Mature regional markets in North America and Europe remain distinct due to the effective presence of leading biopharmaceutical companies with GMP certified sterile manufacturing facilities, which contribute significantly to the revenue growth of the Recombinant Vaccines Market in these regions.
Recombinant vaccines are gaining popularity due to their relative safety and low cost. With a growing emphasis on preventive healthcare, vaccines are gaining traction globally, including in developing economies that continue to face a severe demand-supply gap, resulting in a significant shortfall in vaccine availability. However, a number of leading non-profit organisations are constantly launching funding collaborations to increase access to critical vaccines in developing countries.
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A new Future Market Insights report on the global recombinant vaccines landscape emphasises the positive revenue growth potential in developing regional markets such as Asia Pacific and Japan. The FMI report also provides a comprehensive analysis of the current competitive landscape, emphasising exclusive insights gleaned from extensive primary and secondary market research.
Key Dynamics Analysis Evaluates the Role of Collaborative Activities and R&D
In light of Sanofi’s 2017 acquisition of Protein Sciences, which increased the former’s Flubok (recombinant vaccines for flu) manufacturing capacity, several players in the recombinant vaccines space are planning mutual alliances in the coming years. Strategic collaborations between market leaders in recombinant vaccines are expected to provide a significant boost to overall market growth.
Moreover, according to WHO, growing prevalence of rare disease instances such as Ebola, Crimean Congo, MERS, hemorrhagic fever, Marburg, Lassa Fever, Nipah, SARS coronavirus diseases, and Rift Valley Fever is attracting R&D interests of recombinant vaccines manufacturers, thereby pushing growth of the market in the near future
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FMI Study Positions Western Europe as Growth Engine of Recombinant Vaccines Landscape
Western Europe now accounts for just under one-third of global market revenue, owing to increased government support for vaccine development and vaccination campaigns. The presence of key market players in this region, as well as their increasing investments in recombinant vaccine R&D, accentuate Western Europe’s top performance.
The report forecasts strong growth in Asia Pacific and Japan in the coming years. However, APAC is portrayed as particularly profitable due to rapidly increasing healthcare spending and an expanding target population with significant unmet clinical needs, despite rising consumer awareness of the benefits of vaccination.
Segmental Analysis Reveals Neck-on-Neck Competition between Subunit and Attenuated Vaccine Types
- According to a market assessment of recombinant vaccines by type, subunit recombinant vaccines currently hold the largest value share but are likely to lose some of it to attenuated recombinant vaccines. Both segments account for approximately 90% of total market revenue.
- Human vaccination applications of recombinant vaccines continue to be more appealing than veterinary applications. According to the report, recombinant vaccines for humans account for the majority of total market revenue.
- Private clinics and dispensaries, followed by pharmacies, continue to be the most preferred channel for vaccine distribution. Hospital pharmacies have a larger market share than retail pharmacies, though the latter is expected to grow rapidly in the coming years.
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Top Two Players Represent a Whopping 80% Market Value Share, Concludes Competition Analysis
According to the FMI study, GlaxoSmithKline plc and Merck & Co., Inc. account for more than 80% of the revenue share in the recombinant vaccines market, indicating that the landscape is highly consolidated. While the former is primarily concerned with strategic collaborations, the latter is concerned with new product launches in order to increase market share.
- GSK’s candidate vaccine launched in 2017 claims to prevent pulmonary TB in HIV negative adult patients.
- Merck announced the three studies of the first phase of its investigational pneumococcal vaccine, early in 2018.
Competition tracking uncovers a few more important insights that can potentially direct strategy building efforts of competitors in the recombinant vaccines market at a global level.
- New market entry aspirants are prominently opting for the adoption of mammalian protein expression systems in recombinant vaccines manufacturing that accelerate the entire production process.
- Established players in recombinant vaccines landscape are prioritizing the development of new variants of existing vaccines.
- Contractual alliances with non-profit organizations are likely to earn higher profit shares for manufacturing leaders in recombinant vaccines market.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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