Sep 28, 2020 11:00 AM ET
iCrowd Newswire – Sep 28, 2020
Zion Market Research has published a new report titled “Recombinant Vaccines Market By Product (Attenuated, Vector, and Subunit), By Application (Veterinary and Human), By Disease (Hepatitis B, Cancer, Influenza, and Others), and By Distribution Channel (Hospitals, Clinics, Veterinary Clinics, Retail Pharmacies, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global recombinant vaccines market was USD 1,096 million in 2018 and is expected to generate around USD 1,685 million by 2025, at a CAGR of around 6.5% between 2019 and 2025.
Recombinant DNA molecules are prepared by genetic recombination methods to link genetic material from various sources. This method creates unique sequences that are not normally found in a genome. A vaccine is a formulation of weakened or killed microorganisms administered to a person for disease prevention. A recombinant vaccine is manufactured by introducing DNA (Deoxyribonucleic Acid) that is encoded in an antigen to trigger an immune reaction. Subunit recombinant vaccines attenuated recombinant vaccines, and vector recombinant vaccines are the three major recombinant vaccines types.
The safe to use nature of recombinant vaccines, high investments by recombinant vaccine manufacturers for novel products’ development, rising government initiatives to boost the recombinant vaccines usage, increasing augmented and viable healthcare demand, simplified applications of recombinant vaccines, and growing accessibility of recombinant vaccines via conventional supply chains, escalating number of regulatory authorizations, and growing infectious diseases occurrence are driving the recombinant vaccines market globally.
The rising awareness regarding recombinant vaccines benefits in developing regions, increasing per capita healthcare expenditure, growing demand for veterinary recombinant vaccines, and ongoing technological improvements in recombinant vaccines will create additional opportunities for the recombinant vaccines market in the years ahead. However, risks related to the use of attenuated vaccines, high cost of recombinant vaccines, and the lack of appropriate healthcare setup and trained physicians in developing regions will restrict the global recombinant vaccines market development.
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The recombinant vaccines market is split based on type, application, disease, and distribution channel. Based on type, the recombinant vaccines market includes attenuated, vector, and subunit. The subunit segment accounted for the highest market share in 2018. The application segment includes veterinary and human. The human segment accounted for the highest market share in 2018. The disease segment comprises hepatitis B, cancer, influenza, and others. The hepatitis B segment is expected to register the highest CAGR over the estimated time period. The distribution channel segment is fragmented into hospitals, clinics, veterinary clinics, retail pharmacies, and others.
North America will lead the global recombinant vaccines market in the future, owing to rising developments in the field of genetic engineering and molecular biology, increasing transmittable diseases prevalence, huge research and development expenditure by major manufacturers, high vaccination rates, and rapid uptake of techniques like rDNA technology. Europe will hold the second spot in this global market, due to the presence of the latest treatment facilities, high healthcare expenditure, rising infectious disorders incidences, escalating cancer rate, and growing availability of latest healthcare infrastructure. The Asia Pacific will grow rapidly over the forecast period, owing to the rising government initiatives governments to increase vaccination rate, an enormous patient pool, increasing investments by domestic and global manufacturers, escalating the need for large quantities of vaccines, and ongoing R&D.
Some key players of the global recombinant vaccines market are Pfizer, Merck, Sanofi Pasteur, Bayer, GlaxoSmithKline, Serum Institute of India, Abiomed, Johnson & Johnson, Emergent Bio Solutions, and Mitsubishi Tanabe Pharma.
This report segments the global recombinant vaccines market as follows:
Global Recombinant Vaccines Market: By Type
Global Recombinant Vaccines Market: By Application
Global Recombinant Vaccines Market: By Disease
- Hepatitis B
Global Recombinant Vaccines Market: By Distribution Channel
- Veterinary Clinics
- Retail Pharmacies
Global Recombinant Vaccines Market: By Region
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Browse TOC of this Research Report – https://www.zionmarketresearch.com/toc/recombinant-vaccines-market
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Keywords: Recombinant Vaccines Market