With the rapid spread of the new variant across several parts of the world, the demand for COVID-19 vaccines and booster shots is expected to increase significantly. According to a BCC Research report, the global market for vaccine technologies is expected to grow at a 7.6% CAGR over the next five years to $55.10 billion.
Therefore, we think it could be wise to bet on quality COVID-19 vaccine stocks Pfizer Inc. (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX). They have gained significantly in price, especially with the emergence of the omicron variant. And these stocks are expected to continue rallying in the coming months.