COVID-19 Vaccine Delivery Devices Market Value Anticipated To Reach US$ 6,853.5 Million By 2027: Acumen Research And Consulting
Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “COVID-19 Vaccine Delivery Devices Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, May 11, 2021 (GLOBE NEWSWIRE) -- The Global COVID-19 Vaccine Delivery Devices Market is expected to grow at a CAGR of around 7.3% from 2020 to 2027 and reach the market value of over US$ 6,853.5 Mn by 2027.
North America controls the majority of the market. The market has grown due to well-developed healthcare infrastructure and a high level of public awareness about vaccines. Furthermore, increased R&D investments for new vaccine innovations are contributing to market growth.
The Asia-Pacific region, on the other hand, is expected to be the fastest growing region. The expansion can be attributed to a large patient pool and high unmet vaccine needs, as well as the region's improving infrastructure. Many governments around the world are increasing vaccination spending and demonstrating strong and effective leadership and ownership of immunization program vaccine-preventable diseases are major causes of illness and long-term disability in developing countries. Increasing funding, emerging vaccine manufacturers in developing regions, the presence of key players, and increased efforts to promote vaccine use in middle- and low-income countries are expected to drive growth in developing countries.
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Market Dynamics
Needle-free delivery systems are expected to drive the growth of the vaccine delivery devices market because they have the potential to reduce the dose of the vaccine antigen while also increasing vaccine immunogenicity. Furthermore, the rapid advancement of technology in vaccine delivery systems such as micro-needles and electroporation is expected to drive market growth. Factors such as vaccines delivered through micro-needles into the dermis, which have a faster effect than intramuscular injections, contribute to market growth. Certain constraints and challenges will impede the overall growth of the COVID-19 vaccine delivery devices market. The cost of micro-needles is quite high, so individuals, particularly in developing countries, are less likely to afford them, and this is one of the major factors limiting the market growth.
Segmental Analysis
The global COVID-19 vaccine delivery devices market is segmented based on devices and route of administration. The devices are segmented as syringes, jet injectors, and others. By route of administration, the market is segregated as intradermal vaccination, intramuscular vaccination, subcutaneous vaccination, and other vaccinations.
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Syringes will have a significant market share in the global COVID-19 vaccine delivery devices market. In terms of device segment, the syringes segment had the largest share. Vaccines are commonly administered using syringes. Syringes are commonly used in routine immunization and mass vaccination program due to their low cost and effectiveness, which contributes to the segment's growth. In terms of route of administration, the intramuscular injection segment will dominate the global COVID-19 vaccine delivery devices market. Vaccines delivered via intramuscular injection are delivered deep within the muscular tissues. Furthermore, intramuscular administration reduces unwanted and severe reactions at the injection site.
Some of the leading competitors are Becton Dickinson & Company, Bioject Medical Technologies, Inc. (Inovio Pharmaceutical Inc.), PharmaJet, Vaxxas, Gerresheimer AG, SCHOTT AG, Corium International, Inc., 3M, and among others.
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Some of the key observations regarding the COVID-19 vaccine delivery devices industry include:
In July 2020, Becton Dickinson & Company announced the receipt of a large pandemic order from the U.K. government for 65 million needles and syringes to be delivered by mid-September 2020 to support the U.K. vaccination effort for COVID-19. The first shipments of the injection devices arrived in the U.K. on June 18 and provide the first element of the government's COVID-19 and flu response plan.
In April 2021, PharmaJet announced a new product launching namely, "Tropis® Needle-free device". The Tropis® Needle-free device is being used in multiple COVID-19 DNA vaccine development programs in partnership with Zydus Cadila, BioNet Asia, GeneOne Life Science, and the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID), among others. Tropis system was safe and elicited a strong immunogenic response.
In October 2020, Vaxxas announced receiving US$22 million) through the Biomedical Advanced Research and Development Authority (BARDA) to support the pandemic deployment of their high-density micro-array patch (HD-MAP). The initial focus will be on a pandemic influenza vaccine but Vaxxas will also investigate opportunities to improve the performance of other pandemic vaccines including against COVID-19.
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