Market Research Report
COVID-19 Drug Delivery Devices Market Size, Share & Trends Analysis Report By Product (Prefilled Syringe, Patches), By Route of Administration, By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2027
|Published by||Grand View Research, Inc.||Product code||952603|
|Published||Content info||108 Pages
Delivery time: 2-3 business days
|COVID-19 Drug Delivery Devices Market Size, Share & Trends Analysis Report By Product (Prefilled Syringe, Patches), By Route of Administration, By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2027|
|Published: July 3, 2020||Content info: 108 Pages||
Market Growth & Trends
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 the 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.
According to the article published in StatPearls publishing, December 2019, around 2-4% healthcare workers develop hepatitis C after suffering from needlestick injuries. The CDC further stated that needlestick injuries cost an estimated USD 3,042 per victim annually in U.S.