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

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.

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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: Increasing Incidence of Needle Stick Injuries Globally Making Needles Needless in Future

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.”