COVID-19 VACCINE PIPELINE INSIGHTS
The global COVID-19 vaccine market size will be valued at USD 35 billion in 2021 and is expected to reach USD 42 billion by 2022, growing 6% during 2021-2022. Constant focus by government agencies and several vaccine manufacturers to prevent human and economic losses due to the COVID-19 virus across the world is expected to boost the market's growth. With several vendors implementing new strategies, including combining the phase 1 & 2 clinical trial stages and faster regulatory approvals from health agencies, the availability of vaccine doses across the globe is likely to grow during the forecast period.
In response to the COVID-19 pandemic, there is a rapid expansion of novel COVID-19 vaccines in the pipeline. The role of public-private partnerships is further accelerating the vaccine development process. Increased vaccine development efforts across the world have helped generate a broad pipeline of vaccines and novel delivery mechanisms to achieve global immunization in the expected time. Hence, high investments in COVID-19 vaccine development programs worldwide increased manufacturing capacities, and the establishment of new PPPs driving R&D activities are likely to boost the global COVID-19 vaccine market.
J&J’s non-replicating viral vector vaccine has successfully entered its third phase. Novavax’s Nanoparticle COVID vaccine has demonstrated strong efficacy in the Phase 3 UK trial. Sensing the urgency to curb the COVID-pandemic, several manufacturers have entered into the third phase of the vaccine's clinical trials. Johnson & Johnson (J&J), Novavax, and CanSino Biologics have reported promising results during the third phase. J&J is likely to end the practice of two-dose as the company is about to roll out its easier-to-use, single-dose COVID-19 vaccine.
- In APAC, China, India, Japan, South Korea, and Australia are expected to be key major revenue contributors to the coronavirus vaccine market because of the high demand for immunization.
- APAC is expected to account for the highest revenue share in the global COVID-19 vaccine market because of high-populated countries such as India and China.
- The UK is likely to constitute 14% of the Europe market because of the high prevalence of the COVID-19 virus.
- North America, especially the US, is likely to emerge as one of the largest markets as the region is reeling under the coronavirus's onslaught.
GLOBAL COVID-19 VACCINE MARKET SEGMENTATION
This research report includes a detailed segmentation by
INSIGHTS BY TECHNOLOGY
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. Novavax, Chinese Academy of Sciences, and GSK/Sanofi are the major manufacturers that have approved protein-based vaccines for emergence use authorization. Protein-based vaccines can be used in patients with compromised immune responses.
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. Other major factors influencing the growth are high suitability for compromised immune systems patients and a relatively simple manufacturing process. However, a high adverse effect on humans is likely to decrease market growth. Sinovac, Sinopharm, CNBG, Bharat Biotech, Valneva, and Medicago are the major viral-based vaccine manufacturers.
INSIGHTS BY GEOGRAPHY
The outbreak of the COVID-19 pandemic was witnessed across the globe. Countries such as the UK, the US, Italy, Spain, India, China were the most affected; however, Middle East and African countries observed a low to moderate occurrence rate. The APAC market dominated the global COVID-19 vaccine market with over 58% share, followed by Europe with 15% and North America with 12%. The Middle East and Africa, and Latin America accounted for 10 % and 6%, respectively. Since the outbreak of the disease in 2019, which eventually was declared a pandemic by the WHO in March 2020, the spread has been thick and fast, swaying country after country and region after region. Most developed regions such as North America and Europe suffered high mortality. While the APAC region witnessed an unprecedented surge in the spread of the infection, the death rate was comparatively low. Several western countries observed a second wave of COVID-19 infection in mid-2020, causing further loss of lives, thereby driving vaccine manufacturers to speed up their efforts. Over 250 vaccine developers across the globe are working on several platforms to produce an effective vaccine. However, most COVID-19 vaccine-related R&D activities are focused on North America, with 46% developers of the confirmed active vaccine candidates compared with 18% in China, 18% in Asia (excluding China) and Australia, and 18% in Europe. Over 50% of vaccines made up to the clinical trial phase are in the North America, Europe, and APAC regions.
INSIGHTS BY VENDORS
AstraZeneca, GlaxoSmithKline, Moderna, Gamaleya, Bharat Biotech, and Pfizer are the major manufacturers of COVID-19 vaccines. Biotechnology and pharmaceutical industries are intensely competitive and are characterized by rapid and significant technological progress in vaccine development. Multiple products have been approved by the USFDA, EU, and other regulatory bodies for emergency use authorization (EUA) worldwide. Many products are manufactured using the latest vaccine platforms in the market.
The global COVID-19 vaccine market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
- Nucleic acid-based
- Whole Virus
- North America
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa