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(Health-NewsWire.Net, April 22, 2021 ) The report "COVID-19 Impact on Vaccines and Drugs Market - Global Forecast to 2025" the COVID-19 impact on the global vaccines market size is estimated at USD 2,273 million in 2022 and projected to reach USD 1,401 million by 2025, resulting in a CAGR of -14.9%.
On the other hand, the COVID-19 impact on the global drugs market size is anticipated at 165 million in 2020 and estimated to reach USD 2 million by 2025, at a CAGR of -57.8%.
Vaccine manufacturing ramp-up to drive the growth further;
While global drug makers are pouring massive resources into developing targeted therapies and vaccines, contract development and manufacturing organizations (CDMOs) are finding ways to ramp up the production of vaccines. In line with this, a new CDMO from Belgium's Univercells is offering its expertise to help drug makers scale up their manufacturing.
Pfizer and BioNTech have initiated plans for clinical trials and producing millions of doses, if the trials succeed. The companies expect to have millions of doses of a COVID-19 vaccine ready to go by year-end if the companies begin human testing as planned by late April. Pfizer and BioNTech are hoping to advance multiple mRNA vaccine candidates.
Currently, around 155 molecules are under clinical investigation, and about 45 molecules are under preclinical development to be targeted against COVID-19. In this list, four promising drugs have been repurposed for use against COVID-19.
- Remdesivir
- Chloroquine and hydroxychloroquine
- Lopinavir and ritonavir (and that same combination plus interferon-beta)
- An immune system messenger that can help stop the multiplication of viruses.
Researchers and physicians in several countries are focusing on various other existing drugs to examine their potential to treat COVID-19. Chinese authorities, which have been dealing with the virus longer, are recommending Arbidol (umifenovir), which has not been approved in Western countries, as well as old antivirals ribavirin and interferon-alpha. Similarly, Avigan (favipiravir) by Fujifilm has shown promise in the treatment of COVID-19.
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Funding from global governments and foundations is promoting the growth of the market;
Incentives are needed to engage manufacturers for the large-scale capacity to guarantee sufficient production of SARS-CoV-2 vaccines. In line with this, various global organizations have come forward to expedite the process, such as Gavi, CEPI, and WHO. However, considering the pandemic scenario of COVID-19, much stronger initiatives are required.
In April 2020, the Bill and Melinda Gates Foundation announced plans to help fund factories for seven promising vaccines, even before seeing conclusive data. The foundation aims to help scale up manufacturing during testing, rather than after the vaccines have passed the trials.
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Geographical View in-detailed:
North America is expected to account for the largest share of the COVID drugs market in 2020. The large share of North America is attributed to the increasing prevalence of COVID-19, rising demand for repurposed drugs, collaborations among manufacturers and academics, and the implementation of favorable initiatives by the government in the US and Canada. The North American market is also expected to grow at the highest rate during the forecast period.
Leading Key Market Players;
Key players in the COVID-19 vaccines market include Pfizer Inc. (US), Johnson & Johnson Services, Inc (US), GlaxoSmithKline plc. (UK), Sanofi (France) Serum Institute of India (India), among others. Major players in the COVID-19 drugs market include Gilead Sciences, Inc. (US), Sanofi (France), F. Hoffmann-La Roche Ltd (Switzerland), Merck KGaA (Germany), Janssen Pharmaceuticals, Inc. (Belgium) among others.
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