Recombinant Vaccines Research Report 2024: Market Poised for Accelerated Growth, Set to Reach $34.18 Billion by 2034 from $10.14 Billion in 2023
Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The "Global Recombinant Vaccines Market Analysis & Forecast to 2024-2034" report has been added to * ResearchAndMarkets.com's* offering.
The global recombinant vaccines market is experiencing a significant surge, with anticipated expansion from USD 10.14 billion in 2023 to USD 34.18 billion by 2034, reflecting a compound annual growth rate (CAGR) of 11.68% from 2024 to 2034. This robust growth is driven by the escalating prevalence of infectious and zoonotic diseases, coupled with intensive research and development endeavors by key market stakeholders.
An upward trend in innovative vaccine launches, underpinned by increased awareness of the benefits of vaccination and the proliferation of clinical trials, is also contributing to market advancement. Moreover, the advent of cutting-edge technologies and the substantial regulatory endorsements of products play a substantial role in fostering market growth. The recent FDA approval of GSK plc's respiratory syncytial virus vaccine, Arexvy, for older adults, exemplifies this dynamic progression.
*Market Segmentation Insights:*
· *Disease Outlook:* The hepatitis B vaccine segment triumphed in revenue generation within the recombinant vaccines arena in 2023, thanks to the introduction of efficacious immunization solutions. Conversely, the cancer vaccines segment is projected to flourish remarkably over the forecast period, propelled by a heightened awareness of human papillomavirus-related maladies.
· *Type Outlook:* Subunit recombinant vaccines dominated the market in 2023 due to advancements in recombinant protein creation and a strong focus on the development of novel vaccine candidates.
· *Distribution Channel Outlook:* Hospitals were the leading distribution channel, while inoculation centers are expected to grow rapidly, influenced by growing investments and regulatory green lights.
· *End-user Outlook:* The adult segment led market revenues, with significant utility in combating infectious diseases. The pediatric end-user segment is anticipated to rise swiftly, catalyzed by increased regulatory approvals.
· *Regional Outlook:* North America maintains a majority market share, attributed to robust vaccine uptake and substantial investments from key players. The Asia Pacific region is foreseen to exhibit the quickest CAGR through 2034, buoyed by increased approvals and a spate of new vaccine introductions.
*Examining the Competitive Landscape:*
The recombinant vaccines market is highly competitive, characterized by strategic collaborations, mergers & acquisitions, and an unwavering commitment to innovation. Leading market participants are diligently working to enhance vaccine efficacy and bridge the gap between demand and supply.
As infectious diseases continue to pose global health challenges, the recombinant vaccines market races ahead to offer groundbreaking solutions. This comprehensive market forecast underscores the vital role of recombinant vaccines in fortifying public health defenses worldwide.
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 200
Forecast Period 2023 - 2034
Estimated Market Value (USD) in 2023 $10.14 Billion
Forecasted Market Value (USD) by 2034 $34.18 Billion
Compound Annual Growth Rate 11.6%
Regions Covered Global
*Companies Mentioned*
· AstraZeneca Plc.
· Merck & Co. Inc.
· Dynavax Technologies Corporation
· Emergent BioSolutions Inc.
· Novartis AG
· GlaxoSmithKline Plc.
· Pfizer Inc.
· Novavax Inc.
· Sanofi
· Bayer AG
· GC Biopharma
· Serum Institute of India Pvt. Ltd.
· Bharat Biotech
· Johnson & Johnson Services Inc.
· Bio Farma
· Sartorius AG
For more information about this report visit https://www.researchandmarkets.com/r/w1nj6i
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*Attachment*
· Global Recombinant Vaccines Market
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