The COVID-19 pandemic has created a trillion-dollar vaccine market, providing an opportunity to reopen economies and begin a transition to the new normal.
Like the rest of the world, the big pharma must face the new normal after the pandemic.
The statistics below describe the size of the total global human vaccines market 2014 to 2024. The market value is expected to generate up to US$62 billion by 2024. That number will double in size by 2026.
Table 1: Total global vaccine market size 2014 to 2024
Statistics show the size of the total global vaccine market in 2017 and forecast for 2028. In 2017, the total global market was valued at around 33.6 billion USD. It is estimated that the market will grow to nearly US$104 billion by 2028.
Table 2: Total global vaccine market in 2017 and forecast for 2028
In 2021, the COVID-19 vaccine Comirnaty produced by Biontech and Pfizer is expected to reach $26 billion in worldwide sales, while Moderna's mRNA-1273 vaccine is expected to reach $19 billion. The statistics below illustrate forecast sales of some of the major COVID-19 vaccines worldwide in 2021 and 2022.
As of December 9, 2021, there are more than 1,380 drugs and vaccines in development targeting the coronavirus disease (COVID-19). US companies ImmunoPrecise Antibodies and Pfizer, and UK-based GlaxoSmithKline are ranked second among companies worldwide, each with 10 drugs/vaccines in development targeting COVID- 19.
Table 3: Leading companies in terms of number of COVID-19 drugs and vaccines in development as of December 9, 2021
