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(Health-NewsWire.Net, June 25, 2021 ) The Global COVID-19 Impact on Vaccines and Drugs Market study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the key players, competitive landscape, key market dynamics, and key player strategies.
The Global COVID-19 Vaccines Market is projected to reach USD 1,401 million by 2025 from USD 2,273 million in 2022, at a CAGR of -14.9% during the forecast period. The growth of the COVID vaccines market is attributed majorly to the rising number of people infected with COVID-19 and increasing funding for vaccine development.
The Global COVID-19 Drugs Market is projected to reach USD 2 million by 2025 from USD 165 million in 2020, at a CAGR of -57.8% during the forecast period.
The growth of the COVID drugs market is primarily attributed to use of repurposed drugs for compassionate use, and the emergence of alternative therapies such as convalescent plasma therapy which were earlier used for treating epidemic diseases such as SARS, MERS, and H1N1. Moreover, collaborations between global organizations and governments of various nations to promote the supply of essential drugs and medical supplies are fueling the market growth.
Currently, the R&D landscape for COVID-19 vaccines includes 115 vaccine candidates. The most advanced candidates that have recently moved into clinical development are:
- mRNA-1273 from Moderna
- Ad5-nCoV from CanSino Biologics
- INO-4800 from Inovio
- LV-SMENP-DC and pathogen-specific aAPC from Shenzhen Geno-Immune Medical Institute
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Drugs targeting COVID-19 are falling majorly in the category of repurposed drugs that have already entered phase 2 of clinical development.
As the COVID-19 pandemic progresses, pharmaceutical and biotechnology companies are increasing their efforts to find a cure for the disease. In just a few weeks, scientists have found a list of molecules that target COVID-19. Currently, around 155 molecules are under clinical investigation, and approximately 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.
On March 24, 2020, the WHO announced that it had initiated a global mega trial of the four most promising drugs 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.
Some of the major 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), and Janssen Pharmaceuticals, Inc. (Belgium) among others.
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