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Novel Vaccine Delivery System Market Growing to Boost Growth 2030

The global novel vaccine delivery systems market size was valued at USD 5,029.6 million in 2020 and is projected to reach USD 9,306.1 million by 2027 and register a CAGR of 10.8% from 2021 to 2027. Vaccines, often known as immunizations, involve injecting a weakened version of a pathogen into a person to stimulate the body’s production of antibodies or immunity against the sickness. Because of successful vaccines, several diseases with high fatality rates, such as polio and smallpox, have been eradicated. Vaccinations are employed in various regional disease-prevention programs since they play a vital role in preserving people’s long-term health in diverse countries. The prevalence of viral and bacterial infectious infections has grown in recent years, increasing the demand for vaccines. Vaccines are primarily delivered to people of all ages to improve their immune systems and provide protection against various infectious illnesses. The phrase “novel vaccine delivery” refers to techniques utilized to safely administer an active medicinal component into the body.

Growing vaccination programs and their rising coverage, increased government funding for different immunization programs, and investment in R&D to produce new vaccines are the major factors driving the innovative vaccine delivery systems market growth. In addition, the development of novel vaccines for treating various diseases further boosts the market’s growth. However, the high cost and unaffordability of safety syringes and alternative modes of drug delivery restrain the market’s growth. In contrast, the rise in the need for safety syringes in emerging economies and FDA approval to COVID 19 Vaccine create lucrative opportunities for the novel vaccine delivery system.

COVID–19 Impact on the Global Novel Vaccine Delivery System Market

Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan, China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. After its discovery in Wuhan, the disease has rapidly spread to other parts of the globe. Moreover, this virus causes various symptoms in a patient, ranging from common symptoms to serious symptoms. For instance, the common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty breathing or shortness of breath, chest pain or pressure, and loss of speech or movement.

Furthermore, the virus has a significant fatality potential in the elderly population. The World Health Organization determined that COVID-19 might be classified as a pandemic on March 11, 2020. In contrast, there are presently no approved medications for the treatment or prevention of COVID-19. As a result, social distance is seen as the most crucial tool for halting the development of this disease. Furthermore, numerous governments have implemented statewide lockdowns to preserve social distance.

The COVID-19 outbreak has disrupted workflows in the health care sector worldwide. The sickness has led various sectors, including several sub-domains of health care, to close their doors temporarily. However, there has been a beneficial consequence and increased demand for various medical services, including revolutionary vaccine delivery technologies such as a syringe-free injection method. Medical disposables such as syringes and needles are essential for corona vaccine distribution; the pandemic is predicted to boost the smart syringe industry in the coming months.

Global Novel Vaccine Delivery System Market Dynamics Drivers: Growing immunization programs & their increasing coverage

Immunization is the process of strengthening an individual’s immune system against a specific agent (known as the immunogen). An increase in immunization programs for various diseases eventually boosts the market growth of novel vaccine delivery systems. The WHO lists 29 diseases (excluding COVID-19) for which vaccines are available: Cholera, COVID-19 (emergency use WHO list), Dengue fever, Diphtheria, Ebolavirus, Haemophilus influenzae type b, Hepatitis A, Hepatitis B, Hepatitis E, Human papillomavirus infection, Influenza, Japanese encephalitis, Malaria, Measles, Meningococcal disease, Mumps, Pneumococcal disease, Pertussis, Poliomyelitis, Rabies, Rotavirus gastroenteritis, Rubella, Tetanus, Tick-borne encephalitis, Tuberculosis, Typhoid fever, Yellow fever, Shingles (Herpes Zoster).

Moreover, various immunization programs for covid-19 vaccines are performed across the globe to treat recently occurred novel coronavirus. According to World in Data, as of June 19, 2021, 21.5% of the world population has received at least one dose of a COVID-19 vaccine globally. At least 211 countries and territories have administered more than 2 billion doses of a Covid-19 vaccine. Thus, growing immunization programs & their increasing coverage also increase the adoption of novel vaccine delivery products and boost the market’s growth.

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Restraints: High cost and unaffordability of safety syringes

The high cost of smart syringes compared to conventional syringes hinders their adoption across the globe. Some models are similar in cost to standard single-use syringes. In contrast, depending on the technical complexity of the safety mechanism, others are up to five times the cost, which is prohibitive in some low- and middle-income countries.

Moreover, the high capital expenditure required for producing and maintaining a few safety syringes and fluctuations in cost depending upon technologically advanced syringes also limit the market growth. However, owing to continuous technological advancements and an increase in the number of smart syringes companies, the impact of this factor is expected to decrease during the analysis period.

