German Serums and Vaccines Industry
After reviewing each industry on the website, the serums and vaccines industry stood out to me the most. Germany has a well-established healthcare system with a high level of public investment in infrastructure and has been at the forefront of vaccine development. Companies such as BioNTech and CureVac have overcome the instability of the mRNA molecule and gained global recognition for their pioneering work in mRNA vaccine technology. This innovative technology demonstrates the broader therapeutic applications by optimally assembling the pieces of the mRNA puzzle for use in the fight against COVID-19, cancer, and infectious diseases in Africa, illustrating its historical significance and potential for future medical advancements.
According to the German Mission in the United States, Germany is well on its way to achieving the target of spending 3.5% of its GDP on research and innovation by 2025. By 2021, the exports of the serums and vaccines industry accounted for 2.42% of its total exports, which became particularly prominent following the outbreak of COVID-19. The COVID-19 vaccine from BioNTech alone is estimated to boost Germany’s GDP growth by up to 0.5 percentage points in a single year. Therefore, the German government has recognized the importance of this sector, investing significantly in vaccine development to accelerate research and ensure greater independence in vaccine production. A total of 750 million euros is available in 2020 and 2021 to support the vaccine development work of three German companies — BioNTech, CureVac, and IDT (Germany — Country of Innovation). Revenue from the serums and vaccines industry Revenue is expected to result in a market volume of US$150.80 million by 2028 (Statista, 2024).
The vision of the German government is to promote overall prosperity and deliver on the United Nations Sustainable Development Goals. The strategic development in the serums and vaccines industry enhanced Germany’s global standing in biotech and pharmaceutical innovation and highlighted the importance of readiness for future health crises.
