Press Release

North America to Dominate Coronavirus Vaccine Market Through 2026

Growing cases of COVID-19 disease across the globe to drive the growth of global coronavirus vaccine market by 2026.

According to TechSci Research report, Global Coronavirus Vaccine Market By Infection Type (SARS-CoV-2, SARS-CoV, MERS-CoV), By Vaccine Type (Virus Vaccine, Viral Vector Vaccine, Nucleic Acid Vaccine, Protein Based Vaccine and Others), By Product Type (Monovalent Vaccine v/s Multivariant Vaccine), By Route of Administration (Intramuscular, Oral, Intranasal), By Patient Type (Adults v/s Pediatric), By End User (Hospitals, Clinics, Research Institutes, Others), By Region, Forecast & Opportunities, 2026, the global coronavirus vaccine market is expected to rise in 2021 and 2022 in value terms to reach USD91325.46 million in 2021. The global coronavirus vaccine market is expected to grow at a robust rate during the forecast period on account of the increasing research and development activities related to manufacture of coronavirus vaccine by the major companies and research laboratories around the globe. Additionally, increasing funding & grants by various governments around the world for development of vaccine to contain coronavirus, is expected to foster the market over the next few years. Furthermore, increasing healthcare spending and rising need to protect the population from the outbreak are positively impacting the growth of market.

The major challenge that will hamper the growth of coronavirus vaccine will be the post vaccination’s side-effects. After the administration of COVAXIN developed by Bharat Biotech International Ltd and COVISHIELD by Serum Institute of India, swelling at the injection site, fever, body ache, nausea, rashes, arm stiffness etc. are the common side effects post vaccination. The efficacy rate of the coronavirus vaccine will be the deciding factor for choosing the vaccine, the efficacy rate of SPUTNIK developed by Gamaleya Research Institute is reported to be 91.6%, the efficacy rate of COVISHIELD is 70.4% and that of COVAXIN is 78-81%.

Today, several COVID-19 vaccines have been approved to administer into public. In India, COVAXIN phase II/III clinical trials for pediatric children falling in the age group of 2-18 has begun. Medicago along with GSK and Dynavax is developing plant based adjuvant vaccine (VIR-7831), which is under phase III trial.

Browse over 187 market data Figures spread through 110 Pages and an in-depth TOC on " Global Coronavirus Vaccine Market"

https://www.techsciresearch.com/report/coronavirus-vaccine-market/4694.html

The global coronavirus vaccine market is segmented based on infection type, vaccine type, product type, route of administration, patient type, end user, company, and region. Based on vaccine type, the market can be categorized into virus vaccine, viral vector vaccine, nucleic acid vaccine, protein based vaccine and others. The virus vaccine is expected to hold the largest market share during forecast period since this is the most traditional method used for the development of vaccines. While the protein based coronavirus vaccine is expected to register the highest growth since the most of the vaccines that are under development and have entered the clinical trials are protein based ones. Based on patient type, the market can be bifurcated into pediatric and adult. The adult segment is expected to dominate the market since mostly the adults especially the geriatric population, is getting affected by the COVID-19 disease. However, in the forecast period pediatric patient type will be leading the market.

Some of the major competitors in the market are Moderna, Inc., Johnson & Johnson SA, Pfizer Inc., Sinopharm Group Company Ltd., AstraZeneca PLC, Serum Institute of India Pvt Ltd., Bharat Biotech International Ltd., Sinovac Biotech Ltd., Sanofi SA, GlaxoSmithKline PLC, Novavax, Inc., Airway Therapeutics, Inc., Cadila Healthcare Ltd., CanSino Biologics Inc., Mitsubishi Chemical Holdings Corporation, Eubiologics Co. Ltd., United Biomedical Inc., Merck & Co., Inc., CureVac N.V., Inovio Pharmaceuticals, Inc. The companies are focusing on extensive research and development activities to stay competitive in the market.

The companies operating in the market are using organic strategies such as product launches, mergers, and collaborations to boost their share. Bharat Biotech has collaborated with the University of Wisconsin Madison and US-based company FluGen to develop a vaccine, Coro-Flu, against COVID-19.

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“North America is expected to dominate the coronavirus vaccine market during the forecast period owing to the increasing R&D investments for the development of a potential vaccine against the coronavirus in the region. Additionally, supportive government policies & schemes are further expected to propel the market. Furthermore, the presence of major players such as Moderna, Inc., Pfizer Inc., Novavax, Inc., among others, who are aggressively developing the vaccine, is expected to create lucrative opportunities for the market growth through 2026.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Global Coronavirus Vaccine Market By Infection Type (SARS-CoV-2, SARS-CoV, MERS-CoV), By Vaccine Type (Virus Vaccine, Viral Vector Vaccine, Nucleic Acid Vaccine, Protein Based Vaccine and Others), By Product Type (Monovalent Vaccine v/s Multivariant Vaccine), By Route of Administration (Intramuscular, Oral, Intranasal), By Patient Type (Adults v/s Pediatric), By End User (Hospitals, Clinics, Research Institutes, Others), By Region, Forecast & Opportunities, 2026, has evaluated the future growth potential of global coronavirus vaccine market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global coronavirus vaccine market.


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