IMARC Group, a leading market research company, has recently releases report titled “Vaccine Delivery Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global vaccine delivery devices market growth, share, size and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Vaccine Delivery Devices Market?
The global vaccine delivery devices market size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028.
What is Vaccine Delivery Devices?
Vaccine delivery devices refer to several engineered instruments that carry the vaccine into or throughout the body. Some of the commonly used products include syringes and jet injectors, and in terms of components, they can be categorized into nanoparticles, liposomes, microspheres, micellar, plant-derived viruses, etc. These vaccine delivery devices allow targeted delivery or control release of the biological substances that are developed to protect individuals from bacterial and virus illnesses by boosting the immune response of the body against the disease. Consequently, they are extensively utilized in hospitals, clinics, and other healthcare establishments across the globe.
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What are the growth prospects and trends in the vaccine delivery devices industry?
The increasing technological advancements and the development of electroporation and micro-needles are among the key factors driving the vaccine delivery devices market. In addition to this, the growing consumer inclination towards using needle-free delivery systems, owing to the reduced risk of needle stick injuries and enhanced vaccine immunogenicity, is further stimulating the market growth.
Moreover, the launch of various immunization programs by government bodies across countries aimed at preventing death and disabilities from vaccine-preventable diseases is acting as another significant growth-inducing factor. Apart from this, extensive investments by non-governmental organizations (NGOs) in numerous vaccination programs and campaigns are also positively influencing the global market.
Furthermore, the rising focus of key market players on introducing novel techniques that enhance the therapeutic value of vaccines by lowering toxicity, the expanding healthcare industry, and the ease of access to medical products and services are expected to bolster the vaccine delivery devices market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Device:
- Jet Injectors
Breakup by Route of Administration:
- Intramuscular Vaccination
- Intradermal Vaccination
- Subcutaneous Vaccination
Breakup by End User:
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
3M Company, Becton Dickinson and Company, Enesi Pharma Limited, Gerresheimer AG, INOVIO Pharmaceuticals, NanoPass, Panacea Biotec Pharma Limited (Panacea Biotec), Pharmajet Inc., Schott AG (Carl-Zeiss-Stiftung), Terumo Corporation and Vaxxas.
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