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PUNE, India, April 27, 2021 /PRNewswire/ ReportnReports provides a comprehensive overview of the size of the SARS-CoV-2 COVID Vaccine market, segmentation of the industry (by geography and vaccine technology), key players and the vast potential of vaccines that are in clinical trials. Kelly Scientific analysis indicates that the global COVID vaccine market was worth $59 billion in 2021. However, our forecast indicates that an initial drop in 2022 will occur due to a number of factors including single booster shots as opposed to two shot vaccines and reduced prices in vaccines due to competition.
The COVID vaccine industry is expected to then grow significantly at a CAGR of over 9% and reach $47.5 billion by 2026. This is due to an opening up of the market from a closed government dominated space to one in which private healthcare providers and companies can purchase vaccines. There will also be a continued significant un-met need for vaccine