Meaning of "material drop"

Hi,
I have recently come across “material drop” in the Guardian article. Please could you explain what it means?
Stéphane Bancel told the Financial Times: “I think it’s going to be a material drop. I just don’t know how much because we need to wait for the data. But all the scientists I’ve talked to … are like ‘this is not going to be good’.”

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I needed to see the article to get the context.
The meaning of Material here is significant or important. Something to take notice of.
So here they are talking about a significant decrease in vaccine effectiveness.
I think that “material” in this sense is more apt to be used by a scientist/researcher or lawyer than by others.

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In law, the might talk about a material witness.

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Стефан Бансель сказал Financial Times: “Я думаю, что это будет существенное падение. Я просто не знаю, насколько, потому что нам нужно дождаться данных. Но все ученые, с которыми я говорил… говорят: “Это не будет хорошо””.

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https://www.thefreedictionary.com/material

adj.
4. Being both relevant and consequential; crucial : testimony material to the inquiry. See Synonyms at relevant.

adj.
9. of great import or consequence : of material benefit to the workers.

adj.
12. important : to make a material difference.

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Thank you very much!

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