recombinant vaccines market is expected to exhibit a CAGR of 6.8% during the forecast period. Vaccines that are produced using recombinant DNA technology or genetic engineering are called recombinant vaccines.
The recombinant vector vaccine strategy enables triggering of T- cells or B-cells thus generating a strong cell-mediated or humoral immune response in the body against that particular immunogen. The global recombinant vaccines market is majorly driven by increasing technical advanced research, increasing number of regulatory approvals, the high prevalence of infectious diseases and growing penetration of key market players.
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The global recombinant vaccines market is segmented on the basis of product type, diseases, and end-user. According to the product, the market is segmented into subunit recombinant vaccines, attenuated recombinant vaccines, and vector recombinant vaccines,
Considering the disease type, the market is segmented into pneumococcal disease, cancer, hepatitis B, influenza, DPT, and others.
On account of end-user, the market is segmented into hospitals & clinics, pediatrics, adults, veterinary, and others. Veterinary is further segmented to poultry and livestock.
Based on the region the market is segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. Americas region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
Competitive Analysis by Major Key Players
Some of the key players in the recombinant vaccines market are Abiomed, Emergent Bio Solutions, Inc., GlaxoSmithKline, Johnson & Johnson, Sanofi Pasteur SA, Serum Institute of India Pvt. Ltd, Mitsubishi Tanabe Pharma Corporation, Daiichi Sankyo, and Pfizer, Inc.
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Comprehensive Regional Analysis
Americas is the top market leader in the recombinant vaccines market owing to increasing advances in research in the field of molecular biology and genetic engineering as well as increasing prevalence of infectious diseases and cancer. For instance, according to the stats presented by breast cancer organization about 12.4% of U.S. women are prone to develop invasive breast cancer over the course of her lifetime.
Europe is the second largest market and holds a healthy share in the global recombinant vaccines market due to major driving factors like availability of advanced treatment facilities, increasing healthcare expenditure along with the alarming rate of cancer and infectious diseases. For instance, the European Commission stated that the R&D spending by the pharmaceuticals and biotechnology sectors grew by 8.7% in 2014.
Asia Pacific is expected to be the fastest growing market owing to the faster adaptation of healthcare technology, increasing patient pool due to cancer and infectious diseases, government initiatives to increase the healthcare quality, favorable insurance, and reimbursement policies. Key players have set up their regional headquarters and manufacturing plants in Singapore, China, Japan, Korea, and Australia thus, boosting the growth of recombinant vaccines market.
The Middle East & Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access and availability of treatment facilities. The Middle East has the largest market share owing to the development of healthcare industry and rising availability of specialty care centers in the United Arab Emirates and Saudi Arabia.