September 01, 2022 06:31 ET | Source: The Insight Partners The Insight Partners
New York, Sept. 01, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Needle-Free Injection System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (Fillable Needle free Injectors and Prefilled Needle free Injectors), Technology (Jet-Based Needle free Injectors, Spring-Based Needle free Injectors, Microarray Patch Injectors, and Others), Type (Liquid-Based Needle free Injectors, Projectile-based Needle free Injectors, and Powder-Based Needle free Injectors), Usability (Disposable and Reusable), Site of Delivery (Subcutaneous Injectors, Intramuscular Injectors, and Intradermal Injectors), Application (Vaccine Delivery, Insulin Delivery, Oncology, Pain Management, Dermatology, and Others), and End User (Hospitals, Home Care Settings, Research Laboratories, Pharmaceutical & Biotechnological Companies, and Other End User)”, the global needle-free injection system market size is expected to grow from USD 131.64 million in 2021 to USD 411.31 million by 2028; it is estimated to grow at a CAGR of 17.7% from 2022 to 2028.
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Needle-Free Injection System Market Report Scope & Strategic Insights:
Needle Free Injection System Market: Competitive Landscape and Key Developments The global needle free injection system market includes key players such as Crossject; INOVIO Pharmaceuticals; Zealand Pharma A/S; PharmaJet; Portal Instruments; Medical International Technologies (MIT Canada) Inc.; NuGen Medical Devices; Ferring B.V.; National Medical Products, Inc.; and Aijex Pharma International Inc. These players are focusing on expanding, diversifying their market presence, and acquiring a novel customer base, thereby tapping prevailing business opportunities.
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In June 2022, NuGen Medical Devices Inc., a leader in needle free drug delivery, announced that the company will launch a needle free injection device specifically designed for domesticated household pets. The PetJet will allow pet owners and veterinarians to safely and quickly inject various types of medication without the fear of hurting their pets with a traditional hypodermic needle.
In October 2020, PharmaJet, the maker of innovative, needle free injection technology, announced that its Stratis Needle-free Injection System was used to deliver a vaccine against SARS-CoV-2 in a clinical trial in Australia. The PharmaJet System was chosen due to its record of increasing the efficacy of DNA vaccines and speed of the delivery system compared to traditional needles and syringes.
Liquid-Based Needle Free Injectors Segment to Lead Needle-Free Injection System Market During 2022–2028: The report highlights the key factors driving the market and prominent players with their developments. The growth of the needle free injection system market is primarily attributed to the increasing incidence of communicable diseases due to needlestick injuries (NSIs) and the advantages of using self-injection devices. However, higher development costs of needle free injectors compared to conventional injection systems are hindering the growth of the market.
In 2021, North America dominated the needle free injection system market. The US is one of the major countries mainly attributed to the rise in the development of noninvasive needle free injection system devices and the exponential rise in the infectious diseases caused due to NSIs. For instance, according to the Occupational Safety and Health Administration (OSHA), in 2020, ~5.6 million healthcare personnel in the US were at risk of work-related exposure to blood-borne pathogens via needlestick or other sharps-related injuries. Further, 44% of all NSIs are caused in operating rooms, followed by 26% in patient rooms and 8% in emergency rooms and outpatient clinics, respectively.
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Further, market players are adopting organic and inorganic strategies for market development, such as advanced product launches. For instance, in June 2022, NuGen Medical Devices Inc. announced the launch of a new online brand store for its InsuJet needle free injection device. The brand store is now live to make InsuJet available for purchase in the European Union (EU).
Rising Demand for Vaccines and Biosimilars: The use of biosimilars is increasing in the treatment of various ailments such as cancer, hepatitis, diabetes, and several other acute and chronic diseases. With the rising prevalence of these illnesses, the need for biosimilars is also increasing, which is presenting a huge opportunity for pharmaceutical & MedTech manufacturers to develop innovative delivery solutions for biosimilars. As several biosimilars and vaccines are administered through injections, the use of needle free injection technology can provide an easy-to-use and safe method for administering biosimilars without a traditional injection apparatus or skilled staff. Further, many biopharmaceutical manufacturers, vaccine companies, and needle free device manufacturers are entering into strategic acquisitions and collaborations to leverage the growth potential in the vaccine market. Therefore, the launch of effective and safe drug delivery devices using needle free injection technology is expected to boost the market growth in the coming years. For instance, in January 2019, Enesi Pharma and Geovax collaborated on multiple vaccines administered using Implavax needle free injection devices. Furthermore, in August 2021, PharmaJet partnered with Zydus Cadila for the world’s first plasmid DNA COVID-19 vaccine delivery via needle free injection. In addition, the company partnered with Abnova to produce and supply the COVID-19 mRNA vaccine using needle free injection technology. Thus, all these factors encouraging the ease-to-use benefit of these injectors will provide more opportunities for the companies to develop innovative products, which is expected to boost the growth of the needle free injection system market. Many patients have a phobia for needles, which has led to the low demand for injectable devices; as a result, many companies are now aiming to develop needle free injectors with effective and painless solutions.
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Needle Free Injection System Market: Segmental Overview Based on product, the global needle free injection system market is bifurcated into fillable needle free injectors and prefilled needle free injectors. In 2021, the fillable needle free injectors segment accounted for a larger market share. However, the prefilled needle free injectors segment is anticipated to register a higher CAGR from 2022 to 2028.
Based on technology, the global needle free injection system market is segmented into jet-based needle free injectors, spring-based needle free injectors, microarray patch injectors, and others. The jet-based needle free injectors segment held the largest market share in 2021 and is expected to register the highest CAGR during the forecast period.
Based on type, the global needle free injection system market is segmented into liquid-based needle free injectors, projectile-based needle free injectors, and powder-based needle free injectors. The liquid-based needle free injectors segment held the largest market share in 2021. However, the projectile-based needle free injectors segment is expected to register the highest CAGR during the forecast period.
Based on usability, the global needle free injection system market is bifurcated into disposable and reusable. The reusable segment held a larger market share in 2021. However, the disposable segment is expected to grow with a higher CAGR during the forecast period.
Based on site of delivery, the global needle free injection system market is segmented into subcutaneous injectors, intramuscular injectors, and intradermal injectors. The subcutaneous injectors segment held the largest market share in 2021, and it is expected to register the highest CAGR during the forecast period.
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Based on application, the global needle free injection system market is segmented into vaccine delivery, insulin delivery, oncology, pain management, dermatology, and others. The vaccine delivery segment held the largest market share in 2021, and it is expected to register the highest CAGR during the forecast period.
Based on end user, the global needle free injection system market is segmented into hospitals, home care settings, research laboratories, pharmaceutical and biotechnology companies, and other end users. The hospitals segment held the largest market share in 2021, and it is expected to register the highest CAGR from 2022 to 2028.
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