Tag Archives: Needle Free Drug Delivery Devices Market

Needle Free Drug Delivery Devices Market is expanding steadily at a CAGR of 9.90% up to 2023

The global needle free drug delivery devices market is anticipated to grow significantly over forecast period from 2015 to 2023. This growth is credited mainly to increasing urgency for preventive steps for needle-stick injuries. The needle-free drug delivery market contains several vendors. To present new products and upgrade existing ones to achieve more advanced, creative, and easy to use item, organizations are intensely investing into research and development. Numerous organizations are intensely investing into shares as well of microneedle drug delivery frameworks to acquire more and more market shares. The launch of new devices and technologies will intensify the market’s competitive scenario. Antares Pharma Inc., Injex Pharma AG, Zogenix Inc., Glide Pharmaceutical Technologies Ltd., Pharmajet Inc., and 3M are among the key players dominating the global needle free drug delivery devices market.

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According to Transparency Market Research, the global market for needle-free drug delivery devices is expected to account a noteworthy rise within the span of few upcoming years because of the growing demand for effortless delivery of solutions over the world. Experts gauge this market to keep on flourishing consistently at a solid CAGR of 9.90% within the duration of 2015 to 2023 and increase its evaluation from worth US$5.4 bn in year to US$13 bn by 2023. Based on geography, the North America region was analyzed to dominate the other region in 2014. Owing to rise in number of patients in North America and rising geriatric population in Europe region have propelled these regions to lead the global market. The insulin delivery segment registered the major usage among other segments in 2014, and is expected to continue in coming years as well.

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Prevalence of Self-Administration of Drugs to Propel Global Market

The growing inclination towards the self-administration of several drugs is one of the major propelling reason that is driving the market growth, within the forecast period. There are huge number of patient who are preferring self-administration of medicines with the help of needle free drug delivery device. The main reason behind this is the reduction in the healthcare expenses. It is worth noting that the launch of self-injectable drugs in rheumatoid arthritis encouraged people to go for self-administered drugs. There has been a significant rise in patient using self-administered drugs, since past few years. This has highly supported the overall market growth of needle free drug delivery device, as they reduce the risk of injuries due to needle-stick, coupled with cross contamination. Moreover, owing to the treatment in non-medical surrounding, it also lessens the overall medical expenses.

Rise in Chronic Illness Encourages Use of Needle Free Drug Delivery Devices

The rising prevalence of chronic disorders, for example, hepatitis, dengue, and AIDS, and diverse cardiovascular and neurological contaminations, which require endless administration of drugs, is as well foreseen to contribute in the increasing demand for needle free drug delivery devices market. Needle free drug delivery devices are mostly used in case of injecting insulin in the human body. The insulin delivery segment has been driving the application segment since the past few years and is foreseen to remain dominant over the coming years.

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The growing cases of neurological and cardiovascular diseases, the infrastructural progression in the healthcare and service industry, and the rise in investments of driving players around in the regions because of ignored healthcare needs in the past are foreseen to help the demand for needle free drug delivery devices in Asia Pacific region very soon. These devices are furthermore anticipated that would experience a significant surge in Latin America and the Middle East and Africa as a result of the betterment in healthcare services in these regions in past few years.

Key Takeaways:

  • The growing inclination towards the self-administration of several drugs is one of the major propelling reason that is driving the market growth, within the forecast period.
  • Owing to the treatment in non-medical surrounding, it also lessens the overall medical expenses.

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Needle Free Drug Delivery Devices Market is expanding steadily at a CAGR of 9.90% from 2015 to 2023

The global market for needle-free drug delivery devices has been registering a remarkable rise over the last few years, thanks to the growing demand for painless delivery of medications across the world. Analysts estimate this market to remain expanding steadily at a CAGR of 9.90% from 2015 to 2023 and increase its opportunity from US$5.4 bn in 2014 to US$13 bn by the end of 2023.

The rising need for preventive measures for needle-stick injuries is projected to stimulate the adoption of these devices significantly in the coming years. Apart from this, the growing incidence of dengue, hepatitis, and various chronic diseases, in which regular administration of medicines is required, is also expected to fuel the demand for these devices substantially over the next few years.

The needle free drug delivery devices market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on application and geography. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the market overview section. In addition, the section comprises Porters Five Forces Analysis to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global needle free drug delivery devices market.

