90% Effective Vaccine Shows Promise In The COVID-19 Vaccine And Therapeutics Pipeline
In news that everybody has been waiting for, Pfizer announced earlier this week that its vaccine against COVID-19 could have 90% efficacy. As per The Business Research Company, of the confirmed active vaccine candidates, nearly 70% are being developed by private/industry developers, with the remaining 30% of projects being led by the academic, public sector and other non-profit organizations. Most COVID-19 vaccine development activity is in North America, with around 36 (46%) developers of the confirmed active vaccine candidates. China constitutes 18% with 14 developers, while Asia (excluding China) and Europe also constitute 18% each with 14 developers in each region, respectively.
Pfizer and its German partner BioNTech are developing a coronavirus vaccine whose early results suggest that it could be an astonishing 90% effective, which is much higher than expected! While it is an optimistic claim at this incomplete stage, it offers hope to a situation that is in great need of it. Once the needed safety evidence is presented, the vaccine will be on track towards emergency-use approval from the US Food and Drug Administration for the preliminary supplies to be distributed in a controlled manner. Moderna is another US company that hopes to file an application for a coronavirus vaccine with the US FDA this month as well.
The global vaccines market is expected to decline from $56.7 billion in 2019 to $52.9 billion in 2020 at a rate of -6.8% due to the worldwide supply and demand failures of drugs due to the COVID-19 outbreak. Biologic drug shortages because of an inadequate production of biologics is hampering the market growth for general vaccines. The market is however expected to recover and grow at a rate of 14.2% from 2021 and reach $95.9 billion in 2023. Right now, the development of potential drugs and vaccines for COVID-19 specifically is progressing quickly. There is a massive increase in the COVID-19 drugs and vaccines pipeline owing to the urgent need to contain the spread of disease. Government agencies, global health authorities and institutes, and biopharmaceutical companies are focusing on remedies to treat the patients and control the infection spread. Increasing every day, 450+ potential therapeutic candidates are under investigation. While two-thirds of the pipeline account for therapeutic drugs, the remaining one-third accounts for vaccines. The COVID19 vaccine and therapeutics pipeline analysis market covered in this report is segmented by product type into small molecules, biologics, blood & plasma derivatives, monoclonal antibodies, vaccines, others. It is also segmented by the phase of development into preclinical therapeutics & vaccines, clinical studies, and by treatment mechanism & route of administration into mechanism of action and by route of administration, and by type of sponsor into pharma/biotech company, academic research/institution, others (such as Government Organizations and CROs).
Apart from Pfizer, other major players covered in the COVID19 Vaccine And Therapeutics Pipeline Analysis are CanSino Biologics, Moderna, Inovio Pharmaceuticals, Regeneron, Gilead Sciences, Altimmune, GlaxoSmithKline, Medicago Inc., Sanofi, University of Oxford, Novavax, Roche, Johnson and Johnson/Janssen Pharmaceutical, APEIRON Biologics, Cipla Limited, Takis Biotech/Applied DNA Sciences/Evvivax, Algernon, Zydus Cadila, Abbvie, Epivax, Dynavax, Abcellera, Takeda, Vaxart, University of Pittsburgh, Clover Biopharmaceuticals, Medicago, Others.
The market report provides an analysis of the coronavirus (COVID-19) therapeutics and vaccines under development and includes existing vaccines developed against MERS-CoV and SARS-CoV. Here’s to hoping the 90% rate of success continues!