Global Recombinant Vaccines market to grow significantly at a CAGR of 6.30% through the forecast period
The recombinant vaccines market is primarily driven by the increase in technologically advanced devices, a rise in positive regulatory norms towards vaccine administration, the alarming prevalence of infectious diseases, and the growing awareness of healthcare facilities. Additionally, the market is driven by an increase in research and development projects for improved drugs and vaccines. The affordability of healthcare facilities by consumers is also a driving factor for the market. On the other hand, factors such as the risks involved with the live attenuated vaccines, throat irritability after vaccine dosage and certain stringent regulatory norms, are estimated to restrict the market growth. According to a report published by Market Research Future (MRFR), the global recombinant vaccines market size is estimated to witness staggering growth at a 6.30% CAGR over the forecast period.
Key Players
Key players in the global recombinant vaccines market identified by Market Research Future (MRFR), are Emergent Bio Solutions, Abiomed, Inc., Johnson & Johnson, GlaxoSmithKline, Sanofi Pasteur SA, Serum Institute of India Pvt. Ltd, Daiichi Sankyo, Mitsubishi Tanabe Pharma Corporation, Pfizer, Inc.
Segmental Analysis
The global market for recombinant vaccines has been segmented on the basis of product type, diseases, and end-user. Based on the product type, the recombinant vaccines market has been segmented into subunit recombinant vaccines, attenuated recombinant vaccines, and vector recombinant vaccines,
On the basis of disease type, the global recombinant vaccines market has been segmented into pneumococcal disease, cancer, hepatitis B, influenza, DPT, and others.
Based on end-user, the global recombinant vaccines market has been segmented into hospitals & clinics, pediatrics, veterinary, adults, and others.
Based on the region, the global recombinant vaccines market has been segmented into North & Latin America, Europe, Asia Pacific (APAC), and the rest of the world.
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Regional Analysis
North America is the leading regional market in the global recombinant vaccines market due to the rising advancements in molecular biology and genetic engineering methods and the growing prevalence of infectious diseases. Furthermore, factors such as the increase in government initiatives and financial support for research, development of advanced medical treatment options, along with the rising demand for technologically advanced treatment facilities are expected to contribute to the growth of recombinant vaccines market in the American region.
moreover, the rising number of cancer patients has raised the focus of major market players to invest in research to bring in favorable solutions to cure cancer.
Europe is the second largest regional market in the global recombinant vaccines market and holds a strong market share owing to major driving factors like the availability of advanced treatment facilities, rising healthcare expenditure along with an alarming growth rate of cancer and infectious diseases.
The Asia Pacific is anticipated to be the fastest growing market owing to the rapid adoption and improvement in healthcare technology, increase in patient numbers due to cancer and infectious diseases, government initiatives to enhance the healthcare quality, favorable health insurance, and reimbursement policies. on the other hand, factors such as the lack of skilled healthcare professionals may affect market growth during the forecast period.
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