COVID-19 Drug Delivery Devices Market Size Worth $2.15 Billion by 2027: Grand View Research, Inc.

COVID-19 Drug Delivery Devices Market Size Worth $2.15 Billion by 2027: Grand View Research, Inc.

PR Newswire

SAN FRANCISCO, July 14, 2020

SAN FRANCISCO, July 14, 2020 /PRNewswire/ -- 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.

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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.

Key suggestions from the report:

Read 108 page research report with ToC on "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 '' at : https://www.grandviewresearch.com /industry-analysis/covid-19-drug-delivery-devices-market

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. 

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

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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