Coronavirus Vaccine Market in terms of revenue was worth of USD 75.75 Billion in 2021. Rapid increase of corona virus all around the world is the driving factor for global coronavirus vaccine market
The family of viruses that cause respiratory related diseases in mammals and birds. Coronavirus cause respiratory tract infections in humans that can only cause common cold and others that cause severe respiratory problem and ultimately death such as SARS, MERS and recent COVID-19. Some of the identified corona viruses are SARS-CoV, HCoV NL63, HKU1, MERS-CoV and recent SARS-CoV-2.
The recent 2019-nCoV which was originated in Wuhan region of China is highly contagious in nature and affects the lungs severely where patient find it hard to breath. From decemebr 2019 to till date of march 26, 2020 there have been 472,529 confirmed cases and at least 21,305 deaths worldwide. This strain has been identified as a new strain of Betacoronavirus from group 2B with about 70% genetic similarity with SARS-CoV. It is declared as pandemic worldwide by WHO recently. Due to its highly contagious nature, about 35 companies and academic institutions are working hard to create a vaccine, at least four of which are having some sort of result they have been testing in animals. The vaccine produced by Boston based biotech firm Moderna is entering human trial shortly. This unparalleled speed is due to early Chinese efforts to sequence the Sars-CoV-2’s genetic materials that caused Covid-19.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2020:||USD 0.37 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2021:||USD 75.75 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||I-Mab Biopharma,Medicago,Airway Therapeutics,Tiziana Life Sciences,Inovio Pharmaceuticals, Novavax, Inc,Moderna,Others|
|Segments Covered||By Infection Type, By Application, By Vaccine Type, By End-user|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
In case of severe acute respiratory syndrome (Sars) in China in 2002-04, and Middle East respiratory syndrome (Mers), which started in Saudi Arabia in 2012, work started on vaccine and later put on the side as the outbreaks were contained. Maryland-based Novavax, have now restated those vaccines for Sars-CoV-2.
Global Coronavirus Vaccine market report is segmented on the basis of infection type, vaccine type, end user and by regional & country level. Based on infection type, global Coronavirus Vaccine market is classified as HCoV-229E, HCoV-OC43, SARS-CoV, New Haven CoV, HKU1-CoV and MERS-CoV. Based on vaccine type the market is divided in to Inactivated coronavirus vaccine, Live attenuated coronavirus vaccine, S-Protein based coronavirus vaccine. Based on end user the market is divided in to hospitals, clinics, research institutes and others.
The regions covered in this Coronavirus Vaccine market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of clinical decision support system is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
By Infection Type
By Vaccine Type
Some major key players for Global Coronavirus Vaccine Market are,
The 2020 outbreak of corona virus worldwide along with death of thousands of people is endangering many lives from more than 100 countries which has forced research bodies and pharmaceutical companies in to activity to develop vaccine for this disease. Demand for drugs such as hydroxychloroquine/Plaquenil, Favilavir and other related products such as sanitizers and masks is rising exponentially across countries which is expected to drive the market of corona virus vaccine in future as there will be innovated vaccine for this disease which will required by countries of all around the world creating a steady market chain. The companies are using different approaches to fine vaccine for Covid-19 such as Novavax is using recombinant method to create vaccine which involves extraction of genetic code for protein spike on surface of Sars-CoV-2. Other newer approaches, is to bypass the protein and build vaccines from the genetic instruction. This is followed by Moderna and another Boston company, CureVac, both of which are trying to build Covid-19 vaccines out of messenger RNA. In case of Sars-CoV-2, it is a novel pathogen in humans and the technologies that are being used to build vaccines are relatively untested, for example, no vaccine created out of genetic material RNA or DNA are approved till now. The high cost in conducting experiment as well as the novelty of virus is restraining the market.
The North America is estimated to have high growth rate and revenue share in global coronavirus vaccine market due to presence major companies and research organizations who are conducting research such as Novavax, moderna etc. and growing number of cases in USA. Europe is estimated to be the second highest market due to serious health condition occurred due to corona virus pandemic and urgent need of vaccines in this region. In case of Asia-pacific the market is estimated to have highest growth rate due to it being as the origin place of corona virus, extensive research in China, rising demand as well as presence of dense human population.
Middle East and Africa
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