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COVID-19 Vaccine Development Tools Industry Overview
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.
COVID-19 Vaccine Development Tools Market Segmentation
Grand View Research has segmented the global COVID-19 vaccine development tools market on the basis of technology, application, end use, and region:
Based on the Technology Insights, the market is segmented into Laboratory Technologies, Online Technologies.
- The laboratory technologies segment dominated the market and accounted for the largest revenue share of 95.3% in 2020.
- Widening usage of laboratory technologies, such as PCR, cell culture, flow cytometry, and spectrometry in the vaccine research and process is expected to contribute to the segment’s dominance through 2021-2028.
- PCR and qPCR display the highest revenue contribution to the laboratory technologies segment in 2020. Routine use of PCR tools in vaccine surveillance programs and efficacy testing is attributive to segment growth.
- Online technologies are set to grow at a rapid pace during the forecast period with a CAGR of 13.2%. Apart from the rise in demand for vaccine management and tracker tools, established companies are also working towards adopting interactive online platforms that assist in RD activities.
Based on the Application Insights, the market is segmented into Vaccine Research, Vaccine Process Development, Vaccine Quality Assurance/Quality Control.
- The vaccine research segment dominated the market and accounted for the largest revenue share of 43.9% 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.
- 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.
- Through this collaboration, scientists examined blood samples using different techniques such as proteomics, transcriptomics, metabolomics, and genetic techniques for evaluating the impact of infection and identification of potential biomarkers, predicting the risk of severe disease. These insights were crucial for vaccine designing against COVID-19.
Based on the End-use Insights, the market is segmented into Pharma Biopharma Companies, Contract Research Organization (CROs), Academic Research Institutes.
- The pharma and biopharma companies dominated the market and accounted for the largest revenue share of over 42.0% 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.
- 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.
- Research institutes are mainly focused on conducting research studies for finding novel solutions that can be implemented in vaccine development. They are developing several online tools and analyzing the data based on them for rapid vaccine development.
COVID-19 Vaccine Development Tools Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile Market Share Insights
Market players are focused on the expansion of their offerings through extensive RD and the formation of alliances and partnerships with other major players to sustain their market position.
Some prominent players in the global COVID-19 vaccine development tools market include
- Thermo Fisher Scientific, Inc.
- Celerion
- Cole-Parmer Instrument Company, LLC.
- Pfizer Inc.
- Sartorius AG
- STEMCELL Technologies Inc.
- AB Sciex Pte. Ltd.
- Illumina, Inc.
- Agilent Technologies
- Bio-Rad Laboratories, Inc.
- Danaher
- Merck KGaA
- Qiagen N.V.
- Shimadzu Corporation
- Eurofins Scientific
- Charles River Laboratories
- Takara Bio Inc.
- PerkinElmer Inc.
- Fluidigm
- OLYMPUS CORPORATION
- Avantor, Inc.
- Polyplus Transfection
- Hamilton Company
- Aurora Biomed Inc.
Order a free sample PDF of the COVID-19 Vaccine Development Tools Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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