Opportunities: Rise in need for safety syringes in emerging economies

Emerging economies of Asia-Pacific, the Middle & East, and Africa serve as lucrative regions for smart syringes. An increase in needlestick injuries and a surge in the transmission rate of HIV and hepatitis have led to slower adoption of conventional syringes. Moreover, the adoption rate of smart syringes is escalating considerably, owing to an increase in the need for safer injection methods. In addition, awareness programs conducted by the WHO on risks and threats of unsafe injections have significantly impacted the demand for smart syringes in countries such as India, China, Africa, Turkey, and Indonesia.

On the contrary, the buying power is low in developing countries, owing to unfavorable or low reimbursement rates for using smart syringes. However, by 2025, the impact of this factor is expected to decrease, owing to the availability of enhanced healthcare facilities and an increase in buying power of individuals. Furthermore, a surge in supply or production of smart syringes at affordable prices is anticipated to aid in a massive decline in accidental needlestick injuries, propelling market growth in emerging economies.

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Scope of the Novel Vaccine Delivery System Market Report

The study categorizes the novel vaccine delivery system market based on delivery mode and device at the regional and global levels.

By Delivery Mode Outlook (Volume, Thousand Units, Revenue, USD Million, 2017–2027)
  • Intradermal
  • Subcutaneous
  • Intramuscular
  • Other
By Device Outlook (Volume, Thousand Units, Revenue, USD Million, 2017–2027)
  • Syringe
  • Needle-free injection System
  • Others
By Region Outlook (Volume, Thousand Units, Revenue, USD Million, 2017–2027)
  • North America (US, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
  • The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The intramuscular segment is projected to account for the largest market share by delivery mode

On the basis of delivery mode, the novel vaccine delivery systems market is categorized into intradermal,  subcutaneous, intramuscular, and other. In 2020, the intramuscular segment accounted for the largest market share of 64.4% in the global novel vaccine delivery system market. Solid waste includes residential, commercial, and municipal waste. An intramuscular injector is used to deliver medications deep into the muscles. Presently, intramuscular injectors are used in modern medicine to enable quick absorption of medication in the bloodstream. Generally, these injectors are used to deliver vaccines and drugs. Additionally, these are highly preferred to other drug delivery routes for quick treatment, as muscle tissues have a higher blood supply than the tissues present under the skin, and muscles can hold a high volume of medication. It is used for mass immunization using DNA vaccines and for the vaccination in cancer and other infectious diseases.

The growth of this segment is primarily driven by advantages given by the intramuscular method in terms of vaccine administration and technical advances. For instance, in February 2020, Seqirus received U.S. Food and Drug Administration (FDA) approval for AUDENZ (Influenza A (H5N1) Monovalent Vaccine, Adjuvant) to help protect individuals six months of age and older against influenza A (H5N1). It is a monovalent adjuvant vaccine injectable emulsion for intramuscular use. Moreover, an increase in preference for vaccines given intramuscularly boosts this segment’s market growth.

Asia Pacific accounts for the highest CAGR during the forecast period. 

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Based on the regions, the global novel vaccine delivery system market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 12.4% in the global novel vaccine delivery system market during the forecast period. The market growth in this region is attributable to the large patient pool, rise in healthcare expenditure, growth in disposable income, increase in healthcare awareness, and rise in government spending. Additionally, the increasing prevalence of chronic disorders such as hepatitis B, tuberculosis, Nipah virus, norovirus, and growing immunization programs & their increasing coverage in Asia-Pacific are expected to exhibit the fastest market growth during the forecast period.

Asia-Pacific is expected to exhibit the fastest market growth during the forecast period. Due to constantly expanding healthcare infrastructure, economic development is projected to drive the growth of the novel vaccine delivery systems market in emerging countries in Asia-Pacific. In addition, Asia-Pacific is the most populous region across the globe. An increase in population is further anticipated to proliferate increased consumption of vaccines, ultimately driving the market growth.

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Key Market Players

Every company follows its business strategy to attain the maximum market share. Currently, Becton Dickinson & Company, Altaris Capital Partners, LLC (Kindeva Drug Delivery), Inovio Pharmaceuticals, Inc. (Bioject Medical Technologies), Gurnet Point Capital (Corium International Inc.), Gerresheimer AG, PharmaJet, Inc., Carl Zeiss Foundation (Schott AG), Retractable Technologies, Inc, Terumo Corporation, and VAXXAS Pty Ltd are some of the leading players operating in the global novel vaccine delivery system market

 


on June 24 at 1:55

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