Needle Free Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3884
Needle Free Devices Market size is expected to grow significantly from 2019 to 2025.
Technological advancements in the drug delivery systems has positively impacted industry growth during the analysis timeframe. Recently developed needle free devices are highly efficient and ensure that optimum dosage of drug is administered inside patient’s body. Moreover, these needle free injections cause no pain that increases its preference amongst the children and geriatric population. Above mentioned factors should augment the industry growth.
Favorable regulatory scenario for needle free devices should prove beneficial for the industry growth. Regional regulatory authorities such as FDA and Eu Commission frame certain laws that assures superior quality of the needle free devices being manufactured and marketed. However, excessive cost of needle free technology may hamper its adoption thereby, restraining the industry growth to some extent during the analysis timeframe. This factor may have short term impact and will vanish with an increase in income level.
Inhaler technology segment is projected to witness considerable growth throughout the forecast timeframe. Substantial segmental growth can be attributed to the benefits possessed by inhaler technology. Inhalers provide best treatment for asthma causing no pain. Steroids and other medications that are administered using injections may lead to inflammation and swelling that increases the preference for inhaler technology. Moreover, currently utilized inhalers are also automated and deliver exact number of doses at specific time intervals. Thus, availability of technologically advanced inhalers will positively impact the needle free devices market size.
Hospitals segment is predicted to experience lucrative growth during the forecast years. Hospitals are well-equipped with advanced medical devices for diagnosis and treatment. Thus, patients usually prefer receiving treatments from hospitals. Also, hospitals covered under public sector are usually funded that ensures optimal availability of needle free devices in the hospitals. Above mentioned factors will surge the segment growth in the near future.
North America needle free devices market will witness significant growth during the forecast years. Regional growth can be associated with the growing awareness regarding availability of needle free devices. Since the countries in North America are well-developed, awareness level regarding availability of advanced medical products is usually high here. Moreover, majority of the population in this region gets easy access to advanced medical products including inhalers, transdermal patches and others. This scenario proves beneficial for the regional growth. Besides, favorable demographic trends such as increasing geriatric population suffering from several chronic diseases will also positively influence the demand for needle free devices in North America.
Some of the major players operating in the needle free devices market share include Antares Pharma, INJEX Pharma AG, Verdict Media, 3M, PharmaJet, zonenix, Inovio Pharmaceuticals, Valeritas and others. These players implement several strategic initiatives such as merger and acquisitions to maintain their market position. For instance, PharmaJet has introduced needle free syringes that have minimized the dose administration time and are capable of generating high immunogenic response. Introduction of such new products will foster company’s growth.
Needle Free Devices Market By Technology, 2014-2025 (USD Million)
- Jet Injectors
- Inhaler technology
- Novel needle-free technologies
Needle Free Devices Market By End-users, 2014-2025 (USD Million)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Antares Pharma
- INJEX Pharma AG
- Verdict Media Limited
- Inovio Pharmaceuticals, Inc.
- Valeritas, Inc
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