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Global Vaccine Administration Devices Market Analysis and Forecast

Posted on by darion

Dublin, May 27, 2024 (GLOBE NEWSWIRE) — The Global Vaccine Delivery Devices Market Analysis and Forecast 2024-2034 report has been added to ResearchAndMarkets.com offering.

The global vaccine delivery device market size was estimated at USD 6.94 billion in 2023 and is expected to reach USD 15.52 billion by 2034, at a CAGR of 7.59% during the forecast period 2024-2034.

Increasing vaccination efforts, accelerating the development of innovative vaccines, increasing awareness campaigns and projects, expanding vaccine research, increased government investment in research, growing advances in technology for effective vaccine distribution, increased enthusiasm among key stakeholders and international bodies in pioneering delivery methods, rapid increase in new device launches and increasing approvals for innovative vaccine delivery devices are some of the key factors driving the market growth.

By devices, syringes were the highest revenue segment in the global vaccine administration devices market in 2023 due to growing demand for innovative and technologically advanced single-use syringes, expansion of vaccination initiatives, and increasing number of new product launches. For example, in September 2022, Becton, Dickinson and Company announced BD Effivax, an advanced glass prefilled syringe (PFS) that sets a higher standard for vaccine PFS performance. This innovation introduces more stringent criteria for processability, appearance, contamination prevention and integrity, setting a new benchmark in the field. Additionally, jet injectors are expected to grow at the fastest CAGR over the forecast period due to the growing interest in needleless devices, with key industry players increasingly focusing on this technology. Jet injectors, which eliminate the need to use needles, are a painless alternative to surgery.

In terms of route of administration, intradermal vaccination was the highest revenue-generating segment in the global vaccine delivery device market in 2023 due to a surge in research into alternative intradermal delivery methods using innovative devices such as microneedles and jet injectors, increase in partnerships and cooperation between industry stakeholders. For example, in September 2023, SK Biosciences and Vaxxas entered into a development collaboration to create a needle-free method for administering typhoid vaccine patches. Moreover, intramuscular vaccinations are expected to grow at the fastest CAGR during the forecast period due to the rapid and steady absorption of drugs. Most vaccines are usually administered intramuscularly, which minimizes adverse reactions at the injection site.

According to end-users, hospital was the highest revenue-generating segment in the global vaccine administration devices market in 2023 due to the high utilization of vaccine delivery systems in hospitals and increasing demand for more sophisticated vaccine administration devices. Additionally, clinics are expected to accelerate the market growth during the forecast period due to the increasing prevalence of chronic diseases among patients and the surge in collaborations among industry leaders. For example, in January 2022, Pfizer Inc. and Acuitas Therapeutics have entered into a strategic partnership agreement to jointly develop a lipid nanoparticle delivery system tailored for mRNA vaccines and therapeutics. The collaboration aims to leverage the combined expertise of both entities to improve the efficiency and effectiveness of mRNA-based therapies and vaccines.

The North America region is expected to account for the highest revenue share during the forecast period due to rising vaccination rates, increasing funding for research and development of new vaccines, increased awareness among both the public and health care providers, increasing emphasis on research and vaccine development and increasing advances in product innovation. For example, in March 2023, PharmaJet announced the launch of a study in the country to evaluate the effects of intradermal vaccine delivery using the Tropis ID Needleless Injection System (NFIS).

Additionally, CAGR is expected to grow at the fastest rate in Europe over the forecast period due to the rising incidence of infectious diseases, rapid development of technological infrastructure, growing awareness of the benefits of vaccinations and growing partnerships among industry players. For example, in June 2023, CEPI, the Coalition for Epidemic Preparedness Innovations, and aVaxziPen Ltd, a biotechnology company developing an innovative needle-free vaccine delivery platform, announced a collaboration to accelerate progress on two vaccine candidates (one protein-based and one based on mRNA). These vaccines will be developed using aVaxziPen’s fixed-dose vaccine delivery platform, potentially eliminating the requirement for frozen storage of vaccines and ultimately improving equitable access to vaccines.

Scope of research

  • Market forecast by type, material, product and end user
  • Market forecast for 5 regions and over 17 countries
    • North America (USA and Canada)
    • Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
    • Asia Pacific (China, Japan, India, Australia, South Korea, rest of APAC)
    • Latin America (Brazil, Mexico, Argentina, rest of Latin America)
    • MEA (South Africa, GCC, rest of MEA)
  • Company profiles of 10+ major market players
    • Becton Dickinson & Company
    • B. Braun Melsungen AG
    • Enesi Pharma
    • Vaccinations
    • Mystic Pharmaceuticals Inc
    • Gerresheimer AG
    • Terum company
    • SCHOTT AG
    • 3M
    • PharmaJet
    • Zhejiang Longde Pharmaceutical Co. Ltd
    • Bioject Medical Technologies Inc. (Inovio Pharmaceutical Inc.)
    • Corium International Inc.
    • Hindustan Syringes and Medical Devices Ltd

Key Features:

Report attribute Details
number of pages 200
Forecast period 2023 – 2034
Estimated market value (USD) in 2023 $6.94 billion
Projected market value (USD) until 2034 $15.52 billion
Compound annual growth rate 7.5%
Regions covered Global

More information about this report can be found at https://www.researchandmarkets.com/r/igotff

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  • Global Vaccine Administration Devices Market