The recombinant vaccines market is projected to exhibit a CAGR of 6.8% during the forecast period. Vaccines that are produced using the recombinant DNA technology or genetic engineering are called recombinant vaccines. The recombinant vector vaccine strategy enables triggering of T- cells and antigens, thus generating a strong cell-mediated immune response in the body against that particular immunogen. The global recombinant vaccines market is majorly driven by increasing technical advanced devices, increasing number of regulatory approvals, the high prevalence of infectious diseases, and growing penetration of key market players. Furthermore, raising awareness of healthcare, favorable reimbursement policies, increasing innovations in research and development of drugs, and vaccines, as well as rising average income of individuals, are fueling the market growth. However, factors such as high cost of vaccines, risks associated with live attenuated vaccines, as well as sore throat irritability after vaccine administration and stringent regulatory policies are likely to hamper the growth of the market. Lack of proper health care infrastructure, as well as awareness regarding pathogen-related diseases in middle-income countries, are a major challenge to the market growth.
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Recombinant VaccinesMarket – Top Players
- Emergent Bio Solutions, Inc.
- Johnson & Johnson
- Sanofi Pasteur SA
- Serum Institute of India Pvt. Ltd
- Mitsubishi Tanabe Pharma Corporation
- Daiichi Sankyo
- Pfizer, Inc.
Global Recombinant Vaccines Market – Regional Analysis
Americas is the global leader in recombinant vaccines market owing to increasing advances in molecular biology and genetic engineering techniques as well as increasing prevalence of infectious diseases. Additionally, factors such as increasing government initiatives and funding for research, development of advanced medical treatment options, and rising demand for technologically advanced treatment are likely to enhance the growth of recombinant vaccines market in the American region. For instance, According to stats presented in the Centers for Disease Control and Prevention report in the year 2017, around 49.9% of the children between the ages of 6 months to 17 years in the U.S. received an influenza vaccine. Due to the alarming rate of diseases associated with opportunistic pathogen developed countries are introducing compulsory immunization program. Raising global burden of cancer has also led a lot of key players to invest their time and money to come up with solutions to curb this problem. For instance, The vaccine therapy with or without trastuzumab as well as GM-CSF vaccine for the treatment of breast cancer is in phases II clinical trial. Green signal from regulatory bodies for these vaccines will further boost up the market growth
Europe is the second largest market and holds a healthy share in the global recombinant vaccines market due to major driving factors like availability of advanced treatment facilities, increasing healthcare expenditure along with an alarming rate of cancer and infectious diseases. Furthermore, Lots of established key players in this region export their products to the developing nation. For instance, the European Commission stated that the R&D spending by the pharmaceuticals and biotechnology sectors grew by 8.7% in 2014. This investment in R&D along with the ongoing legislative reforms is expected to have a positive impact on the recombinant vaccines market.
Asia Pacific is expected to be the fastest growing market owing to the faster adaptation of healthcare technology, increasing inpatient pool due to cancer and infectious diseases, government initiatives to increase the healthcare quality, favorable insurance, and reimbursement policies. Key players have set up their regional headquarters and manufacturing plants in Singapore, China, Japan, Korea, and Australia thus, boosting the growth of recombinant vaccines market. Government is also taking several initiatives to spread awareness in the low-income areas. National Immunization Program In India has helped people below the poverty line get immunized against polio as well as DPT. However, on the other hand, factor such as lack of skilled healthcare professionals may slow down the market growth during the forecast period.
The Middle East and Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access and availability of treatment facilities. In the Middle East, United Arab Emirates is the largest market share owing to the development of healthcare industry and rising availability of specialty care centers. However, this area has the possibility to grow during the forecast period as due to increasing outbreak of new opportunistic pathogen associated diseases like Ebola, Zika Virus, and Hepatitis B government along with some key planners have set up their R&D centers in this region
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Global Recombinant Vaccines Market – Segmentation:
The global recombinant vaccines market is segmented on the basis of product type, diseases, and end-user. According to the product, the market is segmented into subunit recombinant vaccines, attenuated recombinant vaccines, and vector recombinant vaccines,
Considering the disease type, the market is segmented into pneumococcal disease, cancer, hepatitis B, influenza, DPT, and others.
On account of the end-user, the market is segmented into hospitals & clinics, pediatrics, adults, veterinary, and others. Veterinary is further segmented to poultry and livestock.
Based on the region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. The American region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
Major TOC of Recombinant VaccinesMarket Research Report- Global Forecast till 2023
2 Research Methodology
3 Market Dynamics
4. Market Factor Analysis
5. Global Autoimmune Disease Market, By Route Of Administration
6. Global Autoimmune Disease Market, By Type
7. Global Autoimmune Disease Market, By Disease
8. Global Autoimmune Disease Market, By End-User
9. Global Recombinant Vaccines Market, By Region
10. Competitive Landscape
11. Company Profile
12. MRFR Conclusion
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