COVID-19 Drug Delivery Devices Market Growth Analysis, Demand and Development Research Report to 2028

Posted on 2022-12-01 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Dec 02, 2022 — /EPR Network/ —

COVID-19 Drug Delivery Devices Industry Overview

The global COVID-19 Drug Delivery Devices Market size is expected to reach USD 2.15 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.1% from 2022 to 2027. The market is expected to gain significant traction over the forecast period as various nasal drug delivery technologies for administrating COVID-19 vaccines are under clinical and pre-clinical development. For instance, in April 2020, Verndari, Inc. initiated the preclinical trials for coronavirus vaccine using its patented microneedle array dermal patch- VaxiPatch.

The nasal, dermal, and needle-free are alternatives to the traditional syringe vaccine platforms. These devices potentially reduce or eliminate needlestick injuries and reduce the associated treatment costs. According to the research article published in PLUS ONE Journal, November 2019, needlestick injury (NSI) is among a major burden in medical settings, leading to the transmission of infectious diseases, such as hepatitis and HIV.

COVID-19 Drug Delivery Devices Market Segmentation

Grand View Research has segmented the global COVID-19 drug delivery devices market based on the product, route of administration, distribution channel, and region:

Based on the Product Insights, the market is segmented into Prefilled Syringe, Needle-free Injectors, Inhalers, and Patch

The prefilled syringe segment is expected to account for the largest revenue share of 64.6% in 2021 as several efforts are put up by the government organizations to ramp up prefilled syringe production.
The developers are focused on developing novel drug delivery platforms for use in resource-constrained settings, thus accelerating the growth of nasal drug delivery devices.

Based on the Route of Administration Insights, the market is segmented into Parenteral, Nasal, and Dermal

The parenteral segment is expected to capture more than 60.0% share of the overall revenue in 2021 and is anticipated to maintain its lead over the forecast period.
Currently, about 10 potential COVID-19 vaccine candidates have entered the clinical trials, most of which are to be administered via a parenteral route of administration.
The nasal segment is anticipated to witness significant growth over the forecast period as the drug and vaccine manufacturers are focused on developing vaccines, which would reduce storage and administration costs.

Based on the Distribution Channel Insights, the market is segmented into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies

The hospital pharmacies segment is expected to account for the largest market share of 57.3% in 2021 as these drug delivery devices require medical assistance for vaccine administration.
The online pharmacies segment is expected to expand at the highest CAGR of 14.4% from 2022 to 2027 and is anticipated to maintain its lead over the forecast period.

COVID-19 Drug Delivery Devices Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

Market players are adopting several strategies such as acquisitions to intensify the product portfolio and for geographical expansion, significant investment in research and development, and product launch and innovation to gain a significant share in the global market.

Some prominent players in the global COVID-19 Drug Delivery Devices market include:

AstraZeneca
Johnson & Johnson
Serum Institute of India
GlaxoSmithKline plc
Moderna
Bharat Biotech
Pfizer
PharmaJet
Novawax, Inc.

Order a free sample PDF of the COVID-19 Drug Delivery Devices Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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