Global Needle Free Injection System Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024
Global needle-free injection system market is expected to grow significantly from USD 2,267 million in 2017 to USD 5,785 million in 2024, at an exponential CAGR of 14.8% from 2018 to 2024.
The growth in the market is attributed to the increasing demand for self-injection devices. Moreover, increasing prevalence of chronic diseases and high incidences of needle stick injuries is also expected to fuel the market growth during the forecast period. Additionally, emerging applications of needle free injection system in biosimilar, vaccination, and local anesthetics are projected to propel the market growth during 2018-2024.
The years used for the assessment are as follows;
Historical year:2014, 2015, and 2016
Forecast period:2018 – 2024
The research and analysis is based on the data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;
Obtaining historical data of the market based on news, articles, publications, government websites, annual reports, press releases, white papers, surveys, investor presentation of companies, and other secondary sources
Interacting with key opinion leaders of the market and developing data points based on interaction with them
Study of past trends in the market and their year on year Impact on the market size and share
Analyzing the collected data points
Bridging the data points to calculate the total needle free injection system market and its various segments
Anticipating potential risks
Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global needle free injection system market
Finalizing the overall size and share of the global needle free injection system market
To analyze market trends, opportunities, drivers, and restraints associated with the global needle free injection system market
To study market response with respect to the mergers and acquisitions in the industry
To profile key companies operating in the needle free injection system market and provide their competitive landscape
The research scope for global needle free injection system market is as follows:
Powder-Based Needle Free Injectors
Liquid-Based Needle Free Injectors
Depot-Based Needle Free Injectors
Prefilled Needle Free Injectors
Fillable Needle Free Injectors
Transdermal Patch Technology
Novel Needle Free Technologies
Reusable Needle Free Injectors
Disposable Needle Free Injectors
By Site of Delivery
Home Care Settings
Central & South America
Middle East and Africa
The needle-free injection system is a new approach to introduce various type of medicine into patient’s blood circulation. This technology has emerged as a safer, less painful and cost-effective alternative. The needle-free injection system delivers the drug through the skin using forces such as Lorentz, shock waves, pressure by gas, and electrophoresis. Moreover, strong demand for needle-free injection system is due to its emerging applications in biosimilar, vaccination, and local anesthetics. Furthermore, technological advancements in the needle-free injection system owing to increasing research and development activities are further expected to fuel the demand during the forecast period.
Geographically, North America held the major share of the global needle free injection system market in 2017. The growth in the region is attributed to the increasing prevalence of chronic diseases and growing demand for self-injection devices. The growth of needle free injection system market in Europe is primarily attributed to growing government support for product approvals. Asia-Pacific is expected to witness the highest CAGR during the forecast period due to high incidence of needle stick injuries, and rapid technological advancements in drug delivery devices in the region.
Some of the key companies operating in the Market include PharmaJet, Antares Pharma, Inc., European Pharma Group, Crossject needle-free injection systems, AkraDermojet, Enable Injections, 3M Company, Penjet Corporation, Zogenix, Inc., B. Braun Melsungen AG, and Valeritas,Inc. among others.