Global COVID-19 Drug Delivery Devices Market by Product (Prefilled Syringe, Patches) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global COVID-19 drug delivery device market is estimated to be worth USD 1.87 billion by 2020. It is projected to grow at an 8.1% compound annual growth rate (CAGR), between 2022 and 2027. Due to the COVID-19 epidemic, there will be a significant increase in drug development and a fierce competition among healthcare companies to provide a favorable environment for market growth. The U.S. FDA will likely accelerate its approval process, resulting in a surge in COVID-19 delivery devices. The highly contagious coronavirus has already killed more than 500,000 people around the world. It infected over 10.5 million people by July 2020 and had severe economic impacts on the global economies. Drugmakers are racing to create vaccines and treatments.

This unprecedented outbreak has led to many researchers and experts from diverse backgrounds working together to develop vaccines against COVID-19. Continuous efforts are made to ensure that vaccines can be developed for the urgent needs of a pandemic. The WHO created a Research and Development Blueprint (R&D) in April 2020 to address the COVID-19 epidemic. This R&D was activated primarily to accelerate the development of diagnostics and vaccines as well as therapeutics.

The Inclusive Vaccine Alliance was formed by France, Germany and Italy in June 2020. These countries signed an agreement with AstraZeneca on 13 June 2020 for the supply and distribution of coronavirus vaccine. After approval, the company will supply Europe with 300-400 million doses of vaccine. To accelerate global supply, the company has entered into agreements with the Coalition for Epidemic Preparedness Innovations and GAVI, a vaccines organization, to provide 700 million doses. AstraZeneca also has partnered with India's Serum Institute to provide 1 billion doses.

The allocation of USD 13,000,000 grant from PM-CARES funds in May 2020 to support vaccine development was one of the most notable trends in India. The DBT-BIRAC consortium (Biotechnology Industry Support Assistance Council) provides regulatory and monetary support to approximately 10 Indian vaccine projects. DBT's National Biopharma Mission assists in rapid-track vaccine development programs. The Union Health Ministry also relaxed regulations under the Drugs and Cosmetics Act 1940 on the 4th of June 2020 to accelerate the development of a COVID-19 vaccination.

Product Insights

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The developers are focusing on the development of novel drug delivery platforms that can be used in resource-constrained environments, which will accelerate the growth and adoption of nasal drug delivery devices. These devices could reduce the cost of drug administration, transport, and storage. Bharat Biotech, for example, began clinical trials for its COVID-19 nasal spray vaccine in April 2020. FluGen, a vaccine development company that conducts human trials in the U.S., and the University of Wisconsin-Madison have been part of the collaboration.

Distribution Channel Insights

Hospital pharmacies will be the market leader with a market share of 57.3% by 2021. This is because these drug delivery devices are dependent on medical assistance to administer vaccines. Online pharmacies are expected to grow at a 14.4% CAGR from 2022-2027. It is expected to continue its lead during the forecast period. These pharmacies are crucial in providing critical health services, such as vaccines and therapeutics, to the public.

Furthermore, the market share is increased by vaccine administration in healthcare institutions and medical settings. These settings can adopt vaccines from hospital pharmacy pharmacies, which reduces storage and transport costs. The 2 ^nd June 2019 request by the National Association of Chain Drug Stores to the U.S. government was for pharmacists and pharmacies to be able to quickly deploy COVID-19 vaccines. The main goal is to safely and efficiently vaccinate America's population.

Route of Administration Insights

In 2021, the parenteral segment will capture over 60% of total revenue and will continue to lead the market for the forecast period. Clinical trials are underway for novel biologics like RNA and DNA-based vaccinations, recombinant microparticles and monoclonal antibody. These biologics cannot be given intravenously because they are too toxic to be taken orally. There are currently about 10 COVID-19 potential vaccine candidates in the clinical tests. Most of these will be administered via a parenteral route. Moderna began a Phase II clinical study for mRNA-1273 (a COVID-19 candidate vaccine) on 1 June 2020. Moderna partnered with VRC, the National Institute of Allergy and Infectious Diseases.

As drug and vaccine companies are focusing on developing vaccines that would lower storage and administration costs, the nasal segment will see significant growth. This innovative approach reduces the risk of needlestick injuries and disease transmission, which in turn saves healthcare costs.

Regional Insights

North America will capture 52.4% of the global market share in 2021, and it is expected that it will continue to lead the way over the forecast period. North America is home to a strong healthcare system and many major pharmaceutical companies. The country is a developed one with high disposable income. This allows people to select from advanced treatments. This region is home to the majority of people who have access to health insurance and healthcare services. Due to the continuous innovation, the region will continue to lead in the future. Accelerating COVID-19 Therapeutic interventions and Vaccines (ACTIV) was an initiative that established a collaboration framework in the U.S. This initiative is intended to bring together biopharmaceutical firms, the Centers for Disease Control and Prevention (CDC), the U.S. Food and Drug Administration (FDA) and the European Medicines Agency.

Asia Pacific will likely see a significant CAGR during the forecast period, as it is home to emerging economies such as India, China, and Japan. The region's market growth will be boosted by a large population, increased research funding, and exponentially registered COVID-19 cases. UNICEF and the Government of Japan signed a grant agreement in April 2020 to support COVID-19 responses, strengthen them, and protect children against pandemics in the Asia Pacific region.

Market Share Insights & Key Companies

To gain significant market share, market players adopt a variety of strategies, including acquisitions to expand their product range and geographic expansion, substantial investment in research and developing, product launches and innovation. In May 2020, PharmaJet (the developer of needle-free injection technology) partnered with Abnova Corporation (a Taiwan-based antibody manufacturer). This partnership was to create a needle-free injection technology that could deliver a messengerRNA (mRNA), vaccine against coronavirus. Johnson & Johnson partnered with the U.S. Biomedical Advanced Research and Development Authority in February 2020 to help accelerate the development of a vaccine for the new SARS-CoV-2 coronavirus. The organizations have together funded US$ 1 Billion for R&D.

• AstraZeneca

• Johnson & Johnson

• Serum Institute of Indian

• GlaxoSmithKline plc

• Moderna

• Bharat Biotech

• Pfizer

• PharmaJet

• Novawax, Inc.

Up Market Research published a new report titled “COVID-19 Drug Delivery Devices Market research report which is segmented by Product (Prefilled Syringe, Patches), By Players/Companies GlaxoSmithKline plc, Moderna, Pfizer, Novawax Inc, AstraZeneca, PharmaJet, Johnson & Johnson, Bharat Biotech, Serum Institute of India”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global COVID-19 Drug Delivery Devices Market Report Segments:

The market is segmented by Product (Prefilled Syringe, Patches).

COVID-19 Drug Delivery Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the COVID-19 Drug Delivery Devices Market

Overview of the regional outlook of the COVID-19 Drug Delivery Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The COVID-19 Drug Delivery Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of COVID-19 Drug Delivery Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Prefilled Syringe

                2. Patches

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the COVID-19 Drug Delivery Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

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Reasons to Purchase the COVID-19 Drug Delivery Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.