COVID-19 Drug Delivery Devices Market Size Worth $2.15 Billion by 2027

Grand View Research, Inc.

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.

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:

• North America is anticipated to capture the largest share in 2021 owing to growing investment by government organizations for vaccine development, surge in COVID-19 cases, and intensive R&D conducted by the key players 
• By product, the prefilled syringe segment is expected to dominate the market in 2021 as these cost-effective delivery devices will be manufactured in bulk quantities for vaccine administration and will be the first among the approved products
• By route of administration, the parenteral segment is expected to dominate the market in 2021 as the injection devices are affordable and are among the easily available devices
• By distribution channel, the hospital pharmacies segment is expected to account for the largest market share in 2021 as these drug delivery devices require medical assistance for vaccine administration
• Market players are adopting several strategies such as significant investment in research and development and product innovation via collaborations with technology providers and universities to gain a significant share in the global market.

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