Recombinant Vaccines Market Industry Forecast till 2025
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According to World Health Organization (WHO), around 18 million fatalities were caused due to inaccessibility of treatment for their illness. According to World Health Organization Report 2017, in the U.S. it is possible to prevent 2 million - 3 million deaths every year by immunization and 1.5 million deaths are easily avoided by immunization. There were around 19.5 million infants did not get basic vaccine. There is constant development in technology which lead to the manufacture of more effective vaccines for disease and companies are working for the development of new vaccines for various disease such as zika virus, cancer and others.
The global recombinant vaccine market was valued at US$ 830.2 million in 2016 and is expected to witness a robust CAGR of 6.0% during the forecast period (2017 – 2025).
Increase in the incidence of zoonotic diseases and emerging technologies expected to support the growth of recombinant vaccines market
There is a constant increase in diseases caused by bacteria or virus such as swine flu, malaria, HPV and other diseases, which has raised the demand of vaccination and lead to the eradication of diseases such as polio, and tetanus in few countries. Whit the development in technology there is development in vaccines, which are more effective than conventional vaccines and does not lead to any side effect. These vaccines are easy to administer in the body orally, intramuscular or intradermal. In the U.S. there were around 212 million malaria cases and 429,000 deaths from malaria is reported in 2015. According to Centers for Disease Control and Prevention report 2017, in the U.S. there were around 49.9% of the children between the ages of 6 months to 17 years received an influenza vaccine.
Continuous investment in research & development for the development of new vaccines and increased awareness and pet adoption are expected to fuel the growth of recombinant vaccines
There are various companies working on the development of vaccine for various disease, which have affected human beings in short span of time such as Ebola, Zika, and H1N1 flu. The companies also working for the development of cancer vaccines different type of cancer includes lung cancer, blood cancer, skin cancer, bladder cancer, brain cancer, kidney cancer, prostate cancer, solid tumors cancer , breast cancer are the target area for recombinant vaccine development, which may expected to support the growth of recombinant vaccine market in the near future. In 2012, according to the World Cancer Research Fund International, globally around 1.7 million new cases of breast cancer are diagnosed. Breast cancers are being targeted in active NCI supported cancer prevention or treatment clinical trials using vaccines. The vaccine therapy with or without trastuzumab in treating patients with stage IV breast cancer is in phases II clinical trial. The folate receptor alpha peptide vaccine with GM-CSF in patient with triple negative breast cancer trial phase II.
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According to National Cancer Institute, in the U.S. there were around 1,685,210 new cases of cancer was reported and 595,690 people died from cancer in 2016. According to American Society for the Prevention of Cruelty to Animals, in the U.S. there were around 3.2 million shelter animals are adopted each year (1.6 million dogs and 1.6 million cats) and adoption of pets are expected to increase, which in turn raise the demand for recombinant vaccines for animals in near future.
Some major key players in the recombinant vaccines market include Merck & Co. Inc., Novartis AG, Protein Science Corporation, GlaxoSmithKline Plc., Green Cross Corporation, Bayer AG, Sanofi S A, Pfizer Inc., and Bharat Biotech.
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