According to a new report by Persistence Market Research, worldwide revenue from the plant-based vaccines market was $ 1.3 billion in 2022 and is expected to grow rapidly to $3 billion by 2032.
Plant-based vaccines accounted for a market value of around $694 million in 2021. Although data for the full year of 2022 isn’t yet available, the report estimates the market’s value at year’s end is $1.3 billion. This is expected to grow at a compound annual growth rate (CAGR) of 7.8% to reach $3 billion within the next 10 years.
Overall, plant-based vaccine sales accounted for approximately 3.4% of revenue share in the global recombinant vaccines market, which was valued at around $38 billion in 2021.
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