Vaccine Delivery Devices Market to Register a Healthy CAGR Growth through 2022
Published : 11 Aug 2017 Industry: Healthcare
Growing prevalence of medical diseases and infections is projected to rev up demand for vaccine devices in the healthcare sector. Manufacturers are increasingly witnessing demand for vaccine delivery devices due to increase in number of diabetic patients globally. Fact.MR has recently compiled a report, which reveals that the vaccine delivery devices market globally is projected to reflect an impressive CAGR over the forecast period, 2017 – 2022.
Factors Propelling Global Market Growth
Growing need for vaccination for treatment of various medical diseases and infections has led to an upsurge in demand for vaccine delivery devices globally. In a report published by the CDC, order to protect from diseases and infections such as meningitis, hepatitis A, and hepatitis B, and influenza immunization should be done during the birth, adolescence and adulthood period.
Increasing prevalence of type 1 diabetes and type 2 diabetes among the adult and geriatric population has led to a surge in demand for the vaccine delivery devices in the healthcare sector. Type 2 diabetic patients are prescribed insulin doses such as Lantus and Novorapid by the healthcare professionals. Increasing use of insulin among diabetic patients has led to surge in demand for vaccine devices globally. These factors are expected to contribute towards the global market growth of vaccine delivery devices significantly during the projected period.
Moreover, healthcare manufacturers are increasingly integrating enhanced technology to offer painless vaccine delivery devices. Recently published news update, a new device known as ‘Microneedle Patches’ is developed, which has needle-free attributes and injects a dose of vaccine within fraction of seconds. These factors are projected to impact the global market growth of vaccine delivery device positively throughout 2022.
Syringes to Represent a Leading Segment
Intramuscular vaccine among other routes of administration is projected to represent a relatively high growth in terms of revenue in the global market of vaccine delivery devices. This segment will represent more than US$ 1,000 Mn by 2022 – end. The intramuscular vaccine is projected to reflect a relatively high CAGR as compared to other routes of administration in the global market of vaccine delivery devices during the predicted period. In terms of revenue, subcutaneous is projected to represent a significant growth after the intramuscular segment throughout 2022. This segment will reflect a significant CAGR after intramuscular segment in the global market during the projected period.
Syringes among other products is projected to reflect a relatively high CAGR in the global market of vaccine delivery devices throughout 2022. In terms of revenue, this segment will represent a relatively high growth in the market globally. This segment will represent more than US$ 900 Mn in 2017. North America among other regions is projected to represent the major market for vaccine delivery devices in the global market. Jet devices is projected to represent a significant growth after syringes in the global market of vaccine delivery devices by the end of 2022.
Leading players in the global market of vaccine delivery devices are PharmaJet, Inc, Becton Dickinson & Company, Vaxxas Pty. Ltd, Valeritas Holdings, Inc, Schott AG, Gerresheimer AG, 3M Company, and Antares Pharma, Inc.