According to the MarkNtel Advisors’ research report, “Global COVID-19 Vaccine Market Analysis, 2021”, the market is projected to witness an astronomical growth during 2021-26. The factors attributing to the market growth are a significant rise in COVID-19 patients, increased government support to produce vaccines, and quick approval by the regulatory bodies in phase 1 & 2 clinical trial stages.
Furthermore, various schemes introduced by governments to make the vaccine available to people coupled with the hit of the second COVID-19 wave in the countries and a significant surge in the new vendors are the factors projected to impose a positive influence on the growth of the Global COVID-19 Vaccine Market in the forecast period.
Key questions answered in the study
Hospital Segment is Experiencing Robust Growth
Based on End-User, the Hospital segment is experiencing robust growth in the Global COVID-19 Vaccine market in 2020. The segment growth is accredited to the rising government investments in healthcare and various program launches to accelerate the vaccination drive in government hospitals.
However, overcrowding & appointment unavailability in government hospitals are the factors hampering the market growth. Thus, private hospitals are also participating in making vaccines easily accessible to individuals.
“Global COVID-19 Vaccine Market Analysis, 2021” offers comprehensive qualitative & quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for COVID-19 vaccine providers across the globe.
Moreover, the report also encompasses the key strategic imperatives for the competitors' success and strategic factorial indexing measuring competitor's capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
North America Acquired Significant Market Share
The US holds the highest market share in North America, which secured a significant percentage in the Global COVID-19 Vaccine market in 2020. The US is amongst the adversely hit nations with over 32 million coronavirus cases presently. Adhering to this, several pharma companies got extensive funding for the R&D of Covid-19 vaccines.
The burgeoning emergence of the mutant virus, surging government & private firms' investments to ramp up vaccine production, and increasing government initiatives to boost vaccination rates are the factors predicted to increase the demand for Covid-19 vaccines in coming years.
Furthermore, the strong presence of the giant market players, rising healthcare expenditure, and snowballing developments of nucleic acid vaccines are likely to contribute to the Global COVID-19 Vaccine market growth in the forecast period, reveals MarkNtel Advisors in their research report, "Global Metamaterial Market Analysis, 2021."
According to MarkNtel Advisors, the major leading players in the global COVID-19 Vaccine market are AstraZeneca Plc, Johnson & Johnson Inc, Novavax, BioNTech, Moderna, Glaxo Smith Kline Plc, CSL Ltd., Abbott Laboratories, Daiichi Sankyo Company Ltd, Astellas Pharma Inc., Pfizer, Bharat Biotech, Serum Institute of India, etc.