PORTLAND, IA, UNITED STATES, December 9, 2024 /EINPresswire.com/ -- 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.

the global Novel Vaccine Delivery System Market was accounted for $5.03 billion in 2020, and is estimated to reach $14.43 billion by 2030, growing at a CAGR of 10.8% from 2021 to 2030.

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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.

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.

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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On the basis of device, the syringe segment held the lion’s share in 2020, contributing to more than half of the market. However, the needle-free injections segment is estimated to portray the highest CAGR of 11.3% from 2021 to 2030.

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 such as 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, and VAXXAS Pty Ltd.

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.

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