The Total Addressable Market (TAM) for Novel Vaccine Delivery System was valued at USD 5.41 billion in 2021. It is projected to reach USD 13.29 billion by 2030, growing at a CAGR of 10.5% during the forecast period (2022-2030).
Vaccines, also referred to as immunizations, involve injecting a person with a pathogen that has been weakened to trigger the body's production of antibodies or immunity to the disease. Due to successful immunizations, several illnesses with high fatality rates—including polio and smallpox—have been eradicated. Since vaccinations play a crucial part in preserving people's long-term health in various nations, they are utilized in several regional disease-prevention initiatives. The prevalence of viral and bacterial infectious diseases has increased in recent years, increasing the demand for vaccines. In essence, vaccinations are given to individuals of various age groups to boost their immune systems and protect against various infectious diseases. The technique used to securely deliver an active pharmaceutical component into the body is "novel vaccination delivery."
Market expansion is encouraged by the provision of additional funding to government immunization programs. For instance, the government made the coronavirus vaccine available to the priority groups through the network of states and districts at no cost as part of a particular COVID-19 immunization program. Furthermore, in the following years, the market for novel vaccine delivery systems is anticipated to be driven by increased investments in developing new vaccines. The Indian government contributes to these endeavors by increasing its R&D spending. The Department of Biotechnology (DBT), the Indian Council of Medical Research (ICMR), and the Indian Council of Agricultural Research (ICAR) are pertinent government funding organizations that have increased their commitment to vaccine-related R&D.
The development of innovative vaccines using various strategies, such as structure-based immunogen design, gene-based vaccination platforms, and the production of recombinant antigens with effective adjuvants, is anticipated to considerably fuel market expansion over the forecast period. The development of vaccines against diseases like tuberculosis, influenza, and respiratory syncytial virus, as well as a novel coronavirus using these technologies, is showing promising results, which will support the expansion of the market for novel vaccine delivery systems over the forecast period.
The high price of smart syringes compared to traditional syringes prevents widespread adoption. Some models have comparable prices to those of ordinary single-use syringes, while others can cost up to five times as much, which is unaffordable in some low- and middle-income nations. Additionally, the market expansion is constrained by high capital expenditures needed for producing and maintaining a small number of safety syringes and variations in cost based on technologically advanced syringes.
Asia-Pacific and LAMEA are potential markets for smart syringes because of their developing economies. Slower uptake of conventional syringes results from rising rates of HIV and hepatitis transmission and an increase in the prevalence of needlestick injuries. Additionally, due to the growing demand for safer injection techniques, the adoption rate of smart syringes is significantly increasing.
The WHO's awareness campaigns on the dangers and consequences of unsafe injections have significantly impacted the demand for intelligent syringes in nations like India, China, Africa, Turkey, and Indonesia. In contrast, because of unfavorable or low reimbursement rates for employing smart syringes, the purchasing power is minimal in developing nations. The availability of improved healthcare facilities and a rise in consumer spending power is predicted to lessen this issue's influence and increase the global novel vaccine delivery system market over the forecast period.
| Study Period | 2020-2032 | CAGR | 10.5% |
| Historical Period | 2020-2022 | Forecast Period | 2024-2032 |
| Base Year | 2023 | Base Year Market Size | USD XX Billion |
| Forecast Year | 2032 | Forecast Year Market Size | USD XX Billion |
| Largest Market | North America | Fastest Growing Market | Europe |
The global novel vaccine delivery system market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
North America is the most significant shareholder in the global novel vaccine delivery system market and is expected to grow at a CAGR of 9.8% during the forecast period. The increasing prevalence of several chronic diseases and disorders, including polio, measles, and influenza, is boosting vaccination demand and fostering the development of a novel vaccine delivery system in this area. Additionally, the presence of well-developed healthcare infrastructure, greater purchasing power, higher levels of healthcare spending, and strict regulations are other factors that contribute to the growth of the market for new vaccine delivery systems in this region. For instance, the United States government awarded Retractable Technologies Inc. and Marathon Medical Corp. two contracts to provide syringes and needles for the pandemic vaccination. In addition, the Centers for Disease Control and Prevention (CDC) releases an updated schedule of vaccinations every year that are advised for the prevention of several diseases in America, which is anticipated to benefit the market for new vaccine delivery systems.
Europe is expected to grow at a CAGR of 10.5%, generating USD 4,342.77 million during the forecast period. The rise in infectious diseases like measles and influenza in European nations drives the market for innovative vaccine delivery systems in this region. In addition, the World Health Organization (WHO) reported that Europe saw a record number of measles cases. Thus, it is anticipated that Europe's population will have vaccinations and immunizations against the new coronavirus over the forecast period. This ultimately results in greater availability of vaccine delivery products in the region. As a result, it is anticipated that these factors will boost Europe's overall demand for new vaccine delivery systems, fueling the market's expansion.
