Key Trends and Application Analysis of COVID-19 vaccines Market
The global drugs market accounted for US$ 156.0 billion in 2020 and is estimated to be US$ 2.3 billion by 2025 and is anticipated to register a CAGR of -57.0%
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Technological advancements in the pharmaceutical sector comprising the development of nucleic acid vaccines that are DNA- and RNA-based, and which allow the human body to produce vaccine antigen. Such initiatives and activities are expected to support market growth to a substantial extent.
The report "Global COVID-19 Impact on Vaccines & Drugs Market, By Type (Vaccine and Drugs), By End-user (Hospitals, Clinical, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2025”.
In June 2020, Eli Lilly started a phase 3 trial of arthritis med Olumiant in COVID-19, hoping to show the JAK inhibitor could cut the rate of death or the need for ventilation in hospitalized patients.
In May 2020, Pfizer Inc. and BioNTech SE announced that the first participants have been dosed in the U.S. in the Phase 1/2 clinical trial for the BNT162 vaccine program to prevent COVID-19. The trial is part of a global development program, and the dosing of the first cohort in Germany was completed last week.
In April 2020, Sanofi and GSK announce that they have signed a letter of intent to enter into a collaboration to develop an adjuvanted vaccine for COVID-19, using innovative technology from both companies, to help address the ongoing pandemic. Sanofi will contribute its S-protein COVID-19 antigen, which is based on recombinant DNA technology. GSK will contribute its proven pandemic adjuvant technology to the collaboration.
An increasing number of clinical trials
An increasing number of clinical trials drive the growth of the vaccine and drug market. For instance, on 17th April 2020, the National Medical Products Administration of China approved Two COVID-19 inactivated vaccines for phases 1 and 2 combined trials. Additionally, in March 2020, two major pharma companies, Pfizer and BioNTech declared a joint venture to co-develop and distribute coronavirus vaccine. Similarly, in April 2020, Johnson & Johnson proclaimed to produce to 900 million COVID-19 vaccines by the first quarter of 2021. Therefore, the outbreak of the pandemic has stirred share activity in the vaccine and drug market leading to its growth.
At present, about 155 molecules are under clinical investigation, and around 45 molecules are under preclinical development to be targeted against COVID-19. In which, four promising drugs have been repurposed for use against COVID-19.
Chloroquine and hydroxychloroquine
Ritonavir/lopinavir and interferon-beta
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global COVID-19 Impact on Vaccines & Drugs Market”, By Type (Vaccine and Drugs), By End-user (Hospitals, Clinical, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2025
Key Market Insights from the report:
The global COVID-19 vaccines market accounted for US$ 2.6 billion in 2020 and is estimated to be US$ 1.5 billion by 2025 and is anticipated to register a CAGR of -10.4%
The global drugs market accounted for US$ 156.0 billion in 2020 and is estimated to be US$ 2.3 billion by 2025 and is anticipated to register a CAGR of -57.0%. The market report has been segmented on the basis of type, end-user, and region.
By type, the global COVID-19 impact on vaccines & drugs market is segmented into vaccine and drugs
By the end-user, the hospital segment estimated for the highest share of the critical care devices market in 2019, due to the strong financial capabilities of hospitals for purchasing high-priced critical care devices. Moreover, the large patient pool treated at hospitals, the growth in the number of make-shift hospitals, and the presence of trained professionals to operate these critical care devices also fuels the growth of this segment.
By region, North America is the dominating region in terms of market share across the globe due to the presence of major pharma companies in the region which have the funds to develop the vaccine
The prominent player operating in the global COVID-19 impact on vaccines & drugs market includes Pfizer, Inc., Serum Institute of India, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Sanofi S.A, Gilead Sciences, Inc., Merck KGaA, and Janssen Pharmaceuticals, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period
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Prophecy Market Insights
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