Growing R&D Activities Expected To Drive The Global Recombinant Vaccines Market Growth – ZMR
As the report, the value of global recombinant vaccines market in 2018 was USD 1,096 million and is projected to produce about USD 1,685 million by 2025, growing at about 6.5% CAGR between 2019 and 2025.
Recombinant DNA technology forms the base of developing recombinant vaccines. An antigen is administered into the human’s body to initiate immune response against an extraneous organism. Generally, this is executed utilizing a virus having low virulence. HBV and Hepatitis B are the present day examples of available vaccine produced using recombinant DNA technology. There are numerous benefits of recombinant vaccines. They can be manufactured easily and can be administered into several carriers. Also, there is abundant opportunity for more genetic engineering. Further, they have fewer risks in comparison to other vaccine types. All of these factors are expected to drive the expansion of the global recombinant vaccines market during the forecast period.
The key factors contributing to the growth of the global recombinant vaccines market include the rising spending in the R&D activities of newer vaccines. The advantages presented by these products have enabled treatment of a number of diseases. In addition, the growing technically cutting-edge devices, the high occurrence of infectious diseases, the growing figure of regulatory approvals, and the rising penetration of major market players are factors anticipated to drive the growth of the global recombinant vaccines market in the coming period. Also, the advent of novel recombinant vaccines together with the high effectiveness of recombinant vaccines will fuel the rising product demand. Furthermore, the immunogenic protein linked to these vaccines has enabled applications across varied domains. Additionally, the growing alertness in healthcare, the rising innovations in R&D of vaccines & drugs, suitable reimbursement policies, and the growing average income of people are other factors projected to boost the growth of the market in the near future.
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The global recombinant vaccines market is bifurcated based on diseases, technology, end-user, and region. The global market, based on technology, is divided into Attenuated, Conjugate, Recombinant, Inactivated, and Toxoid. Among these, recombinant vaccines segment of the market held the highest share and is anticipated to observe noteworthy growth rate in the coming years on account of less side-effects compared to conventional vaccines resulting in higher demand and implementation of recombinant vaccines. Also, high requirement to decrease incidence of swine flu, malaria, Zika virus, cancer, Ebola virus, and others together with better immune response provided by these vaccines is expected to boost the segmental expansion during the forecast period. the market, based on disease type, is diversified into cancer, DPT, pneumococcal disease, influenza, hepatitis B, and others. Based on end-user, the global recombinant vaccines market is classified into pediatrics, hospitals & clinics, veterinary, adults, and others. The veterinary segment is further sub-divided into livestock and poultry.
Regionally, the global recombinant vaccines market is expected to be dominated by North America on account of the rising advancements in genetic engineering and molecular biology technologies along with the growing incidence of infectious diseases. In additions, factors such as the rising funds and initiatives by the government for the research & development of innovative medical treatment options and the growing need for technologically enhanced treatment are projected to fuel the expansion of the recombinant vaccines market in this region. Further, Asia Pacific is anticipated to witness the fastest expansion in the recombinant vaccines market as a result of the faster implementation of healthcare technology, initiatives by government to boost the healthcare quality, rising inpatient pool owing to infectious diseases & cancer, suitable reimbursement and insurance policies. Also, the major market players have established their manufacturing plants and regional headquarters in China, Singapore, Korea, Australia, and Japan further driving the expansion of recombinant vaccines market in this region.
Few of prominent players within the global recombinant vaccines market are Novartis AG, Merck & Co. Inc., GlaxoSmithKline Plc., Protein Science Corporation, Bayer AG, Green Cross Corporation, Pfizer Inc., Bharat Biotech, and Sanofi S A.
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- CDN Newswire