Global COVID-19 Vaccine Market Outlook and Forecast 2021-2024: Market Revenue is Expected to Reach a Value of US$5 Billion


Dublin, March 24, 2021 (GLOBE NEWSWIRE) -- The "COVID-19 Vaccine Market - Global Outlook and Forecast 2021-2024" report has been added to's offering.

The global COVID-19 vaccine market by revenue is expected to reach a value of USD 5 billion during 2021-2024.

The global COVID-19 vaccine market size is expected to reach over 5 billion by 2024. Constant focus by government agencies and several vaccine manufacturers to prevent human and economic losses due to the COVID-19 virus across the world is expected to boost the market's growth.

With several vendors implementing new strategies, including combining the phase 1 & 2 clinical trial stages and faster regulatory approvals from health agencies, the availability of vaccine doses across the globe is likely to grow during the forecast period.

Global COVID-19 Vaccine Market Segmentation

The global Covid-19 vaccine market research report includes a detailed segmentation by technology, geography. Protein-based vaccines constitute the highest COVID-19 vaccine market share as they contain the purified pieces of pathogen rather than the whole pathogen to trigger the immune response. In the absence of any significant adverse effect on the human body, these vaccines are likely to observe substantial growth during the forecast period.

Novavax, Chinese Academy, and GSK/Sanofi are the major manufacturers that have approved protein-based vaccines for emergence use authorization. Protein-based vaccines can be used in patients with compromised immune responses.

Insights by Geography

The outbreak of the COVID-19 pandemic was witnessed across the globe. Countries such as the UK, the US, Italy, Spain, India, China were the most affected; however, Middle East and African countries observed a low to moderate occurrence rate. The APAC market dominated the global COVID-19 vaccine market with over 58% share, followed by Europe with 15% and North America with 12%.

The Middle East and Africa, and Latin America accounted for 10 % and 6%, respectively. Since the outbreak of the disease in 2019, which eventually was declared a pandemic by the WHO in March 2020, the spread has been thick and fast, swaying country after country and region after region.

Insights by Vendors

AstraZeneca, GlaxoSmithKline, Moderna, Gamaleya, Bharat Biotech, and Pfizer are the major manufacturers of COVID-19 vaccines. Biotechnology and pharmaceutical industries are intensely competitive and are characterized by rapid and significant technological progress in vaccine development. Multiple products have been approved by the USFDA, EU, and other regulatory bodies for emergency use authorization (EUA) worldwide. Many products are manufactured using the latest vaccine platforms in the market.

Key Questions Answered

1. Which manufacturers are coming up with COVID-19 vaccines in 2021?
2. What are the major challenges faced by vendors in the distribution of the COVID-19 vaccine?
3. What is the size of the COVID-19 vaccine market by 2021?
4. Who are the major market players?
5. Which regions are likely to generate the largest revenues in 2021?

The following factors are likely to contribute to the growth of the COVID-19 market during the forecast period:

  • Increased Initiatives for COVID-19 Vaccination
  • The emergence of Next Generation Vaccine Platforms for COVID-19 Vaccine
  • Fast Regulatory Approvals for COVID-19 Vaccines

Prominent Vendors

  • AstraZeneca
  • GlaxoSmithKline
  • Moderna
  • Gamaleya
  • Bharat Biotech
  • Pfizer
  • Johnson & Johnson
  • BioNTech
  • CureVac
  • Serum Institute of India
  • Novavax
  • Sinovac
  • Sinopharm

Upcoming Vendors

  • AnGes
  • AIVITA Biomedical
  • CanSinoBio
  • EuBiologics
  • Genexine
  • GreenLight Biosciences
  • Gennova
  • Heat Biologics
  • IIBR
  • Medicago
  • Symvivo
  • Valneva
  • Zydus Cadila

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview

8 Market Opportunities & Trends
8.1 Upcoming COVID-19 Vaccines
8.2 COVID-19 Vaccine Initiatives
8.3 Emergence of Next-Generation Vaccine Platforms

9 Market Growth Enablers
9.1 Faster Regulatory Approvals Of COVID-19 Vaccine
9.2 Rise In Number Of COVID-19 Patients
9.3 Contract Manufacturers Accelerating COVID-19 Vaccine Production

10 Market Restraints
10.1 COVID-19 Vaccine Distribution Among LMICs
10.2 Adverse Events & Negative Impact Of Approved Vaccines
10.3 Low Acceptance Of COVID-19 Vaccine

11 Market Landscape
11.1 Market Overview
11.2 COVID-19 Vaccine Pipeline
11.3 Market Size & Forecast
11.4 COVID-19 Supply Chain
11.5 Role of Contract Manufacturers in Manufacturing COVID-19 Vaccines
11.6 Five Forces Analysis

12 Technology
12.1 Overview
12.2 Vector-Based COVID-19 Vaccine
12.3 Nucleic Acid-Based COVID-19 Vaccine
12.4 Protein-Based COVID-19 Vaccine
12.5 Whole Virus COVID-19 Vaccine

13 Geography
13.1 Market Snapshot & Growth Engine
13.2 Geographic Overview

For more information about this report visit


Contact Data