United States Coronavirus Vaccine Market to Grow at a Significant Rate through 2026
Growing number of corona patients and
rising awareness about corona is expected to drive the demand for United States
coronavirus vaccine market for the forecast period.
According to TechSci Research report, “United
States Coronavirus Vaccine Market By Type (mRNA Based v/s Vector Based) By
Required Number of Doses (Two v/s One) By Patient Type (Adult v/s Pediatric) By
End User (Hospitals, Clinics, Research Institutes, Others) By Company, By
Region, Forecast & Opportunities, 2026”, The United States coronavirus
vaccine market is expected to witness significant growth for the next five
years. Coronavirus disease is caused by newly discovered coronavirus that is
SARS-CoV-2 which had spread all around the world at an exponential rate and
declared as a pandemic by World Health Organization. When the virus enters the
human body such as COVID-19 virus, they attack the body and get multiplied,
this process of invasion into the body is called illness. Immune system uses
every method possible to fight the coronavirus. The coronavirus pandemic had
taken a huge hit on the developed healthcare infrastructure of United States as
number of patients requires medical attention increased day by day and
generated the need for more ventilators, oxygen concentrators, cryogenic
tankers, pulse oximeter, among other medical devices. Government of United
States of America have taken appropriate precautionary measures and announced
complete lockdown to avoid the spread of coronavirus to large number of people
which lead to adversely impact the economic and social conditions of the
country. Leading authorities have taken strong measure to contain the spread of
disease by providing better diagnostics and treatment in healthcare facilities.
Coronavirus vaccine is an efficient way to increase the immunity of people and
provide resistance to the coronavirus. To fight the pandemic, coronavirus
vaccines manufacturing process took place at a rapid pace as these vaccinations
provide immunity to the human body by training the immune system to recognize
the pathogen when it enters the human body naturally and take necessary steps
by reducing the risk of spread into the body. The spread of coronavirus is
taking place at different intervals such as first wave, second wave, and
others. For providing its citizens the safety and reduce the death rate
happening everyday in the region, the need for coronavirus vaccines is on rise.
Increase in healthcare expenditure due to the rising cases of coronavirus
pandemic to increase the capacity of healthcare systems to accommodate more
people to provide effective treatment. Growing need for advanced ICU facilities
and develop public healthcare infrastructure to develop preventive measures for
fighting the coronavirus pandemic. Surge in research and development activities
for developing effective vaccines at large scale is fueling the growth of the
market for the forecast period.
However, high costs for research and development
of coronavirus vaccine and the requirement of large amount of time to conduct
successful clinical trials may hamper the growth of the coronavirus vaccine
market.
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United States coronavirus vaccine market is segmented into type,
required number of does, patient type, end user, regional distribution, and
company. Based on patient type, coronavirus vaccine market is further
bifurcated into adult and paediatric. The adult segment is expected to dominate
the market for the forecast period, 20222-2026. Vaccine manufacturing companies
launched vaccines majorly covering the adult segment age group and many
clinical trials are on run to test the effectiveness of vaccine on children. Adults
are more aware about being healthy and the benefits associated with getting
vaccinated. Based on end user, market is fragmented into hospitals, clinics,
research institutes and others. The hospital segment is expected to account for
major market share for the next five years due to rising number of people
getting infected by coronavirus every day and the surge in number of people
dying due to the spread of novel coronavirus. Increase in healthcare
expenditure and the shield coronavirus vaccines provide form deadly diseases is
fueling the demand for vaccines market. Also, the government supportive
policies and increasing hospital admissions rates is fostering the demand for
coronavirus vaccines.
Pfizer Inc., Moderna Inc., Johnson & Johnson, BioNTech
SE, Novavax, Inc. are the leading players operating in United States coronavirus
vaccine market. Manufacturers are increasingly focusing on research and
development process to fuel higher growth in the market. To meet evolving
customer demand with respect to better efficiency and durability, several coronavirus
vaccine manufacturers are coming up with their technologically advanced
offerings.
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“Rising
healthcare investments by leading authorities to protect its citizens from the
novel coronavirus along with surge in awareness about the benefits associated
with vaccination is a major driver for the growth of the coronavirus vaccine market.
Government initiatives to increase the production of coronavirus vaccine and
launch of plans to deliver vaccines directly to pharmacy stores and drug stores
is expected to boost the coronavirus vaccine market until 2026” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“United States
Coronavirus Vaccine Market By Type (mRNA Based v/s Vector Based) By Required
Number of Doses (Two v/s One) By Patient Type (Adult v/s Pediatric) By End User
(Hospitals, Clinics, Research Institutes, Others) By Company, By Region,
Forecast & Opportunities, 2026” has evaluated the
future growth potential of United States coronavirus vaccine market and provided
statistics & information on market size, shares, 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 the of United States coronavirus vaccine market.
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