June 07, 2021
According to the recent research report titled ‘Global Covid-19 Vaccine Market - Analysis By Product Type, Patient Type, End User, By Region, By Country (2021 Edition): Market Insights, Competition and Forecast (2020-2030)’, available with Market Study Report, global Covid-19 vaccine market is projected to garner strong returns over 2021-2030.
Robust government support for vaccine development and rising involvement of worldwide organizations in establishment of suitable immunization facilities in drastically hit areas are the key factors stimulating global Covid-19 vaccine market growth.
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Furthermore, surging demand for coronavirus vaccine, ongoing government activities to procure the vaccine, and discovery of new infection strains are expected to drive market development over the forecast period.
The document provides a detailed assessment of the marketplace, highlighting the key trends, primary growth drivers, and obstacles shaping the industry dynamics. It also offers insights into the competitive arena by assessing the top companies based on their financial parameters, mergers, partnerships, and product development.
Considering type, the market is categorized into multivalent vaccine, and monovalent vaccine. Based on patient type, global Covid-19 vaccine market is split into senior citizens, adult, and pediatric. Among these, senior citizens segment is expected to witness momentum creditable to government focus on immunizing vulnerable population. Outsourcing of vaccine manufacturing, and cooperation among producers, hospitals and doctors to better understand demand and meet requirements will further act as growth stimulants.
As per end user scope, the industry segmentation comprises academic & research institute, vaccination centers, clinics, hospitals, and others. Of these, hospitals segment, followed by clinics, vaccination centers, and academic & research institute is poised to capture notable industry share over the forecast period, as government and healthcare bodies are trying to vaccinate the populace to prevent the virus from spreading further.
Speaking of geographical ambit, the prominent regions influencing global Covid-19 vaccine market valuation are North America (Canada, United States), Europe (United Kingdom, France, Germany, Switzerland, Russia), and Asia Pacific (India, Japan, and China).
As per the report, North America Covid-19 vaccine industry, followed by Europe industry, and Asia Pacific industry is slated to witness noteworthy growth in the forthcoming years, attributable to second and third wave of COVID-19 and emerging mutant viruses. Additionally, increasing pool of COVID-19 patients, presence of major vendors, and companies improving their production capabilities are also contributing to the regional market outlook.
Elaborating on the competitive arena, BioNTech SE, Moderna Inc., CSL Ltd., Daiichi Sankyo Company Ltd., Abbott Laboratories, GlaxoSmithKline plc, Novavax Inc., Astellas Pharma Inc., Johnson & Johnson (J&J), and AstraZeneca plc are the major companies impacting global Covid-19 vaccine market trends.