Recombinant Vaccines Market Size, Trends, Demand Analysis 2022-2028
The global recombinant vaccines market size was valued at USD 11,507.3 million in 2021 and is poised to grow at a significant CAGR of 5.3% during the forecast period 2022-28. Increased prevalence of infectious diseases and increased technological advancements boost the growth of the recombinant vaccine market. Furthermore, increased regulatory approvals of recombinant vaccines also drive the global market. The high cost of vaccines and the risk associated with attenuated vaccines will hamper the global recombinant vaccines.
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Hospitals & Retail pharmacies Segment Dominates the Recombinant Vaccines Market
Based on the distribution channel, the hospitals & retail pharmacies segment is expected to have a more significant revenue share in the projection year. The dominance is due to doctors' preference for performing vaccinations in hospitals because of the availability of essential resources and equipment. Furthermore, patients prefer to be vaccinated in a smaller, more local facility. Hospitals and retail pharmacies are also expected to be the fastest increasing segments during the projected period.
The global recombinant vaccines market segmentation
- By Type: Subunit and Live Attenuated
- By Route of Administration: Parenteral and Oral
- By Disease Indication: Human Papillomavirus, Hepatitis B, Rotavirus, Herpes Zoster, Meningococcal B, and Others
- By Distribution Channel: Hospitals & Retail Pharmacies, Government Suppliers, and Others
North America Leads Recombinant Vaccines Market
North America is expected to have a higher share in the recombinant vaccine market. Increased awareness of procedures and sophisticated diagnostics techniques increase in investment by companies have boosted the demand in this region. Moreover, continuous R&D investments by key market players and the development of innovative and effective vaccines also stimulate the growth of the market in this region.
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Key player’s profiles in the recombinant vaccines market report are Merck KGaA, Novartis AG, GlaxoSmithKline Plc, GC Biopharma, Bayer AG, Sanofi SA, Pfizer Inc., and Bharat Biotech.
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