The global recombinant vaccines market size is projected to reach USD 21.00 billion by the end of 2026. The advancements in molecular genomics have opened up a huge potential for market growth. According to a report by Fortune Business Insights, titled “Recombinant Vaccines Market Size, Share & Industry Analysis, By Type (Subunit and Live Attenuated), By Route of Administration (Parenteral and Oral), By Disease Indication (Human Papilloma virus, Hepatitis B, Rotavirus, Herpes Zoster, Meningococcal B, and Others), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers and Others) and Geography Forecast, 2019-2026,” the market size was USD 8.97 billion in 2018. Driven by increasing number of regulatory approvals, the market will exhibit a CAGR of 11.3% during the forecast period, 2019-2026
The report covers :
o Global recombinant vaccines market trends, with detailed analysis on consumer trends & manufacturer trends.
o Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
o Key areas of investments identifying market opportunities and challenges in forecast timeframe.
o Competitive analysis of the industry players along with the overview on strategic management.
o Comprehensive company profiles of the major industry players.
An Overview of the Impact of COVID-19 on this Market :
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Leading Players operating in the Recombinant Vaccines Market are :
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- GlaxoSmithKline plc.
- Merck & Co., Inc
- Pfizer Inc
- Dynavax Technologies
- Serum Institute of India Pvt. Ltd
- Novartis AG
- Other Prominent Players
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Increasing Number of Regulatory Approvals Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of regulatory clearances have made the highest impact on the market in recent years. In December 2019, Merck received approval from the US Food and Drug Administration for a new vaccine. The ERVEBO was the first ever Ebola vaccine. The approval for ERVEBO will encourage several manufacturers. In October 2017, the USFDA approved GlaxoSmithKline’s new vaccine SHINGRIX which is used for the treatment of herpes zoster. The report highlights the importance of these vaccines on the global market. The report includes a few of the other drug approvals of recent years and gauges their impact on the market.
North America to Emerge Dominant; Emphasis on Product R&D to Aid Growth
The report offers insights into the ongoing recombinant vaccine market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, North America is likely to emerge dominant in the coming years. The demand for recombinant vaccines has risen dramatically across this region, due to the efficacy provided by the recombinant vaccines in treating complex viral diseases. As of 2018, the market in North America was worth USD 4.12 billion in 2018 and this value is likely to increase further in the coming years. Besides North America, Europe will witness considerable growth due to lesser adoption of immunization policies in under-developed European countries.
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