Covid Vaccine Market to Cross $35 Billion by 2021

COVID-19 Vaccine market size is projected to reach revenues of around $35 billion by 2021 according to Arizton Advisory and Intelligence. In-depth analysis and data-driven insights on the impact of COVID-19 have been included in this global COVID-19 vaccine market report. The COVID-19 vaccine market is expected to register a growth rate of over 6% during the period 2021−2022.

COVID Vaccine Market Size to Reach $ 35 Billion by 2021

APAC accounted for the major revenue due to the implementation of large-scale immunization programs being initiated by various countries, especially in China and India. The vaccination programs are being carried out in huge volumes to fully vaccinate all the citizens of respective countries.

The report underlines that India has emerged as the new vaccine development and manufacturing hub as Serum Institute of India and Bharat Biotech are actively engaged in distributing millions of vaccine doses to various countries. The country already sent around 5.6 million doses of domestic COVID-19 vaccines to around 47 countries.

COVAX plans to supply 2 billion doses of COVID-19 vaccines by the end of 2021. They focus on providing dosage for at least 20% of the country population, to end the acute phase of the pandemic. COVAX has delivered more than 20 million doses in their first week of distribution.

Meanwhile, developed countries such as Canada, the US, the UK, and Germany have procured COVID-19 vaccines in surplus for their population. Owing to this, some developing and low-income countries are likely to get late access to the COVID-19 vaccines.

Many vendors are focusing on developing and commercializing new vaccines such as mRNA-based, DNA-based, attenuated, protein-based, and antigen presenting cell vaccines as a solution to stop the spread of COVID-19 cases worldwide. Protein-based vaccines are accounting for around 30% of the COVID-19 vaccine pipeline.

Major COVID-19 vaccine vendors include Moderna, Pfizer, BioNTech, Serum Institute of India, Bharat Biotech, CureVac, AstraZeneca, GlaxoSmithKline, Novavax, Sinovac, Sinopharm among others. While upcoming vendors include Heat Biologics, Inovio and Zydus Cadila.