COVID-19 Impact on Vaccines & Drugs Market By Type (Vaccine and Drugs), By End-user (Hospitals, Clinical, and Others), and By Region - Market Trends, Analysis, and Forecast till 2029

COVID-19 vaccines market accounted for USD 2.6 Billion in 2020 and is estimated to be USD 1.5 Billion by 2025 and is anticipated to register a CAGR of 10.4%

Vaccines are doses of killed microbes. They stimulate the immune systems of the body against that particular microbe, preventing the diseases. As the dead microbes of the disease are injected, the body develops resistance towards that particular type of microbe thus preventing the disease. Further, drugs are compounds that change the functioning of the consumer when inhaled. Thus, both vaccines and drugs are used to prevent and treat diseases. The rise in the number of infectious diseases across the globe including Swine Flu, Influenza, Ebola, hepatitis Tuberculosis, and more drives the market for vaccines and drugs.

An increasing number of clinical trials

An increasing number of clinical trials drive the growth of the vaccine and drug market. For instance, on 17th April 2020, the National Medical Products Administration of China approved Two COVID-19 inactivated vaccines for phases 1 and 2 combined trials. Additionally, in March 2020, two major pharma companies, Pfizer and BioNTech declared a joint venture to co-develop and distribute coronavirus vaccine. Similarly, in April 2020, Johnson & Johnson proclaimed to produce to 900 million COVID-19 vaccines by the first quarter of 2021. Therefore, the outbreak of the pandemic has stirred share activity in the vaccine and drug market leading to its growth.

At present, about 155 molecules are under clinical investigation, and around 45 molecules are under preclinical development to be targeted against COVID-19. In which, four promising drugs have been repurposed for use against COVID-19.

• Remdesivir
• Chloroquine and hydroxychloroquine
• Ritonavir/lopinavir
• Ritonavir/lopinavir and interferon-beta

According to data published in June 2020, the National Institutes of Health (NIH) is planning late-stage studies for multiple COVID-19 vaccines. The NIH intends to start a phase 3 trial of Moderna’s vaccine in July 2020, followed by an August trial of AstraZeneca’s vaccine and a September study of Johnson & Johnson’ shot.

Funding from governments and foundations globally

Incentives are required to involve manufacturers for the large-scale capacity production in order to guarantee adequate production of SARS-CoV-2 vaccines.

Several global organizations have come forward to accelerate the process, such as CEPI, Gavi, and WHO. Still, witnessing the pandemic scenario of COVID-19, much stronger initiatives are needed. In April 2020, the Bill and Melinda Gates Foundation declared strategies to help fund factories for seven promising vaccines, even before seeing conclusive data. The purpose of the foundation is to scale up manufacturing during testing. Also the most promising Moderna program, various other big pharma companies are involved in COVID-19 vaccine work. Sanofi has two partnerships in its pipeline i.e. with the federal government and others with Translate Bio. Johnson & Johnson has promised a manufacturing scale-up to 1 billion doses for its federally partnered program.

However, stringent regulations and the lengthy approval procedure hampers the growth of the market during the forecast period.

The COVID-19 impact on vaccines & drugs market is segmented based on type, end-user, and region.

On the basis of the type, the COVID-19 impact on vaccines & drugs market is segmented into vaccines and drugs. Based on the end-user, the target market is segmented into hospitals, clinical, and others.

In the region, the COVID-19 impact on vaccines & drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the dominating region in terms of market share across the globe due to the presence of major pharma companies in the region that have the funds to develop the vaccine. Although, Asia-Pacific is also expected to register the highest growth rate / CAGR during the forecast period 2020-2026. This is mainly attributed due to growing populations and a rising number of cases coupled with early clinical trial approvals would provide lucrative growth prospects for the vaccine and drug market across the Asia-Pacific region.

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029.  For the purpose of this study, has segmented the COVID-19 impact on vaccines & drugs market report based on type, end-user, and region.

 COVID-19 Impact on Vaccines & Drugs Market, By Type:

• Vaccine
• Drugs

COVID-19 Impact on Vaccines & Drugs Market, By End-user:

• Hospitals
• Clinical
• Others

COVID-19 Impact on Vaccines & Drugs Market, By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • Indonesia
  • Malaysia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East & Africa

The key players operating in the COVID-19 impact on vaccines & drugs market include Pfizer, Inc., Serum Institute of India, Johnson & Johnson Services, Inc., F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Sanofi S.A, Gilead Sciences, Inc., Merck KGaA, and Janssen Pharmaceuticals, Inc. Major manufacturers in the biotech industry, including pharmaceutical companies and research organizations such as the National Institutes of Health (NIH), US, are being supported by governments to develop novel vaccines and drugs to combat this deadly virus. Currently, the players are engaged in the development of novel drugs for treating coronavirus include AbbVie Inc., BioCryst Pharmaceuticals, Inc., Regeneron Pharmaceuticals, Inc., and companies witnessing the development of vaccines as a preventive measure include Novavax, Inc. and Inovio Pharmaceuticals, Inc.

• Pfizer, Inc.
• Serum Institute of India
• Johnson & Johnson Services, Inc.
• F. Hoffmann-La Roche Ltd.
• GlaxoSmithKline plc
• Sanofi S.A
• Gilead Sciences, Inc.
• Merck KGaA
• Janssen Pharmaceuticals, Inc.