iCrowd Newswire – Jul 7, 2020
Growth in this market is mainly driven by growing prevalence of chronic disease, increasing incidence of communicable disease due to needle stick injuries, rising demand for biosimilars and vaccination, advantages of drug delivery technology, increasing demand for self-injection devices.
The global needle-free injection system market, in terms of value, is projected to reach USD 20.17 Billion by 2021 from USD 9.81 Billion in 2016, at a CAGR of 15.5% during the forecast period.
Needle-Free Injection System Market by Product (Fillable, Prefilled), by Technology (Jet, Spring, Laser, Vibration), Usability (Reusable, Disposable), Type of Medication (Liquid, Depot), Delivery Site (Intramuscular, Subcutaneous) – Forecasts to 2021
What Drives the Market?
1. Growing Prevalence of Chronic Diseases
2. Increasing Incidence of Communicable Diseases Due to Needlestick Injuries
3. Rise in Demand for Self-Injection Devices
Based on the technology, the market is divided into Jet-based needle-free injectors, spring-based needle-free injectors, laser-based needle-free injectors and vibration-based needle-free injectors. The jet-based needle-free injector is expected to account for the largest market share in 2016, due to their advantages over the other injector systems.
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Based on the Applications, the market is segmented into vaccine delivery, insulin delivery, Oncology, pain management and other applications; the vaccine delivery application segment is projected to be the fastest-growing segment during forecast period in 2016.
The geographical regions mapped in the Needle-Free Injection System Market are:
1. North America
3. Asia-Pacific (APAC)
4. Rest of the World
North America is expected to dominate the market in 2016, with the U.S. accounting for a major share. However, Europe is expected to grow at the highest CAGR during the forecast period. The high growth in this market is attributed to the rising demand for biologics, growing prevalence of chronic diseases, technological advancements, mergers and acquisitions by major companies in the market, favorable reimbursement policies, increasing healthcare expenditure and regulatory approvals of new injection system are key factors driving the market growth in Europe.
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Some key players mentioned in the research report are:
The Needle-Free Injection System Market is well established due to dominance of prominent market players such as Antares Pharma, Inc. (U.S.), Endo International plc (U.S.), PharmaJet (U.S), Bioject Medical Technologies Inc. (U.S), Medical International Technology, Inc. (U.S), INJEX Pharma AG (Germany), National Medical Products Inc. (U.S.), Valeritas, Inc. (U.S.), European Pharma Group (Netherland), PenJet Corporation (U.S), Crossject SA (France).
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Keywords: Needle-Free Injection System Market, Needle-Free Injection System, Needle-Free Injection