Virus-Like Particle Vaccine Market Size is predicted to witness a 8.24% CAGR during the forecast period for 2023-2031.
Virus-like particle (VLP) vaccines are a type of vaccine that mimics the structure of viruses but lacks the genetic material necessary for replication and causing disease. They are created to stimulate an immune response in the body, leading to immunity against specific pathogens. They comprise viral proteins that self-assemble into particles that resemble whole viruses. Various variables drive the virus-like particle (VLP) vaccine market, representing the complex interplay of scientific advances, regulatory environment, public health policies, and market demand. Continuous advances in biotechnology and genetic engineering techniques improve the design, manufacture, and scalability of VLP vaccines, making them more commercially viable.
Furthermore, the market is fueled by the high frequency of infections like HPV, which can be protected using VLP vaccinations. Emerging infectious illnesses also stimulate the development of VLP vaccines that target new pathogens.
However, the pandemic disrupted global supply chains, affecting vaccine manufacture and delivery, including raw materials, vials, and syringes. These disruptions impacted vaccination supplies, especially possible VLP vaccines. On the other hand, the urgent need for a COVID-19 vaccine has expedited research into numerous vaccine technologies, including VLPs. Many researchers concentrated on creating VLP-based vaccinations for SARS-CoV-2, which causes COVID-19. This resulted in more funding and joint initiatives, which fueled innovation in the VLP vaccination industry.
Competitive Landscape
Some Major Key Players In The Virus-Like Particle Vaccine Market:
- Novavax
- GlaxoSmithKline
- Merck & Co.
- Medicago
- Dynavax Technologies
- Cytos Biotechnology
- iBio
- Sanofi Pasteur
- Bavarian Nordic
- GeoVax Labs
- Others
Market Segmentation:
The Virus-Like Particle Vaccine Market is segmented on the basis of application type, stage, and distribution channel. As per the application segment, the market is segmented into infectious diseases, cancer immunotherapy, and others. The stage segment includes the pre-clinical research stage and approved vaccines. By distribution channel segment, the market is segmented into healthcare providers, government vaccination programs, and retail pharmacies.
Based On Stage, The Approved Vaccines Segment Is A Major Contributor To The Virus-Like Particle Vaccine Market.
The approved vaccines category is expected to hold a major share of the global Virus-Like Particle Vaccine Market in 2022. This is since these vaccines have completed rigorous clinical trials, obtained regulatory approval, and established a track record of safety and efficacy. Because of their proven usefulness in preventing diseases, healthcare practitioners and governments prioritize authorized vaccinations, assuring widespread uptake. This is also due to public trust in well-established vaccinations, which have become a cornerstone of global immunization programs.
The Healthcare Providers Segment Witnessed Rapid Growth.
The healthcare providers segment is likely to grow at a rapid rate in the global Virus-Like Particle Vaccine Market owing to growing concerns about the dangerous effects of synthetic chemicals on the skin. Hence, with the growing popularity of bio-based beauty products and personal hygiene products, there is an increase in demand for green chemicals in the personal care sector, especially in countries such as the US, Germany, the UK, China, and India.
In The Region, The North America Virus-Like Particle Vaccine Market Holds A Significant Revenue Share.
The North America Virus-Like Particle Vaccine Market is expected to record the maximum market share in terms of revenue in the near future. This is owing to its critical role in the delivery of medical services & patient care. This sector includes hospitals, outpatient facilities, doctors, and other healthcare providers who provide several services. Several factors, including population increase and rising healthcare demands, influence the segment's growth. Furthermore, advances in medical technology and therapies have broadened the scope of healthcare services, increasing demand for healthcare providers.
Recent Developments:
- In March 2020, iBio, Inc. announced that the immunization studies for its SARS-CoV-2 Virus-Like Particle ("VLP") program ("IBIO-200") were underway at Texas A&M University System ("TAMUS") laboratories. The work was performed as part of the Master Joint Development Agreement established between iBio and TAMUS in 2016.
Virus-Like Particle Vaccine Market Report Scope:
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 8.24% from 2023 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Application Type, Stage, Distribution Channel |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South Korea; South East |
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Competitive Landscape |
Novavax, GlaxoSmithKline, Merck & Co., Medicago, Dynavax Technologies, Cytos Biotechnology, iBio, Sanofi Pasteur, Bavarian Nordic, GeoVax Labs and Others |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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