The Recombinant Vaccines Market is poised for significant growth, projected to reach a promising revenue of USD 2,440.6 million by the year 2028. This upward trajectory is fueled by a commendable Compound Annual Growth Rate (CAGR) of 6.1%. This signifies a strong and steady market expansion, reflecting both increasing demand for recombinant vaccines and advancements in the field.
Recombinant vaccines, which are comparatively safer and more affordable, are gaining significant traction on a global scale during this decade. With an increasing emphasis on preventive healthcare, vaccines are gaining momentum worldwide, including in developing economies that continue to grapple with a substantial demand-supply gap, resulting in a significant shortage of vaccines. Nonetheless, several prominent non-profit organizations are continually initiating funding collaborations to enhance the accessibility of crucial vaccines in developing countries.
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Key Dynamics Analysis Evaluates the Role of Collaborative Activities and R&D
Against the backdrop of how Sanofi’s acquisition of Protein Sciences in 2017 has been boosting the former’s Flubok (recombinant vaccines for flu) manufacturing capacity, several players in the recombinant vaccines space are strategizing mutual alliances in coming years. Strategic collaborations between leading players in the recombinant vaccines space are likely to provide a strong impetus to the overall market growth.
Moreover, according to WHO, the 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 vaccine manufacturers, thereby pushing growth of the market shortly
FMI Study Positions Western Europe as Growth Engine of Recombinant Vaccines Landscape
Western Europe currently represents just under 1/3rd share of the global market revenue, attributed to growing government support for vaccine development and vaccination campaigns. The strong presence of key market players in this region and their increasing investments in the R&D of recombinant vaccines further accentuate Western Europe’s top-performing spot.
The report projects impressive growth prospects for Asia Pacific and Japan in the coming years. However, APAC is especially portrayed as lucrative owing to dramatically growing healthcare spending and an expanding target population that struggles with highly unmet clinical needs, despite growing consumer awareness about vaccination merits.
Mature regional markets in North America and Europe remain differentiated due to the effective presence of leading biopharmaceutical companies that boast of GMP-certified sterile manufacturing facilities, contributing significantly towards the revenue growth of the recombinant vaccines market in these regions.
Segmental Analysis Reveals Neck-on-Neck Competition between Subunit and Attenuated Vaccine Types
- Based on the recombinant vaccines market assessment by type, subunit recombinant vaccines currently hold the largest value share but are likely to lose a bit of it to attenuated recombinant vaccines. Both segments collectively cover around 90% share of the total market revenue.
- Applications of recombinant vaccines in human vaccination continue to reflect maximum attractiveness over veterinary applications. A majority of the total market revenue is contributed by recombinant vaccines for humans, as indicated by the report.
- Private clinics and dispensaries remain the most preferred channel for vaccine distribution, followed by pharmacies. Hospital pharmacies hold a larger share than retail pharmacies, though the latter is poised for promising expansion in coming years.
Top Two Players Represent a Whopping 80% Market Value Share, Concludes Competition Analysis
According to the FMI study, GlaxoSmithKline plc and Merck & Co., Inc. collectively account for more than 80% revenue share in the recombinant vaccines marketplace, keeping the landscape highly consolidated. While the former primarily focuses on strategic collaborations, the latter strategizes new product launches for an expanded 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 vaccine manufacturing that accelerate the entire production process.
- Established players in the 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 the recombinant vaccines market.
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Segmentation
The report on the recombinant vaccines market provides salient information on market players. The recombinant vaccines market is segmented by region, product type, application, and distribution channel, to analyze segment-wise growth of the recombinant vaccines market. Based on regions, the recombinant vaccines market is segmented into seven regions – North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan, and the Middle East & Africa (MEA).
The recombinant vaccines market by product type is segmented into subunit recombinant vaccines, attenuated recombinant vaccines, and vector recombinant vaccines. By application, the recombinant vaccines market is segregated into human, and veterinary recombinant vaccines. By distribution channel, the recombinant vaccines market is segregated into hospitals, private clinics & dispensaries, retail pharmacies & others.
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