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Based on technology, the market has been segmented into jet injectors and competing needle-free technologies. The competing needle-free technologies segment has been further divided into novel needle technology, inhaler technology, and transdermal patch technology. Novel needle technology includes micro-needle and pen needle. The market segments have been analyzed based on available approved products, cost-effectiveness, and preference for technologies by physicians and patients. The market size and forecast for each of these segments have been provided for the period from 2013 to 2023, along with their respective CAGRs for the forecast period from 2015 to 2023, considering 2014 as the base year.

Based on application, the needle free drug delivery devices market has been segmented into five major categories: vaccine delivery, pain management, insulin delivery, pediatric injections, and others. Other applications of needle free drug delivery devices include angina, hypertension, and other medical conditions. The market segments have been extensively analyzed based on prevalence of the diseases, available treatment, and geographical coverage. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2013 to 2023. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2015 to 2023, considering 2014 as the base year.

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Geographically, the global needle free drug delivery devices market has been categorized into five major regions and the key countries in the respective region: North America (the U.S., Canada), Europe (the U.K., Germany, and Rest of Europe), Asia Pacific (Japan, China, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2013 to 2023, along with their respective CAGRs for the forecast period from 2015 to 2023, considering 2014 as the base year. The research study also covers the competitive scenario in these regions.

The report also profiles major players in the global needle free drug delivery devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report include Zogenix, Inc., 3M Health Care, Antares Pharma, Inc., Glide Pharmaceutical Technologies Ltd., Injex Pharma AG, and Pharmajet, Inc.

 

Needle-Free Drug Delivery Devices Market: Decades of history but evolution still continues

This report on the needle free drug delivery devices market analyzes the current and future scenario of the global market. Large number of chronic pain and diabetes sufferers is increasing the usage of needle free drug delivery devices. Less pain and consistency in drug delivery are the major drivers of the global needle free drug delivery devices market.

The needle free drug delivery devices market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on application and geography. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the market overview section. In addition, the section comprises Porters Five Forces Analysis to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis, by geography and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global needle free drug delivery devices market.

Read Full Press Release: http://www.transparencymarketresearch.com/pressrelease/needle-free-delivery-devices-market.htm

Based on technology, the market has been segmented into jet injectors and competing needle-free technologies. The competing needle-free technologies segment has been further divided into novel needle technology, inhaler technology, and transdermal patch technology. Novel needle technology includes micro-needle and pen needle. The market segments have been analyzed based on available approved products, cost-effectiveness, and preference for technologies by physicians and patients. The market size and forecast for each of these segments have been provided for the period from 2013 to 2023, along with their respective CAGRs for the forecast period from 2015 to 2023, considering 2014 as the base year.

Based on application, the needle free drug delivery devices market has been segmented into five major categories: vaccine delivery, pain management, insulin delivery, pediatric injections, and others. Other applications of needle free drug delivery devices include angina, hypertension, and other medical conditions. The market segments have been extensively analyzed based on prevalence of the diseases, available treatment, and geographical coverage. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2013 to 2023. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2015 to 2023, considering 2014 as the base year.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=447

Geographically, the global needle free drug delivery devices market has been categorized into five major regions and the key countries in the respective region: North America (the U.S., Canada), Europe (the U.K., Germany, and Rest of Europe), Asia Pacific (Japan, China, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America) and Middle East & Africa (South Africa and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2013 to 2023, along with their respective CAGRs for the forecast period from 2015 to 2023, considering 2014 as the base year. The research study also covers the competitive scenario in these regions.

The report also profiles major players in the global needle free drug delivery devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major players profiled in this report include Zogenix, Inc., 3M Health Care, Antares Pharma, Inc., Glide Pharmaceutical Technologies Ltd., Injex Pharma AG, and Pharmajet, Inc.

Needle Free Drug Delivery Devices Market size and Key Trends in terms of volume and value 2015-2023

The global market for needle-free drug delivery devices has been registering a remarkable rise over the last few years, thanks to the growing demand for painless delivery of medications across the world. Analysts estimate this market to remain expanding steadily at a CAGR of 9.90% from 2015 to 2023 and increase its opportunity from US$5.4 bn in 2014 to US$13 bn by the end of 2023.

The rising need for preventive measures for needle-stick injuries is projected to stimulate the adoption of these devices significantly in the coming years. Apart from this, the growing incidence of dengue, hepatitis, and various chronic diseases, in which regular administration of medicines is required, is also expected to fuel the demand for these devices substantially over the next few years.

