Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
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Global Coronavirus (COVID-19) Vaccine Market Is Anticipated To Expand Exponentially During The Forecast Period (2020 To 2028)
Coronavirus is a part of large virus family that can cause sickness ranging from the common cold to more severe diseases such as Severe Acute Respiratory Syndrome (SARS-CoV) and Middle East Respiratory Syndrome (MERS-CoV). Alpha, beta, gamma, and delta are the four main sub-groupings of coronavirus. Coronavirus is generally spread through the droplets those are thrown outside the human body during coughing and sneezing. Thus, the virus is spread very rapidly among the human beings.
However, Advancements in the pharmaceutical and healthcare sectors have resulted in development of DNA- and RNA based nucleic acid vaccines. These vaccines enhances the immunity of human body by enabling the production of vaccine antigen. Key players have developed a numerous vaccine candidates which are yet to be trailed at number of stages before commercializing. The demand for coronavirus (COVID-19) is projected to expand exponentially during the forecast period.
The Increasing Cases Of Coronavirus (COVID -19) To Fuel The Demand For Coronavirus (COVID-19) Vaccine During The Forecast Period
The world had experienced the first outbreak of coronavirus (COVID-19) in Wuhan City, in December 2019. According to the recent report by World health organization (WHO), there are 153,517 confirmed cases of Coronavirus (COVID-19) and it has caused 5735 deaths across the globe. The spread of the virus is increasing day by day and the huge population from numerous countries are getting affected by the virus rapidly. The pandemic of Coronavirus (Covid-19) have impacted the industrial activities across the globe which in turn, have resulted in slow-down in key economies across the globe.
Currently, there is no vaccine or drug are available to cure the coronavirus (COVID-19). Thus, the researchers across the globe are putting efforts to the develop coronavirus (COVID-19) vaccine. The private and public investments are boosting the research activities. For instance, Coalition for Epidemic Preparedness Innovations (CEPI) have funded ‘mRNA therapeutics (Moderna Inc.)’, a Boston-based company to develop coronavirus (COVID-19) vaccine. The increasing investments in research and development of corona (COVID-19) vaccine coupled with collective efforts of scientists from various nationalities are anticipated to pacify the process of commercializing of coronavirus (COVID-19) vaccine. Therefore, rise in prevalence of virus infected cases across the globe is anticipated to drive the demand for coronavirus (COVID-19) vaccine during the forecast period.
High Cost Involved and the Tedious Process of Commercializing the Vaccines May Hinder the Growth of the Market
The research and development costs for production of vaccines is too high. Furthermore, the process of registering vaccines for human use is complex due to number of tedious steps involved. The development in corona (COVID-19) vaccine is in the research phase. Number of trials on animals and human bodies are necessary to commercialize any vaccine for human body. Thus, hurdles in commercialization of vaccines coupled with higher costs may hamper the growth of Corona (COVID-19) vaccine market during the forecast period
Asia Pacific Region to Hold Key Share in Global Corona (COVID-19) Market during the Forecast Period
Asia Pacific region is highly affected by coronavirus infections. The countries such as China, Japan and ASEAN countries have huge number of infected patients. The rising number of cases in dense populated countries such as India and Indonesia are projected to fuel the demand for corona (COVID-19) during the forecast period.
Europe and North America markets are also projected to contribute to considerable market share owing to high number of cases in countries such as Italy, Germany, Spain and the U.S. Moreover, the higher per capita income in these developed countries would positively impact the demand for Corona (COVID-19) vaccine from end-users.
Key players of vaccine market are focused on development of coronavirus (COVID-19) with the help of funds from various local and global bodies. Key players operating in the Global Coronavirus (COVID-19) market are GSK (GlaxoSmithKline), Serum Institute of India, Sanofi, Moderna Inc., Johnson & Johnson, Dynavax, CureVac and Regeneron Pharmaceuticals Inc.
Coronavirus (COVID-19) Vaccine Market Segmentation:
Coronavirus (COVID-19) Vaccine Market Vaccine Type:
- DNA-based Vaccine
- Inactivated Vaccine
- Others ( Live Attenuated Vaccine, etc.)
Coronavirus (COVID-19) Vaccine Market By Age-group of End-user:
- Up to 18 years
- 18 Years to 30 Years
- 30 Years to 60 Years
- 60 Years and above
Coronavirus (COVID-19) Vaccine Market by Procurement Mechanism:
- Self-Procuring Countries
- UNICEF SD
- PAHO Revolving Fund (RF)
Coronavirus (COVID-19) Vaccine Market By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa