Needle Free Drug Delivery Devices Market : Opportunities and Forecasts by 2023
Drug delivery plays a vital role in human health care. Needle free drug delivery devices are novel drug delivery devices to inject drugs into a patients’ body without invading the skin tissue with a conventional needle. The first needle free injection systems were developed in the 1940s and 1950s for the U.S. soldiers. These are now poised to become mainstream. Lesser pain and stress; elimination of the need for needle disposal, consistency in drug delivery, and zero risk of broken needles are the major advantages of needle free drug delivery devices over conventional drug delivery devices. Hence, the global needle free drug delivery devices market is likely to witness strong growth during the forecast period from 2015–2023. However, high start-up cost and requirement for training and maintenance are some of restraints of the market.
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The global needle free drug delivery devices market has been segmented based on technology and application of devices. Based on technology, the market has been segmented into jet injectors and competing needle-free technologies. The competing needle-free technologies segment accounted for the highest share of the market in 2014. However, the jet injectors segment is expected to grow at a higher rate during the forecast period due to rising incidence of needlestick injuries. Additionally, continuous evolution in jet injector technology is anticipated to drive the market during the forecast period. Novel needle technology, inhaler technology, and transdermal patch technology are included in the competing needle-free technologies segment. The novel needle technology sub-segment accounted for the highest share of the competing needle-free technologies segment in 2014. However, the transdermal patch technology segment is likely to witness highest growth rate during the forecast period. Controlled drug delivery and elimination of pre-systemic metabolism are the major factors driving the transdermal patch technology segment. Based on application, the market has been segmented into vaccine delivery, pain management, insulin delivery, pediatric injections, and others. The insulin delivery segment accounted for the largest share of the market in 2014. The segment is expected to maintain its leadership position during the forecast period. However, the pediatric injections segment is likely to grow at the highest rate during the forecast period due to public awareness and government initiatives for pediatric vaccination.
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Geographically, the needle free drug delivery devices market has been classified into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the global needle free drug delivery devices market in 2014. The region is expected to maintain its market position during the forecast period from 2015 to 2023. This is due to high awareness about novel drug delivery systems, presence of major key players, and high investment in research and development activities. However, Asia Pacific is likely to witness the highest CAGR during the forecast period due to increase in health care infrastructure and distribution strategies adopted by the market players. Europe accounted for the second largest share of the market in 2014 due to high geriatric population that would increase demand for convenient drug delivery options. Latin America is likely to record the second highest growth during the forecast period due to rising prevalence of chronic diseases, improving health care scenario, and growing investment by leading players.
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The needle free drug delivery devices market is consolidated. However, Zogenix, Inc., 3M, and Antares Pharma, Inc. dominated the global market in 2014. Other players operating in the market are Glide Pharmaceutical Technologies Ltd., Injex Pharma AG, and Pharmajet, Inc. Partnerships and novel distribution strategies of the leading companies would help boost market growth during the forecast period. In March 2013, Zogenix, Inc. and Battelle extended their co-marketing partnership for the DosePro needle-free drug delivery system through March 29, 2014.
Table of Content
2. Executive Summary
3. Needle Free Drug Delivery Devices Market – Industry Analysis
4. Market Segmentation – By Technology
5. Market Segmentation – By Application
6. Market Segmentation – By Geography
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