CORONAVIRUS VACCINE MARKET ANALYSIS

Leading Companies

• Increasing number of R&D activities and clinical trials: Increasing number of research and development activities by the market players for improving the effectiveness of coronavirus vaccine to prevent against new variants of corona virus and omicron virus  is expected to drive growth of the market over the forecast period. For instance, on August 17, 2023, World Helath Organization (WHO) declared BA.2.86 and EG.5 which are variant of COVID-19 under circulating variants of interest (VOIs) and published risks associated with them as per data received from GISAID organization, the Global Initiative on Sharing All Influenza Data, 7354 sequences of EG.5 have been submitted EG.5 can spread globally, and contribute to increasing case incidence, and several countries with rising EG.5 prevalence witnessed increase in cases and hospitalizations.
• Increasing investment in research and development by government bodies: Increasing investment in research and development by government bodies is expected to boost demand for coronavirus vaccine, and thus, is expected to drive the global coronavirus vaccine market  growth. For instance, on March 31, 2022,  according to the article ‘U.S. public investment in development of mRNA covid-19 vaccines: retrospective cohort study’ published by National Instituite of Health (NIH), around 34 researchs were granted for funding by U.S. government grants association and the funding contracts totaled the cost of US$ 31.9bn.