"Corona Virus Vaccine Market Size is Projected to reach 75.75 Billion by end of 2021, Says Brandessence Market Research" – PR Newswire India

PUNE, India, March 2, 2021 /PRNewswire/ -- The Global Demand for global corona virus vaccine market in terms of revenue was worth of USD 0.37 Billion in 2020 and is expected to reach USD 75.75 Billion in 2021. The global corona virus vaccine market is expected to grow at significant growth rate due to number of driving factors.

The study provides a crucial view of global corona virus vaccine market by segmenting the market based on infection type, vaccine type and region & country level. Based on infection, the corona virus vaccine market is segmented into HCoV-229E, HCoV-OC43, HKU1-CoV, NL63, MERS-CoV, New Haven CoV, SARS-CoV and SARS-CoV-2. Based on vaccine type, the market is segmented into S-protein based coronavirus vaccine, live attenuated coronavirus vaccine, inactivated coronavirus vaccine, MRNA vaccine and DNA-based vaccine. The regions covered in global virus testing diagnostic kits market are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global virus testing diagnostic kits market is sub divided into U.S., Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Brazil, Mexico, GCC, Africa, etc.

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Key Companies Covered in the Corona Virus Vaccine market: Inovio Pharmaceuticals, Inc. Moderna, Inc., Protein Potential, LLC, Novavax, Inc., Synairgen PLC, AlphaVax, Inc., NanoViricides, Inc., Zydus Cadila, Bravovax, GeoVax, Altimmune, Janssen Pharmaceutical Companies, CanSino Biologics, Vaxart, Vaxil Bio Ltd

When most people in a community are vaccinated against a disease, the ability of the pathogen to spread is limited as vaccines can prevent infectious diseases. It greatly reduces the risk of infection by training the immune system to recognize and fight pathogens such as viruses or bacteria. As Coronavirus disease (COVID-19) is an infectious disease caused by a newly discovered coronavirus i.e. SARS-CoV-2, which has spread rapidly throughout the world and in March 2020, the World Health Organization (WHO) declared the COVID-19 outbreak a pandemic. This pandemic has severely weakened health systems & economic and social progress globally. While countries, have taken strong measures to cover the spread of COVID-19 through better diagnostics and treatment, the coronavirus vaccines will provide a lasting solution by enhancing immunity and containing the disease spread. In response to the pandemic, the vaccine development process has been fast-tracked, as these vaccines safely deliver an immunogen which is a specific type of antigen that produces a resistant response for training the immune system to recognize the pathogen when it is come across naturally. There are many different COVID-19 vaccines are at development stage because it is not yet known which ones will be effective and safe. In April 2020; the access to COVID-19 Tools (ACT) Accelerator was launched to speed up development & delivery to countries of diagnostics, treatments and vaccines.

Factors such as the present coronavirus outbreak, increasing healthcare expenditures, growing concerns regarding Corona virus outbreaks at regular intervals and the growing need to protect populations across the globe from known as well as unencountered virus strains are expected to drive the growth of the market. For example; the 2019 novel coronavirus (2019-nCoV) was officially named as COVID-19 pandemic by the World Health Organization and has spread to more than 180 countries and the pandemic has had a negative impact on mental health. And, as of February 16th, 2021, India has about 10925710 confirmed cases of COVID-19 and globally, there are about 10,91,51,283 confirmed COVID-19 cases across 192 counties which has led to about 24,07,688 deaths.

In addition, health financing is necessary to the ability of health systems to maintain & improve human welfare and as there is a rapid growth in cases of COVID-19, which has challenged national healthcare capacity, testing systems at an advanced ICU and public health infrastructure level to develop the preventive measure for the pandemic. Thus, many regional governments are taking so many efforts and spending much more expenditures to develop a vaccine. For instance; on February 11th, U.S. President Joe Biden announced his administration has secured about 200 million more doses of the Moderna and Pfizer-BioNTech vaccines i.e. about 50% increase and also the Biden administration plans to deliver more doses directly to drugstores & pharmacies to speed up delivery of vaccine as part of about $1.9 trillion COVID-19 rescue plan. Hence, increasing healthcare expenditure for corona vaccine is also driving the growth of global coronavirus vaccine market. Moreover, increasing research & development for the corona vaccine may boost the growth of global coronavirus vaccine market growth within the forecast period. However, time required for each stage of clinical trials of vaccine and high costs associated with research & development of vaccines and drugs may hamper the market growth.

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Global Coronavirus Vaccine Market: Market Player Analysis

Inovio Pharmaceuticals, Inc. Moderna, Inc., Protein Potential, LLC, Novavax, Inc., Synairgen PLC, AlphaVax, Inc., NanoViricides, Inc., Zydus Cadila, Bravovax, GeoVax, Altimmune, Janssen Pharmaceutical Companies, CanSino Biologics, Vaxart, Vaxil Bio Ltd

Geographically, North America region is expected to dominate the coronavirus vaccine market. This is due to increasing research & development activities for corona virus vaccine in the region and presence of major players such as Inovio Pharmaceuticals, Inc., Moderna, Inc. and Novavax, Inc. & among others, in this region. For instance, according to springer nature limited; Most COVID-19 vaccine development activity is in North America, with about 36 i.e. 46% of developers of the confirmed active vaccine candidates compared with about 14 (18%) in China, about 14 (18%) in Asia (excluding China) and Australia and about 14 (18%) in Europe. Also, on April 08, 2020, Novavax, Inc. Company has announced that it has identified a coronavirus vaccine candidate, NVX-CoV2373 and it will initiate a first-in-human trial in Mid-May of 2020.

