DUBLIN, July 28, 2021 /PRNewswire/ -- The "COVID-19 Vaccine Development Tools Market Size, Share & Trends Analysis Report by Technology, by Application (Vaccine Process Development, Vaccine Research), by End Use (CROs, Pharma & Biopharma Companies), and Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global COVID-19 vaccine development tools market size is expected to reach USD 30.9 billion by 2028
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.
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
- Thermo Fisher Scientific, Inc.
- Cole-Parmer Instrument Company, Llc.
- Sartorius AG
- Stemcell Technologies Inc.
- AB Sciex Pte. Ltd.
- Illumina, Inc.
- Eurofins Scientific
- Agilent Technologies
- Bio-Rad Laboratories, Inc.
- Merck KGaA
- Qiagen N.V.
- Shimadzu Corporation
For more information about this report visit https://www.researchandmarkets.com/r/lk8vg5
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets