The global demand of vaccine delivery device market is forecast to showcase an impressive growth throughout the period 2017-2022. As per a study by Fact MR, the global vaccine delivery device market is estimated to cross the valuation of US $ 4000 Mn by the end of 2022. Rising geriatric population and increasing cases of diabetes among adults are key market growth factors. Growing problems associated with usage of reusable needles are motivating the market players towards developing innovative and optimum vaccine delivery products.
According to a report published by centers for disease control and prevention (CDC) consistent vaccination is necessary between the period of birth and adulthood to protect body from several infections and diseases like hepatitis A and B and influenza. Rising demand for mass vaccination will tremendously affect the vaccine delivery device demand.
“Rising experimentation on developing needle free vaccine delivery systems in order to enhance the immunology of vaccine and reduce dosage will amplify the market growth”, said a lead analyst at Fact.MR.
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Vaccine delivery devices market: Key Findings
Vaccine delivery devices market – Key Driving Factors
Vaccine delivery devices market – Key Restraints
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Vaccine delivery devices market – COVID-19 Impact
COVID-19 pandemic stressed the global healthcare system to the extreme. Search for effective vaccine across the global laboratories has further burdened the system. With raging pandemic, the demand for vaccine delivery devices is expected to increase during the forecast period. Heavy government investments for vaccine development and delivery devices especially for countries with sub-par medical infrastructure will further fuel the market growth.
Competitive Landscape
Some of the leading vaccine delivery device manufacturers are Valeritas Holdings, Inc, PharmaJet, Inc, Vaxxas Pty. Ltd, Antares Pharma, Becton Dickinson & Company, Gerresheimer AG, Schott AG, and 3M Company. Their main focus is developing new minimum pain vaccine delivery products to cater the rising demand. For instance, a new device called as micro-needle patches is in development phase reported by Center of Disease Control and Prevention (CDC). The specialty of the device is it injects the drugs in microsecond and it is needle free preventing cross contamination.
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