Report : Europe 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)
Yeast Segment to dominate Europe Virus-like Particles Market during 2021–2028
According to a new market research study on “Europe 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$ 2,203.61 million by 2028 from US$ 1,302.03 million in 2021. The market is estimated to grow at a CAGR of 7.8% from 2021 to 2028. The report provides trends prevailing in the Europe virus-like particles market along with the drivers and restraints pertaining to the market growth. Ongoing demand for innovative and effective products, raising prevalence of infectious viral diseases, and the growing role of virus-like particles in therapeutic developments and studies are the major factor driving the growth of the Europe virus-like particles market. However, access of alternative technologies for viral vaccine production hinder the growth of Europe virus-like particles market.
As per the World Health Organization (WHO) report, currently, every single country in Europe is facing a real threat of COVID-19. The pace of virus transmission across the 53 countries of the WHO European Region is a matter of concern. To control the transmission, countries of Europe are conducting vaccination roll-outs at various stages. In Europe, various COVID-19 vaccines are currently being developed and are in clinical trials, in the countries such as the UK, Germany, and Russia. Among them, there are three vaccines in the UK, three vaccines in Germany, and 2 in Russia. Among these vaccines, there is one inactivated vaccine, two protein subunits, three viral vector vaccines, and two nucleic acid vaccines. To combat the coronavirus in the European region, Europe as a whole has made consistent efforts to drive vaccine development. The Bruegel report states that, prior to the COVID-19 pandemic, the EU announced funding of almost US$500 Million for vaccine and vaccination research through the Horizon 2020 research program during 2014-2020. Additionally, to combat COVID-19, the EU has offered emergency funds to support research and development for diagnostics, therapeutics, and vaccines. Initially, US$10 Million subsequently increased to US$47.5 Million and was allotted for research projects for responding to the COVID-19 pandemic. Moreover, the European Institute of Technology Health opened in April 2020 was a call to EIT partners to send proposals for COVID-19 projects with robust implementation with funding of each project.
The Europe 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 Germany, France, the UK, Italy, Spain, and Rest of Europe. In 2021, Germany held the largest share in the market, and UK is 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; and Dynavax Technologies are among the leading companies in the Europe 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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