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Press Release: Microneedle Flu Vaccine Market to Surpass US$ 2006.5 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Micro-needles are new form of dose delivery systems, which can easily overcome various problems associated with the conventional formulations. Microneedle device consists of needles of micron size, which are arranged on a small dermal patch. The main principle of micro-needles include disruption of the skin layer, thus creating micron size pathway for drug delivery, in which the drugs can easily be transferred from epidermis or upper dermis region directly to the systemic circulation without facing any barrier. Micro-needles are of various types such as dissolving micro-needles, coated micro-needles, hollow micro-needles, and fabricated like solid micro-needles.
The global micro-needle flu vaccine market is estimated to be valued at US$ 1322.1 Mn in 2020 and is expected to exhibit a CAGR of 6.1% during the forecast period (2020-2027).
Figure 1. Global Micro-needle Flu Vaccine Market Value (US$ Mn), 2016-2027
Key companies are focusing on inorganic strategies such as mergers and acquisitions to strengthen their position in the global micro-needle flu vaccine market. For instance, in June 2020, Microdermics, Inc, came into a strategic merger with Novateur Ventures, an established global life sciences advisory company to provide strategic advisory support and to lead the transaction process for commercializing novel micro-needle flu vaccine and biosensing platform.
Moreover, government regulatory bodies taking initiatives to decrease the prevalence of influenza flu in the U.S. is expected to drive growth of the micro-needle flu vaccine market. For instance, in 2019, according to the Advisory Committee on Immunization Practices, a committee in the U.S. for Centers for Disease Control and Prevention, which provides advice and guidance on effective control of diseases in the U.S., stated that every individuals of 6 month of age and older should get an influenza flu vaccine every season to decrease the incidence of flu affecting individuals in the U.S.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 1,322.1 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 6.1% | 2027 Value Projection: | US$ 2006.5 Mn |
| Geographies covered: |
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| Companies covered: |
Sanofi S.A., GC Pharma, Debiotech S.A, 3M Company, NanoPass Technologies Limited, Corium International, Inc, Becton, Dickinson and Company, FluGen, Inc, CosMED Pharmaceuticals Co., Ltd, Microdermics and OraSure Technologies, Inc. |
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Global Microneedle Flu Vaccine Market – Impact of Coronavirus (COVID-19)
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it as a public health emergency. According to the World Health Organization’s report, the manifestation of the coronavirus (COVID-19) has resulted in more than 45 million infected individuals worldwide, as of October 30, 2020.
The coronavirus (COVID-19) pandemic and resulting lockdown in various countries across the globe have impacted the financial status of major companies in micro-needle flu vaccine vaccines. The private healthcare sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The pandemic has negatively impacted the global micro-needle flu vaccine market in various aspects such as development, production, and supply of medicines and also affected growth of the pharmaceutical businesses of various companies across the globe due to lockdowns implemented by governments of several countries. The nationwide lockdowns have led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of the raw materials and drugs for therapeutic use.
Figure 2. Global Microneedle Flu Vaccine Market Share (%), by Region, 2020
Among regions, In North America, Launch of new campaigns and initiatives by healthcare agencies in order to prevent the flu is expected to drive demand for influenza vaccine and development of effective delivery systems for vaccination. For instance, in October 2020, the Centers for Disease Control and Prevention (CDC) and the National Foundation for Infectious Diseases (NFID), along with other public health and medical groups collaboratively announced the launch of 2020-2021 flu vaccination season and emphasized the importance of vaccination and recommended that everyone 6 months and older should get vaccinated against flu, annually
Key Players
Major players operating in the global microneedle flu vaccine market include Sanofi S.A., GC Pharma, Debiotech S.A, 3M Company, NanoPass Technologies Limited, Corium International, Inc, Becton, Dickinson and Company, FluGen, Inc, CosMED Pharmaceuticals Co., Ltd, Microdermics and OraSure Technologies, Inc.
Drug delivery through the skin by transdermal patches has always been effective against viral infection and flu. Drug delivery through transdermal route is mainly effective due to passive diffusion of the drug and followed by drug development in transdermal delivery systems through different mechanism of action such as iontophorresis and sonophoresis. Moreover, pharmaceutical companies are focusing on development of micro-needle vaccines due to its immense utility in transdermal delivery of very large drug molecules with ionic and hydrophilic nature.
Market Dynamics
The global micro-needle flu vaccine market is expected to witness significant growth during the forecast period, as government agencies are investing more on the research and development of microneedle vaccine patches. For instance, in August 2020, Verndari, Inc received the funding of US$ 1 million from the U.S. Government Agency BARDA for accelerating the research and development of VaxiPatch, a dermal patch vaccine technology that can be used for treatment of various infectious diseases such as influenza flu.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 35 market data tables and 32 figures on "Microneedle Flu Vaccine Market – Global Forecast to 2027”.
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