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Microneedle Flu Vaccine Market Trends

Report ID: GMI9724
Published Date: Jun 2024
Report Format: PDF

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Microneedle Flu Vaccine Market Trends

Increasing prevalence of influenza and other viral infections is a significant growth driver for the market.
For instance, as per the WHO, globally, there are around a billion cases of seasonal influenza annually, leading to 3–5 million cases of severe illness and 290,000 to 650,000 respiratory deaths annually.
Similarly, as per the CDC estimates, there have been at least 35 million illnesses, 390,000 hospitalizations, and 24,000 deaths from flu in the U.S. till May 2024.
Thus, as these infections continue to pose a global health threat, there is a growing emphasis on the development of effective and convenient vaccination methods, thereby fueling market growth.
Further, microneedle-based vaccines offer several advantages over traditional needle-based vaccines, including improved patient compliance, reduced risk of needle-related injuries, and simplified vaccine administration, especially in mass vaccination campaigns.
These factors are driving the adoption of microneedle flu vaccines, particularly in regions with high incidences of influenza and viral infections, thereby fueling the growth of the market.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

Microneedle flu vaccine market size was USD 1.6 billion in 2023 and is expected to register 6.1% CAGR from 2024-2032 owing to the increasing prevalence of influenza and the need for more efficient and effective vaccination methods worldwide.

Microneedle flu vaccine industry from the hollow microneedle segment reached USD 648.2 million in 2023 and is expected to register a commendable CAGR from 2024-2032 due to offering precise and controlled delivery of the vaccine directly into the dermis, which enhances immunogenicity.

North America microneedle flu vaccine industry recorded USD 964.4 million in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to the robust healthcare infrastructure and high adoption rates of advanced medical technologies in the region.

3M, Becton, Dickinson, and Company, Corium International, Inc., CosMED Pharmaceuticals Co., Ltd, FluGen, Inc, and Sanofi, are some of the major microneedle flu vaccine companies worldwide.