United States Coronavirus Vaccine Market to Grow at a Significant Rate through 2026
Growing number of corona patients and rising awareness about corona is expected to drive the demand for United States coronavirus vaccine market for the forecast period.
According to TechSci Research report, “United States Coronavirus Vaccine Market By Type (mRNA Based v/s Vector Based) By Required Number of Doses (Two v/s One) By Patient Type (Adult v/s Pediatric) By End User (Hospitals, Clinics, Research Institutes, Others) By Company, By Region, Forecast & Opportunities, 2026”, the United States coronavirus vaccine market is expected to witness significant growth for the next five years. Coronavirus disease is caused by newly discovered coronavirus that is SARS-CoV-2 which had spread all around the world at an exponential rate and declared as a pandemic by World Health Organization. When the virus enters the human body such as COVID-19 virus, they attack the body and get multiplied, this process of invasion into the body is called illness. Immune system uses every method possible to fight the coronavirus.
The coronavirus pandemic had taken a huge hit on the developed healthcare infrastructure of United States as number of patients requires medical attention increased day by day and generated the need for more ventilators, oxygen concentrators, cryogenic tankers, pulse oximeter, among other medical devices. Government of United States of America have taken appropriate precautionary measures and announced complete lockdown to avoid the spread of coronavirus to large number of people which lead to adversely impact the economic and social conditions of the country. Leading authorities have taken strong measure to contain the spread of disease by providing better diagnostics and treatment in healthcare facilities. Coronavirus vaccine is an efficient way to increase the immunity of people and provide resistance to the coronavirus.
To fight the pandemic, coronavirus vaccines manufacturing process took place at a rapid pace as these vaccinations provide immunity to the human body by training the immune system to recognize the pathogen when it enters the human body naturally and take necessary steps by reducing the risk of spread into the body. The spread of coronavirus is taking place at different intervals such as first wave, second wave, and others. For providing its citizens the safety and reduce the death rate happening everyday in the region, the need for coronavirus vaccines is on rise.
Increase in healthcare expenditure due to the rising cases of coronavirus pandemic to increase the capacity of healthcare systems to accommodate more people to provide effective treatment. Growing need for advanced ICU facilities and develop public healthcare infrastructure to develop preventive measures for fighting the coronavirus pandemic. Surge in research and development activities for developing effective vaccines at large scale is fueling the growth of the market for the forecast period.
However, high costs for research and development of coronavirus vaccine and the requirement of large amount of time to conduct successful clinical trials may hamper the growth of the coronavirus vaccine market.
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United States coronavirus vaccine market is segmented into type, required number of does, patient type, end user, regional distribution, and company. Based on patient type, coronavirus vaccine market is further bifurcated into adult and paediatric. The adult segment is expected to dominate the market for the forecast period, 20222-2026. Vaccine manufacturing companies launched vaccines majorly covering the adult segment age group and many clinical trials are on run to test the effectiveness of vaccine on children. Adults are more aware about being healthy and the benefits associated with getting vaccinated.
Based on end user, market is fragmented into hospitals, clinics, research institutes and others. The hospital segment is expected to account for major market share for the next five years due to rising number of people getting infected by coronavirus every day and the surge in number of people dying due to the spread of novel coronavirus. Increase in healthcare expenditure and the shield coronavirus vaccines provide form deadly diseases is fueling the demand for vaccines market. Also, the government supportive policies and increasing hospital admissions rates is fostering the demand for coronavirus vaccines.
Pfizer Inc., Moderna Inc., Johnson & Johnson, BioNTech SE, Novavax, Inc. are the leading players operating in United States coronavirus vaccine market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several coronavirus vaccine manufacturers are coming up with their technologically advanced offerings.
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“Rising healthcare investments by leading authorities to protect its citizens from the novel coronavirus along with surge in awareness about the benefits associated with vaccination is a major driver for the growth of the coronavirus vaccine market. Government initiatives to increase the production of coronavirus vaccine and launch of plans to deliver vaccines directly to pharmacy stores and drug stores is expected to boost the coronavirus vaccine market until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Coronavirus Vaccine Market By Type (mRNA Based v/s Vector Based) By Required Number of Doses (Two v/s One) By Patient Type (Adult v/s Pediatric) By End User (Hospitals, Clinics, Research Institutes, Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of United States coronavirus vaccine market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of United States coronavirus vaccine market.
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