Vaccine Delivery Devices Market
Vaccine Delivery Device Market Analysis Report By Product (Syringe Based Vaccine Delivery Devices, Jet Injector Based Vaccine Delivery Devices), By Route of Administration (Subcutaneous, Intramuscular, Intradermal Vaccine Delivery Devices), By Region - Global Insights 2022-2032
Analysis of Vaccine Delivery Devices market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Global Vaccine Delivery Devices Market Outlook (2022-2032)
The market for vaccine delivery systems was valued at US$ 3.81 Bn in 2021, and is likely to reach US$ 4.14 Bn by 2022-end, representing a Y-o-Y increase of 8.6%. Overall, the industry is forecast to reach US$ 10.25 Bn by 2032, experiencing a CAGR of 9.5% across the 2022-2032 assessment period.
Documented Market Value for 2021
US$ 3.81 Bn
Estimated Market Value by 2022
US$ 4.14 Bn
Forecasted Market Value by 2032
US$ 10.25 Bn
Expected Value CAGR (2022-2032)
Projected Value of Intramuscular Vaccine Route of Administration Segment by 2022
US$ 1 Bn
Key Players of the Global Vaccine Delivery Devices Market
With the growing government support across the globe about the current situation of the pandemic, the market is anticipated to augment at a rapid pace during the forecast period.
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Global Vaccine Delivery Devices Market Analysis from 2017-2021 Vs Future Market Outlook for 2022-2032
According to Fact.MR- market research and competitive intelligence provider- sales of vaccine delivery devices increased at a CAGR of 8% from 2017-2021. Growth is largely attributed to an increase in the need for fast paced treatments for a range of chronic and infectious ailments.
The market is likely to gain momentum in the forecast period from 2022-2032 owing to the increased demand for vaccine delivery devices in the healthcare sector for various treatments such as; influenza, hepatitis A and B, and meningitis.
Besides, the outbreak of COVID-19 has brought a positive impact on the market. The demand for COVID-19 vaccine across the globe posed a significant opportunity for expansion, thereby benefitting the market considerably. During the forecast period, the market is scheduled to surge at a CAGR of 9.5%.
What are the Factors Boosting the Global Vaccine Delivery Devices Market?
Growing Immunization Programs to Bolster the Market
The market is primarily driven by the increasing immunization programs, growing vaccination initiatives & campaigns, and the rising incidences of diseases across the globe. For instance, the GAVI Alliance, Bill & Melinda Gates Foundation take active participation in the vaccination drives, which is expected to strengthen the industry significantly.
The rising financial support by the government and the non-government organizations has brought various developments in the field, thereby bolstering the market size. For instance, the UK government funded £1 million from its Global Challenges Research Fund through Medical Research Council to probe the Zika Virus transmission and its source.
Furthermore, the number of diabetic patients is rising across the world. As per WHO, 422 million people worldwide suffer from the disease, which is projected to boost the market in the forecast period.
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How is the Adoption of Needle-Free Approach Boosting the Market?
Growing Demand for Pain-Free Needles to Boost the Vaccine Delivery Devices Market
The increasing demand for needle-free products to avoid pain and injuries associated with vaccination is expected to boost the industry in the forecast period. As per the data of the Centers for Disease Control and Prevention, nearly 385,000 injuries, inclusive of needle-caused injuries occur annually in the US.
The increasing initiatives to advance vaccine delivery devices are expected to augment the industry growth in the predicted period. For instance, the development of ‘Microneedle Patches’, which is a needle-free injector and electroporation is projected to spur the demand for vaccine delivery devices in the forecast period.
Why is North America Expected to Garner the Largest Market Share?
High Awareness Regarding Immunizations to Bolster the Market in Region
According to Fact. MR, North America is anticipated to be the largest market for vaccine delivery devices market globally. The rapid development in the healthcare sector and high awareness regarding the benefits of immunization are predicted to drive the market in the region.
Moreover, the increasing investment in R&D to bring innovations in vaccine devices is also likely to grow the market in the region. In addition, the presence of key players in the region further boosts the market expansion significantly. A CAGR of 10% is projected for the North American market.
Why is APEJ Predicted to be the Fastest-Growing Region?
Contribution of Developing Nations to Increase Demand for Vaccine Delivery Devices
APEJ is projected to be the fastest-growing region owing to the increasing patient pool. The presence of developing nations such as; India and China is projected to further boost the market in the region.
Moreover, the unmet vaccine demand in the untapped regions is predicted to augment the industry in APEJ in the coming time. Also, the rising geriatric population in the region can notably boost the demand for vaccination, thereby bolstering the market in APEJ. The region is forecast to grow at a CAGR of 12% through 2032.
What is the Contribution of Intramuscular Vaccine in Developing the Market?
Faster Absorption of the drug in Intramuscular Vaccines to Boost the Demand for Vaccine Delivery Devices
As per the analysis at Fact. MR, the intramuscular vaccine route of administration is anticipated to procure the maximum market share while procuring a market value of about US$ 1,000 Mn by the end of 2022.
The segment is predicted to expand at the highest CAGR in the coming time. The rapid and uniform absorption of the drug is expected to be the key factor driving the market in the coming time. Further, the rapid onset of the action against the oral and the subcutaneous routes has been identified as another potential cause bolstering the market in the forecast period.
Why are Syringes Likely to Witness the Maximum Growth?
Increased Immunization Coverage to Elevate the Segment’s Growth
According to the evaluations, the syringe segment is projected to witness the maximum revenue growth in the global vaccine delivery devices market. The segment is likely to have acquired a market value of US$ 900 Mn. The development in the segment can be attributed to the increased vaccination programs across the globe.
With the growing immunization coverage across the globe owing to the spread of pandemics, the segment is likely to show a healthy expansion in the coming time. In addition, the ongoing technical development in the field of syringes is projected to boost the market significantly.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
The key players of the global vaccine delivery devices market adopt strategies such as; collaboration, partnership, and acquisitions. The players make a significant investment to develop their products and also invest in R&D, which gives an upper hand to them against their competitors and helps in expanding their footprint in the global market. Some of the recent developments among the key players are:
- In April 2020, Zealand Pharma acquired Valeritas Holdings, a U.S based medical company for a price of USD 23 Mn.
- In November 2021, Gerresheimar entered into a partnership with Midas Pharma for a new auto injector. The partnership comprises of the development and marketing of new generation auto injector.
- In August 2021, the Vaccine developer Serum Institute of India acquired a 50% stake in pharma packaging company Schott Kaisha for an amount that was not disclosed. Schott AG is a Germany-based player that manufactures vials, syringes, and cartridges.
Key Market Segments Covered in Global Vaccine Delivery Market
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
- FAQs -
By 2022, vaccine delivery devices demand is likely to be valued at US$ 4.14 Bn
From 2017 to 2021, vaccine delivery devices sales surged at a CAGR of 8%, according to Fact.MR
As of 2032, the market for vaccine delivery devices is expected to reach US$ 10.25 Bn
According to Fact.MR, the vaccine delivery devices industry is projected to expand at a CAGR of 9.5% from 2022-2032
North America is projected to register a value CAGR worth 10% with respect to vaccine delivery devices sales
In APEJ, vaccine delivery devices sales are expected to flourish at a 12% CAGR through 2032
Intramuscular vaccine delivery devices will be the most opportunistic, accumulating US$ 1 Bn by 2022 end
Syringes are expected to be the most selling, accumulating a value of US$ 900 Mn