COVID-19 Vaccines Market to Reach USD 41 Billion in 2022 - Arizton

Upcoming COVID-19 Vaccines

There are more than 200 COVID-19 vaccine projects in development globally. Among these, 29 are under clinical trials. The global biotechnology and pharmaceutical industries are intensely competitive and are characterized by rapid and significant technological progress in COVID-19 vaccine development. Multiple vaccine products have been approved by the US FDA, EU, and other country regulatory bodies for EUA. Pfizer, a US-based company, and BioNTech, a Germany-based company, have been ahead in the COVID-19 race. The second-largest player in the COVID-19 vaccine Moderna was approved after Pfizer in many countries after it was released a full data analysis for a late-stage trial in November 2020, showing a 94.1% efficacy rate for its vaccine. In addition to Pfizer and Moderna, the British player AstraZeneca also launched its vaccine, which was approved in India. The Covishield vaccine has also been given the green light by Britain, Argentina, and El Salvador.

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Advanced Vaccine Generation Platforms

Vendors in the COVID-19 vaccine race are using advanced technologies to manufacture affordable vaccines with maximum efficiency, which can be preserved with a shelf life for a longer duration. Various technologies are used to design COVID-19 vaccines based on the mRNA type, protein-based, whole virus, and viral vector. One of the major advantages of next-generation vaccines is that they can be developed based on sequence information alone. For instance, viral proteins provide the required protection from infection or disease. Hence, once the coding sequence of the viral protein is known, it will be sufficient to start the vaccine development instead of having to depend on the ability to culture the virus. This makes them adaptable and speeds up vaccine development, which is required during the pandemic. Most COVID-19 vaccine clinical trials currently involve a next-generation platform.

COVID-19 Vaccine Market Supply Chain

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. Many pharma companies are partnering with other biotech companies to facilitate vaccine production. For instance, Dermapharm, BioNTech, and Pfizer, partnered in vaccine production and targeted 100 million doses in 2020 and 1.3 billion doses by the end of 2021, thus expanding their capabilities. For instance, Johnson & Johnson opened new plants in Europe and Asia. Post-production, the companies are partnering with logistic service providers for vaccine distribution. Logistics service providers are investing heavily in new pharmaceutical hubs. The development and expansion of suitable locations in the logistical network and partnerships are also being established.

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Geographical Outlook

Most developed regions, such as North America and Europe, suffered many COVID-19 cases and high death rates. Although COVID-19 cases were high in APAC, the death rate was comparatively lower than in Europe and North America. In 2021, APAC accounted for 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. 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. The UK is leading the vaccine race with many COVID-19 vaccine approvals. The UK has administered most vaccines overall.

Source: COVID-19 Vaccine Market - Global Outlook and Forecast 2021-2024 by Arizton Advisory & Intelligence

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