Vaccine boosters highlight how markets exist over both geography and time. Over time, multiple boosters are a financial win for drug manufacturers. However, even without, if COVID-19 remains in our environment, young people aging in will constantly replenish demand.
Over geography, vaccines beautifully illustrate how competition enriches health care markets. The dizzying number of vaccines is inspiring- as of September 2021, 21 vaccines are being distributed globally in addition to 117 candidates in clinical trials!(1) But which are most effective and efficient? “Most” is a relative term! The world is diverse in its people and environments. The U.S.-approved vaccines are highly effective, but Moderna and Pfizer need deep refrigeration and two doses. This is impractical and expensive for developing countries. In rural areas, it’s hard to get a patient to a clinic even once, much less twice! We’ve seen this in HIV antiretrovirals, and it contributes to drug resistance. How to meet all these diverse needs? Competition! Vaccines such as AstraZeneca and the J&J shot may confer lower immunity but lose some of these shortcomings for developing markets. More competition, more vaccine types, greater variety of needs met.
For more on boosters, I chatted this month with Wake Forest News, Yahoo Finance, and others here.
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