The nature of the business landscape is highly consolidated with the alliances between the companies operating in the needle-free delivery devices market increasing, states Transparency Market Research (TMR) in a research report. The leading three companies, namely, Antares Pharma Inc., 3M, and Zogenix collectively held a share of over 60% in the global market for needle free drug delivery in 2014. Apart from partnerships, acquisitions, and mergers, the core vendors are now focusing on the introduction of advanced devices on the basis of novel technologies for strengthening their position in the market for the long run and staying competitive as well. Going forward, the huge swath of in fact propelled gadgets - in the pipeline at show - will additionally strengthen the opposition in the overall market for sans needle sedate conveyance gadgets sooner rather than later.
According to a TMR analyst, “The global needle free drug delivery market is anticipated to rise at a 9.90% CAGR from 2015 to 2023. In 2014, the market was worth US$5.4 bn and is likely to touch a valuation of US$13 bn by the end of 2023.” In terms of application, the market can be segmented into pain management, pediatric injections, vaccine delivery, and insulin delivery. The demand for needle free drug delivery was at peak in the segment of insulin delivery and is likely to remain the same over the next couple of years.
Developing Preference for Painless Delivery of Medicines to Bolster Sales of Needle-Free Drug Delivery Devices
The developing inclination for productive and easy conveyance of medications is driving the drug delivery market towards sans needle infusion systems. As these systems make utilization of a technology that is liquid drug delivery based and works viably with effectively accessible medication definitions, the advancement costs on these items are low. This has empowered various medicinal gadgets producers to put resources into needle free drug delivery devices, thus pushing the growth of the market.
What's more, the expanding need to avoid needle-stick wounds is probably going to empower the reception of needle free drug delivery devices fundamentally amid the conjecture time frame. The rising commonness of irresistible sicknesses, for instance, hepatitis, dengue, and AIDS, and different cardiovascular and neurological infections, which require ceaseless organization of medications, is additionally anticipated to make generous interest for these gadgets throughout the following couple of years. Needle free drug delivery devices are generally used for the organization of insulin in the human body. The insulin conveyance section has been driving the application portion since the most recent couple of years and is anticipated to stay predominant over the coming years.
Developing Regions to Provide ample Opportunities
Examiners anticipate North America to hold its predominance sooner rather than later but with a lessened piece of the overall industry. Asia Pacific, on the other side, is anticipated to rise as the speediest rising local market for needle free drug delivery in the coming years.
The developing pervasiveness of unending cardiovascular and neurological infections, the infrastructural advancement in the restorative and human services industry, and the expanding center of driving players in this area due to neglected medicinal need are required to help the reception of these gadgets in Asia Pacific extensively soon. These gadgets are additionally expected to encounter a solid ascent in their demand in the Middle East and Africa and Latin America because of the improvement of the human services situation in these areas throughout the following couple of years.
This review of the market is based on a recent market research report published by Transparency Market Research, titled, “Needle Free Drug Delivery Devices Market (Technology – Jet Injectors and Competing Needle-free Technology; Application – Vaccine Delivery, Pain Management, Insulin Delivery, and Pediatric Injections) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.”
The global needle free drug delivery devices market has been segmented as follows:
- Jet Injectors
- Competing Needle-free Technologies
- Novel Needle Technology
- Inhaler Technology
- Transdermal Patch Technology
- Vaccine Delivery
- Pain Management
- Insulin Delivery
- Pediatric Injections
- Other Applications
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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