Recombinant Vaccine Market, by Product Type (Subunit Recombinant Vaccine, Attenuated Recombinant Vaccine, Vector Recombinant Vaccine), by Disease Type (Infectious Disease, Cancer, Allergy, and others), by End User (Recombinant Human Vaccines and Animal Recombinant Vaccine (Poultry, Companion Animal Vaccines, Livestock, Porcine, and Aquaculture Vaccines)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030

Published In : Jun 2022

Code : CMI455

Pages :156

Formats :

Excel and PDF

Industry : Biotechnology

Market Challenges And Opportunities

Global Recombinant Vaccines Market: Restraint

The major factors that would hinder growth of the global recombinant vaccines market are, high cost of vaccines, low immunogenicity and the need for repeated vaccination. For instance, according to the Centers for Disease Control and Prevention vaccine price lists 2022, the private sector price of Gardasil, recombinant human papillomavirus vaccine, was around US$ 253.60.

Global Recombinant Vaccines Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, vaccines and medical devices, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, UAE, Egypt, and others, faced problems with regards to the transportation of drugs, vaccines and medical devices from one place to another.

However, the COVID-19 pandemic had a positive impact on the global recombinant vaccines market, owing to the increased research and development activities by the key players for developing recombinant and other vaccines for the COVID-19 infection. The key players in market were focused on developing and receiving approvals for recombinant vaccines to treat COVID-19 infection. For instance, in June 5, 2022, the Drugs Controller General of India gave approval to Biological E Limited., an India-based biotechnology and biopharmaceutical company, for the Corbevax vaccine to be administered as a booster shot to individuals aged 18 years and above, six months after they have already received two doses of either Serum Institute’s Covishield or Bharat Biotech’s Covaxin. Corbevax is a recombinant protein sub-unit vaccine developed against COVID-19 infection.

Increasing incidence of zoonotic diseases and emerging technologies for developing vaccines are expected to drive growth of the recombinant vaccines market

Increasing incidence of zoonotic diseases and emerging technologies for developing vaccines are expected to drive growth of the recombinant vaccines market. For instance, according to the data provided by Centers for Disease Control and Prevention report 2022, a total of 4,702 laboratory-confirmed influenza-associated hospitalizations were reported by FluSurv-NET sites between October 1, 2021, and May 28, 2022 in the U.S.