New Jersey, NJ, July 31, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled, "Global Needle-Free Drug Delivery Devices Market by Technology (Jet Injectors, Inhaler, Transdermal Patch, Novel Needle Free), Application, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025". As per the report, the global needle-free drug delivery devices market is expected to grow from USD 7.62 Billion in 2017 to USD 19.35 Billion by 2025 at a CAGR of 11.60% during the forecast period from 2018-2025. Surge in demand of painless delivery methods, technological advancements in the field of pain-free drug transportation and self-administration as well as risk of needle born infections are major drivers contributing to the growth of the market.
Market Outlook of the Needle-Free Drug Delivery Devices
- Needle-free devices provide pain less delivery and reduce the risk of infection. Increase in number of diabetic patients is likely to stimulate the demand of these devices. Rising pressure to reduce the rate of infectious diseases such as hepatitis, dengue fever, neurological disorders, and AIDS is deriving the demand of products. According to the Centers for Disease Control and Prevention (CDC), about 47,352 individuals were diagnosed with HIV infection, of which 3,096 individuals were attributed to the injection drug use (IDU) in 2015. In addition to this, surge in the demand of pain-free and self-administration products are playing chief role in driving the market.
- Rising number of diabetes patients, increase in incidence of needle born disease are major drivers driving the growth of the global needle-free drug delivery devices market. In addition, demand of painless alternatives and self-administration to minimize the dependency is also bolstering the market. Changing regulatory requirements and lack of skilled professionals may restrict the growth of the market. However, rising pressure to mitigate the rate of needle borne infectious diseases and new technological development by competitors are positively impacting the global needle-free drug delivery devices market in future.
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Type Segment Analysis of the Needle-Free Drug Delivery Devices Market
- Jet Injectors
- Inhaler technology
- Transdermal Patch Technology
- Novel Needle-Free Technologies
The jet injectors segment is dominating the global needle-free drug delivery devices market and is anticipated to grow with the highest CAGR of 13.82% over the forecast period. The benefits of jet injector include faster drug delivery into bloodstream and insulin distribution over a larger area in lower layer of skin. Jet injectors are used for a wide variety of applications such as rapid administration, improved dosing accuracy, reduced pain, reduced sharp waste, and easy portability. The transdermal patch technology segment is anticipated to be the second leading segment in the global needle-free drug delivery devices market over the forecast period due to the advantages offered by this technology that includes maintaining constant drug levels, less side effects, and active absorption of medication.
Application Segment Analysis of the Needle-Free Drug Delivery Devices Market
- Vaccine Delivery
- Pain Management
- Insulin Delivery
- Pediatric Injections
- Others
The insulin delivery segment is dominating and was valued around USD 2.75 billion in 2017. The growth of the segment can be attributed to the growing patient population and improving healthcare infrastructure in developing countries. Introduction of technologically advanced products such as insulin pen, insulin micropump, insulin spray, inhalable insulin, and other novel jet injectors are also contributing to the growth of insulin delivery segment in the global needle-free drug delivery devices market. The growth of the segment is due to rising incidence of diabetes and increasing shift towards unhealthy lifestyle habits.
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Region Segment Analysis of the Needle-Free Drug Delivery Devices Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region dominated the global needle-free drug delivery devices market and held the largest market share of around 48.07% in 2017 where as Asia Pacific is expected to attain lucrative growth in the forecast period. North America dominated the market owing to presence of well-developed healthcare facilities and extensive R&D expenditure by government organizations and pharmaceutical companies for diabetes and chronic pain management. Asia Pacific is anticipated to witness lucrative growth in the forecast period due to rising prevalence of diabetes in developing countries. For instance, the International Diabetes Federation stated, India had about 7.2 billion individuals suffering from diabetes and China had about 11.4 billion individuals suffering from diabetes in 2017.
Competitive landscape and key vendors
- Major industry players operating in the market include are Injex Pharma AG, Antares Pharma, 3M, Pharmajet, Zonenix, Inovio Pharmaceuticals, Inc., Penjet, Valeritas, Inc., Endo Pharmaceuticals Inc., Akra Dermojet., D'Antonio Consultants International Inc., Mystic Pharmaceuticals, Inolife Sciences, Pfizer Inc., Ferring B.V., OptiNose Tianjin Xuying Technology Development Co. Ltd., and among others.
- The companies are adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership to maintain their presence in the global needle-free drug delivery devices market. For instance, in May 2018, Namaste Technologies entered into an agreement with Inolife R&D Inc. Through this agreement Namaste received exclusive rights for needle-free technologies for applications of medical cannabis.
- For instance, in October 2017, Antares Pharma and Ferring Pharmaceuticals signed an agreement. In this agreement Ferring Pharmaceuticals received fixed assets from Antares and rights to sell ZOMAJET, which is a needle-free auto-injector globally.
- For instance, in 2015, Zogenix introduced DosePro, which is needle-free, prefilled, single-use medication transportation technology. DosePro is designed to deliver a single dose of a liquid drug subcutaneously, without a needle. The DosePro development has put Zogenix in a very strong position in the global needle-free drug delivery devices market.
About the report:
The global needle-free drug delivery devices market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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