Microneedle Flu Vaccine Market to Surpass US$ 2,373.1 Million by 2030, Says Coherent Market Insights (CMI)

Burlingame, April 11, 2023 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, Global Microneedle Flu Vaccine Market is estimated to be valued at US$ 1,547.5 million in 2023 and is expected to exhibit a CAGR of 6.3% during the forecast period (2023-2030).

Analysts’ Views on Global Microneedle Flu Vaccine Market:

Rising demand for microneedle flu vaccine for the treatment of influenza is expected to drive the market growth over the forecast period. For instance, in July 2021, a report published by Springer Nature, an open-access journal, stated that in phase 1 randomized, single-center clinical trial, inactivated influenza virus vaccine delivered through dissolvable microneedle patches (MNPs) was found to be safe and immunogenic.

Key Trends and Analysis of the Global Microneedle Flu Vaccine Market:

The increasing growth strategies such as acquisition by key players in the market to expand product portfolio is expected to drive the market growth over the forecast period. For instance, in August 2022, LTS Lohmann Therapie-Systeme AG, a market leader in transdermal therapeutic systems and oral drug films, announced its acquisition with Tapemark, a pharmaceuticals company, to provide the best possible solution for the delivery of demanding drug products to the customers and patients.

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Global Microneedle Flu Vaccine Market- Drivers

Increasing prevalence of Influenza

Microneedle flu vaccines are mostly used in vaccines for the influenza virus hence, increased prevalence of influenza will require increased usage of microneedle flu vaccines which is expected to drive the global microneedle flu vaccine market growth in the forecast period. For instance, on January 12, 2023, a report published by the World Health Organization (WHO), stated that influenza is estimated to result in about 3 to 5 million cases of severe illness, and about 290,000 to 650,000 respiratory deaths worldwide.

Increasing adoption of strategies such as alliance

Increasing adoption of inorganic strategies such as alliances by key players in the market to expand their product portfolio is expected to drive market growth over the forecast period. For instance, in June 2021, PharmaTher Holdings Ltd, a specialty life sciences company focused on the research and development of psychedelic pharmaceuticals, announced its alliance with TSRL, Inc., a private, preclinical company, to co-develop microneedle patches.

Microneedle Flu Vaccine Market Report Coverage

Global Microneedle Flu Vaccine Market- Restraint

The disadvantages of the microneedle flu vaccine

The major factors that can hamper the growth of the global microneedle flu vaccine market over the forecast period include disadvantages such as scarring of the skin, extended application time, etc. For instance, in August 2021, an article published by National Center for Biotechnology Information (NCBI), stated that the use of a microneedle for transdermal drug delivery introduces disadvantages such as, there is possibility that the drug dose may escape, or the needles may struggle to penetrate the skin at non-conformal angles. Moreover, repetitive applications of microneedles may result in scarring of the skin.

Global Microneedle Flu Vaccine Market- Opportunity

The increasing research and development in the field of microneedle flu vaccine

Various advancements in research and development in the field of microneedle flu vaccines are progressing rapidly in the medical field, leading to the development of new microneedle technologies. For instance, in July 2022, a report published by Springer Nature, a scientific journal, stated that there is an increasing development of the H3N2 influenza microneedle vaccine for cross-protection against antigenic variants.

Global Microneedle Flu Vaccine Market Cross Sectional Analysis:

In flu type, Influenza A segment is dominant during the forecast period in North America region due to the increasing prevalence of influenza in this region, which is expected to drive segment growth over the forecast period. For instance, on 10 February 2023, a report published by the Centers for Disease Control and Prevention (CDC), stated that there have been at least 25 million illnesses, 280,000 hospitalizations, and 18,000 deaths from influenza in the winter season in the U.S.

Global Microneedle Flu Vaccine Market Segmentation:

The global microneedle flu vaccine market report is segmented into Product Type, Vaccine Type, Flu Type, and Region.

Based on Product Type, the market is segmented into solid microneedles, hollow microneedles, coated microneedles, and dissolving microneedles. Out of which, dissolving microneedle segment is expected to dominate in the microneedle flu vaccine market during the forecast period and this is due to the increase in the growth strategies such as product launches by key players in the market.

