The global COVID-19 Vaccine Development Tools Market size is expected to reach USD 30.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.6% from 2021 to 2028. Research professionals across the globe, are rapidly persuading the identification and development of viable candidates to develop COVID-19 immunization shots. 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 mass spectrometry and
chromatography for candidate characterization is common across the development
process of all the above candidates.
The spike protein (S-protein) is the most preferred
target site with respect to the COVID-19 vaccine target discovery.
This is attributed to the fact that the S-proteins are spread throughout the
surface of the COVID-19 molecule, which enables attachment to host cell
receptors, in turn ensuring easy entry of the virus into the host cell. Active
government initiatives aimed at enabling the fast-track development of COVID-19
boosters are expected to create a favorable environment for entities operating
in the industry.
For instance, in April 2020, the Access to COVID-19
Tools (ACT) Accelerator was launched aimed at speeding up the delivery and
development of COVID-19 boosters. This initiative is inclusive of a health
systems connector that supports the delivery of required resources to countries.
The tools are also pooled under the umbrella mechanism, namely, the COVAX
Facility to ensure effective procurement as well as equitable access to,
COVID-19 vaccination and development tools. The ACT Accelerator targets to
deliver around 2 billion doses by the end of 2021, across the globe.
Related Press Release @ COVID-19 Vaccine Development Tools Market Report
COVID-19 Vaccine Development
Tools Market Report Highlights
- Laboratory technologies have generated the highest revenue in 2020
and this segment is anticipated to maintain its dominance throughout the
forecast period
- Significant growth in the adoption of pre-existing laboratory
technologies such as PCR, 3D and 2D cell culture products, and flow
cytometry is attributive to the segment’s dominance
- The PCR and qPCR segment dominated the market in terms of revenue
share in 2020
- The WHO recommends the implementation of rRT-PCR in surveillance of
participants for effective COVID-19 vaccine evaluation, which has
supplemented a significant surge in the uptake of PCR products
- Detecting new mutations in SARS-CoV-2 enables research
professionals to reconstruct unknown infection routes along with
establishing a molecular basis for COVID-19 vaccine design
- This has widely promoted the usage of NGS particularly across
molecular typing and genomic epidemiology applications, making it the
fastest-growing segment throughout the forecast period
- Interactive web tools have emerged as dominant online technologies
employed in COVID-19 vaccine development and research
- Online interactive web tools have gained sufficient traction
amongst the researchers and vaccine developers as these entail interactive
graphs, maps, and dashboards that assist in effective monitoring of vaccine
development while avoiding any misinformation
- Vaccine research has witnessed the highest penetration of COVID-19
vaccine development tools, leading to the segment’s largest share in 2020
- Large-scale adoption of tools associated with nucleic acid isolation
and purification, real-time PCR, Sanger sequencing, mass spectrometry, and
NGS among others has contributed to the segment’s dominance
- The contract research organization (CROs) end-use segment is
expected to grow at a fast pace through 2021 - 2028. Partnerships with
CROs are proving integral as they ensure access to a vast number of
resources along with expanded expertise
- North America dominated the market and accounted for the largest
revenue share in 2020; U.S. ranked 1st in this region, in
terms of revenue
- More than 20% of the vaccines being developed across the globe hail
from the U.S., thus, providing immense lucrative opportunities for the
market players operational in the country
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Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
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relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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