Covid vaccine: India eyeing at USD 11 billion market opportunity

India’s Leading rating agency Care Ratings has said in a report that India’s pharmaceutical segment is looking at an opportunity to the tune of USD 10 to 11 billion in the form of COVID-19 vaccine supply, in both domestic and export markets in the next 3 years. However, the Indian vaccine makers are unlikely to get the premium pricing being enjoyed by US-based multinational companies which is anywhere between USD 15 and 25 per dose, their average realization could remain anywhere between USD 3.25 and USD 3.50 per dose, the rating agency said.

On domestic plus export level, CARE Ratings expects supply opportunity of at least around $10-11 billion during the next three years for the Indian vaccine manufacturers," the report said. According to CARE Ratings, the majority of domestic demand is expected to be fulfilled by March 2022, when the export opportunities in the high-income markets such as Europe, North America and developed Asian countries are likely to be completely exhausted. However, the export opportunities in various African, Asian excluding China and Japan and some South American countries, where the pace of vaccination remains very slow would still exist, which is expected to remain greater than 1.25 billion doses, it said.

As of August 10, 2021, over 4.35 billion Covid-19 vaccine shots have been administered globally. The USA, China and most of the European countries have vaccinated more than 50 percent of their total eligible population with at least one dose.

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