Global Needle Free Injection Systems Market, Who are the key vendors in this market space?

November 15 21:22 2017
The global needle-free injection systems market is divided on the basis of product, application, and region. Based on product, the market is segmented into powder-, liquid-, and projectile/depot-based. Key areas of application are insulin delivery, vaccine delivery, pain management, and oncology. Demand for these injection systems in vaccine delivery is projected to remain high through 2022.

Global needle-free injection systems market holds immense potential. Demand for needle-free injection systems has increased considerably in recent times as they eliminate risks of needles, enhance immune response to vaccines, and cut down healthcare costs. The needle-free injection systems market is poised to witness steady growth in terms of revenue over the forecast period (2011 to 2021).

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Widening base of population suffering from chronic diseases such as diabetes, cancer, and cardiovascular diseases can stoke the growth of the market. The World Health Organization indicates that the number of deaths caused by diabetes and cancer in 2015 was 1.6 million and 8.8 million respectively. Frequent need for medicine intake through injections is likely to promote the adoption of needle-free injection systems among patients suffering from chronic diseases. The factor is also subsequently fueling the demand for vaccination and biosimilars, which in turn is anticipated to drive the market.

Rising awareness regarding the merits of needle-free injection systems is anticipated also augur well for the market. They enable better reproducibility and faster drug delivery as compared to conventional injection systems. Additionally, they eliminate the needle phobia and allow self-administration of drugs. Moreover, growing incidence of communicable diseases due to increasing cases of needlestick injuries can provide an upthrust to the market. Besides this, soaring adoption of self-injection devices is poised to positively impact the market during the forecast period.

On the other hand, higher cost of development of needle-free injection systems in comparison with invasive drug delivery systems can limit the market from realizing its utmost potential. Dearth of trained professionals is also expected to hamper growth prospects. Strong presence of alternate drug delivery systems along with strict regulations pertaining to the usage of these injection systems for intravenous procedures can inhibit market growth. Nevertheless, emerging countries are estimated to offer ample growth opportunities in coming years, due to improving healthcare infrastructure.

By region, the needle-free injection systems market is classified into Europe, North America, India, China, Japan, and Southeast Asia. North America may emerge as the key revenue contributor in the global arena. The regional growth of the needle-free injection systems market can be attributed to spiraling demand for self-administration drug delivery systems along with heightened awareness regarding advantages of needle-free injection systems. Rising prevalence of chronic diseases is also one of the primary growth stimulants of the market.

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Europe needle-free injection systems market is anticipated to register a noteworthy growth in coming years. Conducive reimbursement scenario, technological advancements, and increasing regulatory approvals are some of the factors contributing to the regional growth. Apart from this, rising healthcare expenditure and burgeoning demand for biosimilars are expected work in favor of the region. Asia Pacific is also likely to be a highly promising market, with high awareness regarding the merits of needle-free injection systems.

The majority of players in the needle-free injection systems market are seeking long-term partnerships and contracts with pharma companies. For instance, in March 2017, National Medical Products received a contract from Vizient, Inc. for its J-Tip Needle Free Injection System. Some of the prominent companies in the market are Antares Pharma, Pharmajet, Valeritas, Crossject, and Injex Pharma AG.

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