COVID-19 Drug Delivery Devices - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global COVID-19 Drug Delivery Devices Market is accounted for $2.07 billion in 2019 and is expected to reach $4.47 billion by 2027 growing at a CAGR of 10.1% during the forecast period. Competitive race among the healthcare companies and drastic surge in drug development due to the COVID-19 outbreak are the major factors driving the market growth. However, high manufacturing cost of COVID-19 drug delivery devices is restraining the market growth.
COVID-19 Drug Delivery Devices are engineered technologies for efficient drug delivery and/or release of therapeutic agents in the circulatory system and drug movement through cells and tissues for the prevention of COVID-19. Drug delivery devices control the rate at which a drug is released and the location in the body where it is released. Some systems can control both the tasks.
Based on route of administration, the parenteral segment is likely to have a huge demand. Novel biologics such as RNA and DNA-based vaccines, recombinant nano particles, and monoclonal antibodies are currently being explored in clinical trials. Such biologics can only be administered intravenously as they are degraded when given orally. 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.
By geography, North America is going to have a lucrative growth during the forecast period. North America has a well-established healthcare infrastructure and a large number of key pharmaceutical companies. It is a developed economy with high disposable income, which enables people to choose from various advanced treatment options. In the U.S., a collaborative framework was established by an initiative named Accelerating COVID-19 Therapeutic Interventions and Vaccines (ACTIV).
Some of the key players profiled in the COVID-19 Drug Delivery Devices Market include AstraZeneca, Bharat Biotech, GlaxoSmithKline Plc, Johnson & Johnson, Moderna, Novawax Inc, Pfizer, PharmaJet and Serum Institute of India.
Route of Administrations Covered:
Distribution Channels Covered:
• Retail Pharmacies
• Online Pharmacies
• Hospital Pharmacies
• Needle Free Injectors
• Prefilled Syringe
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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