06 January 2021
Visiongain has published a new report on Vaccine Delivery Devices Market Report 2021-2031: Forecasts by Device Type (Syringes, Jet Injectors, Micro Needles, Others), by Route of Administration (Intramuscular, Subcutaneous, Intradermal, Others), by Product (Disposable, Reusable), by End-User (Hospitals, Clinic, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Vaccine Delivery Devices Companies AND COVID-19 Recovery Scenarios.
Global vaccine delivery devices market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031. Growing demand for cost-effective drugs; rising prevalence of chronic diseases; mounting investment in drug R&D by biopharmaceutical companies; new product launches and rising acceptance of vaccine delivery devices in North America region are some of the major factors that propel the vaccine delivery devices market growth.
COVID-19 Impact on Vaccine Delivery Devices Market
The COVID-19 pandemic has a highly positive impact on the vaccine delivery devices market worldwide. There is a high demand for the COVID-19 vaccine worldwide due to the rising number of patients suffering from the infection. There are many leading companies that are investing a huge amount of money in the development of COVID-19 vaccine and vaccine delivery products including syringes and jet injectors.
Also, there are many government bodies that are funding vaccine delivery device companies for the development and manufacturing of COVID-19 vaccine delivery devices, which is projected to drive the market growth in 2021 and 2022 at a high pace.
Growing prevalence of rising prevalence of viral and infectious diseases including COVID-19, mounting investment in drug R&D by pharmaceutical and biopharmaceutical companies, technological advancements, government support, and developing healthcare infrastructure in emerging economies are the major drivers boosting the global vaccine delivery devices market. Medical device companies are investing huge amounts of money in R&D for the development of advanced vaccine delivery technologies and products.
There is a high demand for more efficient delivery technologies and products for the prevention of severe infectious and viral diseases. Also, there are several government organizations and campaigns that have increased the funding for the development of vaccines and delivery devices, which is projected to drive the market growth in the near future. In November 2020, BD announced that more than 800 million needles and syringes have been committed to date in support of COVID-19 vaccination programs across 12 countries and non-governmental organisations.
Shifting focus on adult vaccines and increasing number of vaccine awareness programs are major opportunities in the market. Furthermore, there will be greater demand for these vaccines from the population as their expectation of healthcare and standard of living increases. All of this will contribute to driving the expansion of the market.
The continuing development of the emerging countries will strengthen the global vaccine delivery devices market. As the emerging countries get richer they will be more able to ensure secure supply routes for their vaccines. This will increase the supply of vaccines within a country, fuelling the growth of the market. The sheer population of emerging markets like China and India along with the high prevalence of infectious diseases in developing countries will drive strong demand for vaccines from these countries.
Vaccine Delivery Devices market is a highly consolidated market with several global players. Some of the major players operating in the market are F Kindeva Drug Delivery; B. Braun Medical Inc.; Becton Dickinson & Company; Corium International, Inc.; Gerresheimer AG; Hindustan Syringes & Medical Devices Limited; PharmaJet; SCHOTT AG; Smiths Medical; Terumo Corporation; Vaxxas Inc.; Gerresheimer AG; ApiJect; Verndari; Inovio Pharmaceutical Inc.; and Esperovax.
These companies are adopting several different strategies such as investment in R&D, M&A, collaborations, geographical expansion, and new product launches to gain maximum revenue share in the market. For instance, in May 2020, the U.S. Defense Department signed a $138 million contract with ApiJect Systems America for "Project Jumpstart" and "RAPID USA" will be announced by the Department of Health and Human Services.
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