COVID-19 vaccine market set to reach $19.5bn by 2026 – register for free webinar
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

COVID-19 vaccine market set to reach $19.5bn by 2026 – register for free webinar

23 Jul 2021

An upcoming webinar will focus on what will happen in the Covid-19 vaccine market across seven major markets and what that will mean for the market share of key players.

The size of the COVID-19 vaccine market across the seven major markets – the US, Germany, France, Italy, Spain, the UK, and Japan -will increase from $13.6bn in 2021 to $19.5bn in 2026 at a compound annual growth rate (CAGR) of 7.6% should annual vaccination be required, according to GlobalData. 

To find out more join us for a free webinar on 27.7.2021 at 4pm BST  

 COVID-19 vaccines based on mRNA technology dominate the 7MM in 2021 with a market share of 95.4% and $9.5bn in sales for Pfizer/BioNTech and $3.5bn for Moderna. 

GlobalData’s latest report, COVID-19 Vaccines: Global Drug Forecast and Market Analysis to 2026, models three different scenarios for the use of COVID-19 vaccines, since it is unclear how long protection from the current vaccines will last.  

In the first scenario, COVID-19 vaccines will be required annually, in the second scenario, annual vaccination will be assumed for the high-risk population of people 65 years of age and older, while everyone below 65 years of age will need a vaccine only every two years. In the third scenario, the high-risk population of people 65 years of age and older will receive a COVID-19 vaccine every two years, while everyone below 65 years will need a vaccine only every five years.  

In the latter two scenarios, market sales will fluctuate significantly over the forecast period to 2026, since most people in the 7MM (The US, Germany, France, Italy, Spain, the UK, and Japan) will receive a vaccine in 2021.   

The launch of a nanoparticle vaccine from Novavax and a recombinant protein vaccine from Sanofi and GlaxoSmithKline will decrease the market share of mRNA vaccines to 85% by 2026, but vaccines from Pfizer/BioNTech and Moderna will remain dominant.  

The market share of adenovirus vector-based vaccines from AstraZeneca and Johnson & Johnson is suspected to decrease due to their lower efficacy and lack of contract renewal in Europe. Barriers of growth will be low vaccination rates due to vaccine hesitancy and scepticism, which could be enhanced if more adverse events will be observed with COVID-19 vaccines.  

Key Opinion Leaders (KOL) interviewed by GlobalData for this report agreed that it will not be possible to know how long the protection from COVID-19 vaccines will last until the data comes in but emphasized that SARS-CoV-2 variants might make booster doses necessary. While some KOLs assume that protection will last for several years, others think that annual vaccination with COVID-19 vaccines will be necessary, like immunization against seasonal influenza. 

 

 

*7MM = The US, Germany, France, Italy, Spain, the UK, and Japan 

*5EU = Germany, France, Italy, Spain and the UK 

To find out more join us for a free webinar on 27.7.2021 at 4pm BST