by The global Recombinant Vaccine Market is estimated to be valued at US$ 1,184.29 Mn or Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Recombinant vaccines are produced using genetic engineering techniques by isolating and purifying the specific antigenic portion of the pathogen. They provide higher safety, purity and yield when compared to conventional vaccines. Recombinant vaccines help protect against various infectious diseases like hepatitis B, influenza and others.
Market key trends:
Increasing prevalence of infectious diseases and growing demand for advanced vaccination technologies are the major factors driving growth of the recombinant vaccine market. As per data by WHO, around 4 million people around the globe suffer from hepatitis B each year. Growing awareness about availability of recombinant vaccines for prevention of such diseases boosts their demand. Also, the recombinant technology helps produce vaccines with more stability at ambient temperatures without refrigeration which enhances accessibility in remote areas. Development of novel recombinant vaccines for conditions like Zika and Ebola further widens applications of this technique.
Market key trends:
The recombinant vaccine market has been witnessing rising demand owing to the increasing prevalence of infectious diseases. Recombinant vaccine technology helps in developing safer and more effective vaccines by eliminating the use of live pathogen. This reduces the chances of infection during immunization. With rising focus on preventive healthcare, more recombinant vaccines are being introduced for various diseases like hepatitis B, influenza, and HPV. Continuous research and development activities are further aiding the development of novel recombinant vaccines with improved immunogenicity and stability profiles.
SWOT Analysis
Strengths: Recombinant vaccine technology offers high precision and safety. It eliminates the use of live pathogens, thereby reducing risk of infection. Recombinant vaccines have high stability and produce strong immune response.
Weaknesses: High R&D costs associated with recombinant vaccine development. Complex manufacturing processes increase production costs of recombinant vaccines.
Opportunities: Rising awareness about preventive healthcare in developing nations. Growing demand for improved and safer vaccines to control infectious diseases.
Threats: Strong competition from conventional vaccine manufacturers. Stringent regulatory environment for recombinant vaccine approvals.
Key Takeaways
The global recombinant vaccine market size was valued at $1,184.29 Million in 2023 and is expected to reach $2,015.27 Million by 2030, registering a CAGR of 6.1% during the forecast period. The market is primarily driven by the increasing prevalence of chronic infectious diseases and growing demand for therapeutic and preventive recombinant vaccines.
Regionally, North America dominated the global market in 2023 and is expected to maintain its lead over the forecast period. This is attributed to factors such as advanced healthcare infrastructure, presence of major vaccine manufacturing companies, and high vaccination awareness in the region.
Key players operating in the recombinant vaccine market are Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi, GSK plc., GC Biopharma, Bayer AG, Bharat Biotech, Serum Institute of India Pvt. Ltd., Sartorius AG, Johnson & Johnson Services, Inc., and Bio Farma. Major players are focusing on new product launches and strengthening their distribution networks across developing countries.
