Pune, Oct. 03, 2023 (GLOBE NEWSWIRE) -- “The SNS Insider report states that the Recombinant Vaccines Market reached USD 9.18 billion in 2022 and is projected to attain USD 21.46 billion by 2030, with a compound annual growth rate (CAGR) of 11.2% during the forecast period from 2023 to 2030.”
Market Overview
Recombinant vaccines represent a groundbreaking approach in the field of immunization, offering a promising avenue for protecting individuals against various diseases. These vaccines are engineered using recombinant DNA technology, a sophisticated process that involves the manipulation of genetic material to create safe and effective vaccines. Unlike traditional vaccines, which may contain weakened or inactivated pathogens, recombinant vaccines are designed to use a specific component of the pathogen or a genetically modified version of it to stimulate an immune response.
Market Analysis
The recombinant vaccines market is experiencing significant growth, driven by several key factors that are reshaping the landscape of vaccine development and distribution. Recent advancements in biotechnology and genetic engineering have revolutionized vaccine production. Recombinant DNA technology allows for the precise manipulation of genetic material, enabling the creation of safer and more effective vaccines. This technological progress has led to the development of novel recombinant vaccines, attracting both research and investment. Governments, NGOs, and international organizations have launched initiatives to improve access to vaccines, especially in low- and middle-income countries. Recombinant vaccines, due to their scalability and potential for lower production costs, are seen as vital tools to address global health disparities and achieve vaccine equity. The increasing incidence of infectious diseases, including emerging pathogens and vaccine-preventable diseases, drives the demand for new and improved vaccines. Recombinant vaccine technologies are at the forefront of efforts to combat these diseases effectively.
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Major Players Listed in this Report are:
- Novartis AG
- Merck & Co., Inc.
- Sanofi
- Pfizer Inc
- GC Biopharma
- GSK pic
- Bayer AG
- Serum Institute of India Pvt. Ltd.
- Bharat Biotech
- Sartorius AG & Other Players
Recombinant Vaccines Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 9.18 Bn |
| Market Size by 2030 | US$ 21.46 Bn |
| CAGR | CAGR of 11.2% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019-2021 |
| 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) |
Key Takeaway from Recombinant Vaccines Market Study
- The Vaccination Centers Segment's ascent to dominance in the market is a testament to its accessibility, infrastructure, educational role, and versatility. As the global healthcare landscape continues to evolve, these centers are set to play a pivotal role in ensuring widespread vaccine coverage and public health protection.
- Within the realm of recombinant vaccines, the Meningococcal Segment is poised to exert significant influence and dominate the market. This segment's prominence is a reflection of the pressing need for effective vaccines against meningococcal diseases, a group of life-threatening bacterial infections caused by Neisseria meningitidis.
Recent Developments
- Health Canada has recently granted approval for GARDASIL®9 (Human Papillomavirus 9-valent Vaccine, Recombinant) for the prevention of several strains of the human papillomavirus (HPV). This development marks a significant step forward in the fight against HPV-related diseases, including cervical cancer and other malignancies.
- Bharat Biotech, a leading pharmaceutical company based in India, has achieved a significant milestone in the fight against the COVID-19 pandemic as its intra-nasal COVID vaccine has received emergency use approval. This development marks a crucial addition to the arsenal of vaccines available worldwide.
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Market Dynamics Analysis
The recombinant vaccines market has been undergoing significant dynamics in recent years, characterized by a blend of drivers, restraints, challenges, and potential threats. On the positive side, one of the primary drivers propelling the growth of this market is the increasing awareness and adoption of recombinant vaccine technologies, driven by their proven efficacy and safety profiles. Additionally, the rising prevalence of infectious diseases, coupled with the ongoing global efforts to combat pandemics, has spurred government and private sector investments, further boosting market growth. However, this industry also faces notable restraints, including the high cost of research and development, which limits the affordability and accessibility of these vaccines, particularly in lower-income regions. Moreover, regulatory complexities and stringent approval processes can slow down market expansion. Challenges stem from the need for continuous innovation to combat emerging and evolving pathogens, necessitating ongoing research and development efforts. Potential threats include vaccine hesitancy and skepticism in some communities, which may hinder vaccination campaigns, as well as supply chain disruptions, as experienced during the COVID-19 pandemic, which can disrupt vaccine distribution. Nevertheless, with continued advancements in biotechnology, increased investment, and global collaboration, the market is poised for sustained growth in the coming years.
Recombinant Vaccines Market Key Segmentation
By Indication
- Meningococcal
- Human Papillomavirus
- Others
By End User
- Adults
- Pediatric
By Distribution Channel
- Vaccination Centers
- Hospitals
Key Regional Developments
The North American recombinant vaccine market is prominent due to its advanced healthcare infrastructure and significant investments in research and development. High incidence of diseases like influenza, hepatitis, and human papillomavirus (HPV) fuels the demand for recombinant vaccines. Europe boasts a mature market, primarily driven by a strong emphasis on public health. Well-established vaccination programs and initiatives contribute to the steady demand for recombinant vaccines. The Asia-Pacific region is witnessing robust growth in the market, mainly due to its large population and increasing awareness about preventive healthcare.
Impact of Recession on Recombinant Vaccines Market Growth
The impact of an ongoing recession on the recombinant vaccines market is influenced by various factors, including government policies, supply chain disruptions, and shifts in demand. While there may be challenges in terms of funding and delays in R&D, increased public health awareness and collaboration can also create opportunities for growth in this market. The ultimate outcome depends on how governments, healthcare systems, and pharmaceutical companies respond to the economic challenges posed by the recession.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Recombinant Vaccines Market Segmentation, By Indication
9. Recombinant Vaccines Market Segmentation, By End User
10. Recombinant Vaccines Market Segmentation, By Distribution Channel
11. Regional Analysis
12. Company profile
13. Competitive Landscape
14. Use Case and Best Practices
15. Conclusion
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