Worldwide Leaders in the Needle Free Injector Market to 2026 Include Astrazeneca, Endo International and Crossject
DUBLIN, Sept. 7, 2021 /PRNewswire/ -- The "Global Needle Free Injector Market- Strategies and Market Share and Industry Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global needle-free injectors market is primarily driven by the increasing prevalence of chronic diseases and technological advancements.
In addition, demand for innovative and effective drug delivery platforms, owing to an increase in the prevalence of chronic diseases and rise of point-of-care are major factors triggering growth for the needle-free injectors market.
However, there are certain challenges such as the availability of alternative drug delivery platforms. For instance, in 2017, FDA approved the first digital pill that is sensor embedded and leads to track the ingestion of medications inside the body.
Moreover, in 2018, Rani Therapeutics (US) secured funding of $53 million from various investors that include GeneScience Pharmaceuticals (China) and Shire (Europe) for manufacturing robotic pills for clinical trials. The robotic pill developed by the company can inject drugs directly into the small intestine. This can emerge as a safe and pain-free alternative technology for the delivery of injectable drugs.
Thus, technological advancements and the new product launch in the needle-free injectors market is expected to drive market growth over the forecast period.
The global needle-free injectors market has been segmented based on application, site of delivery, end-user, type of medication, usability, product and technology. The technology segment is sub-segmented into jet injectors, spring, laser, vibration-based needle-free injectors.
Jet injectors is the leading segment in terms of revenue in the global needle-free injectors market with around 42% market share. The dominance of the jet injectors segment is primarily attributed to the introduction of novel jet injectors due to the rise in the prevalence of chronic diseases.
According to World Economic Forum (2017), 1 in 3 adults across the world has multiple chronic conditions such as diabetes, cardiovascular disease, cancer, depression etc. The high prevalence of these diseases is creating a demand for novel needle-free injectors. Moreover, spring-based needle free injector segment is anticipated to grow at the highest CAGR of around 15.2% during the forecast period. The fastest growth rate of the transdermal patch segment is contributed to by the emergence of novel technology.
Geographically, the needle-free injectors market has been segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). Asia Pacific is expected to grow at the highest CAGR of 15.3%. Asia Pacific needle-free injectors market growth is because of the rising prevalence of chronic diseases in countries such as China, India, etc. along with government support for the development of advanced drug delivery technologies. China holds the largest market share of around 34% in 2019 in Asia Pacific needle-free injectors market. High R&D investment by companies in the drug delivery technologies sector in China is boosting growth in needle-free injectors market owing to the high prevalence of cancer in the region.
The global needle free injector market is expected to have a CAGR of 16.1% during the forecast period 2019-2026. The key factors driving the market growth are the increasing incidence of chronic diseases, the rising incidence of communicable diseases due to needle stick injuries, the growing demand for self-injection devices and the advantages of drug delivery technology.
Geographically, North America accounts for the highest revenue share of the needle free injector market. The key factor contributing to the North American needle free injector market is increasing cases of chronic diseases such as cancer, Alzheimer's, stroke, etc. However, Europe is anticipated to emerge as the fastest growing market during the forecast period owing to rising demand for biologics in the European region.
The global needle free injector market is influenced by the presence of key market players such as Endo International PLC, Crossject, Astrazeneca, Asia Pharma Pharmaceutical ltd. etc. Product launch, joint venture, merger and acquisition are some of the crucial strategies adopted by the key market players to gain a competitive advantage.
The global needle free injector market report covers segmentation analysis of technologies, site of delivery, types of medication, usability, end users and applications. The report further covers segments of technology which include jet-based, laser-powered, spring-based and vibration-based needle free injectors. The jet based needle free injector is the dominating segment owing to its advantages over other technologies. The report further covers segments of site of delivery which include intra dermal injectors, intramuscular injectors and subcutaneous injectors. Types of medication include Liquid-based, Powder-based and Projectile/depot-based needle free injectors. Liquid based needle free injector is the leading medication segment as it is flexible to use. The end users of needle free injectors are hospital and clinics, home care settings, research laboratories and others.
Key Topics Covered:
1. Acknowledgment
2. Summary
3. Industry Outlook
4. Market Share Analysis
5. Regulatory Landscape: Needle Free Injector
6. Analysing Needle Free Injector
7. Analysing Needle Free Injector Cross Borders
8. Competitive Landscape
9. Patent Analysis
10. Company Profiling
Companies Mentioned
- Activa Brand Products, Inc
- Antares Pharma, Inc.
- Bioject Medical Technologies Inc.
- Crossject SA
- Endo International plc
- European Pharma Group
- INJEX Pharma AG
- Medical International Technology, Inc.
- National Medical Products Inc.
- PenJet Corporation
- PharmaJet
- Valeritas, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/7leywb
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