Report Overview

The global recombinant vaccines market was pegged at US$ 11.71 billion in 2021 and is expected to witness a CAGR of 10.4% during the forecast period from 2022 to 2030.

Market Fundamentals

Recombinant vaccines are developed by combining genetic material from different bacteria, viruses, or other organisms. Gene-splicing, genomics, and recombinant deoxyribonucleic acid technologies have changed vaccine development bringing more novel products to the market. To ensure vaccination efficacy and safety, these vaccines are genetically designed and created in a lab by eliminating the risk of infectious viral antigens. These vaccines have high potential to protect from various diseases than traditional vaccines. 

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Market Dynamics

The rapid growth of the global recombinant vaccines market can be attributed to various factors such as the growing prevalence of infectious diseases and chronic diseases, rising immunization initiatives across the globe, and increasing awareness among the population. Additionally, growing pet adoption, increasing incidence of zoonotic diseases, and growing R&D activities also positively impact the growth of this market. Moreover, increasing technological advancements, a strong pipeline, and rising vaccination programs are further expected to fuel market growth. However, the high cost of certain vaccines and the lack of immunogenicity of some vaccines can be restraining factors in the global recombinant vaccines market.

Market Ecosystem

The global recombinant vaccines market has been analyzed from four perspectives: type, indication, distribution channel, and region. 

Recombinant Vaccine Market by Type

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Based on type, the global recombinant vaccines market has been bifurcated into subunit recombinant vaccines and attenuated recombinant vaccines. The subunit recombinant vaccines segment holds the largest share. This segment has opened new avenues for producers to defend against a wide range of viral antigens. Additionally, the high efficiency of the subunit recombinant vaccine led to a hike in the sales of this variant of the recombinant vaccines.

Recombinant Vaccine Market by Indication 

Based on indication, the global recombinant vaccines market has been segmented into human papillomavirus, herpes zoster, hepatitis B, meningococcal B, rotavirus, and others. Hepatitis B dominates the market with the largest revenue share. This is attributed to the rising prevalence of hepatitis B globally and the increasing development of efficient and blockbuster hepatitis B vaccines. Additionally, the human papillomavirus segment has also contributed greatly to the growth of the global recombinant vaccines market ascribing to the rising prevalence of HPV among the population. 

Recombinant Vaccine Market by Distribution Channel

Based on distribution channels, the global recombinant vaccines market has been segmented into hospital pharmacies, online pharmacies, and retail pharmacies. The hospital pharmacies segment occupies the largest revenue share in the market and is anticipated to maintain its dominance over the projected period. The large patient volume inflow, increasing multispecialty hospitals in developing countries, and presence of skilled professionals in hospital settings also contribute to the growth of this segment.

Recombinant Vaccine Market by Region

Geographically, the global recombinant vaccines market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America region acquires high revenue shares in the market. The growth of this region can be attributed to various factors such as the presence of advanced technologies, growth in R&D activities resulting in the continuous launch of novel products and building a strong product pipeline. Furthermore, developed healthcare infrastructure, large healthcare spending, and the presence of major market players also encourage the development of the regional market. Additionally, growth in the cases of diseases such as human papillomavirus and hepatitis B also contributes to the market growth in this region. Europe comes second in terms of revenue share owing to the availability of advanced and developed healthcare infrastructure and the rapid adoption of novel technologies. 

Asia Pacific is an emerging region in this market due to the emerging healthcare system, growing aged population, increasing cases of chronic or infectious diseases among the people, and many more. Furthermore, growing R&D activities, and increasing healthcare expenditure further contribute to the growth of the recombinant vaccines market in the Asia Pacific region.

Competitive Landscape

The prominent players operating in the global recombinant vaccines market are:  

• Novartis AG
• Pfizer Inc.
• Sanofi AG
• Merck & Co. Inc.
• GSK Plc
• Dynavax Technologies Corporation
• Serum Institute of India Pvt. Ltd
• Bayer AG
• Johnson & Johnson Services Inc.
• GC Biopharma 
• Bharat Biotech International Limited
• AstraZeneca Plc

Strategic Developments

• In Oct. 2021, Xiamen Innovax Biotech CO., LTD. (Innovax), launched Cecolin, a vaccine for human papillomavirus, which received prequalified from WHO (World Health Organization. This prequalification was made as an alternative option with affordable prices and long-term access.

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