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COVID-19 Products Had Strong 2021, But Omicron Casts Shadow Over 2022

Windfall From Drugs, Vaccines Sparks Talk Of Merger Mania

 
• By Alaric DeArment

Evidence that the new variant dulls drugs and vaccines’ efficacy creates uncertainty for 2022, but new products are in the wings.

COVID globe
How the drug and vaccine market developed in 2021, and how Omicron hangs over 2022 • Source: Shutterstock

If 2020 was a year of hell in terms of the scale of destruction that COVID-19 wrought, 2021 – at least initially – was a year of hope, with the rollout of vaccines against SARS-CoV-2 as well as a plethora of new drugs. But 2021 closed with renewed trepidation as the Omicron variant emerged like the cliffhanger ending of the season finale of a TV series, and its rapid rise to dominance has meant a cautious start to the 2022 season.

The whiplash-like manner in which the market for COVID-19 drugs played out in 2021 provides something of a case study for how

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