As the Virus Continues, the Global COVID-19 Vaccine Market Expected to Reach $25 Billion By 2024

PALM BEACH,  Fla., Sept. 23, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The growth in the COVID-19 vaccine market is projected to continue to surge through 2024. This growth is attributable to drastic surge in coronavirus cases across the world, in consort with combined efforts by regional governments and international organizations to support vaccine development as well as setup more of vaccination facilities. The growing government support for vaccine development and the increasing involvement of global organizations in the development of adequate vaccination facilities in endemic regions is anticipated to positively influence the sales of coronavirus vaccine in the upcoming years. Moreover, the strong demand for coronavirus vaccine, the ongoing initiative initiatives by governments to procure the vaccine and the waves of infection are likely to drive the market growth during the forecast period. According to a report from Market Study Report said that Global COVID-19 vaccine Market will be valued at approximately USD 25 billion in the year 2024, while growing rapidly throughout. The report said: "Under the Patient Type segment, COVID-19 market for senior citizens is anticipated to witness the largest market share owing to the focus of the governments to vaccinate the vulnerable population, manufacturing of vaccines being outsourced and also manufacturers collaborating with hospitals and doctors to better understand their demand and meet their requirements will be pushing growth in the market for Covid-19 vaccine during the coming years.  Active biotech companies in the market this week include BioVaxys Technology Corp. (OTCQB: BVAXF) (CSE: BIOV), Dynavax Technologies Corporation (NASDAQ: DVAX), INOVIO (NASDAQ: INO), Novavax, Inc. (NASDAQ: NVAX), Vaxart, Inc. (NASDAQ: VXRT).

Market Study Report continued: "Hospitals, followed by Clinics, Vaccination centers and Academic and research Institute will attain substantial market share as healthcare authorities and governments are trying their best to vaccinate the population to further avoid spread of coronavirus disease.  According to industry experts, North America is anticipated to lead global COVID-19 vaccine market forecast over the study period, with Europe and Asia Pacific following the conduct. Coronavirus cases are at surge with second and third wave as well as due to virus mutation. Efforts by global manufacturers to ramp up vaccine production will sway the business dynamics forward."