Market Introduction
The North America plant-based vaccines market is divided into the US, Canada, and Mexico. North America is likely to capture significant share of the global market in 2021. The key factors that are driving the growth of the market are rising number of product launch along with the spur in research and development activities. However, during the forecast period the market is likely to get restrained by the factors such as challenges associated with the product approval, and the contamination and environmental risks for manufacturing plant-based vaccines.
North America is one of the most important regions for the adoption and growth of new technologies due to flattering government policies to boost innovation, the presence of a huge industrial base, and high purchasing power of consumers, mainly in major countries such as the US and Canada. Hence, any impact on the growth of industries affects the region's economic growth negatively. The US is the world’s worst-affected country due to the COVID-19 outbreak. The US is an eminent plant-based vaccines market as the major market players are located in the US. The factory and business shutdowns across the US, Canada, and Mexico negatively impacted various industries in 2020. On the other side, the pandemic has offered vital growth opportunities for the players operating in the plant-based vaccines market due to rising numbers of COVID-19 patients. For instance, several businesses are pursuing research and development for the creation of COVID-19 vaccines based on plants. For instance, in June 2021, iBio, a biotech innovator and biologics contract manufacturing organization, announced that preclinical studies of IBIO-202, its subunit vaccine candidate that targets the nucleocapsid protein (“N protein”) of SARS-CoV-2, demonstrated a robust, antigen-specific, and memory T-cell response. The development of plant-based vaccine fuels the growth of the market.
Market Overview and Dynamics
The plant-based vaccines market in North America is expected to grow from US$ 498.66 million in 2021 to US$ 1,181.06 million by 2028; it is estimated to grow at a CAGR of 13.1% from 2021 to 2028. Infectious disorders or diseases are caused by pathogenic microorganisms such as bacteria, viruses, parasites, or fungus, and they can be transmitted from one person to another either directly or indirectly. These diseases can be divided into three categories – diseases that cause high levels of mortality, diseases that inflict a large load of disability on populations, and diseases that—due to their rapid and unexpected spread—can have serious consequences. Many of the major health factors and infectious disease causes are beyond the health sector's direct control. Sanitation and water supply, environmental and climate change, education, agriculture, trade, tourism, transportation, industrial development, and housing are among the other sectors engaged.
Key Market Segments
North America plant-based vaccines market is segmented into vaccine type, source, application, and country. Based on vaccine type, the North America plant-based vaccines market is segmented into bacterial vaccines, viral vaccines, parasite vaccines, plant-derived virus-like particles, and others. The bacterial vaccines segment held the largest share of the market in 2021. Based on source, the North America plant-based vaccines market is segmented into tobacco plant, maize, potato, and others. The tobacco plant segment held the largest share of the market in 2021. Based on application, the North America plant-based vaccines market is segmented into influenza, zika virus, Ebola virus, poultry disease, COVID-19, and others. The influenza segment held the largest share of the market in 2021. Based on country, the North America plant-based vaccines market is segmented into the US, Canada, and Mexico. The US held the largest market share in 2021.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the plant-based vaccines market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are British American Tobacco p.l.c.; Creative Biolabs, Inc.; Fraunhofer; iBio, Inc.; Leaf Expression Systems Ltd.; LenioBio; Lumen Bioscience, Inc.; Medicago, Inc.; and ZYUS Life Sciences Inc.
Reasons to buy report
North America Plant-based Vaccines Market Segmentation
North America Plant-based Vaccines Market - By Vaccine Type
North America Plant-based Vaccines Market - By Source
North America Plant-based Vaccines Market - By Application
North America Plant-based Vaccines Market - By Country
North America Plant-based Vaccines Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 498.66 Million |
| Market Size by 2028 | US$ 1,181.06 Million |
| CAGR (2021 - 2028) | 13.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Vaccine Type
|
|
Regions and Countries Covered
|
|
| North America | US, Canada, Mexico |
| Market leaders and key company profiles |
|
The North America Plant-based Vaccines Market is valued at US$ 498.66 Million in 2021, it is projected to reach US$ 1,181.06 Million by 2028.
As per our report North America Plant-based Vaccines Market, the market size is valued at US$ 498.66 Million in 2021, projecting it to reach US$ 1,181.06 Million by 2028. This translates to a CAGR of approximately 13.1% during the forecast period.
The North America Plant-based Vaccines Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Plant-based Vaccines Market report:
The North America Plant-based Vaccines Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Plant-based Vaccines Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Plant-based Vaccines Market value chain can benefit from the information contained in a comprehensive market report.
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