The global “recombinant vaccines market” size is expected to reach USD 25.32 billion by 2027, exhibiting a CAGR of 11.3% between 2019 to 2027. The introduction of innovative recombinant vaccines owing to the incidence of several infectious viruses such as coronavirus and hepatitis B will uplift the market potential during the forecast period, states Fortune Business Insights, in a report, titled “Recombinant Vaccines Market Size, Share & COVID-19 Impact Analysis, By Type (Subunit and Live Attenuated), By Route of Administration (Parenteral and Oral), By Disease Indication (Human Papillomavirus (HPV), Hepatitis B, Rotavirus, Herpes Zoster, Meningococcal B, and Others), By Distribution Channel (Hospital & Retail Pharmacies, Government Suppliers and Others) and Geography Forecast, 2020-2027.” The market size stood at USD 10.82 billion in 2019.
The coronavirus emergency has given immense loss to industries and sectors across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
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Development of Novel Vaccines by Significant Players to Augment Growth
The growing prevalence of diseases and viruses has led to huge investments in R&D for the development of innovative drugs and vaccines. The production of vaccines in larger quantities to relieve the population and prevent the risk of vaccine unavailability. The rising focus of key players towards advanced DNA technology, genomics, and other biotechnology techniques can further enhance the production and thus, benefit the market effectively. Furthermore, the stellar sales of novel products will subsequently boost the growth of the market. For instance, Merck’s Gardasil sales sprouted to US$ 3.7 billion in 2019 from US$ 1.7 billion in 2014. The vast majority of the population affected by Hepatitis B is predicted to be an essential factor in promoting the expansion of the market. As per the Hepatitis B Foundation, every year 30 million people are infected by the hepatitis B virus. Besides, the rising government initiatives and immunization programs will certainly create opportunities for the market in the forthcoming years.
The Report Lists the Main Companies in the Recombinant Vaccines Market:
- GlaxoSmithKline plc. (U.K, Europe)
- Merck & Co., Inc (New Jersey, U.S)
- Dynavax Technologies (California, U.S)
- Pfizer Inc (New York, U.S)
- Sanofi S.A (France, Europe)
- Serum Institute of India Pvt. Ltd (India, Asia Pacific)
- Novartis AG (Switzerland, Europe)
- Other Prominent Players
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