COVID-19 Drug Delivery Devices Market To Reach $1.83 Billion By 2030

COVID-19 Drug Delivery Devices Market Growth & Trends

The global COVID-19 drug delivery devices market size is expected to reach USD 1.83 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of (0.4%) from 2024 to 2030. 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.

According to the article published in StatPearls publishing, December 2019, around 2-4% of 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 the U.S.

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COVID-19 Drug Delivery Devices Market Report Highlights

• Prefilled syringes accounted for the largest market share of 43.3% in 2023, owing to the increased demand for efficient and safe vaccine administration

• The parenteral segment secured the dominant market share of 37.1% in 2023 owing to the increased need for rapid and effective vaccine deployment

• Hospital pharmacies held the dominant market share in 2023 pertaining to the rise in chronic diseases and comorbidities among COVID-19 patients and hospitalizations

• The North America COVID-19 drug delivery devices market dominated the global market with a revenue share of 52.7% in 2023 with the high demand for efficient and safe vaccine administration

COVID-19 Drug Delivery Devices Market Segmentation

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

COVID-19 Drug Delivery Devices Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Prefilled Syringe

• Needle-free Injectors

• Inhalers

• Patches

COVID-19 Drug Delivery Devices Route of Administration Outlook (Revenue, USD Billion, 2018 - 2030)

• Parenteral

• Nasal

• Others

COVID-19 Drug Delivery Devices Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Hospital Pharmacies

• Retail Pharmacies

• Online Pharmacies

COVID-19 Drug Delivery Devices Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List Of Key Players in the  COVID-19 Drug Delivery Devices Market

• AstraZeneca

• Johnson & Johnson Services, Inc.

• Serum Institute of India Pvt. Ltd.

• GSK plc

• Moderna, Inc.

• Bharat Biotech

• Pfizer Inc.

• PharmaJet

• Nova Wax