Growing cases of COVID-19 disease across the
globe to drive the growth of global coronavirus vaccine market
According to
TechSci Research report, “Global Coronavirus Vaccine Market By
Type of Test (Molecular v/s Serology), By Use (Disposable v/s Reusable), By
Full Test Time (5 Minutes, 5- 15 Minutes, 15-60Minutes, 1 Hours- 5 Hours, 5
Hours-12Hours, 12 Hours-24Hours, More Than 1 Days), By Technology (RT-PCR, IgG,
IgM ELISA Test, Microneutralization Assays), By Specimen Type (Nose &
Throat Swab, Blood, Sputum, Nasal Aspirate), By Mobility (Portable v/s
Stationary), By End Use (Hospitals, Clinics, Public Health Labs, Private or
Commercial Labs, Physician Labs, Research Institutes, Others), By Region,
Forecast & Opportunities, 2025”, the global
coronavirus vaccine market is expected to grow at a robust rate during the forecast
period on account of the increasing R&D 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, so that they can eradicate this
disease from the globe, 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.
However, high cost of R&D involved in the development of vaccine might
hamper the growth of market especially in the developing economies.
Additionally, development of a potential vaccine requires a lot of time, it is a
long process in which the vaccine must clear various tests and trials, thereby
slowing down the market growth. Also, vaccine development is a various complex
process. Furthermore, post development and getting approval by the FDA, there
arises a need to produce the vaccine in large volumes necessary to end the
pandemic. This also involves both time and cost, thereby impeding the market
growth
Browse XX market data Tables and XX Figures
spread through XXX Pages and an in-depth TOC on" Global Coronavirus Vaccine Market"
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 inactivated coronavirus vaccine, live
attenuated coronavirus vaccine and S-protein based coronavirus vaccine. The
live attenuated coronavirus 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 S-protein based coronavirus vaccine is
expected to register the highest growth since the vaccines that are under
development and have entered the clinical trials are S-protein based ones,
which are either using DNA or mRNA of the virus. 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.
Inovio Pharmaceuticals, Inc., Moderna, Inc.,
Novavax, Inc., Johnson & Johnson, Pfizer, Sanofi, Protein Potential, LLC,
AlphaVax, Inc., Synairgen PLC, NanoViricides, Inc., GeneCure, LLC,
GlaxoSmithKline (GSK), Zydus Cadila, Serum Institute, Bharat Biotech, CanSino
Biological Inc, FluGen, I-Mab Biopharma, Medicago, Airway Therapeutics and
others are some of the leading players operating in global coronavirus vaccine
market. The companies operating in the market are using organic strategies such
as product launches, mergers and collaborations to boost their share. For
instance, GlaxoSmithKline is developing a “molecular clamp” vaccine, which
would contain the protein that enables COVID-19 to enter human cells. This
method was worked up by the University of Queensland in Australia. Also, 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 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, presence of major players such as Inovio Pharmaceuticals, Inc.,
Moderna, Inc., Novavax, Inc., among others, who are aggressively developing the
vaccine, is expected to create lucrative opportunities for the market growth
through 2025.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global
Coronavirus Vaccine Market By Type of Test (Molecular v/s Serology), By Use
(Disposable v/s Reusable), By Full Test Time (5 Minutes, 5- 15 Minutes,
15-60Minutes, 1 Hours- 5 Hours, 5 Hours-12Hours, 12 Hours-24Hours, More Than 1
Days), By Technology (RT-PCR, IgG, IgM ELISA Test, Microneutralization Assays),
By Specimen Type (Nose & Throat Swab, Blood, Sputum, Nasal Aspirate), By
Mobility (Portable v/s Stationary), By End Use (Hospitals, Clinics, Public
Health Labs, Private or Commercial Labs, Physician Labs, Research Institutes, Others),
By Region, Forecast & Opportunities, 2025”, 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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