Recombinant Vaccine Market Is Estimated To Witness High Growth Owing To Rising Investments In R&D Activities

Market Overview:

Recombinant vaccines are produced using recombinant DNA technology. Recombinant DNA technology involves combining genes from two different organisms to produce new combinations of genes. This allows for the production of pure antigenic proteins that stimulate the immune system and offer protection against infectious diseases. Some of the key recombinant vaccines target diseases such as hepatitis B, influenza, human papillomavirus, diarrhea caused by ETEC bacteria, and others.

Market Dynamics:

The recombinant vaccine market is driven by rising investments in R&D activities for the development of new vaccines. For instance, in October 2022, Bharat Biotech, an Indian biotechnology company announced investment worth US$ 200 million towards expanding its research and innovation facility in Genome Valley, India. The expansion aims to ramp up the production of new generation vaccines including recombinant and viral vaccines.

Additionally, growing prevalence of infectious diseases due to changing lifestyle and lack of immunity is also fueling the demand for effective vaccination which is driving the recombinant vaccines market growth. For example, according to the World Health Organization (WHO), an estimated 37.9 million people were suffering from HIV/AIDS globally in 2020. Recombinant vaccines help in preventing spread of infectious diseases by boosting immunity.

SWOT Analysis

Strength: Recombinant vaccine offers enhanced immunogenicity and efficacy, due to improved target specificity and expression of multiple antigens. It also provides high purity, scalability and consistency in production compared to live attenuated vaccines. Recombinant vaccines eliminate risk of transmission of disease from live vaccines. The production process is more controlled compared to traditional vaccine production methods.

Weakness: High costs involved in R&D and production of recombinant vaccines. Regulatory approvals for recombinant vaccines are complex and time-consuming which increases the costs further. Vaccine hesitancy and skepticisms among patients regarding efficacy and safety of newer technologies.

Opportunity: Growing burden of infectious diseases globally increases the demand for advanced vaccine technologies. Increasing focus on development of vaccines for infectious diseases lacking approved vaccines presents significant revenue opportunities. Expanding applications of recombinant vaccine technology in developing multi-disease vaccines and universal vaccines.

Threats: Strong competition from conventional vaccines limits the uptake of new recombinant vaccines. Stringent regulations and lengthy approval processes hamper timely market access. Risk of product liability lawsuits in case of any unexpected adverse effects. Dependence on public funding for R&D constrains commercial incentives.

Key Takeaways

The global recombinant vaccine market is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing burden of infectious diseases and growing product pipelines.

Regional analysis

North America dominated the global recombinant vaccine market in 2022, accounting for over 34% share. Higher healthcare spending and presence of key players driving clinical research and development of enhanced vaccines have attributed to the large market share of the region. Asia Pacific is expected to witness fastest growth during the forecast period owing to rising healthcare infrastructure and increasing focus of international players in emerging countries.

Key players

Key players operating in the recombinant vaccine market are Merck & Co., Inc., Novartis AG, Pfizer Inc., Sanofi, GSK plc., GC Biopharma, Bayer AG, Bharat Biotech, Serum Institute of India Pvt. Ltd., Sartorius AG, Johnson & Johnson Services, Inc., and Bio Farma. The players are mainly focused on expansions, mergers, and new product launches to strengthen their market postion.