Rise in government support and investment, development of novel vaccines, growth in immunization programs & their increasing coverage growth of the market

PORTLAND, OREGON, UNITED STATES, August 16, 2021 /EINPresswire.com/ -- Rise in government support and investment, development of novel vaccines, and growth in immunization programs & their increasing coverage drive the growth of the global novel vaccine delivery systems market. However, high cost and unaffordability of safety syringes and alternative modes of drug delivery hinder the market growth. On the contrary, FDA approval to Covid-19 vaccine and increase in need for safety syringes in emerging economies would open new opportunities for the market players in the coming years.

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.

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Growth of the novel vaccine delivery system market is driven by rise in immunization programs & their increasing coverage, increasing government support and investment, and development of novel vaccines. In addition, increase in need for safety syringes in emerging economies and FDA approval to COVID-19 Vaccine may create a lucrative opportunity in the market.

Covid-19 scenario:

The Covid-19 pandemic severely disrupted the workflow in the healthcare industry. The outbreak forced several industries to shut down temporarily.

However, the surge in demand for various medical services including novel vaccine delivery products increased during the pandemic. As the medical disposables including needles and syringes were in demand, several governments announced contracts to increase in manufacturing and supply of needs and syringes across the world.

The report divides the global novel vaccine delivery system market on the basis of delivery mode, device, and region.

Based on delivery mode, the intramuscular segment held the largest share in 2020, accounting for nearly two-thirds of the market. However, the subcutaneous segment is projected to manifest the highest CAGR of 12.3% during the forecast period.

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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 global novel vaccine delivery system market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the lion’s share in 2020, accounting for more than one-third of the market. However, the market across Asia-Pacific is anticipated to showcase the highest CAGR of 12.4% during the forecast period.

The global novel vaccine delivery system market includes an in-depth analysis of the prime market players:

Becton
Dickinson, and Company
Altaris Capital Partners
LLC (Kindeva Drug Delivery)
Gerresheimer AG
Carl Zeiss Foundation (Schott AG)
Inovio Pharmaceuticals, Inc. (Bioject Medical Technologies)
Gurnet Point Capital (Corium International Inc.)
Retractable Technologies, Inc.
PharmaJet, Inc.
Terumo Corporation
VAXXAS Pty Ltd.

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About Us:

Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Analytics LLP
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