Pressing Need For COVID-19 Vaccine To Boost Demand In COVID-19 Drug Delivery Devices Market

The COVID-19 disease caused due to novel coronavirus has become a pandemic over no time and has impacted all parts of the world in every way. Millions of people have been infected by the virus and several have died. And the number is increasing day by day. Every country is trying its best to develop an effective and immediate solution to get rid of it. The exponential spread of the disease has made all the countries in the world to impose lockdown. This worsening situation is encouraging the experts and researchers to work together to improve the vaccine for COVID-19 such that it eradicates every mutated type of the coronavirus as soon as possible. This has also surged the demand in the global COVID-19 drug delivery devices market.

The FDA approval measures have created a surge of drug delivery devices for COVID-19 since the 2020-end. France, Germany, the Netherlands, and Italy have likewise united to make the Inclusive Vaccine Alliance in June 2020. Such nations have consented to an arrangement with AstraZeneca on the accessibility of Covid antibody. Post-approval the business will distribute more than 500 million units of vaccine doses across Europe. The leading manufacturers are focusing on designing the new drug delivery devices for utilization in resource constricted scenarios, fueling the demand in the global COVID-19 drug delivery devices market. The machines aim to theoretically reduce the prescribed medications, along with their storage cost and transportation prices.

The global Covid-19 drug delivery devices market is broadly segmented into route of administration, product, distribution channel, and region. In terms of product, the global market is segregated into needle-free injectors, prefilled syringes, patches, inhalers, and others. Based on the route of administration, the market is categorized as nasal, parenteral, and dermal. On the basis of distribution channel, the segment is divided into retail pharmacies, hospital pharmacies, and online pharmacies.

Geographically, North America region is likely to lead the global COVID-19 drug delivery devices market within the forecast period, attributed to the most advanced healthcare infrastructure in the region. Besides, the region also serves as the hub for several leading players. The rising disposable income and increasing awareness about the disease and vaccination are some other factors behind the regional growth.

The leading players in the global COVID-19 drug delivery devices market are Serum Institute of India, Bharat Biotech, AstraZeneca, Pfizer, Johnson & Johnson, PharmaJet, Novawax, Inc., Moderna, GlaxoSmithKline Plc, etc. These players are indulging in several business strategies like mergers and acquisitions, collaborations, etc to improve their product portfolios and fortification of their market position. In line, India’s Serum Institute collaborated with AstraZeneca for the production of 1 billion vaccine doses.

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