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Explore the latest trends and actionable insights on the COVID Vaccine market to inform business strategy and pinpoint opportunities and risks

Omicron Triggers Global Spike in COVID-19 Cases

Industry: Infectious Disease
Current: Other Industry Indicators

COVID-19 infections in the US have passed 57 million
The global COVID-19 death toll has passed 5.4 million
Infections surpassed 295 million worldwide as case numbers surge

Omicron Triggers Global Spike in COVID-19 Cases

Omicron Cases Reported Surge Worldwide Post-Emergence in 2021

The B.1.1.529 variant of a novel coronavirus, known as Omicron, first reported in South Africa, was designated as a variant of concern by WHO in late November 2021. The variant has some 30 or more spike protein changes that give the virus its crown-like appearance.

The new strain is highly transmissible and has become the dominant variant in weeks, with 108 countries reporting 150 million active cases. In the last week alone, COVID-19 cases global increased by 72%, with a 100% increase in the Americas. According to GlobalData epidemiologists, new daily confirmed cases in South Africa peaked at around 109,721 on December 14, the highest number of single-day reported cases in the pandemic thus far. However, genomic sequencing studies are mandated to conclusively determine whether Omicron drives the recent surge. Additional research is also required to address questions surrounding the transmissibility and severity of the new variant.

Calls to Expand Vaccination Coverage Globally

The current vaccines have an efficacy of up to 97.5% against the previous variant, Delta, after two doses, and 40-70% efficacy against the Omicron variant. Despite lower efficacy, these vaccines help patients by lessening the severity of the disease. Preliminary data from ongoing clinical trials demonstrate that a third booster dose would be effective against the new variant. According to media reports, this resulted in almost 36 countries inoculating their citizens with a booster dose, with seven countries making it mandatory for travel purposes.

While calls for mobilizing investments have increased, countries managed to incentivize vaccine manufacturing and production. Vaccine manufacturers estimated that 12 billion COVID-19 vaccines will be manufactured by early 2022, which is more than enough to vaccinate everyone. However, the current vaccination rate of 56%, below 60-70%, is the required rate to reach some level of herd immunity.

As the coronavirus undergoes continuous mutations, new variants will emerge. Higher vaccination coverage will not only reduce the spread of the coronavirus but help prevent the emergence of new variants. The need of the hour is to pursue equitable vaccine coverage in an expedited manner despite financial constraints and declining health concerns, as it is one of the most effective tools against COVID-19 and combating the cyclical emergence of new variants of concern.

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