The virus-like particles market in Asia Pacific is expected to grow from US$ 1,018.83 million in 2021 to US$ 1,769.02 million by 2028; it is estimated to grow at a CAGR of 8.2% from 2021 to 2028.
Various players in the healthcare market and research organizations are actively involved in product innovations and developments. The use of virus-like particles is an emerging approach used in the biopharmaceuticals industry. As virus-like particles lack the viral content, they are easier to handle than the actual viral components. The VLPs can be used for aiding drug delivery, imaging, immunotherapy, and theragnostic. For instance, as per a study published in the NCBI in June 2020, VLP can be used in the form of nanoparticles in applications such as photothermal therapy, PET and CT imaging, MRI contrast agent carriers, optical imaging, inflammatory and autoimmune disease vaccines, cancer immunotherapy, and small molecule drug delivery (in cancer therapy). Thus, such potential applications of VLPs are expected to provide growth opportunities to market players during the forecast period.
According to the International Monetary Fund (IMF) report, growth in Asia Pacific was expected to remain stall at zero percent in 2020. This was the worst growth performance in almost 60 years involving the Global Financial Crisis (4.7%) and the Asian Financial Crisis (1.3%). Downward revisions were substantial that ranging from 3.5% in the case of Korea but have appeared to manage with the slow spread of coronavirus due to minimized prolonged production shutdowns accounting for 9% in Australia, New Zealand, and Thailand. These countries were a large hit due to the worldwide tourism shutdown and, in the case of Australia, by lower commodity prices. The Asia Pacific, where COVID-19 vaccines are currently being developed, includes South Korea, China, Japan, Thailand, and Vietnam. Among these, China has 15 vaccines, India and South Korea possess three vaccines, Japan has two vaccines, and Thailand and Vietnam have one vaccine. Among these vaccines it include ten inactivated vaccines, six protein subunit vaccines, seven viral vector vaccines, and six nucleic acid vaccine. Furthermore, promoting a safe, equitable, and effective vaccine is a top priority in the Asia Pacific region. As per the report by the Asian Development Bank, in December 2020, The Asian Development Bank (ADB) has launched a US$9 Billion vaccine initiative with the Asia Pacific Vaccine Access Facility (APVAX) that will offer rapid and equitable support to the developing member countries (DMCs) to procure and deliver effective and safe COVID-19 vaccine. Through vaccination, it can break the chain of virus transmission, saving lives, and mitigating the negative impact of the pandemic.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific virus-like particles market. The Asia Pacific virus-like particles market is expected to grow at a good CAGR during the forecast period.
Asia Pacific Virus-like Particles Market Revenue and Forecast to 2028 (US$ Million) 
Asia Pacific Virus-like Particles Market Segmentation
Asia Pacific Virus-like Particles Market – By Product type
- Hepatitis
- Cancer/HPV
- Gaucher Disease
Asia Pacific Virus-like Particles Market – By Source
- Yeast
- Insect Cell
- Plant
- Others
Asia Pacific Virus-like Particles Market – By Application
- Vaccines
- Therapeutics
Asia Pacific Virus-like Particles Market – By Country
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Asia Pacific Virus-like Particles Market – Companies Mentioned
- Merck & Co., Inc.
- GlaxoSmithKline plc.
- Pfizer Inc.
- Sanofi
- Serum Institute of India Pvt. Ltd.
- BHARAT BIOTECH
- LG Chem
- Wantai BioPharm
Asia Pacific Virus-like Particles Market Strategic Insights
Asia Pacific Virus-like Particles Market Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 1,018.83 Million |
| Market Size by 2028 | US$ 1,769.02 Million |
| CAGR (2021 - 2028) | 8.2% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
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Regions and Countries Covered
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| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
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Asia Pacific Virus-like Particles Market Country and Regional Insights
