Market Size of Microneedle Flu Vaccine Industry
Study Period | 2021 - 2029 |
Market Size (2024) | USD 1.52 Billion |
Market Size (2029) | USD 2.13 Billion |
CAGR (2024 - 2029) | 6.95 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Microneedle Flu Vaccine Market Analysis
The Microneedle Flu Vaccine Market size is estimated at USD 1.52 billion in 2024, and is expected to reach USD 2.13 billion by 2029, growing at a CAGR of 6.95% during the forecast period (2024-2029).
The coronavirus (COVID-19) pandemic and subsequent lockdown in various countries around the world impacted the financial health of major microneedle flu vaccine companies. The pandemic had a negative impact on the global microneedle flu vaccine market in various aspects, such as the development, production, and supply of medicines due to government-imposed lockdowns.
It also had a negative impact on the growth of various pharmaceutical businesses around the world. For instance, as per an article published in June 2022 by The New England Journal of Medicine, influenza vaccine uptake remained relatively stable during the first influenza season of the pandemic. In contrast, after Covid-19 vaccines became widely available (2021-2022 season), adult influenza vaccine uptake decreased within states in the bottom two quartiles of Covid-19 vaccine uptake. However, the market growth is stabilizing in the current scenario after COVID-19 as the worldwide restrictions have eased down and disease screening services have been resumed.
Over the forecast period, the micro-needle flu vaccine market is expected to grow due to the rising global prevalence of influenza and key players focusing on research and development of micro-needle flu vaccines. According to the CDC updates in January 2022, 9 million were affected with flu, and there were140,000-710,000 hospitalizations, and 12,000-52,000 deaths annually in the United States between 2010 and 2020. Furthermore, according to the data published by WHO in 2022, during the years 2021-2022, Global Influenza Surveillance and Response System (GISRS) laboratories tested over 490 516 specimens. 12,368 people tested positive for influenza viruses, with 8,423 (68.1%) being influenza A and 3,945 (31.9%) being influenza B.
Key companies focus on inorganic strategies such as mergers and acquisitions to strengthen their position in the global microneedle flu vaccine market. For instance, in June 2021, Microdermics, Inc. merged with Novateur Ventures, a well-known global life sciences advisory firm, to provide strategic advice and lead the transaction process for the commercialization of a novel microneedle flu vaccine and biosensing platform.
Government agencies are investing more in the research and development of microneedle vaccine patches, hence the global microneedle flu vaccine market is expected to grow significantly during the forecast period. For instance, in August 2021, the United States Government Agency Biomedical Advanced Research and Development Authority (BARDA) awarded Verndari, Inc USD 1 million to accelerate the research and development of VaxiPatch. This dermal patch vaccine technology can treat various infectious diseases such as influenza.
However, external factors such as skin hydration could affect drug delivery, and the high cost of microneedle vaccines compared to traditional vaccines may restrain the market growth over the forecast period.
Microneedle Flu Vaccine Industry Segmentation
Microneedles are a new type of dose delivery system that can easily overcome the issues that come with traditional formulations. The microneedle device is made up of micron-sized needles that are arranged on a small dermal patch. Micro-needles come in various shapes and sizes, including hollow and solid micro-needles.
The Microneedle Flu Vaccine Market is segmented by Product Type (Solid Microneedle, Hollow Microneedle), Vaccine Type (Trivalent Flu Vaccine, Quadrivalent Flu Vaccine), and Geography (North America, Europe, Asia-Pacific, Rest of the World). The report offers the value (in USD million) for the above segments. The report also covers the estimated market sizes and trends for 17 countries across major regions globally.
By Product Type | |
Solid Microneedle | |
Hollow Microneedle |
By Vaccine Type | |
Trivalent Flu Vaccine | |
Quadrivalent Flu Vaccine |
Geography | ||||||||
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Rest of the World |
Microneedle Flu Vaccine Market Size Summary
The microneedle flu vaccine market is poised for significant growth over the forecast period, driven by the increasing global prevalence of influenza and advancements in vaccine technology. The market, which experienced setbacks due to the COVID-19 pandemic, is now stabilizing as restrictions ease and disease screening services resume. Key players in the industry are focusing on research and development to enhance vaccine efficacy and delivery methods. The quadrivalent influenza vaccine segment is particularly noteworthy, offering cost-effectiveness and broad protection against multiple flu strains. This segment's growth is supported by ongoing clinical trials and the development of new therapeutic approaches, creating substantial opportunities for market participants.
North America currently leads the microneedle flu vaccine market, with a strong presence expected to continue due to the high prevalence of influenza and proactive public health initiatives. The region's market is bolstered by new flu prevention campaigns and the development of effective vaccination delivery systems. Companies like Sanofi, BD, and others are key players in this consolidated market, contributing significantly to its share. Recent advancements, such as Vaxess Technologies' successful clinical trials and Micron Biomedical's funding for commercial manufacturing, highlight the dynamic nature of the industry. These developments, along with government investments in research and development, are anticipated to drive the market's expansion in the coming years.
Microneedle Flu Vaccine Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Influenza and Viral Infections
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1.2.2 Key Players Focusing on Research and Development of Micro-Needle Flu Vaccines
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1.3 Market Restraints
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1.3.1 Complications and Risks Associated with Microneedles
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product Type
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2.1.1 Solid Microneedle
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2.1.2 Hollow Microneedle
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2.2 By Vaccine Type
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2.2.1 Trivalent Flu Vaccine
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2.2.2 Quadrivalent Flu Vaccine
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Rest of the World
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Microneedle Flu Vaccine Market Size FAQs
How big is the Microneedle Flu Vaccine Market?
The Microneedle Flu Vaccine Market size is expected to reach USD 1.52 billion in 2024 and grow at a CAGR of 6.95% to reach USD 2.13 billion by 2029.
What is the current Microneedle Flu Vaccine Market size?
In 2024, the Microneedle Flu Vaccine Market size is expected to reach USD 1.52 billion.