Pune, Sept. 05, 2024 (GLOBE NEWSWIRE) -- "According to SNS Insider, The Recombinant Vaccines Market Size was valued at USD 12.53 Billion in 2023 and is expected to reach USD 32.83 Billion by 2032 and grow at a CAGR of 11.88% over the forecast period 2024-2032."
The growing incidence of infectious diseases across the globe is primarily fuelling the demand for recombinant vaccines. Per the World Health Organization, over 1.5 million people died from vaccine-preventable diseases in 2023, representing an urgent need for effective immunization programs. Governments are routinely enhancing their vaccination strategies to contain infections such as influenza, hepatitis, and human papillomavirus (HPV). For instance, the U.S. Centers for Disease Control and Prevention in 2022 reported a 10% increase in hepatitis B vaccination coverage among adults following the availability of recombinant vaccines. In Europe, the European Centre for Disease Prevention and Control in 2023 found a 15% increase in HPV vaccination among adolescent girls due to active campaigns by the government. Generally, the employment of public vaccination programs primarily focuses on improving the vaccine market, increasing adoption, and boosting the growth of the market.
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Key Recombinant Vaccines Companies:
- GlaxoSmithKline plc.
- C.H. Boehringer Sohn AG & Co.KG
- Merck & Co. Inc
- Sanofi
- Pfizer Inc.
- LG Chem
- Dynavax Technologies
- Serum Institute of India Pvt. Ltd
- Novartis AG
- Sinovac Biotech Ltd
Recombinant Vaccines Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 12.53 Billion |
| Market Size by 2032 | US$ 32.83 Billion |
| CAGR | CAGR of 11.88% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmentation Dynamics
The parenteral administration category, with 78% in 2023, was the most significant. The market has been instrumental in the growth of parenteral vaccines due to their high degree of effectiveness and popularity. Generally administered through injection, parenteral vaccines are best utilized in large-scale immunization programs owing to the quick and robust immune response that they inspire. According to CDC’s 2023 statistics, over 80% of the vaccines used in the U.S. were administered through the parenteral route. The World Health Organization also endorses parenteral administration for its higher seroconversion rate, particularly in sensitive populations such as the elderly and the immunocompromised. Conversely, while oral vaccines are undemanding and easier to distribute due to their requirement of no syringes, they tend to be less stable and less immunogenic. As a result, parenteral vaccines are the dominant category, particularly where the focus is on widespread and sustained immunity.
Recombinant Vaccines Market Key Segmentation:
By Type
- Subunit
- Live Attenuated
By Route of Administration
- Parenteral
- Oral
By Disease Indication
- Human Papillomavirus (HPV)
- Hepatitis B
- Rotavirus
- Herpes Zoster
- Meningococcal B
- Others
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Regional Insight
North America dominated the recombinant vaccines market in 2023 holding 39%. The trend is supported by the strong healthcare infrastructure, significant government investment in immunization programs, and a high level of public awareness. According to the CDC, the U.S. government invested over USD 9 billion in vaccine research and development in 2023, with a large portion of this amount contributed to recombinant vaccine technologies. Advanced vaccines are developed at a high pace and are effectively implemented across the region, leading to strong vaccination rates. In addition, the Public Health Agency of Canada reported that the national immunization rate for key vaccines reached 95% in 2023. The country’s strong healthcare system and proactive vaccination policies support high rates of vaccination among the public. This combination of strong healthcare systems, proactive government efforts, and a high level of public compliance supports North America as the leader in recombinant vaccines.
Recent Developments
In March 2024, The Indian Institute of Technology Guwahati effectively moved its innovative vaccine technology to BioMed Pvt. Ltd., a reputable production company focused on top-notch vaccines. The vaccine technology constitutes a recombinant vector vaccine prepared to control the classical swine fever virus among pigs and wild boars, filling a considerable gap in the Indian vaccine portfolio.
It is the first recombinant virus-based vaccine developed for pigs applying the reverse genetic platform that originated and evolved at IIT Guwahati. Swine fever, a highly communicable disease for pigs, is a fatal disease with a very high mortality level, although it does not impact humans. In India, the incidents of the ailment have consistently been taken in northeastern states as well as in Bihar, Kerala, as well as Punjab, Haryana, and Gujarat.
Key Takeaways
- Parenteral administration is the leading route owing to its higher efficiency.
- North America dominates the market because of the huge amount of government aid and the high percentage of vaccination.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
- Incidence and Prevalence (2023)
- Prescription Trends, (2023), by Region
- Drug Volume: Indication and usage volumes of pharmaceuticals.
- Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients
6. Competitive Landscape
7. Recombinant Vaccines Market Segmentation, by Indication
8. Recombinant Vaccines Market Segmentation, by Route of Administration
9. Recombinant Vaccines Market Segmentation, by Type
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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