According to a new report published by Allied Market Research, titled, “Recombinant Vaccines Market," The recombinant vaccines market was valued at $8.1 billion in 2021, and is estimated to reach $24.7 billion by 2031, growing at a CAGR of 11.4% from 2022 to 2031.
Recombinant vaccines rely on the capacity of one or multiple defined antigens to induce immunity against the pathogen, when administered in the presence of adjuvants or when expressed by plasmids or harmless bacterial/viral vectors. Recombinant protein vaccines permit the avoidance of several potential concerns raised by vaccines based on purified macromolecules, such as the risk of co-purification of undesired contaminants or reversal of the toxoids to their toxigenic forms, if considering diphtheria or tetanus toxoid vaccines, for example. Another fundamental issue overcome by this technology is the complexity involved in obtaining sufficient quantities of purified antigenic components. However, one of the main challenges in the development of these new strategies of immunization consists of designing vaccines that elicit the appropriate kind of immune response to confer immunity mainly to intracellular pathogens and especially to those that establish chronic, often lifelong infections. For this, the knowledge of the biology of highly conserved antigens involved in pathogenesis and of the immune mechanisms that should be elicited for protection must be obtained to rationally design vaccine strategies that can overcome the low protective immunity naturally generated by infection. There are a variety of expression systems for antigenic protein components, such as bacteria, yeast, mammalian cells and insect cells, in which the DNA encoding the antigenic determinant can be inserted and expressed. However, several factors must be taken into account before selecting the system for antigen expression. Most of the vaccines under investigation are based on highly purified recombinant proteins or subunits of pathogens. The classical example of recombinant protein vaccines currently in use in humans is the vaccine against hepatitis B. Hepatitis B virus (HBV) infection is a chronic liver disease occurring worldwide. HBV presents a marked tropism for human liver cells, partially due to a specific receptor that is expressed on the surface of infected cells.
The key drivers for the recombinant vaccines market size are increase in research and development activities for recombinant vaccines, rise in the prevalence of infectious diseases and increase in rates of vaccinations globally. Moreover, increasing incidence of zoonotic diseases, emerging technologies for developing vaccines and rise in the number of product approvals also helps in the growth of the recombinant vaccines market size. For instance, in June 2021, Merck and Sanofi received an approval for six-in-one pediatric combination vaccine in the U.S. However, prolong period for introduction of new vaccines is expected to hinder the growth of this market. Conversely, the high growth potential in untapped emerging economies is expected to create lucrative opportunities for the growth of the recombinant vaccines market share.
The COVID-19 pandemic had a positive impact on the recombinant vaccines industry owing to the increase in the research and development activities for development of effective vaccines. In addition, the increase in the advantages of vaccines also helped in the growth of the vaccines.
On the basis of indication, the market is classified into human papillomavirus, meningococcal and others. The human papillomavirus segment is projected to exhibit the fastest market growth during the forecast period, owing to increase in the prevalence of chronic diseases among the population, increase in the healthcare expenditure and increase in the adoption of recombinant vaccines technology.
On the basis of end user, the market is classified into pediatric and adult. The pediatric segment is anticipated to grow at the highest rate, owing to upsurge in number of patients of infectious diseases and increase in the number of vaccinations of the adult population globally and increase in the number of research and development activities for the recombinant vaccines used in the prevention of various diseases. Moreover, the rise in the prevalence of chronic diseases like hepatitis also helps in the growth of pediatric segment in the recombinant vaccines market share.
On the basis of distribution channel, the market is classified into hospitals and vaccination centers. The hospitals segment is further subsegment on the basis of type into private and public. The hospitals segment is anticipated to grow at the highest rate, owing to increase in the number of biotechnology companies that mainly focus on the development of recombinant vaccines, increase the research activities of vaccines development. Moreover, the rise in number of public hospitals with sufficient number of medical staff also contributes in the growth of the market.
On the basis of region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). In 2021, North America was the dominant region and is expected to remain dominant throughout the recombinant vaccines market forecast period, owing to high prevalence rate of chronic disease, increase in the number market players and surge in the vaccination rates in the region. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, owing to the presence of high populace countries such as India and China, which in turn increases the prevalence rate of infectious diseases, geriatric population, and the increasing number of product launch and other recombinant vaccines market trends adopted by the market players.
The key market players operating in this market include, AstraZeneca Plc., Dynavax Technologies Corporation, Emergent BioSolutions Inc., GlaxoSmithKline Plc., Johnson & Johnson, Merck & Co. Inc., Novavax, Inc., Pfizer Inc., Sanofi S.A., Serum Institute of India Pvt. Ltd.
KEY FINDINGS OF STUDY
- By indication, the human papillomavirus segment accounted for major share of the recombinant vaccines industry in 2021.
- By end user, the pediatric segment is anticipated to grow with the highest CAGR throughout the forecast period.
- By distribution channel, the hospitals segment is anticipated to grow with the highest CAGR throughout the recombinant vaccines market analysis period.
- By region, North America occupied major share of the recombinant vaccines market in 2021.