SK Bioscience Co. Ltd. and Vaxxas Pty. Ltd. have entered into a joint development agreement that could revolutionize vaccines by developing a vaccine-delivery device combination product using Vaxxas’ high-density microarray patch (HD-MAP) coupled with SK Bioscience’s typhoid vaccine, Skytyphoid.
Fact.MR – A Market Research and Competitive Intelligence Provider: The vaccine delivery systems market was valued at US$ 3.81 billion in 2021, and is expected to reach US$ 4.14 billion by the end of 2022, reflecting an increase of 8.6% year over year.
Vaccine delivery devices market: Key Findings
North America owns the largest share in vaccine delivery device market. The market growth is supported by robust and advance medical infrastructure and growing awareness regarding vaccination.
Huge investment in research and development of new vaccine devices fuels the market growth in Europe.
Asia-Pacific region is forecast to observe tremendous growth owing to rising population and low vaccination rates along with rapid infrastructure development.
Intramuscular vaccine is gaining popularity among patients and is estimated to reach the valuation of US$ 1000 Mn by the end of 2022.
Syringes will also register healthy growth in global vaccine delivery device market owing to high utility during mass vaccination and inexpensive nature.