The global COVID-19 Vaccine Development Tools market size is expected to be worth around US$ 40.5 billion by 2030, according to a new report by Vision Research Reports.
The global COVID-19 Vaccine Development Tools market size was valued at US$ 20.01 billion in 2020 and is anticipated to grow at a CAGR of 10.6% during forecast period 2021 to 2030.
Get Sample Copy of This Report@ https://www.visionresearchreports.com/report/sample/38331
Growth Factors
This is attributed to the persisting devastation of SARS-CoV-2 across the globe. Additionally, second waves of SARS-CoV-2 infection were expected to coincide with the beginning of winter in the northern hemisphere, indicating the crucial period in the pandemic’s timeline.
Thus, the development of a viable immunization shot is imperative to mitigate the global impact of COVID-19. Acknowledging this need, entities engaged in the development of effective inoculation against COVID-19, are aiming at 4 potential key vaccine candidates, namely, mRNA, recombinant, inactivated, and replication-deficient viral vector. These 4 candidates are the key areas of focus, and the integration of and chromatography for candidate characterization is common across the development process of all the above candidates.
Report Highlights
The vaccine research segment dominated the market and accounted for the largest revenue share of 53.9% in 2020. The growth of the segment is driven by several factors such as rising government funding, extensive research by universities and healthcare organizations, and increasing business development strategies by prominent pharmaceutical companies, among others. Moreover, the growth in the segment can be further attributed to continuous research activities for improving the vaccine development process.
The researchers at Stanford University are working on the development of a single-dose vaccine for coronavirus that could potentially be stored at room temperature. This could possibly help in reducing the cost of storage and transportation associated with vaccines. Moreover, companies are increasingly engaged in business development strategies such as agreements, partnerships, and collaborations for COVID-19 target discoveries.
The pharma and biopharma companies dominated the market and accounted for the largest revenue share of over 52.0% in 2020. These companies were amongst the initial key players in conducting studies on SARS-CoV-2 in the early stages of the pandemic owing to their existing vaccine development infrastructure. For instance, in January 2020, the researchers at Merck Research Labs gathered a previously available understanding of coronavirus and proceeded with the identification of possible approaches for vaccines and therapeutics development with potential activity against SARS-CoV-2. The company examined around 1,000 compounds from its vast libraries for evaluating their activity against SARS-CoV-2.
The large share of the segment can be attributed to the robust investment capabilities of pharmaceutical companies for facilitating the rapid development of the COVID-19 vaccine. Large-scale pharmaceutical companies are collaborating with biotech companies for assisting them in scaling up the manufacturing process of the COVID-19 vaccine.
Asia Pacific dominated the COVID-19 vaccine development tools market and accounted for the largest revenue share of 49.6% in 2020. A major factor that contributed to the accelerated vaccine development for the SARS-CoV-2 was the early identification of the novel coronavirus’ genome by using advanced sequencing techniques in the region. The researchers in China conducted several studies directed at early genome sequencing, viral structure analysis, and immune response profiling with the application of next-generation sequencing, electron microscopy, and flow cytometry, respectively.
| Report Coverage | Details |
| Market Size | US$ 40.5 billion by 2030 |
| Growth Rate | CAGR of 10.6% From 2021 to 2030 |
| Base year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Technology, Application, End Use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Thermo Fisher Scientific, Inc.; Celerion; Cole-Parmer Instrument Company, LLC.; Pfizer Inc.; Sartorius AGSTEMCELL Technologies Inc.; AB Sciex Pte. Ltd.; Illumina, Inc.; AgilentTechnologies; Bio-Rad Laboratories, Inc.; Danaher; Merck KGaA; Qiagen N.V.Shimadzu Corporation; Eurofins Scientific; Charles River Laboratories; Takara Bio Inc.; PerkinElmer Inc. |
Key Players
Market Segmentation
Buy This Premium Research Report, click here@ https://www.visionresearchreports.com/report/cart/38331 or call: +1 9197 992 333
Vision Research Report, Recently Announced New Report on "Smart Lock market - Global Industry Analysis,…
Vision Research Report, Recently Announced New Report on "2D barcode reader market - Global Industry…
Vision Research Report, Recently Announced New Report on "commercial refrigeration equipment market - Global Industry…
Vision Research Report, Recently Announced New Report on "Restaurant Point-of-Sale Terminal market - Global Industry…
Vision Research Report, Recently Announced New Report on "vacuum cleaner market- Global Industry Analysis, Market…
Vision Research Report, Recently Announced New Report on "household refrigerators and freezers market - Global…