(PharmaNewsWire.Com, March 09, 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.
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.
Besides the most promising Moderna program, several other big pharma companies are involved in COVID-19 vaccine work. Johnson & Johnson has pledged a manufacturing scale-up to 1 billion doses for its federally partnered program. Meanwhile, Sanofi has two partnerships underway—one with the federal government and another with Translate Bio.
According to the new market research report - 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 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.
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.
In February 2020, Janssen announced that it would work collaboratively with laboratories to screen antiviral therapies. Janssen already donated several doses of PREZCOBIX (for research use) to the Shanghai Public Health Clinical Center, Zhongnan Hospital of the Wuhan University, and the Chinese Center for Disease Control and Prevention. Big players in vaccines have also entered the race of launching vaccines 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.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
