Novel Vaccine Delivery Systems Market Expected to Reach $14.43 Billion by 2030

According to a new report published by Allied Market Research, titled, “Novel Vaccine Delivery Systems Market by Delivery Mode, Device: Global Opportunity Analysis and Industry Forecast, 2021–2030" the global novel vaccine delivery systems market size was valued at $5,030 million in 2020 and is projected to reach $14,437 million by 2030 registering a CAGR of 10.8% from 2021 to 2030.

A vaccine is a biological substance that gives active acquired immunity against a specific infectious illness. A vaccination usually comprises an agent that looks like a disease-causing germ and is manufactured from weakened or destroyed microbes, their toxins, or one of their surface proteins. The agent induces the body's immune system to detect and eliminate the agent as a threat as well as any linked bacteria that it may encounter in the future. Vaccines can be prophylactic or therapeutic. Novel vaccine delivery includes formulations, technologies, methods, and systems to transfer an active pharmaceutical ingredient in the body, as desired, in order to safely accomplish its therapeutic effect.

Growing immunization programs for various diseases such as polio, smallpox, COVID, hepatitis and among others & their increasing coverage are the major factors the boost the market growth. Furthermore, increasing government support for healthcare infrastructure improvements and robust research and development (R&D) initiatives to produce vaccine with enhanced therapeutic potential and reduced side effects further drive the growth of market. In addition, investment of government for immunization programs and development of novel vaccines using various novel approaches also driving the market forward. On the contrary, the market for novel vaccine delivery systems may be hampered by the high cost and unaffordability of safety syringes, as well as the availability of other drug administration methods during forecast year. However, increase in need for safety syringes in emerging economies and FDA approval to COVID-19 Vaccine may create a lucrative opportunity to the novel vaccine delivery systems market.

COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The COVID-19 pandemic has helped the industry grow significantly, as the demand for novel vaccine delivery system products such as syringe, needle-free injections has increased, as it helps to inject corona vaccine. Vaccinating an entire population may require approximately double the number of syringes as the COVID-19 vaccine might possibly require two doses. This supports the novel vaccine delivery system market to gain traction during the forecast period.

The novel vaccine delivery systems market is segmented on the basis of delivery mode, device, and region. By delivery mode, the market is segmented into intradermal, subcutaneous, intramuscular, and other.

The intramuscular segment dominates the global market in 2020 and is anticipated to continue this trend during the forecast period. Intramuscular vaccine delivery mode are widely adopted as they deliver medications deep into the muscle tissues, which absorbs the medication quickly.

On the basis of device, the market is segmented into syringe, needle-free injection system, and others. Syringe again classified into conventional syringe and smart syringe. Smart syringe again segmented into active safety syringes, passive safety syringes, and auto disable syringes. Needle-free injection system again classified into spring-based injector systems, gas propelled/air forced injector system, and others.

The syringe segment is expected to account for the largest revenue during forecast period. This is owing to the cost effectiveness of syringes and they are used in routine immunization and mass vaccination programs. Moreover, syringes are the most common device used in vaccine delivery.

Key Findings Of The Study

• Based on delivery mode, the intramuscular segment held largest share in the global novel vaccine delivery systems market in 2020.
• On the basis of device, the syringes segment held the largest novel vaccine delivery systems market share in 2020 and is expected to remain dominant throughout the forecast period.
• Based on region, North America is expected to experience growth at the highest rate, registering a CAGR of 9.8 % during the forecast period.

North America accounted for the largest share of the global novel vaccine delivery systems market in 2020, and is expected to remain dominant throughout the forecast period. This is majorly attributed to availability of advanced technology, rise in demand for advanced healthcare services with higher healthcare expenditure, and increase in cases of chronic diseases such as polio, measles, and influenza, hepatitis C virus (HCV), hepatitis B virus (HBV) in North America.