Novel Vaccine Delivery System Market worth USD 9306.1 million by 2027
The Market Statsville Group (MSG) publishes the new report on the "Novel Vaccine Delivery System Market by Delivery Mode (Intradermal, Subcutaneous, Intramuscular, and Other), by Device (Syringe, Needle-free injection System, and Others), by Region – Global Share and Forecast to 2027". The global novel vaccine delivery system market size is expected to grow from USD 5,029.6 million in 2020 to USD 9306.1 million by 2027, at a CAGR of 10.8% during the forecast period. The development of novel vaccines using various approaches includes structure-based immunogen design, gene-based vaccine platforms, and recombinant antigens with potent adjuvants, which are expected to drive market growth during the forecast period significantly. These technologies are producing encouraging results in the development of vaccines for globally important diseases such as tuberculosis, influenza and respiratory syncytial virus, and novel coronavirus, which boost the growth of novel vaccine delivery systems market during the forecast period. In addition, mRNA vaccines are a new type of vaccine to protect against infectious diseases such as COVID-19. It consists of synthetic mRNA strands encoding the SARS-CoV-2 Spike glycoprotein, packaged in lipid nanoparticles to deliver mRNA to cells.
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Global Novel Vaccine Delivery System Market Segmentation
The overall novel vaccine delivery system market has been segmented into the delivery mode, device, and region.
- By Delivery Mode (Intradermal, Subcutaneous, Intramuscular, and Other)
- By Device (Syringe, Needle-free injection System, and Others)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Syringe, by device, is estimated to hold the largest market share during the forecast period
On the basis of device, the novel vaccine delivery systems market is categorized into the syringe, needle-free injection system, and others. In 2020, the syringe had the largest market revenue, with 55.3% of the market share. The syringe is a cylindrical medical device with a thin hollow needle attached to a tube and a plunger. Syringes extract fluids from the body or inject fluids into the body. Two types of syringes are available based on usage: disposable syringes and reusable syringes. Disposable syringes are widely used to inject drugs, vaccines or draw a blood sample from the body. In addition, disposable syringes are intended for single-use, which prevents sterilization.
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The growth of the global syringe market is driven by a rise in the incidence of chronic diseases and a surge in demand for vaccination & immunization. Additionally, rapid growth in the geriatric population and demand for injectable drugs accelerate the market growth. The Occupational Safety and Health Administration estimates that approximately 5.6 million healthcare professionals were susceptible to blood-borne diseases in 2014, owing to the rise in prevalence of needlestick and other sharps object injuries.
North America accounts for the largest market share in novel vaccine delivery system market 2020
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. In 2020, North America accounted for the highest market share of 36.8% in the global novel vaccine delivery system market and was anticipated to maintain its dominance throughout the forecast period. The three major countries of North America considered in the report include the U.S., Canada, and Mexico. The U.S. was the largest revenue contributor in North America in 2020 and is a mature market. The rising incidence of several chronic illnesses and disorders, such as polio, measles, and influenza, is driving demand for vaccination and contributes toward the growth of the novel vaccine delivery system in this region.
The Centers for Disease Control and Prevention (CDC) stated that between October 1, 2019, and April 4, 2020, about 39,000,000 to 56,000,000 flu infections were reported in the U.S., with 24,000 to 62,000 flu fatalities. In addition, well-established healthcare infrastructure, higher buying power, higher healthcare expenditure levels, and stringency of regulations are some factors that drive the growth of the novel vaccine delivery system market in this region. Furthermore, every year the Centers for Disease Control and Prevention (CDC) publishes a revised schedule for vaccinations recommended to prevent several diseases in America, which is expected to create beneficial opportunities for a novel vaccine delivery system market. Likewise, the number of COVID-19 infections is estimated to positively impact the growth of the novel vaccine delivery system market in the U.S, as several companies have promising vaccine candidates currently in their clinical trial phases 2 and 3.
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This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the novel vaccine delivery system market. It also consists of the profiles of leading companies such as Inovio Pharmaceuticals, Inc. (Bioject Medical Technologies), Becton Dickinson & Company, Altaris Capital Partners, LLC (Kindeva Drug Delivery), Gurnet Point Capital (Corium International Inc.), Gerresheimer AG, PharmaJet, Inc., Carl Zeiss Foundation (Schott AG), Retractable Technologies, Inc, VAXXAS Pty Ltd., and Terumo Corporation. These market players have focused on acquisitions and expansion to gain a larger market share in the novel vaccine delivery system market.
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