The global novel vaccine delivery systems market size was US$ 5,429.6 million in 2021. The global novel vaccine delivery systems market is forecast to grow to US$ 11,306.1 million by 2030 by registering a compound annual growth rate (CAGR) of 9.8% during the forecast period from 2022 to 2030.
Factors Influencing the Market
Immunization is considered essential to strengthen the individual's immune system. Various immunization programs have been developed to lower the prevalence of diseases. According to World Health Organization, vaccines are available for nearly 29 diseases, such as Cholera, Dengue, COVID-19 (emergency use WHO list), Diphtheria, Ebolavirus, Hepatitis A, Hepatitis B, Haemophilus influenza type b, Hepatitis E, Influenza, Japanese encephalitis, Malaria, Measles, Meningococcal disease, Typhoid fever, Pneumococcal disease, Rabies, Rotavirus gastroenteritis, Rubella, Tuberculosis, Yellow fever, etc. Thus, the rising prevalence of these diseases will fuel the growth of the global novel vaccine delivery systems market during the study period.
The demand for novel vaccine delivery systems is also mounting due to the ongoing COVID-19 pandemic. Governments, across the world, have started free vaccine drives to save the citizens from virus threats. Thus, the growing range of immunization programs in the coming years will drive the novel vaccine delivery systems market forward.
The high cost of safety syringes may limit the growth of the market. On the contrary, an increasing range of awareness programs conducted by the WHO will amplify the demand for novel vaccine delivery systems during the study period.
COVID-19 Impact Analysis
The COVID-19 pandemic stimulated the demand for an efficient cure. R&D activities surged to develop novel vaccines. Moreover, governments started offering free vaccines to the citizens in order to save them from the virus threat. The import and export of vaccines also increased abruptly. As a result, the novel vaccine delivery systems market witnessed lucrative growth opportunities.
Regional Analysis
On the basis of regions, the Asia-Pacific novel vaccine delivery systems market is forecast to emerge as the largest market. China is considered the epicenter of the COVID-19 pandemic, which was opportunistic for the Asia-Pacific novel vaccine delivery systems market. Furthermore, the disease also affected the majority of the population in India. As a result, it has been beneficial for the market. In addition, ongoing vaccination drives will benefit the market.
High prevalence of disorders like hepatitis B, tuberculosis, Nipah virus, and norovirus, will require effective immunization. As a result, it will drive the novel vaccine delivery systems market forward. Moreover, the region is considered to be the most populous region. The rising awareness related to the precautionary vaccination for these diseases will amplify the growth of this regional novel vaccine delivery systems market.
Competitors in the Market
Market Segmentation
The global novel vaccine delivery systems market segmentation focuses on Delivery Mode, Device, and Region.
By Delivery Mode Outlook
By Device Outlook
By Regional Outlook
