Needle-Free Injection Systems Market Insights on Market Challenges and New Trends

The benefits of needle-free syringes drive the market growth. The use of needle-free syringes eliminates the risks associated with the use of needles such as cross-contamination or spread of infectious disease and needle stick injuries, which in turn propels the market growth.

Global Needle-free Injection Systems Market is projected to reach $23,116 million by 2023 from $8,166 million in 2016, rising at a CAGR of 16.0% from 2017 to 2023. The liquid-based needle free injection systems segment held more than two-thirds share of the total market in 2016.

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Needle-free injection systems are used to administer drugs and vaccines into patients without penetrating the skin. Improved immunization coverage, increase in demand for self-injection devices, increasing prevalence of chronic diseases such as diabetes and cancer, risk of exposure to communicable diseases due to needle stick injuries, and decrease in healthcare costs are expected to drive the market growth. However, lack of trained personnel and limited usage of needle-free injection systems for intravenous administration may restrict the market growth.

The major companies profiled in the report are

·         Antares Pharma Inc.

·         Endo International plc

·         PharmaJet

·         Medical International Technology Inc.

·         INJEX Pharma AG

·         PenJet Corporation

·         Crossject needle-free injection systems

·         National Medical Products Inc.

·         Valeritas Inc.

·         European Pharma Group

Subcutaneous injectors segment is expected to dominate the market throughout the analysis period. However, the intradermal injectors segment is expected to register the highest CAGR of 15.6%.

Rise in prevalence of diabetes raises the demand for needle-free insulin delivery devices. According to the Centers for Disease Control and Prevention, in 2015, approximately 30.3 million people or 9.4% of the total population of the U.S. suffered with diabetes. In addition, according to the Diabetes UK, in 2016, approximately 3.6 million people were diagnosed with diabetes in the UK. Hence, increase in diabetics is expected to have a positive impact on the market.

KEY FINDINGS OF THE NEEDLE-FREE INJECTION SYSTEMS MARKET STUDY:

·         The spring injector systems segment is projected to grow at a CAGR of 15.6% during the forecast period.

·         Disposable accounted for more than one-third share of the global needle-free injection systems market in 2016.

·         In terms of product, the prefilled injector system segment is expected to register the highest CAGR of 17.7%.

·         The use of needle-free injectors for vaccine delivery is expected to grow at the CAGR of 15.9%.

·         France and Germany collectively contributed for more than one-third share of the European needle-free injection systems market in 2016.

·         Japan was the major shareholder in 2016, accounting for more than one-third share of the Asia-Pacific needle-free injection systems market.

Asia-Pacific is projected to register the highest CAGR of 16.6%, owing to rise in incidence of chronic disease such as diabetes and hepatitis. In addition, surge in awareness of benefits of needle-free injection systems, such as elimination of needle phobia, offers a lucrative opportunity for the market growth.