Tuesday
June 23
2020

Global COVID-19 Impact on Vaccines & Drugs Market Growth Is Mainly Attributed Due to Growing Number of People Infected With COVID-19 and Rising Funding for Vaccine Development – PMI

The global COVID-19 vaccines market accounted for US$ 2.6 billion in 2020 and is estimated to be US$ 1.5 billion by 2025 and is anticipated to register a CAGR of -10.4%

The global drugs market accounted for US$ 156.0 billion in 2020 and is estimated to be US$ 2.3 billion by 2025 and is anticipated to register a CAGR of -57.0%

Technological advancements in the pharmaceutical sector comprising the development of nucleic acid vaccines that are DNA- and RNA-based, and which allow the human body to produce vaccine antigen. Such initiatives and activities are expected to support market growth to a substantial extent.

Photo courtesy of Skeeze.

Source: GlobeNewswire (link opens in a new window)

Categories
Coronavirus, Technology
Tags
coronavirus, health care technology, pharmaceutical industry, vaccines