Report : North America Virus-like Particles Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Hepatitis, Cancer/HPV, and Gaucher disease), Source (Yeast, Insect Cell, Plant, and Others), and Application (Vaccines and Therapeutics)
Hepatitis Segment to dominate North America Virus-like Particles Market during 2021–2028
According to a new market research study on “North America Virus-like Particles Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product type, Source, Application and Country,” is expected to reach US$ 3,312.49 million by 2028 from US$ 1,928.37 million in 2021. The market is estimated to grow at a CAGR of 8.0% from 2021 to 2028. The report provides trends prevailing in the North America virus-like particles market along with the drivers and restraints pertaining to the market growth. The elevating role of virus-like particles in therapeutic developments and studies, growing prevalence of infectious viral diseases, and raising potential applications in therapeutics and diagnostics are the major factor driving the growth of the North America virus-like particles market. However, presence of alternative technologies for viral vaccine production hinder the growth of North America virus-like particles market.
In the North American provinces, the US was the most affected country due to COVID-19. This was due to the US showing an uneven response during the onset of COVID-19 coupled with insufficiencies in testing resources. To overcome the transmission rate of COVID-19, the development of the vaccine was on edge for all biopharmaceutical companies with a high focus on recombinant COVID-19 vaccines. As recombinant vaccines include recombinant spike protein vaccines, recombinant receptor-binding domain vaccines, and virus-like particles, it has gained high importance. Also, the development of more effective and targeted forms of VLP by modification of the surface of the particles in a fashion that they can be introduced into specific cells or tissues is likely to grow in the forthcoming years. Recent advances in the production of VLP's involve the different types of expression systems for the development as well as application of vaccines in the prevention of infectious diseases. In the North American region, countries where COVID-19 vaccines are currently being developed, including the US, Canada, and Cuba. Among these countries, the US has eleven vaccines, while Canada and Cuba possess three vaccines. Additionally, there are six protein subunit vaccines comprising of VLPs, five vector vaccines, and five nucleic acid vaccines. But the manufacturing of virus-like particles still remains challenging in terms of design, purification, and storage. Challenges are majorly associated with the bioprocessing technique that deals with respiratory issues. However, with strong advancement in technology it ultimately develops a series of novel, stable, and efficient VLP based vaccine candidates in the near future.
The North America virus-like particles market is segmented on the basis of product type, source, application, and country. Based on product, the market is segmented into hepatitis, cancer/hpv, and gaucher disease. In 2021, hepatitis segment held the largest share in the market, and cancer/hpv is expected to be the fastest growing segment during the forecast period. Based on source, the market is segmented into yeast, insect cell, plant, and others. In 2021, yeast segment held the largest share in the market, and insect cell is expected to be the fastest growing segment during the forecast period. Based on application, the market is bifurcated into vaccines and therapeutics. In 2021, vaccines segment held the largest share in the market, and it is also expected to be the fastest growing segment during the forecast period. Similarly Based on country the market is segmented into the US, Canada, and Mexico. In 2021, the US held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.
Merck & Co., Inc.; GlaxoSmithKline plc.; Pfizer Inc.; Sanofi; Serum Institute of India Pvt. Ltd.; BHARAT BIOTECH; LG Chem; VBI Vaccines Inc.; and Dynavax Technologies are among the leading companies in the North America virus-like particles market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Sanofi has completed the acquisition of Kadmon Holdings, Inc. The acquisition further strengthens growth and expansion for the General Medicines portfolio
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