Report : Virus-Like Particles Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Hepatitis, Cancer, Others); Source (Yeast, Insect cells, Others); Application (Vaccine, and Therapeutics and Imaging Agents)
According to our latest study on “Virus-Like Particles (VLP’s) Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product Type, Source, and Application,” the market is projected to reach US$ 7,858.82 million by 2028 from US$ 4,601.84 million in 2021; it is expected to grow at a CAGR of 7.9% from 2021 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
Based on product type, the virus-like particles market is segmented as hepatitis, cancer/HPV, and Gaucher disease. The hepatitis segment would account for a large market share during 2021–2028. Hepatitis B virus (HBV) is responsible for a disease burden among millions of people worldwide. Various vaccination strategies have been developed with the use of viral vectors, nucleic acid, protein, peptides, and VLP's for stimulating immune responses against HBV.
By source, the virus-like particles market is segmented into yeast, insect cell, plant, and others. Yeast dominates the overall market, and the segment is projected to continue its market dominance during the forecast period as well. Yeast proves advantageous for producing virus like particles due to scalable fermentation, low risk of contamination by adventitious agents, low production costs and the ability to produce VLPs with reliable qualities. Additionally, there has been huge efforts to expand its applicability as it has been evident that yeast allows secretory VLP productions. Currently, many yeast-based vaccines are in clinical trials, and the majority of them have already reached the third phase of clinical trials, which indicates the effectiveness of these vaccines, and the use of proteins extracted from recombinant yeast cells as a peptide vaccine against hepatitis B has been a major achievement in the vaccine industry.
By application, the virus-like particles market is segmented as vaccines and therapeutics. The vaccines segment would hold a considerable share of the market in 2021, and it is likely to continue its dominance in the market during the forecast period as well. As traditional vaccines against animal viral diseases are based on inactivated or attenuated viruses, the new subunit vaccines have received significant attention in clinical applications in animal vaccinology. Virus-like particles are gaining importance in a wide range of vaccine applications.
The development of virus like particle (VLP) technology had a long-lasting impact on modern vaccinology. For example, in order to optimize the efficacy and safety of VLP based vaccines, adjuvants are included in most vaccine formulations. Novel class of adjuvants such as liposomes, agonists of pathogen recognition receptors, polymeric particles, emulsions, cytokines and bacterial toxins, are used to optimize the immunostimulatory activity of a VLP based vaccine. Additionally, adjuvants play multiple roles for enhancing the efficacy and safety of a VLP based vaccines.
The growth of the virus-like particles (VLP’s) market is primarily attributed to the factors such as commercial VLP based vaccines against human and animal viruses, intensive research and development activities for development of VLPs based vaccines effective against viral infections, and VLPs acting as a best immunotherapy platform for allergic diseases. Prevalence of infectious viral diseases and widening role of virus like particles in therapeutic developments and studies contribute for the VLP market growth.
However, technical associated challenges related to manufacturing of eVLP-based vaccines such as design, purification, and storage acts as impeding factors for the overall market growth. Availability of alternative technologies for viral vaccine production hinders the VLP market growth during the forecast period. Merck & Co., Inc.; GlaxoSmithKline plc.; Pfizer Inc.; Dynavax Technologies; Sanofi; Wantai BioPharm.; Serum Institute of India Pvt. Ltd.; BHARAT BIOTECH; LG Chem; and VBI Vaccines Inc.; are among the leading companies operating in the virus-like particles market.
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