08-Mar-2021

Global Microneedle Flu Vaccine Market to Surpass US$ 2006.5 Million by 2027, Says Coherent Market Insights (CMI)

SEATTLE--(BUSINESS WIRE)--#CoatedMicroneedle--According to Coherent Market Insights, the global microneedle flu vaccine market is estimated to be valued at US$ 1322.1 million in 2020 and is expected to exhibit a CAGR of 6.1% over the forecast period (2020-2027).

Key Trends and Analysis:

The increasing prevalence of influenza flu globally is expected to drive the micro-needle flu vaccine market growth over the forecast period. For instance, according to the World Health Organization (WHO) factsheet of 2018, globally, around 3 to 5 million individuals are affected due to severe influenza and different type of influenza each year.

Moreover, key companies focusing on inorganic strategies such as collaborations and partnerships to strengthen their position in the mico-needle flu vaccine market. For instance, in 2019, GC Pharma Corp, South Korea's major pharmaceutical company entered into a partnership with Vaxess Technologies Inc, a U.S.-based biotechnological company, to commercialize Vaxess' Mimix Smart Release Patch technology, a vaccine designed to deliver medicines and vaccines through silk microneedles that dissolve rapidly in the blood stream with precision and is used for the treatment of flu.

Among regions, North America is expected to hold dominant position in the global micro-needle flu vaccine market over the forecast period, owing to research institutes focusing on innovation of micro-needle vaccines to strengthen their position in the market. For instance, in 2017, Emory University, a research institute in the U.S., completed phase 1 clinical trial of its interventional study of safety, reactogenicity, acceptability, and immunogenicity of inactivated influenza vaccine delivered by micro-needle patch.

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Key Market Takeaways:

The global microneedle flu vaccine market is expected to exhibit a CAGR of 6.1% during the forecast period, owing to rising prevalence of influenza globally. For instance, according to the Centers for Disease Control and Prevention, February 2018 report, during October 2017 and February 2018, clinical laboratories tested 666,493 specimens for influenza virus, of which 124,316 (18.7%) tested positive for influenza virus and 84.3% tested positive for influenza A virus.

Competitive Landscape:

Key players operating in the global microneedle flu vaccine market include Sanofi S.A., GC Pharma, Debiotech S.A, 3M Company, NanoPass Technologies Limited, Corium International, Inc, Becton, Dickinson and Company, FluGen, Inc, CosMED Pharmaceuticals Co., Ltd, Microdermics and OraSure Technologies, Inc.

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Market Segmentation:

Global Microneedle Flu Vaccine Market, By Product Type:
- Solid Microneedle
- Hollow Microneedle
- Coated Microneedle
- Dissolving Microneedle

GlobalMicroneedle Flu Vaccine Market, By Vaccine Type:
- Trivalent Flu Vaccine
- Quadrivalent Flu Vaccine

Global Microneedle Flu Vaccine Market, By Flu Type:
- Influenza A
  - H1N1
  - H3N1
- Influenza B

Global Microneedle Flu Vaccine Market, By Region:
- North America
  - By Country:
    - U.S.
    - Canada
- Latin America
  - By Country:
    - Brazil
    - Mexico
    - Argentina
    - Rest of Latin America
- Europe
  - By Country:
    - Germany
    - U.K.
    - France
    - Italy
    - Spain
    - Russia
    - Rest of Europe
- Asia Pacific
  - By Country:
    - China
    - India
    - Japan
    - Australia
    - South Korea
    - ASEAN
    - Rest of Asia Pacific
- Middle East
  - By Country:
    - GCC
    - Israel
    - Rest of Middle East
- Africa
  - By Country/Region:
    - South Africa
    - Central Africa
    - North Africa

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Last Updated: 08-Mar-2021