Read Full Press Release: http://www.transparencymarketresearch.com/pressrelease/needle-free-delivery-devices-market.htm

North America to Maintain Dominance but with Diminished Market Share

North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa are the main regional markets for needle-free drug delivery devices across the world. North America and Europe dominated the overall market in 2014. While the market in North America was driven by a large pool of participants, the huge base of the geriatric population, demanding convenient and painless drug delivery led the Europe market for needle-free drug delivery devices.

Analysts predict North America to retain its dominance in the near future albeit with a diminished market share. Asia Pacific, on the flip side, is projected to emerge as the fastest rising regional market for needle-free drug delivery devices in the coming years.

The growing prevalence of chronic cardiovascular and neurological diseases, the infrastructural development in the medical and healthcare industry, and the increasing focus of leading players in this region due to unmet medical need are expected to boost the adoption of these devices in Asia Pacific considerably in the near future. These devices are also anticipated to experience a healthy rise in their demand in Latin America and the Middle East and Africa on account of the betterment of the healthcare scenario in these regions over the next few years.

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Needle-free Drug Delivery Devices Find Highest Demand in Insulin Delivery

Needle-free drug delivery devices are mostly applied in insulin delivery, vaccine delivery, pediatric injections, and pain management. In 2014, the demand for these devices was the highest from the insulin delivery segment, which is likely to remain the same over the next few years. Other segments are also projected to register a steady rise in the demand for these devices in the nearing future.

The competitive landscape in the worldwide needle-free drug devices market demonstrate a consolidated structure. Leading players are increasingly entering into mergers, acquisitions, and strategic partnerships to expand their reach in this market. They are also focusing aggressively on the introduction of innovative as well as advanced devices in this market to strengthen their position. Some of the leading manufacturers of these devices across the world are Injex Pharma AG, Antares Pharma Inc., Zogenix Inc., Pharmajet Inc., Glide Pharmaceutical Technologies Ltd., and 3M.

With Increasing Focus on Introducing Advanced Devices, Manufacturers of Needle-Free Drug Delivery Devices Bracing for Intense Competition

With the increasing strategic alliances between needle-free drug delivery devices manufacturers, the business landscape of this market demonstrates a rather consolidated structure. In 2014, the top three companies, namely, Zogenix, 3M, and Antares Pharma Inc., jointly held a share of more than 60% in the overall market, finds Transparency Market Research (TMR) in a new study.

Apart from mergers, acquisitions, and partnerships, leading companies are currently focusing on introducing advanced devices based on novel technologies to strengthen their presence in this market. Looking forward, the vast array of technically advanced devices – in the pipeline at present – will further intensify the competition in the worldwide market for needle-free drug delivery devices in the near future.

Growing Preference for Painless Delivery of Medicines Fuels Demand for Needle-Free Drug Delivery Devices

The growing preference for efficient and painless delivery of medicines is leading the drug delivery market towards needle-free injection systems. As these systems make use of a liquid drug delivery technology that works effectively with already available drug formulations, the development costs on these products are very low. This has encouraged a number of medical devices manufacturers to invest in needle-free drug delivery devices, boosting the market’s growth.

In addition to this, the increasing need to prevent needle-stick injuries is likely to stimulate the adoption of needle-free drug delivery devices significantly during the forecast period. The rising prevalence of infectious diseases such as dengue, hepatitis, and AIDS, and various cardiovascular and neurological diseases, which require continual administration of drugs, is also projected to create substantial demand for these devices over the next few years.

Despite North America’s Dominance, Asia Pacific to Report Fastest Growth

According to TMR’s estimates, the opportunity in the global market for needle-free drug delivery devices that valued at US$5.4 bn in 2014, is likely to increase at a CAGR of 9.90% during the period from 2015 to 2023 and possibly worth US$13 bn by the end of the forecast period.

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In 2014, North America led the global market with a share of more than 40% and was closely followed by Europe. During the forecast period, North America will remain the dominant regional market; however, it will lose a significant amount of its market shares to Asia Pacific. The latter, on the other hand, will emerge as the fastest growing market for needle-free drug delivery devices in the coming years.

Needle-free drug delivery devices are mostly utilized for the administration of insulin in the human body. The insulin delivery segment has been leading the application segment since the last few years and is projected to remain dominant over the coming years.

Competing needle-fee technologies, such as inhaler, transdermal, and various other novel needle-free technologies witnessed the highest demand in 2014. However, jet injectors are likely to exhibit the fastest growth rate over the forecast period.

The study presented here is based on the findings of a report by TMR, titled, “Needle Free Drug Delivery Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.”