Japan, China, India, Australia, South Korea, and the rest of Asia-Pacific are all included in the regional market analysis. The large patient base, rising healthcare awareness, rising healthcare costs, rising disposable income, and rising government expenditures are all contributing factors to the market expansion in this area. Additionally, the Asia-Pacific region is anticipated to experience the fastest market growth throughout the forecast period due to the rising prevalence of chronic diseases like hepatitis B, tuberculosis, the Nipah virus, and norovirus as well as expanding immunization programs and their increased coverage. According to the WHO, the South-East Asia region is home to an estimated 39 million chronically infected with the hepatitis B virus, which is responsible for an estimated 300,000 deaths each year.
Moreover, the highest rate of new TB cases (44%) occurred in the WHO South-East Asian region. The market for new vaccine delivery systems is anticipated to grow at the quickest rate during the forecast period in Asia-Pacific because of the region's rapidly developing economies and continually increasing healthcare infrastructure. The Asia-Pacific region is also the one with the largest population worldwide. More vaccinations will likely be consumed due to the increased population, ultimately fueling market expansion.
LAMEA is a developing industry that is anticipated to offer lucrative growth prospects for crucial players due to improved healthcare infrastructure and better awareness of the importance of timely treatment of chronic illnesses. Additionally, a rise in the number of patients with chronic illnesses like malaria, the flu, yellow fever, and other infectious diseases is propelling the market's expansion. A vital aspect anticipated to fuel market growth in LAMEA is expanding the healthcare infrastructure, increasing the prevalence of chronic diseases like malaria, and increasing awareness of the need for prompt treatment of chronic disorders.
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The global novel vaccine delivery system market is segmented by delivery mode and device.
Based on delivery mode, the global novel vaccine delivery system market is bifurcated into intradermal, subcutaneous, intramuscular, and others.
The intramuscular segment is the highest contributor to the market and is expected to grow at a CAGR of 10.3% during the forecast period. An intramuscular injector is a tool for injecting drugs directly into the muscles. Modern medicine uses intramuscular injectors to facilitate the fast absorption of medications in the bloodstream. These injectors are typically used to administer medications and immunizations. Additionally, because muscles have a larger blood supply than the tissues found beneath the skin and can contain a large volume of medication, these drug delivery methods are highly preferred to others for fast treatment. It is utilized for cancer vaccination and other infectious disease vaccination, as well as for mass immunization employing DNA vaccines. Most vaccinations are administered intramuscularly into the deltoid or the anteromedial part of the thigh. This increases the vaccine's immunogenicity and reduces side effects at the injection site.
During an intradermal injection, also known as ID, the substance is injected superficially or shallowly into the dermis, which is located between the epidermis and the hypodermis. An intradermal injection is a viable alternative to the traditional intramuscular route for vaccination administration. Only a minimal number of vaccinations, such as Bacille Calmette Guérin (BCG) for tuberculosis (TB) and, in at least some countries, post-exposure rabies vaccination, have been and are now administered via intradermal delivery (IDD). It has also been considered a different method of administering various other vaccines, such as hepatitis B (HBV), measles, polio, and influenza. Devices used to administer intradermal vaccine include standard or tuberculin needle and syringe (N&S) (Mantoux technique), Becton Dickinson (BD) microinjection system, and Jet injector.
Based on the device, the global novel vaccine delivery system market is bifurcated into syringes, needle-free injection systems, and others.
The syringe segment owns the highest market share and is expected to grow at a CAGR of 10.8% during the forecast period. A syringe is a cylindrical medical tool with a thin, hollow needle attached to a tube and a plunger at the other end. Syringes are used to inject fluids into the body or to withdraw fluids from it. Syringes can be either disposable or reused, depending on the conditions. Disposable syringes are frequently used to inject medications, administer immunizations, or collect blood samples from human subjects. Disposable syringes are also made to be used only once, eliminating the sterilization requirement. Additionally, the WHO's mandated advice that everyone uses disposable syringes to ensure safe injection techniques has increased disposable syringes, considerably boosting the market for syringes.
The use of hypodermic needles is eliminated by needle-free injection technology (NFIT), which encompasses various drug delivery devices. Shock waves, pressure from gas or liquid, compressed mechanical force, and other factors are used to force the medications through the skin. This method is advantageous for the pharmaceutical industry and mass vaccination campaigns, lowering the risk of needle stick injuries and preventing several additional issues resulting from using a single needle. The use of needle-free injection is increased by factors such as the rising prevalence of chronic diseases and lifestyle disorders, the population's propensity for medication self-administration, and the expansion of the needle-free injection system market. The growing use of needle-free injection techniques in mass vaccination campaigns further boosts the industry.
