Rise in prevalence of cancer and infectious diseases in humans and animals and surge in the number of antibiotic-resistant pathogens drive the growth of the global DNA vaccine market
PORTLAND, Ore., Jan. 18, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "DNA Vaccine Market by Product Type (Oncept, West Nile-Innovator, and Apex-IHN), Type (Therapeutic Vaccine, and Prophylactic Vaccines), and End User (Veterinary Clinics and Veterinary Hospitals): Global Opportunity Analysis and Industry Forecast, 2021?2030." According to the report, the global DNA vaccine industry generated $422.77 million in 2020, and is projected to reach $774.43 million by 2030, witnessing a CAGR of 6.3% from 2021 to 2030.
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Drivers, restraints, and opportunities
Rise in prevalence of cancer and infectious diseases in humans and animals and surge in the number of antibiotic-resistant pathogens drive the growth of the global DNA vaccine market. However, lack of immunogenicity associated with DNA vaccines and limited knowledge about the effects of DNA vaccines on humans hinder the market growth. On the other hand, development of novel vaccines using DNA technology creates new opportunities in the coming years.
The Oncept segment to continue its dominance during the forecast period
Based on product type, the Oncept segment contributed to the highest share in 2020, accounting for nearly half of the global DNA vaccine market, and is estimated to continue its dominance during the forecast period. This is due to rise in prevalence of canine melanoma cancer in animals, especially in dogs, which in turn, increased the demand for Oncept vaccine. However, the West Nile-Innovator segment is expected to witness the largest CAGR of 6.7% from 2021 to 2030.
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The veterinary hospitals segment to continue its leadership status during the forecast period
Based on end user, the veterinary hospitals segment accounted for the largest share in 2020, holding nearly three-fourths of the global DNA vaccine market, and is expected to continue its leadership status during the forecast period. This is due to increase in incidences of animal diseases, rise in hospital admissions of animals for vaccine dose, and availability of trained veterinarians in the hospitals. However, the veterinary clinics segment is estimated to manifest the highest CAGR of 6.6% from 2021 to 2030, owing to rise in the number of veterinary clinics due to growth in ownership of companion animals as well as the availability of trained and licensed veterinarians in clinics.
The U.S. to continue its lead position in terms of revenue by 2030
Based on region, the U.S. held the highest market share in 2020, accounting for nearly 88% of the global DNA vaccine market, and is expected to continue its lead position in terms of revenue by 2030. This is due to presence of major key players, well-established healthcare infrastructure, high purchasing power, and higher healthcare expenditure levels. However, Canada is expected to portray the fastest CAGR of 7.1% during the forecast period, owing to product approvals in the country and presence of well-established healthcare infrastructure.
Leading Market Players
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