Growing cases of COVID-19 disease across the globe to drive the growth of global coronavirus vaccine market
According to TechSci Research report, “Global Coronavirus Vaccine Market By Type of Test (Molecular v/s Serology), By Use (Disposable v/s Reusable), By Full Test Time (5 Minutes, 5- 15 Minutes, 15-60Minutes, 1 Hours- 5 Hours, 5 Hours-12Hours, 12 Hours-24Hours, More Than 1 Days), By Technology (RT-PCR, IgG, IgM ELISA Test, Microneutralization Assays), By Specimen Type (Nose & Throat Swab, Blood, Sputum, Nasal Aspirate), By Mobility (Portable v/s Stationary), By End Use (Hospitals, Clinics, Public Health Labs, Private or Commercial Labs, Physician Labs, Research Institutes, Others), By Region, Forecast & Opportunities, 2025”, the global coronavirus vaccine market is expected to grow at a robust rate during the forecast period on account of the increasing R&D activities related to manufacture of coronavirus vaccine by the major companies and research laboratories around the globe. Additionally, increasing funding & grants by various governments around the world for development of vaccine, so that they can eradicate this disease from the globe, is expected to foster the market over the next few years. Furthermore, increasing healthcare spending and rising need to protect the population from the outbreak are positively impacting the growth of market. However, high cost of R&D involved in the development of vaccine might hamper the growth of market especially in the developing economies. Additionally, development of a potential vaccine requires a lot of time, it is a long process in which the vaccine must clear various tests and trials, thereby slowing down the market growth. Also, vaccine development is a various complex process. Furthermore, post development and getting approval by the FDA, there arises a need to produce the vaccine in large volumes necessary to end the pandemic. This also involves both time and cost, thereby impeding the market growth.
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The global coronavirus vaccine market is segmented based on infection type, vaccine type, product type, route of administration, patient type, end user, company and region. Based on vaccine type, the market can be categorized into inactivated coronavirus vaccine, live attenuated coronavirus vaccine and S-protein based coronavirus vaccine. The live attenuated coronavirus vaccine is expected to hold the largest market share during forecast period since this is the most traditional method used for the development of vaccines. While, the S-protein based coronavirus vaccine is expected to register the highest growth since the vaccines that are under development and have entered the clinical trials are S-protein based ones, which are either using DNA or mRNA of the virus. Based on patient type, the market can be bifurcated into pediatric and adult. The adult segment is expected to dominate the market since mostly the adults especially the geriatric population, is getting affected by the COVID-19 disease.
Inovio Pharmaceuticals, Inc., Moderna, Inc., Novavax, Inc., Johnson & Johnson, Pfizer, Sanofi, Protein Potential, LLC, AlphaVax, Inc., Synairgen PLC, NanoViricides, Inc., GeneCure, LLC, GlaxoSmithKline (GSK), Zydus Cadila, Serum Institute, Bharat Biotech, CanSino Biological Inc, FluGen, I-Mab Biopharma, Medicago, Airway Therapeutics and others are some of the leading players operating in global coronavirus vaccine market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. For instance, GlaxoSmithKline is developing a “molecular clamp” vaccine, which would contain the protein that enables COVID-19 to enter human cells. This method was worked up by the University of Queensland in Australia. Also, Bharat Biotech has collaborated with the University of Wisconsin Madison and US-based company FluGen to develop a vaccine, Coro-Flu, against COVID-19.
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“North America is expected to dominate the coronavirus vaccine market during forecast period owing to the increasing R&D investments for the development of a potential vaccine against the coronavirus in the region. Additionally, supportive government policies & schemes are further expected to propel the market. Furthermore, presence of major players such as Inovio Pharmaceuticals, Inc., Moderna, Inc., Novavax, Inc., among others, who are aggressively developing the vaccine, is expected to create lucrative opportunities for the market growth through 2025.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Coronavirus Vaccine Market By Type of Test (Molecular v/s Serology), By Use (Disposable v/s Reusable), By Full Test Time (5 Minutes, 5- 15 Minutes, 15-60Minutes, 1 Hours- 5 Hours, 5 Hours-12Hours, 12 Hours-24Hours, More Than 1 Days), By Technology (RT-PCR, IgG, IgM ELISA Test, Microneutralization Assays), By Specimen Type (Nose & Throat Swab, Blood, Sputum, Nasal Aspirate), By Mobility (Portable v/s Stationary), By End Use (Hospitals, Clinics, Public Health Labs, Private or Commercial Labs, Physician Labs, Research Institutes, Others), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of global coronavirus vaccine market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global coronavirus vaccine market.
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