Covid-19 Drug Delivery Devices Market: Hospital Pharmacies Segment Is Expected To Account For The Largest Share

 COVID-19 Drug Delivery Devices Industry Overview

The global COVID-19 drug delivery devices market size is valued at USD 1.87 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 8.1% from 2022 to 2027. The drastic surge in drug development due to the COVID-19 outbreak and competitive race among the healthcare companies owing to the lack of effective treatments or vaccines are anticipated to create a lucrative environment for market growth. The unavailability of adequate medications and the absence of effective alternatives for COVID-19 management are anticipated to accelerate the U.S. FDA approval pathway, thus creating a surge for COVID-19 drug delivery devices by 2020 end. Drugmakers are in a rush to develop vaccines and therapies for the highly contagious coronavirus that has killed over 500,000 people worldwide, infected more than 10.5 million by the start of July 2020, and severely impacted the economies globally. The unprecedented outbreak has compelled various researchers and a group of experts with diverse backgrounds to collectively work on the development of vaccines against COVID-19. Constant efforts are implemented to make suitable vaccines available for meeting the emergency needs caused by a pandemic. In April 2020, a Research and Development (R&D) Blueprint was set up by the WHO in response to the COVID-19 outbreak. The R&D was mainly activated to speed up the development of diagnostics, vaccines, and therapeutics for the condition.

Gather more insights about the market drivers, restrains and growth of the Global COVID-19 Drug Delivery Devices market

 

In early June 2020, France, Germany, Italy, and the Netherlands partnered to form the Inclusive Vaccine Alliance. On 13th June 2020, these countries inked an agreement with AstraZeneca for the supply of the coronavirus vaccine. The company will supply 300 to 400 million doses of vaccine in Europe post-approval. To accelerate the global supply, the company has signed agreements with the Coalition for Epidemic Preparedness Innovations (CEPI) and vaccines organization GAVI to help provide 700 million doses. AstraZeneca has also partnered with the Serum Institute of India to help provide 1 billion doses. In May 2020, the allocation of a USD 13 million grant from PM-CARES (Prime Minister’s Citizen Assistance and Relief in Emergency Situations) funds to support vaccine development was among the trends observed in India. Moreover, the DBT-BIRAC (Biotechnology Industry Research Assistance Council) consortium is providing regulatory and monetary support for about 10 vaccine projects in India. DBT, under its National Biopharma Mission, aids in the fast-track vaccine development programs. Additionally, on 4th June 2020, the Union Health Ministry relaxed the stringent regulations of the Drugs and Cosmetics Act, 1940 to speed up the development of a COVID-19 vaccine.


Browse through Grand View Research's Medical Devices Industry Research Reports.

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COVID-19 Drug Delivery Devices Market Segmentation

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

COVID-19 Drug Delivery Devices Product Outlook (Revenue, USD Million, 2020 - 2027)

  • Prefilled Syringe
  • Needle-free Injectors
  • Inhalers
  • Patch

 

COVID-19 Drug Delivery Devices Route of Administration Outlook (Revenue, USD Million, 2020 - 2027)

  • Parenteral
  • Nasal
  • Dermal

 

COVID-19 Drug Delivery Devices Distribution Channel Outlook (Revenue, USD Million, 2020 - 2027)

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

 

COVID-19 Drug Delivery Devices Regional Outlook (Revenue, USD Million, 2020 - 2027)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies profiled:

Some prominent players in the global COVID-19 Drug Delivery Devices market include

  • AstraZeneca
  • Johnson & Johnson
  • Serum Institute of India
  • GlaxoSmithKline plc
  • Moderna
  • Bharat Biotech
  • Pfizer
  • PharmaJet
  • Novawax, Inc.

 

Order a free sample PDF of the COVID-19 Drug Delivery Devices Market Intelligence Study, published by Grand View Research.

 

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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