Coronaviruses belongs to a group of virus family that causes illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV). It causes infections to mammals as well as birds. However, a novel coronavirus (nCoV) is a new strain that has not been previously identified in humans. Common symptoms associated with coronaviruses infections are from common cold to serious infections and severe respiratory complications, pneumonia, and even kidney failure and death.
Coronaviruses vaccines can treat patients with infection of coronaviruses by inactivating these viruses. Currently, there are no drugs or vaccines approved for treating infected individuals; however, there are several vaccines and drugs in pipeline, and are yet to be approved or launched.
Coronavirus Vaccine Market: Key Players
The research study includes profiles of leading companies operating in the global coronavirus vaccine market. Key players profiled in the report include: Moderna Therapeutics, BioCryst Pharmaceuticals, Inc., AbbVie Inc., Gilead Sciences, Johnson & Johnson, Regeneron Pharmaceuticals, Sanofi, Inovio Pharmaceuticals, Inc., Novavax, Inc. and Others.
Industrial Dynamics for the Global Coronavirus Vaccine Market:
Infection to humans by coronaviruses was first seen in Wuhan City, China. However, this infection has been rapidly spreading across the globe, including North America, Europe, Middle East and Asia. The infection is lethal and proper medication is necessary to treat this infection. The time from development of symptoms of COVID-19 and death has been shown to range between 6 and 41 days, with a median of 14 days. This has prompted an outbreak of activity in a proposal to develop a vaccine. Thus, demand for drugs and other related products is rising exponentially which is boosting the market of coronaviruses vaccines.
Government initiatives on research and development of coronaviruses vaccination is further driving the market of Coronaviruses Vaccines. Factors such as rising population, growing GDP, increasing awareness of coronaviruses, and rising spending on healthcare will create lucrative opportunities for coronaviruses vaccine market in near future. However, high cost involved in research and development of therapeutic drugs and vaccines, and time required for each phase of clinical trials can majorly hamper market growth to some extent.
Region Wise, Global Coronavirus Vaccine Market Analysis:
North America is projected to held highest revenue share in the global coronavirus vaccine market, followed by Europe with second-highest revenue share. This can be attributable because of the presence of major players in countries of this region, increasing investments in R&D activities, along with strong support from the government. Revenue from the Asia Pacific market is projected to expand at a significantly highest CAGR owing to the ongoing outbreak 2020 in Wuhan city of China.
Global Coronavirus Vaccine Market: Product Type analysis
- Inactivated coronavirus vaccine
- Live attenuated coronavirus vaccine
- S-Protein based coronavirus vaccine
- Research Institutes
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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