Moreover, Europe is at second position in dominance and this is due to huge demand for coronavirus vaccine due to diverse coronavirus outbreaks in the current past, the presence of major players in countries in the region and rising investments in R&D activities, along with strong support from the government. For instance; on February 17th, 2021- Pfizer Inc. and BioNTech SE announced an agreement with the European Commission (EC) to supply an additional about 200 million doses of COMIRNATY-the companies' COVID-19 Vaccine to the 27 European Union (EU) member states. This new agreement is in addition to about 300 million doses which have already been committed to the EU through 2021 under the first supply agreement signed last year. The additional 200 million doses are expected to be delivered in 2021, with an estimated about 75 million to be supplied in the second quarter. So, the total number of doses to be delivered to the EU member states by the end of 2021 is about 500 million, with the potential to increase to about 600 million based on the option granted in the new agreement.

Global Market Trends of Corona Virus Vaccine.

In recent years, scientists and leading organizations are developing more than 110 vaccines by using wide range of techniques some of which are never been approved for medical purpose before and some of which are already well established. There are two sectors among the newest approaches for corona virus vaccine development that are viral vectors and RNA vaccines. These approaches are implementing for COVID-19 widely for numerous reasons such as their speed of development, scale and manufacturing fit as well as small dose size, all of which are highly desirable features for a rapid pandemic response. Both RNA and viral vectored vaccines have advents from doing investments in cell and gene therapies over the last 10 to 20 years. Some of the major trends in the global coronavirus vaccine market are.

A) Inactivated and Live Attenuated Vaccines:

Nowadays, almost all vaccines in use integrate an activated or weakened form of virus that is not able to cause diseases. When immune cells find out that they can make antibodies and these types of vaccines mainly contain selected viral proteins or inactivated viruses. These are pathogens that can be killed. The dead viruses can no longer multiply, but the body still determines them as intruders therefore, the body's defense system capable that antibodies are produced. The vaccinated individual does not develop the disease. This method utilizes based on tried and tested technology and it is already used in vaccines against diseases such as influenza, polio, whooping cough, hepatitis B, and tetanus.

Inactivated vaccines use a pathogen that can be modified so that it cannot replicate to stimulate individual immune system. They are safe because they cannot cause any type of diseases, but at the same time booster doses are particularly required. The inactivation approach includes heat, radiation or chemicals to eliminate the pathogen's genetic material, which stops it from replicating. Inactivated vaccines can trigger a strong immune reaction, but it is not as advantageous as reaction that live attenuated vaccines can produce. Owing to this reason, a person may need booster shots to ensure ongoing protection. The COVID-19 vaccines that Bharat Biotech, Sinovac and Sinopharm, have developed are inactivated vaccines. For example; Scientists at the private company Sinovac developed an activated COVID-19 vaccine called as CoronaVac, on the other hand, Bharat Biotech and the Indian Council of Medical Research co developed Covaxin.

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B) Genetic vaccines:

The gene-based vaccines include pure genetic information in the form of coronavirus DNA or mRNA type. Individual parts of genetic information from the pathogen are packed into nanoparticles and introduced into another cells. Once the vaccine is given inside the body, it should form harmless viral proteins that deliver strong immune protection.

o DNA Based Vaccine:

Many experimental vaccines do not give whole viruses. Instead, they offer genetic instructions for creating a viral protein. The protein can stimulate the immune system to produce antibodies and help in defensing against other coronaviruses. This method is known as a DNA vaccine. For example; the biotechnology company Inovio pharmaceuticals has previously developed experimental vaccines against MERS-CoV (INO-4700) and is evaluating a DNA vaccine against COVID-19. From the new study, comparing the immunogenicity of two investigational DNA based COVID 19 vaccines, researchers or scientists has shown the results that both prototypes induced potent immune response in mice. According to the scientists, their vaccines are based on a DNA-launched self-amplifying RNA (DREP) platform which is inexpensive, stable and also easy to produce and have a good safety profile.

o RNA Based Vaccine:

From the last few years, new technological innovation and research investment have enabled mRNA to become the milestone as a therapeutic tool in the fields of corona virus vaccine development. For example; the mRNA-1273 was the first mRNA vaccine which is developed by Moderna to be designed to fight against COVID-19 and has gained a time record of 63days from vaccine design to human trials. RNA vaccines hold more benefits including faster, cheaper, more adaptable and easier to volume produce than other vaccines. For example; BioNTech and Pfizer Company launched a coordinated program to compare RNA based COVID-19 vaccine candidates in clinical studies conducted in Germany and the United States. The program was arranged to support the selection of a single vaccine candidate and dose level for a pivotal international safety and efficacy trial purpose.

C) Viral Vector Vaccine:

Viral vectors use modified viruses as boosters to access genetic and cellular material are one of the most commonly deployed tools in the search for a vaccine for SARS-CoV-2. Furthermore, scientists are increasingly using viral vector vaccines in therapeutics research well before the coronavirus pandemic, due to their use in gene therapy and cell therapy has proven to be effective. Now, those same applications are being repurposed to develop a coronavirus vaccine. These vaccines use a well-established inactivated or killed viral vector including adenovirus to evaluate proteins of SARS COV2, so that proteins can be determined by individual immune system to produce an immune response.

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"Corona Virus Vaccine Market Size is Projected to reach 75.75 Billion by end of 2021, Says Brandessence Market Research" - PR Newswire India