Market Size of Global Vaccine Delivery Devices Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 5.81 Billion |
Market Size (2029) | USD 8.11 Billion |
CAGR (2024 - 2029) | 6.89 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Vaccine Delivery Devices Market Analysis
The Global Vaccine Delivery Devices Market size is estimated at USD 5.81 billion in 2024, and is expected to reach USD 8.11 billion by 2029, growing at a CAGR of 6.89% during the forecast period (2024-2029).
The COVID-19 pandemic had a substantial impact on the vaccine delivery device market. Initially, the market was hampered due to limited production and disruption in the supply chain following strict regulations by governments worldwide. However, the market continued to grow during the pandemic's later phases. As COVID-19 infection continued to spread across the communities to a global level vigorously, the demand for an effective vaccine and permanent cure for the disease increased. This further fueled the demand for the availability of novel vaccine delivery devices, hence driving the market's growth.
Additionally, vigorous vaccination campaigns and government initiatives accelerated the availability of vaccine delivery devices globally. For instance, in April 2022, Pan American Health Organization (PAHO) called for a vaccination campaign to close the vaccination gap, including COVID-19 vaccination in the United States. Furthermore, according to a data sheet released by the WHO in November 2022, more than 16 billion vaccine doses worth USD 141,000 million (USD 41 billion) were supplied in 2021, which was almost 03 times higher than the market volume in previous years. This was primarily driven by COVID-19 vaccines. Thus, due to the increasing development of COVID-19 vaccines, the demand for vaccine delivery devices also increased. Thus, owing to the factors above, the COVID-19 pandemic potentially impacted the market studied and is expected to project the market toward growth over the forecast period.
Factors such as growing immunization programs and investment in vaccine research and development in novel drug delivery technologies are anticipated to fuel the segment growth over the forecast period of the study.
Vaccination or immunization is a global health and development program to save millions of lives. Vaccines work with the body's natural defense system to build protection and reduce the risks of getting a disease. With increasing awareness among the target population of improved health, the demand for vaccines and vaccinations is increasing worldwide. For instance, according to UNICEF's data updated in July 2022, along with its partners, UNICEF conducts immunization programs in almost half of the world. In more than 100 countries, UNICEF works with governments, the private sector, non-governmental organizations, and other United Nations (UN) agencies to engage communities, procure and distribute vaccines, and help ensure affordable access for even the hardest-to-reach families. Hence, the rise in activities related to vaccination is predicted to create a demand for the availability of vaccine-delivery devices, thereby garnering the growth of the market studied.
Furthermore, market players are engaged in strategic activities such as mergers and acquisitions and product launches to accelerate the availability of products in the market. For instance, in September 2022, the next-generation glass pre-fillable syringe (PFS) called BD Effivax was introduced by Becton, Dickin, son, and Company. The Company sets a new benchmark for performance for vaccine PFS with new and tighter criteria for processability, cosmetics, contamination, and integrity. In addition, in August 2021, the Drug Controller General of India (DCGI) approved the plasmid DNA Vaccine for COVID-19 called ZyCo, V-D, developed by Zydus Cadila. The vaccines are exclusively administered using the PharmaJet Tropis Needle-free jet Injection System. Thus, the availability of technologically advanced products is anticipated to fuel the market's growth during the forecast period.
Hence, growing immunization programs, investment in vaccine research, and the development of novel drug delivery technologies fuel the vaccine delivery devices market. However, the high cost of microneedles is expected to restrain the vaccine delivery devices market during the analysis period.
Vaccine Delivery Devices Industry Segmentation
As per the report's scope, vaccine delivery devices are devices intended to deliver the vaccine, a biological preparation that improves immunity to a particular disease. The Vaccine Delivery Devices Market is Segmented by Product Type (Syringes, Jet Injectors, and Other Product Types), End Users (Hospitals, Clinics, and Other End Users), Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Product Type | |
Syringes | |
Jet Injectors | |
Other Product Types |
By End-User | |
Hospitals | |
Clinics | |
Other End Users |
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Global Vaccine Delivery Devices Market Size Summary
The vaccine delivery devices market is poised for significant growth, driven by the increasing demand for effective vaccination solutions globally. The market experienced initial setbacks due to the COVID-19 pandemic, with disruptions in production and supply chains. However, the later phases of the pandemic saw a surge in demand for vaccine delivery devices, fueled by extensive vaccination campaigns and government initiatives. The development and distribution of COVID-19 vaccines played a crucial role in propelling the market forward, as the need for novel delivery devices became paramount. This trend is expected to continue, supported by ongoing immunization programs and investments in vaccine research and development, which are anticipated to further stimulate market expansion.
The market landscape is characterized by strategic activities such as mergers, acquisitions, and product launches, with key players introducing technologically advanced products to enhance vaccine delivery. Syringes, in particular, are expected to dominate the market segment due to their widespread use and benefits, including waste reduction and safety features like auto-disable mechanisms. North America is projected to hold a significant market share, bolstered by robust vaccine research and development activities, along with substantial investments and funding opportunities. The competitive environment is marked by the presence of several international and regional companies, all vying for a share of the growing market. As vaccination programs continue to expand and new technologies emerge, the vaccine delivery devices market is set to experience sustained growth over the forecast period.
Global Vaccine Delivery Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Immunization Program and Investment for Vaccine Research
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1.2.2 Development in Novel Drug Delivery Technologies
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1.3 Market Restraints
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1.3.1 High cost for micro needles
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product Type
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2.1.1 Syringes
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2.1.2 Jet Injectors
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2.1.3 Other Product Types
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2.2 By End-User
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2.2.1 Hospitals
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2.2.2 Clinics
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2.2.3 Other End Users
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Global Vaccine Delivery Devices Market Size FAQs
How big is the Global Vaccine Delivery Devices Market?
The Global Vaccine Delivery Devices Market size is expected to reach USD 5.81 billion in 2024 and grow at a CAGR of 6.89% to reach USD 8.11 billion by 2029.
What is the current Global Vaccine Delivery Devices Market size?
In 2024, the Global Vaccine Delivery Devices Market size is expected to reach USD 5.81 billion.