The Global Needle Free Injection Market size is expected to touch USD 25,057.4 million by 2023 owing to high prevalence of diabetes and chronic diseases. Market Research Future’s (MRFR) latest study reveals that the market is predicted a 15.28 % CAGR during the forecast period (2018–2023).
Needle free injections are medical devices which deliver drugs directly via the skin instead of using hypodermic needles as a medium. High demand for needle free injectors in home healthcare in North America and Europe is expected to augur market growth. In addition, rising investments in biopharmaceuticals are expected to provide the market a much-needed impetus.
The Global Needle Free Injection Market is predicted to touch USD 25,057.4 million by 2023 from USD 10,377.7 million in 2016, expanding at an astounding CAGR of 15.8% during the forecast period (2018-2023). High prevalence of diabetes is the primary factor driving the market. According to the American Diabetes Association, nearly 9.4% of the population in the U.S. reportedly had diabetes. This could result in a large number of users preferring needle free medication owing to low pain levels and fewer chances of contamination. In addition, incidence of chronic diseases and allergies which require accurate doses of medication is another driving factor of the market.
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By product type, the needle free injection market has been segmented into prefilled and fillable needle free injectors. By technology, the market is segmented into laser-powered, spring-based, and jet-based. By usability, the market is segmented into disposable and reusable needle free injectors.
By medication type, the market is segmented into projectile/depot-based, powder-based, and liquid-based needle free injectors. By site of delivery, intradermal, intramuscular, and subcutaneous are segments in the market. Oncology, vaccination, insulin delivery, and others are major market applications. Prime end-users include ambulatory surgical centers, homecare settings, hospitals and clinics, and others.
Top 10 Players Business Overview:
CROSSJECT, Medical International Technology, Inc., National Medical Products Inc., INJEX Pharma GmBH, PenJet Corporation, Valeritas Holdings, Inc., Antares Pharma Inc., D’Antonio Consultants International, Inc., MIKA MEDICAL CO., PharmaJet, Inc., Endo Pharmaceuticals Inc., Inovio Pharmaceuticals Inc., and European Pharma Group are prominent players in the needle free injection market.
The needle free injection market, on the basis of region, is segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA). The Americas are expected to dominate the global market owing to prevalence of chronic diseases and demand for self-administrative devices. Technological breakthroughs in pharmaceutical and biotechnology sectors, investments by industry participants, and high awareness among patients are factors anticipated to fuel market growth over the forecast period.
Europe is expected to register a significant growth rate over the forecast period due to the presence of well-established healthcare infrastructure and huge patient pool.
The APAC needle free injection market is projected to showcase a robust CAGR over the forecast period owing to strong economies of India and China. Increased healthcare expenditures of these developing economies coupled with a large patient pool can spur market demand. Enhanced safety and quality standards adhered by manufacturers of these medical devices can culminate in remarkable product sales.
The MEA market commands a smaller market share compared to others owing to stringent government policies and less emphasis on healthcare expenditure.
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Major TOC For Needle Free Injection Market Research Report- Global Forecast till 2023:
1 Report Prologue
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Needle Free Injection Market, By Product
7 Global Needle Free Injection Market, By Technology
8 Global Needle Free Injection Market, By Usability
9 Global Needle Free Injection Market, By Type of Medication
10 Global Needle Free Injection Market, By Site of Delivery
11 Global Needle Free Injection Market, By Application
12 Global Needle Free Injection Market, By End Users
13 Global Needle Free Injection Market, By Region
14 Competitive Landscape
15 Company Profiles
17 List of Tables
18 List of Figures
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