CHICAGO, March 10, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global COVID-19 vaccine market report.
The COVID-19 vaccine market is expected to register a growth rate of over 6% during the period 2021-2022.
Key Highlights Offered in the Report:
1. APAC accounted for the major revenue due to the implementation of large-scale immunization programs being initiated by various countries, especially in China and India. The vaccination programs are being carried out in huge volumes to fully vaccinate all the citizens of respective countries.
2. Many vendors are focusing on developing and commercializing new vaccines such as mRNA-based, DNA-based, attenuated, protein-based, and antigen presenting cell vaccines as a solution to stop the spread of COVID-19 cases worldwide. Protein-based vaccines are accounting for around 30% of the COVID-19 vaccine pipeline.
3. COVID-19 vaccines requiring specialized storage facilities with subzero temperature, is seen as a major challenge in COVID-19 vaccine supply chain. Many developing and underdeveloped countries lack this infrastructure to store and distribute vaccines to the patients. Vendors and governments worldwide are prioritizing to improve the storage and distribution infrastructure for safe transport of COVID-19 vaccines.
4. Most of the approved and investigational COVID-19 vaccines need to be administered in two doses. However, Johnson & Johnson's one dosage COVID-19 investigational vaccine will be a game changer post-commercialization in the COVID-19 vaccines market.
5. Developed countries such as Canada, the US, the UK, and Germany have procured COVID-19 vaccines in surplus for their population. Owing to this, some developing and low-income countries are likely to get late access to the COVID-19 vaccines.
6.India has emerged as the new vaccine development and manufacturing hub as already Serum Institute of India and Bharat Biotech are actively engaged in distributing millions of vaccine doses to various countries. The country already sent around 5.6 million doses of domestic COVID-19 vaccines to around 47 countries.
7. COVAX plans to supply 2 billion doses of COVID-19 vaccines by the end of 2021. They focus on providing dosage for at least 20% of the country population, to end the acute phase of the pandemic. COVAX has delivered more than 20 million doses in their first week of distribution.
Key Offerings:
- Market Size & Forecast by Revenue | 2022-2024
- Market Dynamics - Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation - A detailed analysis by technology and geography
- Competitive Landscape - 13 key vendors and 14 upcoming companies
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COVID-19 Vaccine Market - Segmentation
- Protein-based vaccines constitute the highest COVID-19 vaccine market share as they contain the purified pieces of pathogen rather than the whole pathogen to trigger the immune response. In the absence of any significant adverse effect on the human body, these vaccines are likely to observe substantial growth during the forecast period.
- Viral-vector-based vaccines account for the second-largest market share. The availability of well-established vaccine manufacturing infrastructure, which can help developing an effective vaccine in a short period, is a significant factor contributing to the growth of viral-based vaccines.
- Whole virus is used as a weakened or deactivated form of the pathogen that triggers protective immunity. Sinopharm and Sinovac both use inactivated pathogens and therefore cannot infect cells and replicate but can trigger an immune response.
COVID-19 Vaccine Market by Technology
- Vector-based
- Nucleic acid-based
- Protein-based
- Whole Virus
COVID-19 Vaccine Market - Dynamics
In recent years, outsourcing manufacturing processes have experienced dramatic changes with a surge of consolidation among Contract Manufacturing Organizations (CMOs) and vaccine developers. Most COVID-19 vaccine-manufacturing companies are outsourcing their manufacturing processes. This outsourcing process keeps vaccine developers mainly focus on vaccine development. Vaccine developers mostly focus on marketing and R&D activities, turning their CMOs into strategic manufacturing partners. CMOs are capitalizing on this to evolve from simple suppliers to large markets based on partnerships with vaccine developers. For instance, Pfizer partnered with BioNTec, where Pfizer investigates vaccine manufacturing, while BioNTech takes care of the distribution and R&D. Similarly, the Oxford Research Institute is involved in the R&D of the vaccine, and AstraZeneca contributed to the production, distribution, and marketing.
Key Drivers and Trends fueling Market Growth:
- Faster Regulatory Approvals of COVID-19 Vaccine
- Rise in Number of COVID-19 Patients
- COVID-19 Vaccine Initiatives
- Emergence of Next-Generation Vaccine Platforms
COVID-19 Vaccine Market - Geography
In 2021, APAC accounted for around 58% of the global COVID-19 vaccine market. Vaccination in countries such as China, India, Bangladesh, Japan, and South Korea started in early 2021. China, India, Japan, South Korea, and Australia are the key major revenue contributors to the COVID-19 vaccine market in APAC. There is a large difference in the COVID-19 vaccination in APAC countries. China and India are leading the COVID-19 vaccine race in APAC. India has ordered more than 1.6 billion doses of COVID-19 vaccines, whereas Vietnam has not yet made any COVID-19 vaccine deals with the vendors. Japan, Vietnam, and Thailand are focusing on producing their own vaccine shots domestically.
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COVID-19 Vaccine Market by Geography
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Russia
- APAC
- China
- Japan
- South Korea
- India
- Australia
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Egypt
- UAE
- Turkey
Major Vendors
- AstraZeneca
- GlaxoSmithKline
- Moderna
- Gamaleya
- Bharat Biotech
- Pfizer
- Johnson & Johnson
- BioNTech
- CureVac
- Serum Institute of India
- Novavax
- Sinovac
- Sinopharm
Upcoming Vendors
- AnGes
- AIVITA Biomedical
- CanSinoBio
- EuBiologics
- Genexine
- GreenLight Biosciences
- Gennova
- Heat Biologics
- INOVIO
- IIBR
- Medicago
- Symvivo
- Valneva
- Zydus Cadila
Explore our healthcare & lifesciences profile to know more about the industry.
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