The current situation of the crisis created by COVID-19 pandemic has affected global economics to a large extent. The world is in a state of jeopardy calling for world leaders to work upon effective containment strategies. With restraints associated with manufacturing, production and supply, the revenue of different sectors has come down to a standstill. The on-going test and trials for viable COVID-19 drugs and vaccines are influencing the pharmaceutical industry is numerous ways.
"As the pharmaceutical industry faces the crisis of disruptions owing to factory closures in leading nations such as India and China, the government policy-makers and think tanks are collaborating with regional drug manufacturers to enhance their capacities. As the researches progress towards finding an effective vaccine for COVID-19, the world has started getting prepared for delivering herd immunity," says PMR analyst.
Technological Advancements to Boost Growth
PMR predicts the ongoing R&D activities for the COVID-19 vaccine to influence the vaccine market in a positive way. Any advancements in biomedical science is expected to offer growth opportunity for the players in the vaccine market. The advancements in technology achieved today can be used to deliver other vaccines such as h1n1.
The introduction of advanced technologies such as the recently developed vaccination patches is anticipated to propel the growth of the h1n1 vaccine market. The meetings held between world scientists and the World Health Organization are eye as a major advancement towards increasing the level of knowledge about viruses and methods to contain them. Innovations during such quests are expected to drive a new era of vaccination for other contagious diseases such as h1n1.
Surge in Vaccination Drives With Growing Awareness
Though this level of global morbidity was not observed in the case of h1n1, the probability of an outbreak remains high. The current crisis is set to raise the level of awareness amongst the health officials, which will directly influence the vaccination programs initiated by them. A surge in h1n1 vaccination drive will increase the demand for the h1n1 vaccine, thereby accelerating the production of this vaccine.
Intensified Competition Landscape
Several biotech companies have initiated efforts to develop COVID-19 vaccine. Major companies such as Pfizer Inc. and Johnson & Johnson are actively participating in the on-going COVID-19 vaccine development spree. Tobacco companies such as British American Tobacco and Phillip Morris have extended their participation in finding vaccines for COVID-19. The infrastructural developments done by these new players in the market are set to influence the h1n1 vaccine landscape. PMR predicts these new entrants to play an active role in the vaccination drives conducted during and after COVID-19 episode. Moreover, a surge in the collaborations and partnerships between different pharmaceutical companies and stakeholders hold the potential to develop a new and improved vaccine for h1n1.
Revenue to scale over time
Owing to the current period of house arrest and quarantine, the revenue generated from H1N1 is hard hit. However, with a rise in awareness the revenue in the market is expected to shoot up with time. The infrastructure development for mass immunizations for COVID-19 will boost the h1n1 vaccine delivery landscape in every aspect. With COVID-19, the vulnerability of the geriatric population to different diseases has come in the limelight. A high adoption rate of vaccines for COVID-19, h1n1 and other infectious diseases will be seen in the aging population, generating a robust revenue scope in the market.
PMR report on the h1n1 vaccine market further talks about the quantitative impact of COVID-19 on market revenue. The report will also describe the growth levers in the market along with major restraints.