The [FURL=https://www.industryarc.com/Research/Recombinant-Vaccines-Worldwide-Sales-Market-Research-508301?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Recombinant Vaccines Market[/FURL] size was estimated at $12.68 billion in 2020, projected to grow at a CAGR of 13.7% during the forecast period 2021-2026. Initially, vaccinations were made on a trial-and-error basis, depending on pathogen attenuation or inactivation. Currently, the advent of advance technology such as Genetic engineering, genomics, and recombinant deoxyribonucleic acid (DNA) technology have revolutionized vaccine production thereby bringing safe and effective vaccines to market.These vaccines are genetically manufactured and modified in the lab such that, the risk of infectious viral antigen is eradicated while ensuring vaccine efficacy and protection. The demand for recombinant vaccines is being driven by rising disease incidence and emerging technologies. The rise in diseases caused by bacteria or viruses, such as coronavirus, swine flu, malaria, HPV, and other diseases, has increased vaccination demand and led to the eradication of diseases like polio in a few countries. Moreover, with technological advancements, new vaccines are being developed that are more effective than traditional vaccines and have negative side effects are the major factor predicted to drive the market growth. However, factors such time taken to develop a vaccine along the high cost associated with each vaccine dose are restricting market development during the forecast period 2021-2026.
Key Takeaways
Geographically, North America region held 42.2% of the total market share in 2020 owing to the rising geriatric population, growing disease incident and increasing health concerns.
Increasing incidence of infectious diseases such as HPV and Hepatitis B along with Covid-19 is a major driving force for the Recombinant Vaccines Market during the forecast period 2021-2026.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Recombinant Vaccines Market.
Request for Sample of the Report @ [FURL]https://www.industryarc.com/pdfdownload.php?id=508301[/FURL]
Recombinant Vaccines Market Drivers
Increasing incidence of infectious diseases
Increasing incidence of infectious diseases leading to Covid 19, Hepatitis-B and other diseases is a major factor driving the Recombinant Vaccines Market during the forecast period 2020-2025.
Technological Advancement in Recombinant Vaccines Market
Technological Advancements in the fields of recombinant DNA technology, genetic engineering, and proteomics, which is improving vaccine R&D is another major factor driving Recombinant Vaccines market during the forecast period 2020-2025.
Recombinant Vaccines Market top comapanies are GlaxoSmithKline, Sanofi, Novartis AG, Merck & Co. Inc, Pfizer Inc., Bharat Biotech, Bayer AG, Dynavax Technologies and Serum Institute of India Pvt Ltd.
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.