Novel Vaccine Delivery System Market to Reach $14.43 Billion by 2030: Allied Market Research

·4 min read

Rise in government support and investment, development of novel vaccines, and growth in immunization programs & their increasing coverage drive the growth of the global novel vaccine delivery systems market. The market across North America held the lion’s share in 2020, accounting for more than one-third of the market. The Covid-19 pandemic severely disrupted the workflow in the healthcare industry. The outbreak forced several industries to shut down temporarily.

Portland, OR, July 30, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global Novel Vaccine Delivery System Market was accounted for $5.03 billion in 2020, and is estimated to reach $14.43 billion by 2030, growing at a CAGR of 10.8% from 2021 to 2030.

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Rise in government support and investment, development of novel vaccines, and growth in immunization programs & their increasing coverage drive the growth of the global novel vaccine delivery systems market. However, high cost and unaffordability of safety syringes and alternative modes of drug delivery hinder the market growth. On the contrary, FDA approval to Covid-19 vaccine and increase in need for safety syringes in emerging economies would open new opportunities for the market players in the coming years.

Covid-19 scenario:

  • The Covid-19 pandemic severely disrupted the workflow in the healthcare industry. The outbreak forced several industries to shut down temporarily.

  • However, the surge in demand for various medical services including novel vaccine delivery products increased during the pandemic. As the medical disposables including needles and syringes were in demand, several governments announced contracts to increase in manufacturing and supply of needs and syringes across the world.

The report divides the global novel vaccine delivery system market on the basis of delivery mode, device, and region.

Based on delivery mode, the intramuscular segment held the largest share in 2020, accounting for nearly two-thirds of the market. However, the subcutaneous segment is projected to manifest the highest CAGR of 12.3% during the forecast period.

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On the basis of device, the syringe segment held the lion’s share in 2020, contributing to more than half of the market. However, the needle-free injections segment is estimated to portray the highest CAGR of 11.3% from 2021 to 2030.

The global novel vaccine delivery system market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for more than one-third of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 12.4% during the forecast period.

The global novel vaccine delivery system market includes an in-depth analysis of the prime market players such as Becton, Dickinson, and Company, Altaris Capital Partners, LLC (Kindeva Drug Delivery), Gerresheimer AG, Carl Zeiss Foundation (Schott AG), Inovio Pharmaceuticals, Inc. (Bioject Medical Technologies), Gurnet Point Capital (Corium International Inc.), Retractable Technologies, Inc., PharmaJet, Inc., Terumo Corporation, and VAXXAS Pty Ltd.

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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.

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