COVID-19 vaccine: $11 billion global market opportunity for India, says report

Even as the developed nations vaccinated more than half of its population, there are export opportunities for COVID-19 vaccine in various African, Asian and South American countries.

India's pharmaceutical sector is looking at an opportunity to the tune of $10 to 11 billion in the form of COVID-19 vaccine supply, in both domestic and export markets in the next three years, rating agency Care Ratings has said in a report. However, the Indian vaccine makers are unlikely to get the premium pricing enjoyed by US-based multinational companies which is anywhere between $15 and 25 per dose and their average realization could remain anywhere between $3.25 and $3.50 per dose, it said. “On an aggregate level (i.e., domestic plus export), CARE Ratings expects supply opportunity of at least around USD 10-11 billion during the next three years for the Indian vaccine manufacturers,” the report said.