Yahoo Finance Intradermal injection Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Method, Application, and End User
The intradermal injection market is projected to reach US$ 7,415. 70 million by 2028 from US$ 3,513. 26 million in 2021 and is expected to register a CAGR of 11. 3% from 2021 to 2028. The report highlights trends prevailing in the market and factors driving the market growth.
New York, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Intradermal injection Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Method, Application, and End User" - https://www.reportlinker.com/p06232564/?utm_source=GNW
The intradermal injection market growth is attributed to the increasing intradermal vaccination, increasing incidence of various diseases, and rising acceptance of aesthetic procedures.
Additionally, stratageic developments by manufacturers are likely to emerge as a significant trend in the market during the forecast period. However, the risks, complications, and dosing limitations associated with Intradermal Injections hamper the growth of the intradermal injection market.
Most of the developing and developed countries are currently considering the healthcare sector as one of the essential segments, which resulted in the exponential increase in healthcare expenditure with the aim of providing better infrastructure and medical facilities.For fulfilling the rising global demand, various pharmaceutical giants are working to develop ideal drugs and devices, and intradermal injections are emerging as one of the potential devices used for the treatment, diagnosis, vaccination, and cosmetic procedures.
Rising acceptance of intradermal vaccination is believed to act as major driver for the global intradermal injection market as it has several advantages over the conventional method of vaccination.Intradermal vaccination helps in reducing the potential dose of antigens, improves the immune response generated by the vaccine and decrease the anxiety associated with the vaccination.
By developing intradermal injection, a large population can be vaccinated with comparatively lesser production of the vaccine while this method is also able to vaccinate the difficult group of population with comorbidities as chances of adverse events is low as compared to conventional vaccination. Recently, several intradermal COVID19 vaccines, hepatitis A vaccine, hepatitis B vaccine, Influenza vaccines, polio vaccine measles vaccine, Rabies vaccine, tetanus vaccine, yellow fever vaccine, diphtheria-tetanus-pertussis vaccine etc. shows improvement in the overall response rate and hence several leading pharmaceutical and biotechnological companies are currently working on the development of intradermal injections of the new as well as commercially available vaccines. In 2020, Sanofi received the FDA approval for its intradermal vaccine of Influenza names Fluzone, which is rapidly overtaking the influenza vaccine market and replacing the congenital treatments for these diseases.
Further, more than one-third of the global population has a risk of developing tuberculosis, and an intense increase in the number of tuberculosis skin test procedures has been observed during the past few years.Intradermal tuberculin syringes are used for diagnosing tuberculosis, and several leading manufacturers of drug delivery devices are currently developing these tuberculin syringes.
Along with this, the prevalence of allergies has increased several times during the past decade, mainly due to the rise in awareness among the population about several allergy-related conditions. The intradermal injections are used as an ideal device for conducting sensitivity tests for several allergens.
In addition to this, the local aesthetic procedures are also increasing rapidly, and the number of nonsurgical cosmetic procedures has increased by 51.4% from 2011 to 2017 as per the estimates of ISAPS. Along with this, many new intradermal vaccinations are believed to get approval as intradermal vaccination is able to produce better response along with reduction in the required dose and adverse events. . Along with this, several studies concluded that the intradermal injection could improve the uptake of various cancers and immunological drugs while it can also be used to deliver the gene therapies. Further, continuously increasing cases of COVID19 is also indicating towards the future potential of this segment as various intradermal preparations are under investigation and about to get approved in near future. As the global population is increasing continuously, the number of cases will also increase in near future, which ultimately increases the demand of intradermal injection. Further, the novel intradermal injection devices such as Tropis ID of Pharmajet shows prominent results in delivering various drugs for targeting a wide range of diseases and expands the therapeutic area of the intradermal products.
Besides the benefits of intradermal injection, several drawbacks are also associated with these drug delivery devices including injection site reactions and dosing limitations, which are acting as major restraints for the intradermal injection market.It is observed that skin discoloration, swelling, redness, itching and irritation occurs at the site of injection after the intradermal delivery of active ingredient.
For overcoming the challenges related to the injection site infections, the researchers are working to identify ideal site for injecting the drug depending upon the nature of drug and required action.
During the past few years, intradermal injections associated procedures and devices have undergone continuous innovations, and several novel technologies are incorporated in this segment for the advancement of this sector. The vaccination and diagnosis rates related to several complications have increased exponentially during the last decade, ultimately increasing the acceptance of intradermal injections.
Several organic and inorganic strategies are adopted by companies in the intradermal injection market.The organic strategies mainly include product launches and product approvals.
Further, inorganic growth strategies witnessed in the intradermal injection market are acquisitions, collaborations, and partnerships.These growth strategies allow the market players to expand their businesses and augment their geographic presence, thereby contributing to the overall growth of intradermal injection market.
Further, acquisition and partnership strategies help the market players strengthen their customer base and expand their product portfolios. A few of the noteworthy developments by key players in the intradermal injection market are listed below.
• In November 2021, NanoPass Technologies and Aesthetic Management Partners entered into an agreement to initiate the commercialization of NanoPass’s MicronJet 600 intradermal delivery device in the US.
• In August 2021, PharmaJet and Zydus Cadila received the Emergency Use Authorization (EUA) from the Drug Controller General of India (DCGI) for ZyCoV-D, the world’s first Plasmid DNA Vaccine for COVID-19. The vaccine, ZyCoV-D, is solely administered utilizing the PharmaJet Tropis Needle-free Injection System.
The World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and National Health and Wellness are among the primary and secondary sources referred while preparing the report on the intradermal injection market.
Read the full report: https://www.reportlinker.com/p06232564/?utm_source=GNW
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