The Viral Vector Vaccines Market is all set to witness staggering growth in the upcoming period. With technological advancements under its belt, the healthcare vertical is witnessing hi-tech demands. In other words, the healthcare personnel is expected to be abreast with the operations of high-tech devices like handheld computers, smart infusion pumps, and so on. Also, utmost care needs to be taken concerning scanning right the very first time along with vibration alert to not disturb the sleeping patients.
According to latest research by Persistence Market Research, The viral vector vaccines demand is projected to grow at a CAGR of 6-7% in forecast period 2021-2031. The reason for this is high adaptation of simple and primary method for vaccine development.
Viral vector have many of advantages like the manufacturing process is easy and can be prepared faster than the other vaccines. Viral vector have various advantage like highly specific delivery of genes to target cells and introduction of strong immune responses and increased cellular immunity. This increases the growth of this market in forecast period.
The Existing market players are focusing Constantly on Innovation and finding the missing part in the technologies and viral vector for vaccine production is traditional and very effective method. Viral vector vaccines use a improved form of different vector to deliver important instructions to our cells. They do this by using a modified virus to deliver genetic code for antigen, in the case of COVID-19 spike proteins found on the surface of the virus, into human cells.
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The major advantage of viral vector based vaccines is to enhance immunogenicity without an induce a strong cytotoxic T lymphocyte (CTL) response to disregard virus-infected cells. It is an easy and fast weapon to fight against the new outbreaks and the existing infectious diseases.
The viral vector based vaccine can be delivered and prepare genetically stable vaccine. This also came into demand due to covid19 out break and viral vector are safe, less toxic, cell specificity, high identification of host cell. This factor can boost the market.
Ever since the COVID-19 outbreak in 2019, the incidence rate of the disease has been quite high. It has affected almost all countries across the globe. Since the recognition of COVID-19, there has been an exponential rise in the number of cases worldwide. While the developed countries, such as the U.S. and Europe are greatly affected, developing countries such as India are no different.
According to the WHO, in the U.S., from January 3, 2020 to July 1, 2021, a total of 33,317,803 confirmed cases of COVID-19 were reported.
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While the incidence rate in some countries may have come down due to rigorous vaccination programs. This create demand for vaccines and give the positive growth to market globally due to covid-19 pandemic.
U.S and Canada having more awareness and adoption rate of vaccine this give positive impact on viral vector vaccines. U.S and Canada are the area where there is huge research & development activities are carried out, addition of technologies, strategic improvements, and others are the reason for the table topper of the market.
Growing prevalence of influenza cases and rising demand for the vaccines is boosting the growth of the market in the region. The presence of sophisticated vaccination centers and hospitals may elevate the growth.
Europe is also showing high demand outlook due to several factors like better technical presence and Opportunity is existing. The healthcare specialists in this region are very innovative and advanced hence there is surge in research for the viral vector vaccine. a
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Europe is projected to arise as a highly profitable market, supported by surging demand for advanced treatment and medical procedures in the forecast period. Rise in expenditure on the research and expansion in this segment in Europe leads to boost for demand.
Who are the Key Manufacturers and Suppliers of Viral Vector Vaccines?
According to PMR analysis,
- Sanofi Pasteur Inc. (Sanofi S/A)
- AstraZeneca
- CSL Ltd. (Seqirus)
- Abbott
- GlaxoSmithKline Plc.
- Serum Institute of India Pvt. Ltd.
- Pfizer
- BioNTech
- F.Hoffman La Roche Ltd
- Novartis
- Sinnovac Biotech Ltd
- Moderna Therapeutics
- CureVac
are identified as the key players of the viral vector vaccines.
Pfizer has recently entered into a collaboration with German biotech BioNTech to develop new vaccine technology.
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Key Segments:
By Vector Type
- Retrovirus
- Lentivirus
- Adenovirus
- Adeno-associated virus
- Sendai virus
By Route of Administration
- Intramuscular
- Subcutaneous
By Application
- Gene Therapy
- Vaccinology Development
By Distribution Channel
- Hospitals
- Vaccination center
- Specialized clinics
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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