Pfizer, a US-based company and BioNTech, a Germany-based company are ahead in the Coronavirus vaccine market race.
According to the latest Arizton's market research report, the COVID-19 vaccine market size to reach around USD 35 billion by 2021, and is expected to register a growth rate of over 6% during 2021-2022.
Contract Manufacturers Accelerating COVID-19 Vaccine Production
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 market based on partnerships with vaccine developers. For instance, Pfizer partnered with BioNTec, and Pfizer investigates vaccine manufacturing, while BioNTech takes care of the distribution and R&D. Moderna, Pfizer, BioNTech, and Johnson & Johnson has multiple tie-ups with contract manufacturers in the coronavirus vaccine market. Vaccine manufacturers will leverage CMOs to reduce their suppliers and simplify the value chain. CMOs play a crucial role in price reduction and large-scale in the coronavirus vaccine market.
Interesting Facts to Know!
- Within OWS, the US National Institute of Health partnered with around 18 biopharma companies in this ACTIV initiative. This initiative focuses on speeding up the process of vaccine development for COVID-19.
- Many new investments in the research and development of new generation vaccine platforms by the key vendors in the COVID-19 vaccine developers in the coming years.
- The manufacturers are scaling up and establishing new PPPs to drive research and development. Vaccine developers and manufacturers, around 200 candidates are working to prevent COVID-19 infection.
- Pharmaceutical enterprises and suppliers of raw materials, CMOs, and packaging, transportation and logistics companies involved in the development, production, and distribution of COVID-19 vaccine are intensively preparing for vaccine distribution.
- Market Size & Forecast by Revenue | 2021−2024
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by technology and geography
- Competitive Landscape – 13 Key Company Profiles and 14 upcoming vendors
Coronavirus 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 in the coronavirus vaccine market 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. Most Western Asian countries are part of the COVAX facility and will receive COVID-19 shots by the second part of 2021. SinoPharm, SinoVac, and Bharath Biotech are approved vaccines in APAC. China has two other vaccine candidates, CanSinoBIO that is conducting phase-three clinical trials in Saudi Arabia and another company called Anhui Zhifei Longcom. Many countries such as Singapore, Malaysia, and the Philippines have already signed agreements with Sinovac, which can produce more than 300 million doses a year for vaccine procurements. The coronavirus vaccine market in China was valued at over USD 12 million in 2021. Its product CoronaVac is also approved in other countries such as Turkey and is being tested in few other countries.
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Strategies Adopted by the Coronavirus Vaccine Market Players
To compete in the coronavirus vaccine market, the vaccine developers often outsource and participate in joint-development activities and technological transfers. Pfizer, a US-based company and BioNTech, a Germany-based company are ahead in the COVID-19 race. These companies becoming the first to release the full late-stage trial data. Additionally, Pfizer and Moderna, the British player AstraZeneca also launched its vaccine which is approved in India. The Covishield vaccine have given the green light by Britain, Argentina, and El Salvador. Johnson & Johnson is also planning to deliver clinical trial data in January, testing it up for the US authorization in February if its shot is effective. Moderna confirmed that it is scaling up manufacturing capacity to produce millions of doses per month in the potential form of individual or multi-dose vials. Moderna and Lonza announced a global strategic collaboration with the goal to enable the manufacturing of up to 1 billion doses of mRNA-1273 per year.
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