Press Release: OVERALL IMPACT ANALYSIS OF CORONAVIRUS (SARS-CoV-2)

Posted on July 21, 2021 by Admin

INTRODUCTION

As coronavirus cases continue to increase across the world, vaccination is expected to be the best method to control the rapid increase in cases. As per the reports by World health Organization (WHO), till May 13, 2021, there are minimum 13 different vaccines are available in market such as Pfizer/BioNTech vaccine, Sinopharm vaccine, and others that have been administered globally. Moderna COVID-19 vaccine was listed for Emergency Use Listing (EUL) on April 30, 2021 by WHO. On May 7, 2021, Sinopharm COVID-19 vaccine was listed for Emergency Use Listing (EUL) by the World Health Organization.

WORLDWIDE CORONAVIRUS VACCINE MARKET ANALYSIS

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. COVID-19 was declared as pandemic on March 11, 2020 by the World Health Organization. After the announcement, almost the whole world got shutdown which impacted globally on all departments and open the debate on investment in healthcare sector for all countries.

The rapid increase in number of COVID-19 cases, it is expected to support growth of the market over the forecast period. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 19 crore cases and 40.8L deaths due to coronavirus (COVID-19) were reported up till July 17, 2021 globally.

US$ 38,563.2 Mn in 2021 is the estimated value of global coronavirus vaccine market, and is expected to exhibit a CAGR of 56.1% over the upcoming period (2021- till 2030).

The continuous rise in number of coronavirus cases is expected to drive growth of coronavirus vaccine market from 2021 till 2030. According to the statistics provided by Worldometer, the total number of coronavirus cases reported globally till July 17, 2021, are around 19 crores and are expected to rise in the near future.

As per the increase in number of research and development activities researchers, scientists are trying to improve the effectiveness of coronavirus vaccine which is expected to drive growth of the market. Phase III clinical trial for the Recombinant Novel Coronavirus Vaccine (Adenovirus Type 5 Vector) (‘Ad5-nCoV’) in Mexico was announced by CanSinoBIO and has successfully vaccinated the first group of subjects in November 2020. The Federal Commission for Protection against Sanitary Risks of Mexico in October 2020 finally approved this study. The approximate trial aims to recruit a total number of 15,000 subjects to further demonstrate the efficacy of the candidate so that it will be provided in market as early as possible.

Moreover, every country’s government is increasing investments to support manufacturing and distribution of COVID-19 vaccines and it is expected to propel the market growth of coronavirus vaccine. In July 2020, the U.S. Department of Health and Human Services (HHS) announced that they are proving funds of about US$ 1.6 billion in support to the large-scale manufacturing of Novavax's vaccine candidate. Furthermore, in August 2020, HHS announced that they are also provide funding of around US$ 1 billion to support large-scale manufacturing and delivery of Johnson & Johnson's (Janssen) investigational coronavirus vaccine candidate.

Market strategies are rising day by day such as mergers, collaborations, and acquisitions are expected to propel the growth of the global coronavirus vaccine market. For example, in September 2020, BioNTech SE announced the agreement to acquire Novartis AG’s GMP certified manufacturing facility in Marburg, Germany. BioNTech’s COVID-19 vaccine production capacity was raised by up to 750 million doses per year, or over 60 million doses per month, once fully operational which will be more helpful for the other countries which are not able to get proper vaccination.

REGIONAL ANALYSIS FOR CORONAVIRUS VACCINE

Dominant position is expected to be hold by North America in the global coronavirus vaccine market in between 2021-2030. On December 18, 2021, Moderna, Inc., received Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for mRNA-1273, COVID-19 vaccine indicated for people of age 18 years and above. On February 02, 2021, Ocugen, Inc., and Bharat Biotech have signed a definitive agreement, to co-produce, supply, and commercialize COVAXIN, a COVID-19 vaccine developed by Bharat Biotech, in the U.S. market.

Pharmaceutical companies are more focused on getting approval for COIVD-19 vaccine from regulatory authorities like WHO, which is expected to boost growth of the market in Europe as well as Asia Pacific region. On March 18, 2020, Pfizer Inc. and BioNTech SE received conditional marketing authorization (CMA) from the European Commission (EC) for COMIRNATY, a COVID-19 vaccine. Moderna, Inc. received conditional marketing authorization (CMA) from the European Commission for the COVID-19 vaccine, on January 6, 2021.

VACCINE MARKET GLOBALLY

The coronavirus vaccines which are available in market includes Sinovac Biotech Ltd., Bharat Biotech International Limited, BioNTech SE, CanSinoBIO, CureVac AG, Zydus Cadila, AstraZeneca Plc, Arcturus Therapeutics Holdings Inc., Entos Pharmaceuticals, Symvivo, Novavax, Inc., Moderna, Inc., Johnson & Johnson, Sanofi S.A., Pfizer, Inc., and Serum Institute of India Pvt. Ltd. Other vaccines are under trials which are expected soon to get approval for emergency use.

REPORT COVERAGE

Report Coverage

Details

Base Year:

2020

Market Size in 2021:

US$ 38,563.2 Mn

Historical Data for:

2017 to 2020

Forecast Period:

2021 to 2030

Forecast Period 2020 to 2030 CAGR:

56.10%

2030 Value Projection:

US$ 95,988.0 Mn

Geographies Covered:

North America: U.S. and Canada

Latin America: Brazil, Argentina, Mexico, and Rest of Latin America

Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe

Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific

Middle East: GCC, Israel, and Rest of Middle East

Africa: South Africa, North Africa, and Central Africa

Segments Covered:

By Vaccine Type: Inactivated Virus, Protein Subunit, Non-replicating Viral Vector, Repurposed Vaccines, RNA Vaccine, DNA Vaccine

Companies Covered:

Sinovac Biotech Ltd., Bharat Biotech International Limited, BioNTech SE, CanSinoBIO, CureVac AG, Zydus Cadila, AstraZeneca Plc, Arcturus Therapeutics Holdings Inc., Entos Pharmaceuticals, Symvivo, Novavax, Inc., Moderna, Inc., Johnson & Johnson, Sanofi S.A., Pfizer, Inc., and Serum Institute of India Pvt. Ltd.

Growth Drivers:

Development and distribution of Covid-19 vaccines in emerging economies such as India, China, and others

Increasing R&D activities and clinical trials

Increasing prevalence of coronavirus infection

Increasing product launches and approvals

Increasing strategic collaborations among the market players

Restraints & Challenges:

Stringent regulatory conditions for vaccine approval