The Rising Global Prevalence of the COVID-19 Infection is Driving the Global COVID-19 Vaccine Delivery Devices Market
According to Ameco Research, the global COVID-19 vaccine delivery devices market size is expected to reach a market value of around USD 8,600 million by 2030, growing at a CAGR above 7% over the projected timeframe.
Due to a paucity of treatments to treat the disease, the emergence of the COVID-19 outbreak has posed a significant challenge to the worldwide medical system. The death rate is significantly higher when compared to other types of viral-associated diseases, such as pneumonia. As a result, market demand for COVID-19 vaccine delivery devices has increased. As a result, there is a lot of interest in developing vaccines to combat the epidemic. These vaccines must be manufactured, transported, and delivered in a sterile manner, which is expected to be a major factor driving the global market for COVID-19 vaccine delivery devices.
The COVID-19 vaccine is intended to protect against infections caused by the corona virus, which causes severe respiratory disease (SARS-CoV-2). COVID-19 immunizations may aid in reducing the spread, severity, and death caused by COVID-19 viral infection. COVID-19 vaccines are divided into four categories: RNA vaccines inactivated viral vaccines, adenovirus vector vaccines, and subunit vaccines. Syringes, vials, injections, and other devices are used to administer COVID-19 vaccines. Additionally, batteries are used to keep immunizations at the proper temperature for storage.
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Global COVID-19 Vaccine Delivery Devices Market Growth Aspects
The key drivers driving market expansion are the emergence of COVID-19 epidemics, greater government help and investment in routine immunization programs and their expanding coverage, ongoing research and progress in the field of vaccination, and numerous initiatives and initiatives. The huge growth in novel modes of delivery by government universities, institutions, and large firms is a critical driver of economic growth. Furthermore, rising vaccination program expenditures by numerous international companies and agencies, rising adoption of needle-free advanced technologies, and soaring rapid development of science in systematic vaccine delivery such as micro-needles and electroporation are all influencing the COVID-19 vaccine delivery device industry. Furthermore, increased usage of micro-needles as a result of patient demand for painless self-administration is one of the major drivers driving the COVID-19 vaccine delivery devices market. Furthermore, rising technological improvements and modernization in vaccine production, rising R&D efforts in the health care industry, and growing emerging markets will provide new chances for the COVID-19 vaccine delivery devices market throughout the forecast period.
However, the increasing cost of micro-needles, especially in the developing nations, has been one of the major factors impeding market expansion and hampering the development of the COVID-19 vaccine delivery devices market throughout the forecast period.
Manufacturers are expanding their capacity to satisfy increased worldwide demand. The increased capacity is expected to boost product packaging consumption. For example, in February 2021, AstraZeneca announced collaboration with IDT Biologika to establish a new production facility in Germany. IDT biological is a German research and production company that also manufactures and fills glass vials. The rate at which the influenza virus mutates into a more virulent form is predicted to enhance vaccination demand, hence driving the market growth.
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global COVID-19 vaccine delivery devices market. In the global COVID-19 vaccine delivery devices market, North America is estimated to hold the largest market share. The market has grown as a result of a well-developed medical infrastructure and a high level of public awareness about vaccines. Large research and development expenditures for new vaccine breakthroughs are also contributing to economic growth. North America has well-developed healthcare systems as well as a large number of significant pharmaceutical companies. It is a prosperous economy with plenty of spare income, allowing people to choose from a number of modern treatment options. The vast majorities of residents in this region have health insurance and have access to health care. In contrast, the Asia-Pacific region is expected to be the fastest-growing sector. The region’s improving infrastructures, as well as an increasing prevalence of covid-19 medical sector and significant unmet immunization needs, have all led to the growth.
The global COVID-19 vaccine delivery devices market segmentation by Ameco Research based on devices, and route of administration. Based on the devices, the market is divided into syringes, jet injectors, and others. Based on the route of administration, the market separated into intradermal vaccination, subcutaneous vaccination, intramuscular vaccination, and other vaccinations.
Some key players covered global in the COVID-19 vaccine delivery devices industry are Becton Dickinson & Company, PharmaJet, SCHOTT AG, Bioject Medical Technologies, Inc. (Inovio Pharmaceutical Inc.), Vaxxas, Corium International, Inc., Gerresheimer AG, and 3M.
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