The vaccine delivery systems market was valued at US$ 3.81 billion in 2021, and is expected to reach US$ 4.14 billion by the end of 2022, reflecting an increase of 8.6% year over year. Overall, the industry is expected to reach US$ 10.25 billion by 2032, with a CAGR of 9.5% over the assessment period of 2022-2032.
Increased demand for vaccine delivery devices in the healthcare sector for various treatments such as influenza, hepatitis A and B, and meningitis is expected to propel the market forward during the projected period of 2022-2032.
Furthermore, the COVID-19 epidemic has had a favorable impact on the market. The global demand for COVID-19 vaccination provided a major chance for expansion, benefiting the market significantly.
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Increased immunization programs, burgeoning vaccine initiatives and campaigns, and rising illness rates around the world are driving the market. The GAVI Alliance and the Bill and Melinda Gates Foundation, for example, actively participate in vaccination drives, which is projected to considerably improve the business.
The growing financial backing from the government and non-governmental organizations has resulted in a slew of new advances in the field, boosting the market’s size. The UK government, for example, allocated £1 million from the Global Challenges Research Fund to the Medical Research Council to investigate Zika Virus transmission and source.
Furthermore, the number of diabetic patients worldwide is increasing. According to the World Health Organization, 422 million people globally are affected by the condition, which is expected to increase the market throughout the forecast period.
In the forecast period, rising initiatives to develop vaccine delivery devices are likely to boost market growth. In the projection period, the development of ‘Microneedle Patches,’ a needle-free injector with electroporation, is expected to boost demand for vaccine delivery devices.
“Increasing usage of vaccine delivery devices in the healthcare sector for the treatment of influenza, meningitis, and hepatitis A and B is anticipated to provide a significant boost to the market in the coming time. “ – says an analyst at Fact MR.
Key Takeaways:
- By product type, syringes segment are the most profitable, with a market value of US$ 900 million.
- By 2022, sales of intramuscular vaccination delivery devices are expected to surpass $1 billion.
- North America is expected to be a potential revenue center, growing at a 10% CAGR from 2022 to 2032. APEJ is expected to be the most promising market, growing at a 12 percent CAGR from 2022 to 2032.
- By the end of 2022, the global vaccine delivery device market is expected to be worth more than $4 billion.
Growth Drivers:
- Increasing need for fast paced treatments for a variety of chronic and infectious ailments is expected to stimulate the growth of vaccination delivery devices market.
- Rising number of diabetic patients all around the world is expected to propel the demand for vaccine delivery devices.
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Competitive Landscape
Collaboration, partnership, and acquisitions are common methods used by leading players in the worldwide vaccine delivery devices market. The players invest heavily in product development and research and development, giving them an advantage over their competitors and allowing them to increase their footprint in the worldwide market. The following are some of the most recent developments among the important players:
- In April 2020, Zealand Pharma paid USD 23 million for Valeritas Holdings, a medical firm situated in the United States.
- In November 2021, Gerresheimar partnered with Midas Pharma to develop a new auto injector. The collaboration will focus on the development and marketing of next-generation auto injectors.
Key Companies Profiled by Fact.MR are:
- Becton Dickinson & Company
- PharmaJet Inc.
- Valeritas Holdings Inc.
- Vaxxas Pty. Ltd
- Gerresheimer AG
- Schott AG
- Antares Pharma, Inc.
- 3M Company
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More Valuable Insights on Vaccine Delivery Devices Market
Fact.MR, in its new report, offers an unbiased analysis of the global vaccine delivery devices market, analyzing forecast statistics through 2022 and beyond. The survey reveals growth projections on vaccine delivery devices market with detailed segmentation:
- By Product Type
- Syringes-based Vaccine Delivery Devices
- Jet Injectors-based Vaccine Delivery Devices Market
- Other Vaccine Delivery Device Products
- By Route of Administration
- Subcutaneous Vaccine Delivery Devices
- Intramuscular Vaccine Delivery Devices
- Intradermal Vaccine Delivery Devices
- Other Vaccine Delivery Devices
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
Key Questions Covered in the Vaccine Delivery Devices Market Report
- The market survey also highlights projected sales growth for vaccine delivery devices market between 2021 and 2031
- The report offers insight into vaccine delivery devices demand outlook for forecast period 2021-2031
- Vaccine delivery devices market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Vaccine delivery devices market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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