COVID-19 Impact on Vaccines & Drugs Market

Leading Players in Vaccines and Drugs Market Have Entered the Race to Launch Vaccines and Drugs Targeting COVID-19

The global COVID-19 vaccines market is projected to reach USD 1,401 million by 2025 from USD 2,273 million in 2022, at a CAGR of -14.9%% during the forecast period. The growth of the COVID-19 vaccines market is attributed majorly to the rising number of people infected with COVID-19 and increasing funding for vaccine development.

The global COVID-19 drugs market is projected to reach USD 2 million by 2025 from USD 165 million in 2020, at a CAGR of -57.8% during the forecast period. The growth of the COVID-19 drugs market is attributed primarily to the use of repurposed drugs for compassionate use and the emergence of alternative therapies such as convalescent plasma therapy, which were earlier used for treating epidemic diseases such as SARS, MERS, and H1N1. Moreover, collaborations between global organizations and governments of various nations to promote supply of essential drugs and medical supplies are augmenting the market growth. However, factors such as herd immunity and uncertainty over the efficacy of vaccines and drugs are expected to hinder the market growth.

To know about the assumptions considered for the study download the pdf brochure

Some of the major players in the COVID-19 vaccines market include Pfizer Inc. (US), Johnson & Johnson Services, Inc (US), GlaxoSmithKline plc. (UK), Sanofi (France) Serum Institute of India (India), among others. Major players in the COVID-19 drugs market include Gilead Sciences, Inc. (US), Sanofi (France), F. Hoffmann-La Roche Ltd (Switzerland), Merck KGaA (Germany), Janssen Pharmaceuticals, Inc. (Belgium) among others.

Of the confirmed active vaccine candidates, the majority are being developed by private/industry developers, with the remaining projects are being led by academic institutes as well as public-sector and other non-profit organizations. Although several large multinational vaccine developers (such as Janssen, Sanofi, Pfizer, and GlaxoSmithKline) have already engaged in COVID-19 vaccine development, many of the leading developers are small and/or inexperienced in large-scale vaccine manufacturing. This makes it crucial to ensure the coordination of vaccine manufacturing and supply capabilities and the capacity to meet demand.

Some of the key players are collaborating to expedite the vaccines and drug development. For instance, In February 2020, Janssen announced that it would work collaboratively with laboratories to screen antiviral therapies. Janssen already donated several doses of PREZCOBIX (for research use) to the Shanghai Public Health Clinical Center, Zhongnan Hospital of the Wuhan University, and the Chinese Center for Disease Control and Prevention. Big players in vaccines have also entered the race of launching vaccines targeting COVID-19, such as GSK and Sanofi. Sanofi and GSK are coming together to work on a Covid-19 vaccine, which, if it passes clinical trials, will become available in the next 12- 18 months’ timeline.

Related Reports:

COVID-19 Impact on Vaccines & Drugs Market - Global Forecast to 2025

Contact:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

COVID-19 Impact on Vaccines & Drugs Market Size,  Share & Growth Report
Report Code
PH 7608
RI Published ON
5/4/2020
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

SEND ME A FREE SAMPLE
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2022 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status