Northrook, IL -- (SBWire) -- 05/14/2020 --MarketsandMarkets™ recently launched the report, "COVID-19 Impact on Vaccines & Drugs Market - Global Forecast to 2025". The study states that 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%.
The growth of the COVID vaccines market is attributed majorly to the increasing number of people infected with coronavirus and growing funding for vaccine development. The growth of the COVID drugs market is primarily attributed to use of repurposed drugs for compassionate use, the emergence of alternate therapies, such as convalescent plasma therapy which were earlier used for treating epidemic diseases such as SARS, MERS, and H1N1, collaborations between global organizations and governments of various nations to promote the supply of essential drugs and medical supplies.
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With the first vaccine for COVID-19 expected to enter the market in the next 12 – 18 months, North American manufacturers have the largest number of potential vaccine candidates in the pipeline.
As of April 8, 2020, the R&D landscape for COVID-19 vaccines includes 115 vaccine candidates, of which 78 are confirmed as active, and 37 are unconfirmed (development status cannot be determined from publicly available or proprietary information sources). Of the 78 confirmed active projects, 73 are currently in the exploratory or preclinical stages. 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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Other prominent players in the vaccines market have also entered the race of launching inoculations targeting COVID-19, such as GSK and Sanofi. Sanofi and GSK are coming together to work on a COVID-19 vaccine, which, if it passes clinical trials, will become available in the next 12- 18 months timeline.
Developers of active COVID-19 vaccine candidates are distributed across 19 countries, which collectively account for over three-quarters of the global population. Of these, North American manufacturers are leading with the most number of potential vaccines in the pipeline.
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.
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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.
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.
COVID-19 Impact on Vaccines & Drugs Market - Exclusive Report by MarketsandMarkets™
North America dominates the COVID-19 drugs market