Report : South 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)
Insect Cell is Expected to be the Fastest Growing Segment During the Forecast Period 2021–2028
According to a new market research study on “South 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$ 324.57 million by 2028 from US$ 199.78 million in 2021. The market is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The report provides trends prevailing in the South America virus-like particles market along with the drivers and restraints pertaining to the market growth. Up-raising prevalence of infectious viral diseases, consistent demand for innovative and effective products, and surging role of virus-like particles in therapeutic developments and studies are the major factor driving the growth of the South America virus-like particles market. However, availableness of alternative technologies for viral vaccine production hinder the growth of South America virus-like particles market.
As South America becomes the new epicenter of COVID-19, fears are growing about depending on a vaccine designed and manufactured overseas, especially since wealthier countries have historically had better access to immunizations. Governments in South America acted quickly and preemptively to safeguard their citizens and control the spread of COVID-19 across the area, as well as its economic consequences. According to reports, certain governments in high-income countries have attempted to purchase vaccine-manufacturing companies or a portion of their supply. According to the researchers, they coat virus-like particles with pieces of the proteins that the coronavirus utilizes to enter human cells in the hopes of tricking the immune system into creating antibodies that will block the coronavirus during infection. Because these particles can't replicate inside the human body, and the virus-like particles regarded safer than vaccinations created from weakened viruses, and the technology has already been utilized to develop commercially accessible hepatitis B and human papillomavirus vaccines. Further, Argentina and Mexico inked an agreement with mAbxience, the British pharmaceutical company AstraZeneca, and Oxford University in August 2020. The goal is to create between 150 and 250 million doses of the COVID-19 vaccine, which will be distributed throughout South America is expected to help the region in its fight against the COVID-19.
The South 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 Brazil, Argentina, and Rest of SAM. In 2021, Brazil 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; and LG Chem are among the leading companies in the South 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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