Infographic | Key stats and facts about the vaccine market
By Katerina Mansour - 22 January 2021
The global vaccine market has been shaken up by the Covid-19 pandemic. As cases surged worldwide, pharmaceutical and biotech companies rushed to begin plans for a vaccine.
Organisations like Pfizer/BioNTech, Moderna, and AstraZeneca/Oxford University have managed to develop a vaccine within a year, instead of a decade. However, we’re not out of the woods just yet.
From scepticism to logistical nightmares
All this talk of vaccination raised several questions: how effective are vaccines? What are their side effects? How much do they cost? In this infographic, we look at some of the main challenges the world has been facing regarding vaccines.
These challenges include trust in a vaccine’s safety, willingness to be vaccinated, and the step-by-step process of deploying a vaccine. Indeed, for the latter, startups stand out as sources of support for large groups and governments in their efforts to launch mass-vaccination campaigns.
Perhaps the most worrisome challenge, however, is scepticism. Anti-vax sentiment has already been on the rise for years. Outbreaks of the measles in western countries such as the United States help illustrate this growing issue. This scepticism endures and is heightened today, largely due to how fast the currently available vaccines were created.
Only 40% of French citizens polled in December 2020 indicated they’d be willing to get vaccinated against Covid-19. In the UK, 25% of respondents indicated they wouldn’t get vaccinated because they don’t think the vaccine is safe. These sentiments are concerning to many, since our way out of this pandemic is strongly dependent on a successful global mass-vaccination campaign.
Startups provide innovative solutions
Distributing the Pfizer/BioNTech vaccine presents challenges due to its specific temperature requirements (-70C). This constraint incurred significant costs for countries planning to roll out this vaccine. Yet, temperature is just one of the many logistical challenges that come with deploying a vaccine. From monitoring demand, to packaging and storage, to distribution and delivery tracking, startups worldwide have been launching partnerships to provide innovative solutions and support. Examples include Merck’s partnership with Volansi to test the distribution of vaccines via drones.
Soaring investments and valuations
While Covid-19 has certainly led to large investments in vaccines worldwide, experts are uncertain as to whether this trend will last over time. Nevertheless, the numbers are impressive. BioNTech’s stock surged by 260% in under a year. The company’s value grew from $4.6 billion to $25 billion in under a year. In November, following their vaccine announcements, BioNTech and Pfizer’s stock jumped 14% and 7,7%, respectively. Overall, the global preventive vaccine market could be worth $70 billion by 2025.