Based on Vaccine Type, the market is segmented into trivalent flu vaccine, quadrivalent flu vaccine. Out of which, trivalent flu vaccine segment is expected to dominate in the market over the forecast period and this is a due to increase in the use of trivalent flu vaccines for the treatment of influenza flu.

Based on Flu Type, the microneedle flu vaccine market is segmented into influenza A (H1N1, H3N1), influenza B. Influenza A segment is expected to dominate in the market over the forecast period and this is attributed to the increase in the usage of microneedle flu vaccine to treat influenza.

Among all segmentation, Product Type segment has the highest potential due to increasing adoption of organic growth strategies such as product launch by key players in the market to expand their product portfolio. For instance, in November 2022, Mineed Technology, a biomedical technology research and service company, announced the launch of detachable microneedles, which have been developed as a way to deliver bioactive across the stratum corneum.

Global Microneedle Flu Vaccine Market: Key Developments

On February 16, 2023, The University of Connecticut, a national leader among public research universities, announced that it has received federal funding from Biomedical Advanced Research and Development Authority (BARDA), to develop self-administered microneedle COVID-19 vaccine technology

In April 2022, Vaxess Technologies Inc., an innovative life sciences company developing a pipeline of shelf-stable and simple-to-apply vaccines on the MIMIX patch platform announced significant progress towards a clinical entry for the company’s lead program, MIMIX-Flu.

In August 2021, the United States Government Agency Biomedical Advanced Research and Development Authority (BARDA) awarded US$ 1 million to Verndari, Inc, a life science company, to accelerate the research and development of VaxiPatch. This dermal patch vaccine technology can treat various infectious diseases such as influenza and flu.

The increasing funding by research institutes and clinical studies is expected to generate new opportunities for the global microneedle flu vaccine market, which is expected to drive market growth in the forecast period.

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Key Market Takeaways:

The global microneedle flu vaccine market is expected to exhibit a CAGR of 6.3% during the forecast period due to the increasing adoption of inorganic growth strategies such as alliances by key players in the market to increase their product portfolio and presence in the market. For instance, in May 2020, Harro Höfliger, a developer and manufacturer of production and packaging equipment, announced an alliance with Vaxxas, a biotechnology company that develops a novel needle-free vaccination technology.

Among flu type, influenza A segment is dominant due to the increasing prevalence of influenza, which will require microneedle flu vaccine for treatment, which is expected to drive the segment growth over the forecast period. For instance, in November 2021, according to a report published by National Center for Biotechnology Information (NCBI), annual seasonal influenza epidemics result in 290,000–650,000 deaths worldwide.

On the basis of vaccine, trivalent flu vaccine segment is expected to hold a dominant position over the forecast period, owing to increasing usage of the trivalent flu vaccine for the treatment of influenza. For instance, in February 2022, World Health Organization (WHO) recommended trivalent vaccines for use in the 2022-2023 influenza season in the northern hemisphere.

Competitive Landscape:

Key players operating in the global microneedle flu vaccine market include study Sanofi, GC Pharma, Harro Höfliger, CosMED Pharmaceutical Co.Ltd., Micron Biomedical, Inc., LTS Lohmann Therapie-Systeme AG, Micralyne, Inc., Sorrento Therapeutics, Inc., TSRL, Inc., QUADMEDICINE, Raphas Co., Ltd., Cutanos GmbH, 3M, NanoPass, Corium, Inc., BD, FluGen, Inc., MICRODERMICS INC

Market Segmentation:

• Global Microneedle Flu Vaccine Market, By Product Type:
  • Solid Microneedles
  • Hollow Microneedles
  • Coated Microneedles
  • Dissolving Microneedles
• Global Microneedle Flu Vaccine Market, By Vaccine :
  • Trivalent Flu Vaccine
  • Quadrivalent Flu Vaccine
• Global Microneedle Flu Vaccine Market By Flu Type:
  • Influenza A
    • H1N1
    • H3N2
  • 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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