Kalorama: Needle-Free Drug Delivery Market Reaches $1.3 Billion
NEW YORK, July 20, 2016 /PRNewswire/ -- According to Kalorama Information, the worldwide needle-free drug delivery market grew to $1.3 billion in 2015. Novel, painless, patient-friendly methods of drug delivery have represented an unmet need in the field of health care. The needle-free drug delivery market is growing rapidly as the development of better delivery systems in conjunction with the discovery of novel pharmacological compounds leads to significant improvements in drug delivery. There will likely be significant increases in revenues of needle-free delivery of injectable medications, especially in the vaccine arena and various other disease treatment areas. The healthcare market research firm's report, The Market for Needle-Free Drug Delivery Systems, details the types of drug delivery systems and technologies that are being used in 2016, as well as those that may become major market factors by 2020.
The Market for Needle-Free Drug Delivery Systems can be found at Kalorama Information: http://www.kaloramainformation.com/Needle-Free-Drug-10177699/.
"The move in the industry is to greatly capitalize on needle-free delivery for mass vaccinations possibly needed for pandemic vaccinations that eliminate possibilities of contamination and infection," said Bruce Carlson, Publisher of Kalorama Information. "Also, a significant problem in the industry is needlestick injuries.
In 2000, the Federal Needlestick Safety and Prevention Act was enacted, which led to increased adoption of safety equipment and other measures designed to protect healthcare personnel from needlestick injuries. However, despite federal regulations and compliance measures, there are still many needlestick injuries each year. The Occupational Safety and Health Administration (OSHA) estimates that about 5.6 million workers in the U.S. healthcare industry are at risk for unintentional needlesticks. There are approximately 385,000 needlestick injuries each year sustained by hospital-based healthcare personnel – averaging about 1,000 sharps injuries occurring every day in U.S. hospitals. Another 600,000 healthcare workers suffer needlestick injuries in non-acute healthcare facilities in the U.S. each year.
This is a significant number of injuries just in the U.S., but it is worse worldwide. A World Health Organization (WHO) report notes that 35 million healthcare workers experience percutaneous exposures to infectious diseases each year. Approximately 37.6% of Hepatitis B, 39% of Hepatitis C and 4.4% of HIV/AIDs patients diagnosed with those diseases are due to needlestick injuries. Further, the WHO reports that over 3 million healthcare workers experience needlestick injuries and possible exposure to infectious diseases. However, 40%-70% of needlesticks are never reported, so the total number of worldwide unintentional needlesticks is likely much higher.
Worldwide, approximately 40 billion injections are given each year. A staggering 40% of injections are given unsafely, ultimately resulting in 1,300,000 deaths annually from complications. Africa and India have abnormally high rates of HIV and 62.9% of injections in India were performed unsafely.
Needlestick injuries also are costly to the healthcare system. Direct costs for testing and follow-up treatment of healthcare personnel can amount to over $5,000 depending on the treatment needed. According to the American Hospital Association, one case of serious infection by bloodborne pathogens can soon add up to $1 million or more in expenditures for testing, follow-up, lost time, and disability payments.
The healthcare industry has done a good job of establishing guidelines and protocols to protect workers and prevent needlesticks, but it continues to be a significant issue. Development and widespread use of needle-free drug delivery technology would mitigate the number of needlestick injuries and prevent after the fact expenditures. Although cost has been an issue for needle-free devices initially, it would seem that it would pay for itself in the reduction of needlestick injuries to healthcare personnel and the reduction of direct costs for testing and treatment after a needlestick incident.
The Market for Needle-Free Drug Delivery Systems describes the industry, its relationship to various healthcare channels, and the trends for the future. As part of its extensive coverage, the report provides the following information: market estimate and forecast by technology (jet, other), market estimate and forecast by application (insulin, vaccine, pediatric, pain, other ), needle-free products on the market, cost per million injections by injector type, seven important conclusions about the market, and profiles of injectable/implantable and needle-free drug delivery companies.
The geographic scope of the report is worldwide. In terms of products, the report includes data on needle-free delivery, including nasal and specialized transdermal and intradermal delivery of products that would normally be delivered by injection only.
The research conducted by Kalorama included comprehensive research of secondary sources such as company literature, databases, investment reports, and medical and business journals. New technologies, market developments, and research and development trends and expenditures were identified through patent and database searches, as well as via interviews with key personnel. Person-to-person and telephone interviews were the primary method of gathering information. E-mail correspondence was also used in the interview process. Interviews with key industry officials, trade association spokespersons, consultants, healthcare providers, and government personnel were compiled to form the primary basis of information — particularly revenue and market share data—presented in this report.
All market data pertain to the worldwide market at the manufacturers' level and are measured in U.S. dollars. The base year for data was 2015. Historical data are provided for 2011 through 2015, with forecast data provided for 2015 through 2020. Compound annual growth rates are provided for three periods: 2011–2015, 2015–2020, and 2011–2020.
The Market for Needle-Free Drug Delivery Systems can be found at Kalorama Information: http://www.kaloramainformation.com/Needle-Free-Drug-10177699/.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.
We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog at www.kaloramainformation.com.
Contact:
Bruce Carlson
(212) 807-2622
[email protected]
www.KaloramaInformation.com
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SOURCE Kalorama Information
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