Global Recombinant Vaccines Market, by Product Type (Subunit Recombinant Vaccines, Attenuated Recombinant Vaccines, Vector Recombinant Vaccines), by Disease Type (Infectious Disease, Cancer, Allergy, and others), by End User (Recombinant Human Vaccines and Animal Recombinant Vaccines (Poultry, Companion Animal Vaccines, Livestock, Porcine, and Aquaculture Vaccines)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,116.1 Million in 2022 and is expected to exhibit a CAGR of 6.2% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increased launches of recombinant vaccines is expected to drive market growth over the forecast period. For instance, in December 2021, the Texas Children's Hospital (TCH) and Baylor College of Medicine (BCM) from Houston, U.S. had announced that Corbevax, a protein subunit COVID vaccine, had received approval from the Drugs Controller General of India (DCGI) to launch it in India.
Global Recombinant Vaccines Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a positive impact on the recombinant vaccines market, owing to increasing efforts by key players in market to develop vaccines for COVID-19 infection. For instance, in September 2021, Sputnik Light, lso known as Gam-COVD-Vac, a recombinant human adenovirus serotype number 26 (rAd26) vaccine, developed by the Gamaleya Research Institute of Epidemiology and Microbiology, Russia, had received permission for conducting Phase 3 trials of the vaccine in India.
Thus, increasing efforts by key players to develop recombinant vaccines for COVID-19 infection is expected to drive market growth over the forecast period.
Global Recombinant Vaccines Market: Key Developments
In February 2022, Dr. Reddy’s Laboratories Ltd., a multinational pharmaceutical company, announced that Sputnik Light Russian vaccine, developed by the Gamaleya Research Institute of Epidemiology and Microbiology, Russia, was approved by the Drugs Controller General of India (DCGI) as part of India’s national inoculation effort against COVID-19.
In December 2021, VBI Vaccines Inc., a biopharmaceutical company, announced that the U.S. Food and Drug Administration had approved the company’s recombinant trivalent hepatitis B vaccine, PreHevbrio, for adults aged 18 years or older. It is the only approved three-antigen HBV vaccine for adults
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Recombinant Vaccines Market”- Forecast to 2030, Global Recombinant Vaccines Market, by Product Type (Subunit Recombinant Vaccines, Attenuated Recombinant Vaccines, Vector Recombinant Vaccines), by Disease Type (Infectious Disease, Cancer, Allergy, and others), by End User (Recombinant Human Vaccines and Animal Recombinant Vaccines (Poultry, Companion Animal Vaccines, Livestock, Porcine, and Aquaculture Vaccines)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Recombinant Vaccines Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/recombinant-vaccine-market-455
Moreover, increasing prevalence of infectious diseases is expected to drive market growth over the forecast period. For instance, according to the World Health Organization facts sheet published on April 2022, there were 241 million cases of malaria in 2020 compared to 227 million cases in 2019 worldwide.
Key Takeaways of the Global Recombinant Vaccines Market:
- Global recombinant vaccines market is expected to exhibit a CAGR of 6.2% during the forecast period due to the increasing adoption of strategies such as collaborations and partnerships by the key players for carrying out research activities on recombinant vaccines. For instance, in May 2022, Osivax, a biopharmaceutical company developing vaccines to provide broad-spectrum protection against highly mutating infectious viruses and diseases, announced that it had entered into a research collaboration with the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), to conduct a preclinical evaluation combining Osivax’ T-cell based influenza candidate, OVX836.
- Among end users, the recombinant human vaccines is estimated to hold a dominant position in the global recombinant vaccine market over the forecast period, owing to the increased funds and support from government bodies. For instance, in October 2020, International AIDS Vaccine Initiative (IAVI), announced award of US$ 26.7M from the Defense Threat Reduction Agency (DTRA) of the U.S. Department of Defense (DoD) to support IAVI’s recombinant vesicular stomatitis virus (rVSV) vectored SARS-CoV-2 vaccine candidate
- On the basis of regions, North America is estimated to account for the largest market share in the global recombinant vaccine market over the forecast period, owing to increasing launch of programs aimed to educate and increase awareness amongst people to combat against deadly infectious diseases such as influenza. For instance, in March 2022, Novavax, Inc., a biotechnology company dedicated to developing and commercializing next-generation vaccines for serious infectious diseases, announced the launch of its global unbranded 'We Do Vaccines' and 'Know Our Vax' programs, which were educational efforts aimed to help protect the health of people, in the fight against COVID-19 and other deadly infectious diseases, such as influenza.
- Major players operating in the global recombinant vaccine market include Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi, GSK plc., GC Biopharma, Bayer AG, Bharat Biotech, Serum Institute of India Pvt. Ltd., Sartorius AG, Johnson & Johnson Services, Inc., and Bio Farma
