According to a new market research report “Needle-Free Injection System Marketby Product (Fillable, Prefilled), by Technology (Jet, Spring, Laser, Vibration), Usability (Reusable, Disposable), Type of Medication (Liquid, Depot), Delivery Site (Intramuscular, Subcutaneous) — Forecasts ”, published by MarketsandMarkets
The Global Needle-Free Injection System Market, in terms of value, is projected to reach USD 20.17 Billion, at a CAGR of 15.5% during the forecast period.
Growth in this market is mainly driven by the growing prevalence of the chronic disease, increasing the incidence of communicable disease due to needlestick injuries, rising demand for biosimilars and vaccination, advantages of drug delivery technology, increasing demand for self-injection devices.
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Based on the Applications, the Needle-Free Injection System 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 the forecast period in 2016. The growth of this market primarily attributed to factors such as the rising incidence of chronic diseases, technological advancement, and growing preference for self-medication.
Based on the end user, the Needle-Free Injection System Market is segmented into Hospitals and Clinics, home care settings, research laboratories, pharmaceutical and biotechnological companies and another end user. The hospitals and clinics segment are expected to grow at the highest rate in the forecast period. The growth in this segment can primarily be attributed to the advancement in the medication or drug delivery technology and rising geriatric population.
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Geographical Analysis:
The Needle-Free Injection System Market is dominated by North America, followed by Europe, Asia, and the Rest of the World. While North America is expected to dominate the market. 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
The Needle Free Injection System Market is a fragmented market, with several big and emerging players.Key market players include 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).
