moment occurred in February 2022 when the collaborative efforts of Medicago Inc. and GSK PLC culminated in Health Canada’s approval of COVIFENZ, a revolutionary COVID-19 vaccine. COVIFENZ stands as the inaugural plant-based virus-like particles [VLP], recombinant, adjuvanted vaccine for combating coronavirus disease, heralding a new era in vaccine technology. Employing the cutting-edge coronavirus-like particle (CoVLP) technology, COVIFENZ is distinguished by its composition, featuring recombinant spike (S) glycoproteins meticulously crafted into virus-like particles (VLPs). This pioneering approach underscores the industry’s commitment to advancing vaccine efficacy and safety through innovative plant-based solutions.
The plant-based vaccines market is segmented:
1) Plant-Based Vaccines Market By Vaccine Type: Bacterial Vaccines, Viral Vaccines, Parasite Vaccines, Other Vaccine Types
2) Plant-Based Vaccines Market By Source: Tobacco Plant, Maize, Potato, Other Sources
3) Plant-Based Vaccines Market By Application: Influenza, Zika Virus, Ebola Virus, Poultry Disease, Other Applications
North America was the largest region in the plant-based vaccines market in 2022.
The table of contents in TBRC’s plant-based vaccines market report includes:
1. Executive Summary
2. Plant-Based Vaccines Market Characteristics
3. Plant-Based Vaccines Market Trends And Strategies
4. Plant-Based Vaccines Market – Macro Economic Scenario
……
32. Global Plant-Based Vaccines Market Competitive Benchmarking
33. Global Plant-Based Vaccines Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Plant-Based Vaccines Market
35. Plant-Based Vaccines Market Future Outlook and Potential Analysis
36. Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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