May 25, 2020

Recombinant Vaccines Market Research Report, Global Industry Analysis, Business Development, Size, Share, Trends, Future Growth, Forecast To 2026

Recombinant Vaccines Market to Benefit from the Ability of the Product to Treat Critical Diseases

The global recombinant vaccines market size is projected to reach USD 21.00 billion by the end of 2026. The advancements in molecular genomics have opened up a huge potential for market growth. According to a report by Fortune Business Insights, titled “Recombinant Vaccines Market Size, Share & Industry Analysis, 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 (Hospital & Retail Pharmacies, Government Suppliers and Others) and Geography Forecast, 2019-2026,” the market size was USD 8.97 billion in 2018. Driven by increasing number of regulatory approvals, the market will exhibit a CAGR of 11.3% during the forecast period, 2019-2026

An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.

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Increasing Number of Regulatory Approvals Will Aid Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of regulatory clearances have made the highest impact on the market in recent years. In December 2019, Merck received approval from the US Food and Drug Administration for a new vaccine. The ERVEBO was the first ever Ebola vaccine. The approval for ERVEBO will encourage several manufacturers. In October 2017, the USFDA approved GlaxoSmithKline’s new vaccine SHINGRIX which is used for the treatment of herpes zoster. The report highlights the importance of these vaccines on the global market. The report includes a few of the other drug approvals of recent years and gauges their impact on the market.

North America to Emerge Dominant; Emphasis on Product R&D to Aid Growth

The report offers insights into the ongoing recombinant vaccine market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, North America is likely to emerge dominant in the coming years. The demand for recombinant vaccines has risen dramatically across this region, due to the efficacy provided by the recombinant vaccines in treating complex viral diseases. As of 2018, the market in North America was worth USD 4.12 billion in 2018 and this value is likely to increase further in the coming years. Besides North America, Europe will witness considerable growth due to lesser adoption of immunization policies in under-developed European countries.

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