Microneedle Flu Vaccine Market Size (2024 - 2029)

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.