Covina, CA, June 22, 2020 (GLOBE NEWSWIRE) -- The global COVID-19 vaccines market accounted for US$ 2.6 billion in 2020 and is estimated to be US$ 1.5 billion by 2025 and is anticipated to register a CAGR of -10.4%
The global drugs market accounted for US$ 156.0 billion in 2020 and is estimated to be US$ 2.3 billion by 2025 and is anticipated to register a CAGR of -57.0%
Technological advancements in the pharmaceutical sector comprising the development of nucleic acid vaccines that are DNA- and RNA-based, and which allow the human body to produce vaccine antigen. Such initiatives and activities are expected to support market growth to a substantial extent.
The report "Global COVID-19 Impact on Vaccines & Drugs Market, By Type (Vaccine and Drugs), By End-user (Hospitals, Clinical, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2025”.
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Key Highlights:
Analyst View:
An increasing number of clinical trials
An increasing number of clinical trials drive the growth of the vaccine and drug market. For instance, on 17th April 2020, the National Medical Products Administration of China approved Two COVID-19 inactivated vaccines for phases 1 and 2 combined trials. Additionally, in March 2020, two major pharma companies, Pfizer and BioNTech declared a joint venture to co-develop and distribute coronavirus vaccine. Similarly, in April 2020, Johnson & Johnson proclaimed to produce to 900 million COVID-19 vaccines by the first quarter of 2021. Therefore, the outbreak of the pandemic has stirred share activity in the vaccine and drug market leading to its growth.
At present, about 155 molecules are under clinical investigation, and around 45 molecules are under preclinical development to be targeted against COVID-19. In which, four promising drugs have been repurposed for use against COVID-19.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global COVID-19 Impact on Vaccines & Drugs Market”, By Type (Vaccine and Drugs), By End-user (Hospitals, Clinical, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2025
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Key Market Insights from the report:
The global COVID-19 vaccines market accounted for US$ 2.6 billion in 2020 and is estimated to be US$ 1.5 billion by 2025 and is anticipated to register a CAGR of -10.4%
The global drugs market accounted for US$ 156.0 billion in 2020 and is estimated to be US$ 2.3 billion by 2025 and is anticipated to register a CAGR of -57.0%. The market report has been segmented on the basis of type, end-user, and region.
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Competitive Landscape:
The prominent player operating in the global COVID-19 impact on vaccines & drugs market includes Pfizer, Inc., Serum Institute of India, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Sanofi S.A, Gilead Sciences, Inc., Merck KGaA, and Janssen Pharmaceuticals, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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