Pune, April 22, 2020 (GLOBE NEWSWIRE) -- The global COVID-19 vaccine-addressable market size is likely to expand as the unforeseen spread of the COVID-19 is anticipated to redesign the growth trajectory of this market, states Fortune Business Insights™ in its latest special report on the “COVID-19 Vaccine–Addressable Market”. According to numbers compiled by the Johns Hopkins University in the US, as of April 21, 2020, the number of confirmed COVID-19 cases worldwide stands just under 2.4 million, with roughly 167,575 deaths. The most troubling feature of the coronavirus has been the rate of its spread, evolving from a sizeable threat to a full-blown pandemic within a month. For example, data from Johns Hopkins shows that the number of cases jumped from one million on April 2 to two million by April 15, spiking at a rate of 100% in a span of weeks. As a result, the race for vaccine and treatments to contain the COVID-19 outbreak has gotten even more intensified and is reshaping the COVID-19 vaccine-addressable market trends. According to the vaccines market report published before the coronavirus pandemic, the value of the vaccines market was at USD 41.6 billion in 2018 and was expected to reach USD 93.08 billion by 2026 at a CAGR of 10.7%.
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The report offers the following:
- In-depth analysis of the impact of the COVID-19 outbreak on the market;
- Comprehensive profiling and evaluation of the key companies involved in the development of vaccine for COVID-19;
- Careful study of pipeline candidates to tackle the pandemic; and
- Detailed insights into the changing regional dynamics influencing the market.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To get the short-term and long-term impact of COVID-19 on this Market.
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Promising Academic Research on Vaccines to Energize Market Spirits
Academic institutions, primarily universities, have been spearheading the research on developing vaccines and treatments against the coronavirus. Their sustained efforts have led to hopeful outcomes. In April 2020, UK’s University of Oxford announced that it has made a breakthrough in developing a vaccine for COVID-19 and is ready to conduct clinical trials. The Jenner Institute, operating under Oxford, will be producing the vaccine and the university is collaborating with companies in Asia, UK, and Europe to scale up the production once the vaccine is ready for delivery. In Canada, researchers at the University of Waterloo are currently developing a DNA-based vaccine to prevent infection from COVID-19 that can be administered through the nose. In India, vaccine maker Indian Immunologicals has joined forces with the Griffith University in Australia to engineer a live attenuated coronavirus vaccine, employing the codon de-optimization technology. Concerted research efforts are, therefore, expected to favor the vaccines market growth during 2020.
Surging Number of Cases in the US to Drive the Market in North America
North America dominated the vaccines market in 2018, accounting for 53% of the market, and is likely to lead the COVID-19 vaccine-addressable market share in 2020 as the US now has the highest number of coronavirus-infected people as well as the highest death toll. As of April 18, the number of confirmed COVID-19 cases in the US stood at 715,000 and the number of deaths just over 40,000. After North America, Europe is anticipated to offer lucrative opportunities for the market as Europe’s economic hubs, namely, Italy, Spain, France, Belgium, Germany, Netherlands, and the UK, have been crippled by the COVID-19 pandemic. In response, pharmaceutical companies, governments, and academic institutions are actively collaborating to develop vaccines and treatments to handle this crisis.
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Increasing Collaborations among Private Players and Government Bodies to Fuel Competition
Competition in this market is targeted towards the common goal of developing and launching a vaccine for the coronavirus as early as possible, the COVID-19 vaccine-addressable market analysis points out. To that end, companies, academia, and government bodies specializing in healthcare are actively teaming up to pool their research capabilities to effectively tackle the pandemic.
Industry Developments:
- April 16, 2020: US-based Dynavax Technologies and China-based Sinovac Biotech joined forces to develop a vaccine candidate against the coronavirus. Under their partnership, the companies will test the efficacy of Sinovac’s inactive vaccine when it is combined with CpG 1018, Dynavax’s adjuvant used in its Hepatitis-B vaccine.
- March 30, 2020: The U.S. Department of Health and Human Services (HHS) announced that it will support the non-clinical different trial phases of two investigational vaccines against COVID-19 developed by the New Jersey-based Janssen Research & Development and the Massachusetts-based Moderna, Inc.
List Companies and Institutions Covered in the COVID-19 Vaccine-Addressable Market Report:
• University of Pittsburgh School of Medicine (USA)
• Sinovac Biotech Ltd. (China)
• Moderna Inc. (USA)
• Johnson & Johnson Services, Inc. (USA)
• Sanofi (France)
• GlaxoSmithKline plc (UK)
• BioNTech SE (Germany)
• CanSino Bio-B (China)
• Inovio Pharmaceuticals, Inc. (USA)
• Merck & Co. (USA)
• Pfizer Inc. (USA)
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Industry Challenges
- Market Opportunities
- Key Insights
- COVID-19 Disease Overview
- Epidemiology and Outbreak Analysis of COVID 19 by Key Countries
- Comparison of COVID-19 Pandemic with Previous Epidemics Such as SARS and MERS
- Steps Being Taken by Governments to Develop aCOVID-19 Vaccine
- Key Industry Developments – Collaborations & Partnerships in the Development of COVID-19 Vaccine
- Statistics on Ageing Population – For Key Countries
- Statistics on Prevalence of Chronic Diseases – For Key Countries
- COVID-19 Vaccine – Pipeline Assessment
- By Technology Platform / Molecule Type
- By Recruitment Status
- By Study Phase
- By Gender
- By Study Type
- By Sponsor
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