These issues include tackling the diseases that lack an effective vaccine and developing new technologies and approaches to address a future pandemic.
A new report from Frost & Sullivan highlights the platforms that can help companies overcome these challenges and make significant progress in vaccine development.
Tech Transfer is Accelerating Disruption
The COVID-19 pandemic undoubtedly led to a dramatic increase in investment and activity in the vaccine industry as companies raced to develop a vaccine to deal with the virus.
This also led to a shift toward tech transfer—the process of moving technology from one company or organization to another—and the entry of new, resourceful start-ups.
More emphasis is being placed on bringing innovation into the development, process and design of next-generation vaccines to maintain a stronghold on the market.
Other growth areas include controlled temperature chain (CTC) and heat-stable vaccines, which will be a major part of vaccine development programs between 2022 and 2025.
Factors Driving Disruption in the Vaccine Industry
Several factors are driving disruption in the vaccine industry, including the patient-centric approach seen during the pandemic to develop streamlined and resilient solutions.
Key industry players are engaged in sharing the next-generation vaccine platforms by leveraging the capabilities and long-standing expertise of innovation leaders, leading to a win-win situation to overcome the competitive barriers.
In addition, companies need to develop needle-free delivery and look at novel disease indications such as cytomegalovirus and glioblastoma, an aggressive type of cancer, for new growth avenues.
One of the major revenue boosts is the strategic procurement of vaccines by governments for their national immunization programs, which will inevitably lower vaccine prices and improve national health outcomes.
Key Growth Opportunities in the Vaccine Industry
There will be significant growth in the coming years as new technologies and approaches are being developed by mid-sized to large companies to address a variety of chronic diseases.
One area of promising research is the development of nucleic acid-based vaccines, which have shown great potential in the treatment of cancer and HIV.
Companies are also exploring new disease areas that have been untouched by vaccine development, including vaccines for asthma, Respiratory Syncytial Virus (RSV) Infection, and diabetes.
Utilizing platforms and models designed for COVID-19 vaccine development will help companies save time and resources as they make huge steps in developing vaccines for other disease areas.
Global Vaccine Market to Experience Significant Growth
The global vaccine market is anticipated to experience significant growth in the coming years as new technologies and approaches are developed to address a variety of diseases.
Companies can make significant progress in developing and producing new vaccines by utilizing the advanced platforms and models designed for COVID-19 vaccine development.
Finally, the transfer of technology to different regions will boost efficiencies and the capacity to deal with future pandemics as vaccine solutions are developed and distributed more quickly.
Frost & Sullivan provides an outlook for the global vaccine industry for 2022 and beyond, including emerging trends and growth opportunities, in a new study: https://bit.ly/3LKMOKc