Vaccination and advanced treatment are crucial in the fight against COVID-19. So, countries worldwide are taking steps to enhance vaccination rates and improve treatment. Therefore, we expect Moderna (NASDAQ:MRNA), Gilead Sciences (NASDAQ:GILD), BioNTech SE (NASDAQ:BNTX), and Regeneron Pharmaceuticals (NASDAQ:REGN) to grow substantially over the long term. Let’s discuss.With a strong propensity for mutation and vaccine resistance, coronavirus has remained one of the biggest threats to the global economy since last year. The highly transmissible Delta variant has resulted in reduced vaccine efficacy, highlighting the need for “booster shots.” Chief Medical Advisor to President Biden, Dr. Anthony Fauci, recently observed that the United States could emerge from the pandemic by spring 2022, extending his earlier projection that the country could control the virus outbreak by summer this year.
Last week, the FDA gave its full approval to the Pfizer-BioNTech vaccine, paving the way for greater vaccine mandates as schools, universities, and businesses gradually reopen. The U.S. is now gearing up to r distribute COVID-19 booster shots nationwide beginning in September.
The global COVID-19 vaccine market is expected to reach $73.78 billion by 2028, growing at a 7.3% CAGR. Thus, fundamentally sound companies Moderna, Inc. (MRNA), Gilead Sciences, Inc. (GILD), BioNTech SE (BNTX), and Regeneron Pharmaceuticals, Inc. (REGN), which have COVID-19 related products in their portfolios, are expected to generate solid growth.