Recombinant Vaccines Market Size, Share, Growth Analysis, By End user(Pediatric and Adult), By Distribution channel(Hospitals and Vaccination centers), By Region - Industry Forecast 2024-2031

Drivers

Increase in Sales of Genetically Modified Vaccines

• An instrumental driver of market growth is the extensive utilization of recombinant properties, which significantly enhances the efficacy and safety of vaccines administered to patients. The inherent advantages of recombinant technology enable the rapid and large-scale production of vaccines, mitigating the risk of shortages in supply. Moreover, these vaccines are devoid of infectious viral particles, minimizing the potential for infection and rendering them safe for individuals with compromised immune systems. The notable benefits associated with recombinant vaccines have spurred deliberate efforts among manufacturers to focus on the development of innovative products targeting viral diseases. This endeavor involves leveraging advanced DNA technology, genomics, and other cutting-edge biotechnology techniques, collectively contributing to the evolution of more effective and safer vaccines.

Restraints

High Cost Associated with Per Dose Vaccine

• Despite the heightened prevalence of both chronic and infectious diseases, the adoption of vaccines is impeded by various factors, with the high cost per dose being a significant hindrance. While international organizations are diligently contributing to the global vaccination effort by supplying millions of doses across diverse regions, the elevated cost of vaccination remains a barrier for many populations. Despite concerted efforts to reach every corner of the world, certain regions continue to face challenges in vaccine accessibility due to the associated high costs.