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.
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.
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
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
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:
- Bharat Biotech International Ltd
- Zydus Cadila
- Janssen Pharmaceuticals
- Sinovac Biotech Ltd
- China National Pharmaceutical Group Corporation (Sinopharm)
Global COVID-19 Vaccine Market: Research Scope
Global COVID-19 Vaccine Market, by Product Type
- Virus vaccine
- Live attenuated
- Viral vector vaccines
- Replicating viral vector
- Non replicating viral vector
- Adenovirus vector vaccines
- Lentivirus Vector
- Nucleic acid vaccines
- RNA Vaccine
- mRNA Vaccines
- DNA Vaccines
- RNA Vaccine
- Subunit vaccines
Global COVID-19 Vaccine Market, by Route of Administration
Global COVID-19 Vaccine Market, by End-user
- COVID-19 Clinics
- Diagnostic Centers
Global COVID-19 Vaccine Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.