COVID-19 Vaccine Development Tools Industry Overview
The global COVID-19 vaccine development tools market size was valued at USD 16.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.6% from 2021 to 2028.
The market is expected to maintain its momentum in the coming future, attributive to the heavy influx of vaccine developers and manufacturers across the globe. Despite the speedy development and rollout of vaccines, the SARS-CoV-2 infection curve has just begun to plateau, particularly in the developed countries.
Additionally, variants of SARS-COV-2 have emerged in 2020 that demand re-testing of the immunization efficacy of first-generation vaccines, while current efforts are still being targeted towards finding the best manner of vaccine rollout that addresses the unprecedented vaccination programs implemented globally. Life sciences industries are focusing on developing long-term recovery for the SARS-COV-2 infection, which has propelled manufacturers such as, Thermo Fisher Scientific, Inc., Sartorius AG, Agilent Technologies, Hamilton Company, and Bio-Rad Laboratories, Inc. to expand their tools portfolio that is exclusively employed in COVID-19 vaccine development.
Gather more insights about the market drivers, restrains and growth of the Global COVID-19 Vaccine Development Tools Market
Several factors are contributing to the growth of this industry, including, the integral role of artificial intelligence in the COVID-19 vaccine race, expanding pool of collaborations to fast-track vaccine research and clinical trials, and robust funding initiatives by government and private organizations. The present scenario of fast-track vaccine research and clinical trials has encouraged collaborations amongst vaccine developers and industry participants.
For instance, in February 2021 BioNTech extended its partnership with Merck KGaA targeted towards addressing the required supply of tools and technologies for vaccine creation. This strategic move of extending the collaboration agreement with Merck is aimed at accelerating the development of the mRNA-based COVID-19 vaccine. Merck's life science business division is supporting with its tools to approximately 50 vaccine development programs worldwide.
Artificial intelligence (AI) has immense potential to facilitate and revolutionize the development of novel COVID-19 vaccines. AI is anticipated to become integral to the development of shots for emerging coronavirus variants, entities operating in this market space are partnering with vaccine developers, further flourishing the market. One such company, namely, Nanotronics stated in April 2021, that it has partnered with different key COVID-19 vaccine developers to assist in the effective management of data associated with COVID-19 vaccine development projects with its AI-based online tools.
Browse through Grand View Research's Pharmaceuticals Industry Research Reports.
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Market Share Insights
- October 2020: Sartorius AG expanded its presence in North America by opening a 40,000-square-foot Customer Interaction Center. The new site in Marlborough will provide optimized factory acceptance testing and is equipped with new bioprocess equipment.
- January 2021, the researchers at Stanford University are working on the development of a single-dose vaccine for coronavirus that could potentially be stored at room temperature. This could possibly help in reducing the cost of storage and transportation associated with vaccines.
- January 2021, Illumina, Inc. and Helix entered into a collaboration for building a national surveillance infrastructure in the U.S. for tracking the emergence and prevalence rate of novel strains of SARS-CoV-2.
Key Companies profiled:
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 SciexPte. 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.
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