Significant COVID-19 Impact on Vaccine | Healthcare Industry | Data Bridge Marke

Posted by swarajya on April 8th, 2021

COVID-19 Impact on Vaccine in Healthcare Industry

OVERVIEW

The COVID-19 has posed a complex challenge in front of different biotech companies, which has badly impacted the worldwide market. However, it has boosted the growth of companies involved in vaccine development, as there is great need of vaccine which can act against coronavirus and prevent this deadly disease.

Along with COVID-19 vaccines, there are various kinds of vaccines which are administered to people of different age groups in order to prevent them from different kinds of infectious diseases. These vaccines manufacturing process and administration process has been affected due to limited access to healthcare facilities and fear of getting COVID-19 infections.

For instance,                                                                              

• In July 2020, around 80 million children who are under the age of one year have been reported to face some kind of disturbance mainly because of limited healthcare facilities access and threat of getting COVID-19 infections.
• In July 2020, WHO and UNICEF warned against the rapid decline in the number of children who have received life-saving vaccines and had stated that all this has happened due to disruptions in uptake and delivery of immunization services as a result of COVID-19 pandemic.

COVID-19 disease is a major threat to people who already have existing medical complications such as diabetes, pneumonia, and tuberculosis among others. This thus enhances the people attention towards preventing themselves from such infectious disease so that the chances of getting COVID-19 infection reduce.

As the prevalence of infectious disease is increasing worldwide, it has become important to provide patients with proper vaccination during the prevailing pandemic of COVID-19, this is the reason why biotech companies and government are taking several steps in order to deal with cumbersome conditions.

PRICE IMPACT:

As no treatment has been discovered yet for coronavirus, the fear of getting infection led the people to remain safe at their home, as a result of which various businesses around the world are suffering a lot involving biotech companies among others.

Various companies are working on vaccine development process, on other hand, several companies have signed deals with government of other countries in order to reserve their vaccine distribution, so as to earn benefit.

The cost of COVID-19 vaccines is likely to decrease due to high concern towards remaining prevented from deadly infectious diseases even during such a pandemic.

For instance,

• As per the news of 2020, Moderna Inc., a company recently working on mRNA-1273 vaccine which will act against the deadly coronavirus, stated that it will provide its vaccine at a cost of USD 32.00 to USD 37.00 to public.
• According to the news of August, 2020, Pfizer Inc. has signed an agreement with government to provide 100 million doses of coronavirus vaccine at a cost of USD 1.95 billion. This agreement will allow government to access coronavirus vaccine at a cost of USD 20.00 per dose.

Moreover, increasing prevalence of COVID-19 all around the world is also responsible for increasing the demand of COVID-19 vaccines at low cost. Read in detail…