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COVID-19 Impact on Global Recombinant Vaccines Market By Patient Type (Pediatric and Adult Patients); By Technology (Conjugate Vaccines, Inactivated And Subunit Vaccines, Live Attenuated Vaccines, Recombinant Vaccines and Toxoid Vaccines) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
Using recombinant DNA technology or genetic engineering to prevent lethal diseases in humans and animals, recombinant vaccines are made. A recombinant vaccine is a biological preparation that provides the active immunity gained against a specific disease, whereas the vaccinated individual produces antibodies against the protein antigen that, upon attack from the pathogenic microorganism, prevent a person from contracting the disease. These vaccines work on disease immune response and have preventive measures against diseases caused by different bacteria and viruses. Compared with traditional vaccines, these vaccines are much more advanced and effective in preventing diseases such as malaria, typhoid, and human papillomavirus (HPV).
Global Recombinant Vaccines Market size was registered at USD 0.94 billion in 2019 and is estimated to reach USD 2.04 billion by 2030, registering a CAGR of 7.16% from 2020 to 2030. The global demand for recombinant vaccines is largely driven by an increase in advanced technological products, a rising number of regulatory approvals, a high prevalence of infectious diseases, and an increasing penetration of key players in the market. Also, rising healthcare awareness, favorable reimbursement policies, growing innovation in drug and vaccine research and development, as well as increasing the average income of individuals, are driving the market growth.
Source: Fatpos Global
By Patient Type (in %), Recombinant Vaccines Market, 2019
The pediatric patient’s segment is anticipated to register XX% of the market share during the forecasted period.
By patient type, the market can be segmented into pediatric and adult patients. The largest share of the global vaccine market was in the pediatric patient’s group. This can be due to the growing government initiatives for immunization and the rising prevalence of diseases.
By Technology (in %), Recombinant Vaccines Market, 2019
The conjugate vaccine segment accounted for XX% of the nation’s volume in 2019
The technology segment can be classified into conjugate vaccines, inactivated and subunit vaccines, live attenuated vaccines, recombinant vaccines, and toxoid vaccines. The largest share of the vaccine market was in the conjugate vaccine category. Increasing government funding and increasing company involvement in conjugate vaccine production can be due to the significant share of this category.
Source: Fatpos Global
Global demand for recombinant vaccines is largely driven by an increase in advanced technological products, a rising number of regulatory approvals, a high prevalence of infectious diseases, and an increasing penetration of key players in the market. Also, rising healthcare awareness, favorable reimbursement policies, growing innovation in drug and vaccine research and development, as well as increasing the average income of individuals, are driving the market growth.
High vaccine costs and side effects of treatment to hinder the market growth
Market growth is likely to be impeded by factors such as high vaccine costs, risks associated with live attenuated vaccines, as well as sore throat irritability after vaccine administration, and strict regulatory policies. The lack of adequate health care facilities, as well as information in middle-income countries about pathogen-related diseases, is a major challenge to market development.
In terms of value and volume, North America accounted for XX% of total market volume share in 2019
The largest share of the vaccine market in North America was attributed to the high prevalence of infectious diseases and increased spending by government and non-governmental vaccine production organizations. On the other hand, the demand at APAC is expected to report the highest growth over the forecast period. Factors such as growing healthcare spending and rising disposable income, government policies, and the presence of a large patient population are driving growth in the APAC region's vaccine sector.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
Source: Fatpos Global
North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
The global pandemic COVID-19 has become global stress, not just for human lives, but also for industries across different industry verticals. The COVID-19 disease has infected several million people globally, with an increasing number of active cases daily, the duration of the pandemic is still difficult to predict. The epidemic of COVID-19 has had an enormous effect on countries around the world, putting an economic burden on the population. However, the market for vaccines has been growing worldwide due to their efficacy against deadly infections. Increased R&D leading to the production of a possible COVID-19 recombinant vaccine is projected to increase the market potential in the year's forecast. Therefore, due to the launch of many coronavirus positive patients, the market is expected to experience positive growth during the forecast period.
New technological advancements in the Recombinant Vaccines Market as well as large production output of the product by key players are likely to increase the market growth. In this segment, the pharmaceutical companies have dramatically strengthened their supply chain management, enhanced their R&D capabilities, and invested more in their production management and quality control.
Global Recombinant Vaccines Market: Key players
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Recombinant Vaccines Market segments: -
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