North America to Dominate Coronavirus Vaccine Market through 2025
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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