Microneedle Flu Vaccine Market Set for Robust Growth over 2022-2028 Owing to Increasing Incidence of Flu
The microneedle flu vaccine market has witnessed significant growth over the recent past. Flu vaccines administered through microneedle patches are discreet and significantly less painful when compared to traditional intramuscular or subcutaneous flu shots. The microneedles are so small that they can deliver vaccines or drugs through the skin almost painlessly. The microneedle flu vaccine offers similar immune response as traditional flu shots but provides added benefits such as easy self-administration and risk-free administration.
The Global microneedle flu vaccine market is estimated to be valued at US$ 167.6 million in 2028 and is expected to exhibit a CAGR of 6.3% over the forecast period 2022-2028.
Key Takeaways
Key players operating in the microneedle flu vaccine market are Vaxxas, Nanopass Technologies, Becton Dickinson and Company, andinfluenza vaccine.
Growing awareness about vaccine delivery through microneedle patches and rising demand for painless administration of vaccines is expected to create significant growth opportunities for players in the market.
Major players are focusing on geographical expansion strategies to tap growth opportunities in emerging markets such as Asia Pacific and Latin America. The increasing procurement of influenza vaccines by government bodies is driving the demand in these regions.
Market drivers
The increasing incidence of seasonal and pandemic influenza across the globe is a major factor driving Microneedle Flu Vaccine Market Growth. As per CDC, every year millions of people get sick with the flu in the US alone. The microneedle flu vaccine offers an effective and painless alternative to traditional flu shots encouraging more people to opt for flu vaccination annually. The ease of self-administration and convenient delivery are further adding to the demand for microneedle flu vaccines.
PEST Analysis
Political: The government policies to promote flu vaccines adoption can positively impact the microneedle flu vaccine market. Government funding for R&D of new vaccine technologies will encourage innovation.
Economic: Growing healthcare budgets and per capita healthcare expenditure in many countries provide opportunities for growth. Cost-effectiveness of microneedle vaccines compared to traditional vaccines make them attractive for mass immunization programs.
Social: Increasing awareness about benefits of vaccination and public health initiatives to educate people will drive the demand. Elderly population which is more vulnerable to flu infections forms a major demographic benefiting from easy administration of microneedle flu vaccines.
Technological: Advancements in material sciences, microfabrication techniques and vaccination methods enable precise engineering of microneedles to effectively deliver flu antigens. Ongoing R&D aims to enhance thermal and mechanical stability, payload encapsulation and minimiz
The microneedle flu vaccine market has witnessed significant growth over the recent past. Flu vaccines administered through microneedle patches are discreet and significantly less painful when compared to traditional intramuscular or subcutaneous flu shots. The microneedles are so small that they can deliver vaccines or drugs through the skin almost painlessly. The microneedle flu vaccine offers similar immune response as traditional flu shots but provides added benefits such as easy self-administration and risk-free administration.
The Global microneedle flu vaccine market is estimated to be valued at US$ 167.6 million in 2028 and is expected to exhibit a CAGR of 6.3% over the forecast period 2022-2028.
Key Takeaways
Key players operating in the microneedle flu vaccine market are Vaxxas, Nanopass Technologies, Becton Dickinson and Company, andinfluenza vaccine.
Growing awareness about vaccine delivery through microneedle patches and rising demand for painless administration of vaccines is expected to create significant growth opportunities for players in the market.
Major players are focusing on geographical expansion strategies to tap growth opportunities in emerging markets such as Asia Pacific and Latin America. The increasing procurement of influenza vaccines by government bodies is driving the demand in these regions.
Market drivers
The increasing incidence of seasonal and pandemic influenza across the globe is a major factor driving Microneedle Flu Vaccine Market Growth. As per CDC, every year millions of people get sick with the flu in the US alone. The microneedle flu vaccine offers an effective and painless alternative to traditional flu shots encouraging more people to opt for flu vaccination annually. The ease of self-administration and convenient delivery are further adding to the demand for microneedle flu vaccines.
PEST Analysis
Political: The government policies to promote flu vaccines adoption can positively impact the microneedle flu vaccine market. Government funding for R&D of new vaccine technologies will encourage innovation.
Economic: Growing healthcare budgets and per capita healthcare expenditure in many countries provide opportunities for growth. Cost-effectiveness of microneedle vaccines compared to traditional vaccines make them attractive for mass immunization programs.
Social: Increasing awareness about benefits of vaccination and public health initiatives to educate people will drive the demand. Elderly population which is more vulnerable to flu infections forms a major demographic benefiting from easy administration of microneedle flu vaccines.
Technological: Advancements in material sciences, microfabrication techniques and vaccination methods enable precise engineering of microneedles to effectively deliver flu antigens. Ongoing R&D aims to enhance thermal and mechanical stability, payload encapsulation and minimiz
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