Global Vaccine Delivery Devices Market Overview
The key drivers impacting the vaccine delivery devices market are increasing research in the field of vaccination. The governments across the globe are supporting the development of novel vaccines through investment and funding. For instance, Canadian Institutes of Health Research Institute of Infection and Immunity spend around USD 1 million annually to support the research of hepatitis C. Also, 45.7 million U.S. dollar through partnerships for pandemic influenza research and USD 22.5 million is to support the CIHR HIV/AIDS Research Initiative. The institute majorly supports & funds research activities intending to minimize the burden of allergies, infectious diseases, and immune-mediated diseases. The institute invests around USD 1 million per year to support the research of hepatitis C, USD 45.7 million through partnerships for pandemic influenza research, and USD 22.5 million to support the CIHR HIV/AIDS Research Initiative. Moreover, growing Immunization coverage with financial support from several international organizations such as Bill & Melinda Gates Foundation, GAVI Alliance, Path, and others contributes to vaccine delivery devices market demand in the coming years.
According to Value Market Research, the global vaccine delivery devices market size was valued at about USD 4.54 billion in 2020 and is estimated to grow at a CAGR of around 7.5% during the forecast period 2021 to 2027.
The rising acceptance of needle-free techniques for directing vaccines in the human body due to growing awareness to evade injuries and pain connected with needle stick usage is likely to augment the need for vaccine delivery devices in the forecast period. For instance, Around 385,000 severe injuries containing needle-stick injuries occur annually in hospitals in the U.S. in accordance with the Centers for Disease Control & Prevention. However, high fuel cell installation and manufacturing costs hamper the market in the long run. In addition, the development of other types of fuel cells impedes market growth. Nevertheless, the market trends, rising adoption by end-users in data centers and the military sector might provide massive market opportunities to the market's key players.
The vaccine delivery devices market is widespread, with many local and international players. The market leaders follow diverse strategies to strengthen their market, such as extending product portfolio, acquisitions, contracts, amalgamation, product upgrades to raise their market share globally. The key players in the report are Bioject Medical Technologies, Inc., Becton Dickinson & Company, PharmaJet, Bioject Medical Technologies, Inc., Gerresheimer AG, Vaxxas, SCHOTT AG, 3M, and Corium International, Inc.
In this research report, the vaccine delivery devices market is segmented by devices, route of administration, and region.
Analysis by Devices:
By devices, the report is segmented into Syringes, Jet Injectors, and Others. The syringes segment dominates the devices segment with the highest share in 2020. It is because syringes are a majorly utilized device to administer vaccines and for routine immunization and mass vaccination programs as they are reasonably priced and effective. Moreover, the gaining popularity of Novel and technologically advanced syringes such as prefilled syringes and auto-disposable syringes is contributing to the syringes segment's growth in the forecast period.
Analysis by Route of Administration:
By route of administration, the report is segmented into intradermal vaccination, intramuscular vaccination, subcutaneous vaccination, and other vaccinations. The intramuscular segment dominates with the highest market share in 2020. It is because the vaccines are majorly administered through the intramuscular route. Also, this route of administration minimizes adverse reactions at the injection site. Moreover, Intramuscular injections are widely adopted as they can deliver medications deep inside muscle tissues, which leads to quick absorption, contributing to the growth of the intramuscular segment in the coming years.
Analysis by Region:
In the regional outlook of the global vaccine delivery devices market, the North America region dominates with the largest market share of 39% in 2020. It is due to the growing immunization coverage, increasing investments in R&D for new vaccines, and the high prevalence of infectious diseases. Moreover, the existence of advanced healthcare infrastructure and high awareness amongst the public as well as healthcare professionals contribute to the tremendous market growth across North America.
Market Segmentation covered in the Report:
By Devices
- Syringes
- Jet Injectors
- Others
By Route of Administration
- Intradermal Vaccination
- Intramuscular Vaccination
- Subcutaneous Vaccination
- Other Vaccinations
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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