Dublin, May 27, 2024 (GLOBE NEWSWIRE) -- The "Global Vaccine Delivery Devices Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global vaccine delivery devices market size was estimated to be USD 6.94 billion in 2023 and is expected to reach at USD 15.52 billion by 2034 with a CAGR of 7.59% during the forecast period 2024-2034.
The expansion of immunization efforts, uptick in the development of innovative vaccines, rise in awareness campaigns & projects, expanding vaccination research, heightened investment from governments in research, growing advancements in technology for effective vaccine distribution, increased enthusiasm from major stakeholders & international bodies in pioneering delivery methods, surge in the introduction of new devices, and rising authorization of innovative vaccine delivery devices are some of the key factors boosting the market growth. 
By device, syringes was the highest revenue-grossing segment in the global vaccine delivery devices market in 2023 owing to the increasing need for innovative & technologically advanced auto-disposable syringes, expanding vaccination initiatives, and rising new product launches. For instance, in September 2022, Becton, Dickinson, and Company unveiled BD Effivax, an advanced glass pre-fillable syringe (PFS) that establishes a higher standard for vaccine PFS performance. This innovation introduces stricter criteria for processability, appearance, contamination prevention, and integrity, setting a new benchmark in the field. Additionally, jet injectors is predicted to grow at the fastest CAGR during the forecast period owing to the growing inclination towards needle-free devices, with key industry players increasingly concentrating on this technology. Jet injectors, which eliminate the necessity for needles, offer a painless alternative for the procedure.
By route of administration, intradermal vaccination was the highest revenue-grossing segment in the global vaccine delivery devices market in 2023 owing to the surge in research into alternative methods for intradermal administration using innovative devices such as microneedles & jet injectors, an uptick in partnerships & collaborations among industry stakeholders. For instance, in September 2023, SK Biosciences and Vaxxas have formed a collaborative development partnership focused on creating a needle-free patch delivery method for the typhoid vaccine. Additionally, intramuscular vaccination is predicted to grow at the fastest CAGR during the forecast period owing to the rapid & consistent absorption of medication. Most vaccines are typically administered intramuscularly, a method which minimizes adverse reactions at the injection site.
By end-user, hospital was the highest revenue-grossing segment in the global vaccine delivery devices market in 2023 owing to the high utilization of vaccine delivery systems in hospital settings and growing demand for more sophisticated vaccine delivery devices. Additionally, clinics is predicted to boost the market growth during the forecast period owing to the increasing prevalence of chronic diseases among patients, and surge in collaborations among industry leaders. For instance, in January 2022, Pfizer Inc. and Acuitas Therapeutics have formed a strategic partnership agreement to jointly develop a lipid nanoparticle delivery system tailored for mRNA vaccines and therapeutics. The collaboration seeks to capitalize on the combined expertise of both entities to improve the delivery efficiency and efficacy of mRNA-based treatments and vaccines.
North America region is anticipated for the highest revenue share during the forecast period owing to the expanding immunization rates, rising R&D funding for novel vaccines, surge in awareness among both the public & healthcare providers, increasing emphasis on vaccine research & development, and rising advancements in product innovation. For instance, in March 2023, PharmaJet has announced the commencement of a study within the country to assess the effects of intradermal vaccine delivery utilizing their Tropis ID Needle-free Injection System (NFIS).
Additionally, Europe is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of infectious diseases, surge in technological infrastructure developments, rising awareness of vaccination benefits, and increasing partnerships among industry players. For instance, in June 2023, CEPI, the Coalition for Epidemic Preparedness Innovations, and aVaxziPen Ltd, a biotech firm creating an innovative needle-free vaccine delivery platform, have unveiled a collaboration to accelerate the progress of two vaccine candidates (one protein and one mRNA-based). These vaccines will be developed using aVaxziPen's solid dose vaccine delivery platform, potentially eliminating the requirement for vaccine storage in frozen conditions and consequently enhancing fair access to vaccines.
Study Coverage
- Market Forecast by Type, Material, Product, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. 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 LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Company Profiles of Top 10+ Major Market Players
- Becton Dickinson & Company
- B. Braun Melsungen AG
- Enesi Pharma
- Vaxxas
- Mystic Pharmaceuticals Inc
- Gerresheimer AG
- Terumo Corporation
- SCHOTT AG
- 3M
- PharmaJet
- Zhejiang Longde Pharmaceutical Co. Ltd
- Bioject Medical Technologies Inc. (Inovio Pharmaceutical Inc.)
- Corium International Inc.
- Hindustan Syringes & Medical Devices Ltd
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $6.94 Billion |
| Forecasted Market Value (USD) by 2034 | $15.52 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/igotff
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