SAN FRANCISCO, June 6, 2016 /PRNewswire/ -- The global needle free drug delivery devices market is expected to reach USD 14.6 billion by 2024, according to a new report published by Grand View Research, Inc. The increasing prevalence of chronic diseases such as Hepatitis B, Hepatitis C, and AIDS due to the extensive use of injections is a potent driver of the needle-free drug delivery devices market.
Additionally, the rising need for self-administration of drugs as in the case of diabetes and pain-free drug delivery have consequentially boosted the industry share of needle-free drug delivery devices.
Moreover, controlled dosing ability, minimal damage to skin and rapid drug administration are the key associated benefits driving the physician preference thereby fueling the demand for the market. Furthermore, the increasing focus on the development of portable delivery devices has a high, positive impact on the needle-free drug delivery devices market.
These aforementioned advantages related to needle-free drug delivery devices are expected to serve as key driving factors spurring the growth of the needle-free drug delivery devices market over the forecast period.
Access full research report at: http://www.grandviewresearch.com/industry-analysis/needle-free-drug-delivery-devices-market
Further key findings from the study suggest:
- Jet injectors dominated the technology segment with a market share of over 30.0%, with respect to revenue in 2015, owing to its high usage rate and wide applicability in delivering a large range of drugs
- On the basis of application, the insulin delivery devices segment held the largest share of over 33.0% in 2015 owing to the high demand for painless insulin delivery by patients coupled with the requirement of insulin at regular intervals in diabetic patients, thus facilitating the growth of this segment. As per the WHO, the global diabetes prevalence is rising at a rate of 8.5%, thereby propelling the demand for needle-free insulin delivery devices.
Grand View Research has segmented the needle free drug delivery devices market on the basis of technology, application and region:
- Technology outlook (Revenue, USD Million, 2014 - 2024)
- Jet injectors
- Inhaler technology
- Transdermal patch technology
- Novel needle free technologies
- Application outlook (Revenue, USD Million, 2014 - 2024)
- Vaccine delivery
- Pain management
- Insulin delivery for diabetes
- Pediatric injections
- Regional outlook (Revenue, USD Million, 2014 - 2024)
- North America
- Asia Pacific
- Latin America
- South Africa
- North America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
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SOURCE Grand View Research, Inc.