COVID-19 Vaccine Market: Introduction
• COVID-19 is a pneumonic disease that is caused by SARS-Cov2 virus. Previous ancestors of COVID-19 virus are SARS-CoV and MERS Virus. Loss of few base pairs has led to the mutation in the genetic material of SARS-CoV2. High multiplication rate in the host is one of the remarkable properties of this virus. Incubation period for SARS-Cov2 virus is 3-4 days, which is very less as compared to the incubation period of other viruses. This is one of the major cause of its virulence.
• Mode of transmission for SARS-CoV2 is infected air. A healthy person coming in contact with an infected person through air via sneezing, or respiratory droplets transmission is likely to get infected with the virus. Various approaches are used for the manufacturing of antibodies such as isolation of RNA or DNA of the virus, amplifying them, and conjugating the genetic material with some biomolecules such as lipids that would lead to an elevated immunogenic response of patients.
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Key Drivers and Restraints of Global COVID-19 Vaccine Market
• Continuous and rapid rise in the number of COVID-19 cases among people, its prevalence, and increase in the mortality rate of patients worldwide are key factors driving the market. According to WHO, as of March 06, 2021, globally, there are 114,653,749 confirmed cases of COVID-19, including 2,550,500 deaths reported.
• Rise in prevalence of diabetes and hypertension also leads to kidney damage. Diabetes is a leading cause of kidney disease. Rise in the number of ongoing clinical trials, increase in funding and drug regulatory approvals from governments, technological advancements, and a large number of corporates investing in the R&D sector are also major factors that are estimated to propel the market.
• Major challenge to tackle is the relatively small-scale production of COVID-19 vaccine, affordability of price, and improper sales and distribution channel for availability of people when and where needed, especially in local communities needs to be dealt with. These are some factors that may hamper the global COVID-19 market.
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Nucleic acid vaccines segment to dominate global COVID-19 vaccine market
• Based on product type, the global COVID-19 vaccine market can be divided into virus vaccine, viral vector vaccines, nucleic acid vaccines, and subunit vaccines. The virus vaccine segment can be further divided into live attenuated and inactivated virus vaccine. The viral vector vaccines segment can be further bifurcated into replicating viral vector, non-replicating viral vector, adenovirus vector vaccines, and lentivirus vector vaccines. The nucleic acid vaccines segment can be further split into mRNA Vaccines and DNA Vaccines.
• The nucleic acid vaccines segment dominated the global market as mRNA vaccines do not interact with the genetic material of humans, thus having no side-effects and toxicity and absence of virus particle in the vaccine. These are also key factors that are likely to drive the global COVID-19 vaccine market.
• Ease and large-scale production of the vaccine, its wide availability, and efficacy in treatment of COVID-19 patients are major factors that are estimated to propel the COVID-19 vaccine market
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Intramuscular to be lucrative Segment
• Based on route of administration, the global COVID-19 vaccine market can be divided into intramuscular (IM) and subcutaneous.
• The intramuscular segment dominated the global market due to increased flexibility. Injections injected intramuscularly act in a better way than injected subcutaneously to patients. These factors together drive the segment.
Hospitals Witness Highest Growth
• Based on end user, the global COVID-19 vaccine market can be divided into hospitals, COVID-19 clinics, and diagnostic centers
• The hospitals segment dominated the global COVID-19 vaccine market due to marked percentage (%) increase in number of COVID-19 cases coming to hospitals and clinics day by day and the facilities provided in hospitals such as different screening tests, isolation wards, and other healthcare facilities
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North America to dominate global COVID-19 vaccine market
• In terms of region, the global COVID-19 vaccine market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
• North America accounts for a prominent share for COVID-19 vaccine market, followed by Europe. Rise in number of COVID-19 cases and their increasing prevalence among patients in North America, technology advancements followed by increased funding from governments in R&D activities and large corporates making huge amount of investments in COVID-19 diagnostics are factors that have led North America to account for a prominent share of the market in the region.
Key Manufacturers Operating in Market
The global COVID-19 vaccine market was highly fragmented in 2019. Key manufacturers operating in the global market are:
• Pfizer
• Moderna
• Astrazeneca
• Bharat Biotech International Ltd
• Zydus Cadila
• BioNTech's
• Janssen Pharmaceuticals
• Sinovac Biotech Ltd
• China National Pharmaceutical Group Corporation (Sinopharm)
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