Corona Virus Vaccine Market will grow at 30.9% CAGR, to be valued at US$ 73.2 Billion by 2027, Owing to COVID-19 Outbreak
Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Corona Virus Vaccine Market, by Vaccine Type (Inactivated Virus, Protein Subunit, Non-replicating Viral Vector, Repurposed Vaccines, RNA Vaccine, DNA Vaccine, and Genetic Vaccines), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 14.5 billion in 2021 and is expected to exhibit a CAGR of 30.9% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
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Initiatives taken by the U.S. government to ensure the rapid production and distribution of COVID-19 vaccine is expected to boost growth of the global corona virus vaccine market. The table below provides the action taken by the U.S. government to support the Operation Warp Speed (OWP), a national program to accelerate the development, production, and distribution of COVID-19 vaccines.
MonthActions To Support OWPManufacturing| Vaccine Development | Distribution | ||
| March | The United States Department of Health & Human Services (HHS) announced US$ 456 million in funds for Johnson & Johnson’s (Janssen) candidate vaccine. | – | |
| April | HHS funded nearly US$ 483 million in support for Moderna’s candidate vaccine | – | |
| May | HHS provided around US$ 1.2 billion in support for AstraZeneca’s candidate vaccine | Department of Defense (DoD) and HHS entered into a US$ 138 million contract with ApiJect for over 100 million prefilled syringes for distribution across the U.S. by year-end 2020 | |
| June | HHS announced a task order with Emergent BioSolutions for the advancement of domestic manufacturing capabilities and capacity for potential COVID-19 vaccine & therapeutics. | HHS and DoD announced a joint effort to expand the manufacturing capacity for vials that may be needed for vaccines and treatments | |
| July | HHS funded US$ 1.6 billion in funds to support the large-scale manufacturing of Novavax’s vaccine candidate. | HHS announced a collaboration with Texas A&M University and FUJIFILM for the advancement of domestic manufacturing capabilities and capacity for potential COVID-19 vaccine using another BARDA-supported Center for Innovation in Advanced Department and Manufacturing | |
| August | HHS announced a fund of approximately US$ 1 billion to support the large-scale manufacturing and delivery of Johnson & Johnson’s (Janssen) investigational vaccine candidate. | HHS & DoD announced that McKesson Corporation will be central distributor of future COVID-19 vaccines and related supplies | |
| September | HHS and DoD released two documents outlining detailed strategy to deliver safe and effective COVID-19 vaccine doses in the U.S. | ||
| October | HHS entered into an agreement with Cytiva for the expansion of the company’s manufacturing capacity for products that are essential in producing COVID-19 vaccines | The agreements with CVS and Walgreens to provide and administer COVID-19 vaccines to residents of long-term care facilities (LTCF) in the U.S. | |
| November | HHS and DoD announced partnerships with large chain pharmacies and networks, covering around 60% of pharmacies throughout the 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. | ||
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Key Takeaways of the Global Corona Virus Vaccine Market:
- The global coronavirus vaccine market is expected to exhibit a CAGR of 30.9% during the forecast period, owing to increasing collaborations and agreements between market players and research institutes to develop COVID-19 vaccine. For instance, on April 30, 2020, AstraZeneca and the University of Oxford entered into an agreement for the global development and distribution of recombinant adenovirus vaccine aimed at preventing COVID-19 infection.
- Among phase of trial, phase 3 segment is expected to hold high market share in 2020, owing to increasing number of phase 3 clinical trials conducted by market players. For instance, on November 7, 2020, CanSino Biologics Inc., initiated Phase 3 clinical trial in Mexico for Ad5-nCoV, a recombinant novel coronavirus vaccine candidate.
- Among vaccine type, RNA vaccine segment is expected to hold higher market share in 2020, owing to increasing number of research & development activities for COVID-19 vaccine. For instance, in March 2020, Pfizer Inc. and BioNTech SE in collaborated for the development of COVID-19 vaccine. Later, on November 18, 2020, both the companies announced the positive results from the final efficacy analysis in their ongoing Phase 3 study for BNT162b2, mRNA-based COVID-19 vaccine candidate.
- Major players operating in the global coronavirus vaccine market include AstraZeneca plc, Pfizer Inc., Sanofi S.A., Novavax, Inc., Moderna, Inc., Sinovac Biotech Ltd., Bharat Biotech International Limited, Johnson & Johnson, BioNTech SE, Serum Institute of India, Shanghai Fosun Pharmaceutical Group Co., Ltd., CanSino Biologics Inc., CureVac AG , Cadila Healthcare Limited, Arcturus Therapeutics Holdings Inc., Entos Pharmaceuticals, and Symvivo.
Browse 27 Market Data Tables and 26 Figures spread through 201 Pages and in-depth TOC on “Corona Virus Vaccine Market”- Global Forecast to 2027, by Phase of Trial (Phase 1, Phase 2, Phase 3, and Phase 4), by Vaccine Type (Inactivated Virus, Protein Subunit, Non-replicating Viral Vector, Repurposed Vaccines, RNA Vaccine, DNA Vaccine, and Genetic Vaccines), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the global coronavirus vaccine market press release, click the link below: https://www.coherentmarketinsights.com/press-release/corona-virus-vaccines-market-3581
Detailed Segmentation:
- Global Corona Virus Vaccine Market, By Vaccine Type:
- Inactivated Virus
- Protein Subunit
- Non-replicating Viral Vector
- Repurposed Vaccines
- RNA Vaccine
- DNA Vaccine
- Genetic Vaccines
- Global Corona Virus Vaccine Market, By Region:
- North America
- By Vaccine Type
- Inactivated Virus
- Protein Subunit
- Non-replicating Viral Vector
- Repurposed Vaccines
- RNA Vaccine
- DNA Vaccine
- Genetic Vaccines
- By Country:
- U.S.
- Canada
- By Vaccine Type
- Latin America
- By Vaccine Type
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- By Vaccine Type
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Vaccine Type
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- By Vaccine Type
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Vaccine Type
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- North America
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.
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