NEW YORK: As hospitalizations from the “Eris” variant, a subtype of the Omicron form of the coronavirus, surge across the United States, a new Covid vaccine is set to be released next month.
However, health experts and analysts are predicting that the reception of the new vaccine may be lukewarm, given the decline in demand for Covid vaccines since their initial availability in 2021.
The upcoming vaccine is expected to target the Omicron variant of the virus, which has been dominant since last year. Healthcare providers and pharmacies, including CVS Health, are preparing to offer the updated shot in an effort to combat the evolving virus.
Despite the potential benefits of the new vaccine, declining concern about the virus, fatigue, and skepticism about the need for additional shots have led to decreased demand. In 2022, fewer than 50 million people received Covid shots, a sharp drop from the more than 240 million people who had been vaccinated in the US by 2021.
Covid Risk and Annual Vaccination
Experts believe that public health officials will need to emphasize the ongoing risk posed by Covid and its variants to encourage Americans to consider annual vaccinations. The challenge lies in persuading those who believe they have sufficient protection from previous shots or infections.
Pfizer and Moderna, two major Covid vaccine manufacturers, have adjusted their expectations for this year’s vaccination campaign. Pfizer, which holds the largest share of mRNA shots in partnership with BioNTech, recently indicated potential job cuts if performance does not meet expectations. Moderna, its main competitor, suggested demand for shots could be as low as 50 million.
Last year, Pfizer and Moderna collectively generated over $56 billion in Covid vaccine sales worldwide, with analysts projecting approximately $20 billion for this year.
As the post-pandemic vaccine efforts shift towards the private sector, with the Covid public health emergency ending in May, the responsibility for vaccinating the population falls largely on private healthcare providers and pharmacies. The forthcoming shots, which are still awaiting authorization by the US Food and Drug Administration and recommendation by the CDC, are expected to be rolled out in the third or fourth week of September.
These annual vaccine shots are aimed at targeting specific subvariants of the Omicron variant, similar to the approach taken with the yearly flu shot.
Covid-related hospitalizations have increased by more than 40% from recent lows reached in June, yet they remain significantly lower than the peak levels experienced during the January 2022 Omicron outbreak.
Amidst discussions among medical experts, questions are arising about the necessity of booster shots for various age groups and risk profiles. While some suggest that annual shots should primarily target high-risk populations, others emphasize the potential benefits of booster shots in reducing the severity and duration of illness.
