May 13, 2020
According to the research report titled ‘Global Needle-Free Injection System Market Size study, by Type (Liquid-Based Needle-Free Injectors, Projectile/Depot-Based Needle-Free Injectors, Powder-Based Needle Free Injectors) By Technology (Jet-Based Needle-Free Injectors, Spring-Based Needle-Free Injectors, Laser-Powered Needle-Free Injectors, Vibration-Based Needle-Free Injectors) By Product (Fillable Needle-Free Injectors, Prefilled Needle-Free Injectors) By Usability ( Disposable Needle-Free Injectors, Reusable Needle-Free Injectors) By Site of Delivery ( Subcutaneous Injectors, Intramuscular Injectors, Intradermal Injectors) By Application ( Vaccine Delivery, Insulin Delivery, Oncology, Pain Management, Other Applications) By End User (Hospitals and Clinics, Home Care Settings, Research Laboratories, Pharmaceuticals and Biotechnological Companies, Other End Users) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global needle-free injection system market was worth USD 12 billion in 2018 and is expected to grow with a CAGR of 10.5% between 2019 and 2026.
For the record, needle-free injection systems are medical syringes which are used to provide medications to the patient body without penetrating the skin with conventional needles. This technology helps in eliminating skin related hazards such as bruising or bleeding.
Increased pervasiveness of chronic conditions and lifestyle disorders like diabetes is a major factor driving the growth of the needle-free injection system market. Patients suffering from diabetes need regular glucose monitoring and use of needles enhances the risk of infection and pain. Needle-free injection not only reduces the risk of infection but also provides painless delivery of medications.
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Moreover, high occurrence of communicable diseases and growing demand for self-injection systems are stimulating the industry outlook. Rising adoption of vaccines and biosimilars coupled with increasing awareness pertaining to benefits of drug delivery technology are fostering the demand for needle-free injections across the globe. However, high development cost of the product may impede the market growth.
Considering the geographical landscape, needle-free injection system industry in North America is poised to generate considerable revenue in the forthcoming years, primarily due to advancements in medical technology and increasing incidences of chronic diseases.
Meanwhile, Asia-Pacific needle-free injection system market is anticipated to expand substantially during the forecast period. Improving healthcare infrastructure and favorable reimbursement policies are augmenting the regional demand.
Penjet Corporation, European Pharma Group, Valeritas Inc., National Medical Products Inc., INJEX Pharma AG, Medical International Technology Inc. (MIT), Bioject Medical Technologies (Inovio Pharmaceuticals Inc.), Pharmajet, Endo International PLC and Antares Pharma Inc. are the prominent companies operating in global needle-free injection system market.