Pune, India, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The global recombinant vaccines market size is expected to reach USD 25.32 billion by 2027, exhibiting a CAGR of 11.3% between 2019 to 2027. The introduction of innovative recombinant vaccines owing to the incidence of several infectious viruses such as coronavirus and hepatitis B will uplift the market potential during the forecast period, states Fortune Business Insights, in a report, titled “Recombinant Vaccines Market Size, Share & COVID-19 Impact Analysis, By Type (Subunit and Live Attenuated), By Route of Administration (Parenteral and Oral), By Disease Indication (Human Papillomavirus (HPV), Hepatitis B, Rotavirus, Herpes Zoster, Meningococcal B, and Others), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers and Others) and Geography Forecast, 2020-2027.” The market size stood at USD 10.82 billion in 2019.
April 2020: AstraZeneca announced that it has collaborated with the University of Oxford for the development and distribution of recombinant adenovirus vaccine indicated against COVID-19 infection.
Report Scope & Segmentation
|Forecast Period||2020 to 2027|
|Forecast Period 2019 to 2027CAGR||11.3%|
|2027 Value Projection||USD 25.32 Billion|
|Market Size in 2029||USD 10.82 Billion|
|Historical Data for||2016 to 2018|
|No. of Pages||156|
|Segments covered||Hospital & Retail Pharmacies, Government Suppliers and Others|
|Growth Drivers||The growing prevalence of diseases and viruses has led to huge investments in R&D for the development of innovative drugs and vaccines.|
|The production of vaccines in larger quantities to relieve the population and prevent the risk of vaccine unavailability.|
|The rising focus of key players towards advanced DNA technology, genomics, and other biotechnology techniques can further enhance the production and thus, benefit the market effectively.|
To get to know more about the short-term and long-term impact of COVID-19 on this market,
Please Visit: https://www.fortunebusinessinsights.com/industry-reports/recombinant-vaccines-market-101935
Development of Novel Vaccines by Significant Players to Augment Growth
The growing prevalence of diseases and viruses has led to huge investments in R&D for the development of innovative drugs and vaccines. The production of vaccines in larger quantities to relieve the population and prevent the risk of vaccine unavailability. The rising focus of key players towards advanced DNA technology, genomics, and other biotechnology techniques can further enhance the production and thus, benefit the market effectively.
Furthermore, the stellar sales of novel products will subsequently boost the growth of the market. For instance, Merck’s Gardasil sales sprouted to US$ 3.7 billion in 2019 from US$ 1.7 billion in 2014. The vast majority of the population affected by Hepatitis B is predicted to be an essential factor in promoting the expansion of the market. As per the Hepatitis B Foundation, every year 30 million people are infected by the hepatitis B virus. Besides, the rising government initiatives and immunization programs will certainly create opportunities for the market in the forthcoming years.
Heavy Demand for Vaccines to Escalate Business During Coronavirus
The growing demand for immunization drugs and vaccines due to the extensive spread of the disease amid coronavirus will improve the prospects of the market. The enormous R&D spending by industry players to develop recombinant COVID-19 vaccine will enable speedy expansion of the market in the forthcoming years. For instance, Novavax, a pipeline candidate NVX-CoV2373 is in the phase-1 clinical study against COVID-19. The ongoing clinal trials by pharmaceutical giants for the introduction of an effective COVID vaccine will accelerate the market revenue in the foreseeable future.
Rapid Adoption of Effective Vaccines to Propel Market in North America
The market in North America stood at USD 4.97 billion in 2019 and is expected to rise excellently during the forecast period. The growth in the region is attributed to growing R&D investments by eminent players. The rapid adoption of efficient recombinant vaccines in the US. The increasing accessibility of advanced molecular & genetic engineering instruments is likely to improve the prospects of the market. Asia Pacific is expected to expand rapidly during the forecast period due to the immunization programs by governments. The increasing demand for effective vaccines is likely to support the development of the market.
The rising cases of human papillomavirus disease and hepatitis B are expected to spur opportunities for the market in the foreseeable future. According to the HPV Information Center in 2019, 106,430 annual incidences of human papillomavirus was recorded in China alone. The growing need for vaccine supply can be a crucial factor bolstering the growth of the market in Asia Pacific.
Quick Buy - Recombinant Vaccines Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101935
List of Key Players in Recombinant Vaccines Market:
- GlaxoSmithKline plc.
- Merck & Co., Inc
- Dynavax Technologies
- Pfizer Inc
- Sanofi S.A
- Serum Institute of India Pvt. Ltd
- Novartis AG
- Other Prominent Players
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245