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- Live Attenuated
Recombinant Vaccines Market was estimated to be valued at USD 11,507.3 million in 2022, and it is expanded to grow at a significant CAGR of 5.3% over 2023-2029. The main factors driving the global recombinant vaccine market are the full-fledged recombinant properties in providing the effectiveness and safety of the patient getting immunized. Additionally, the increasing prevalence of viral diseases in countries worldwide is anticipated to boost the market. The growing population and strict regulations for infant immunization are projected to drive the overall market. Another significant driving force is the improvement of technology in the fields of recombinant DNA technology, genetics, and proteomics, which is boosting vaccination R&D. As a result, the number of clinical trials is increasing. Based on the Route of Administration, the parenteral segment has a significant share of the global recombinant vaccines market with a share of 87.3% in 2022 the global market and is projected to grow at 4.9% CAGR from 2023 - 2029. The parenteral vaccines, such as enhanced potency inactivated polio vaccine, Haemophilus influenzae type B, hepatitis B virus (HBV), and other non-mucosal vaccines, have been highly effective in preventing systemic disease during subsequent exposure to natural infection.
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The market for recombinant vaccines is predicted to develop as the incidence of zoonotic diseases rises, and new technologies emerge. Furthermore, the marketplace is likely to be fueled by continued investment in vaccine research and development and growing public awareness of vaccines. The high cost associated with recombinant vaccines would inhibit the market.
The CAGR of the recombinant vaccines market is 5.3% over the forecast period (2023 - 2029)
Merck KGaA, Novartis AG, GlaxoSmithKline Plc., GC Biopharma, Bayer AG, Sanofi SA, Pfizer Inc.
The Asia Pacific is the fastest-growing region for the recombinant vaccines market