(PharmaNewsWire.Com, August 19, 2020 ) Growth in this market is mainly driven by growing prevalence of chronic disease, increasing incidence of communicable disease due to needle stick injuries, rising demand for biosimilars and vaccination, advantages of drug delivery technology, increasing demand for self-injection devices. On the other hand, high development cost of needle-free injection systems over the conventional needle injection may hinder the growth of this market during the forecast period.
The global needle-free injection system market, in terms of value, is projected to reach USD 20.17 Billion by 2021 from USD 9.81 Billion in 2016, at a CAGR of 15.5% during the forecast period.
COVID -19 IMPACT ON THE Needle-Free Injection System Market
Several countries across the globe have seen non-urgent diagnostic imaging surgeries being postponed due to the pandemic. These procedures utilize additional resources and increase the risk of complications; depending on the procedure, they also increase the chance of needing equipment, resources, or materials such as hospital beds and PPE.
Global Needle-Free Injection System Market is Segmented on:
1. Product 2. Technology 3. Usability 4. Type of Medication 5. Delivery Site
Based on the technology, the market is divided into Jet-based needle-free injectors, spring-based needle-free injectors, laser-based needle-free injectors and vibration-based needle-free injectors. The jet-based needle-free injector is expected to account for the largest market share in 2016, due to their advantages over the other injector systems.
By modality, the radiation dose management market is segmented into computed tomography (CT), fluoroscopy & interventional imaging, mammography, and nuclear medicine. The computed tomography segment accounted for the largest market share in 2019. The large share of this segment can be attributed to the increasing number of CT examinations worldwide and the rising awareness of radiation dose exposure.
Based on the type, the market is segmented into Liquid-based, projectile-based, powder-based needle-free injectors. The liquid-based needle-free injectors segment is projected to be the fastest-growing segment during forecast period in 2016. The advantages of this mode of delivery have drawn the attention of a number of market players.
The geographical regions mapped in the report are:
North America is expected to dominate the market in 2016, with the U.S. accounting for a major share. However, Europe is expected to grow at the highest CAGR during the forecast period. The high growth in this market is attributed to the rising demand for biologics, growing prevalence of chronic diseases, technological advancements, mergers and acquisitions by major companies in the market, favorable reimbursement policies, increasing healthcare expenditure and regulatory approvals of new injection system are key factors driving the market growth in Europe.
Some key players mentioned in the research report are:
The needle-free injection system market is fragmented with several global as well as local players. Players in this market offer several detectors across different subsegments of this market. Key players in this market include Antares Pharma, Inc. (U.S.), Endo International plc (U.S.), PharmaJet (U.S), Bioject Medical Technologies Inc. (U.S), Medical International Technology, Inc. (U.S), INJEX Pharma AG (Germany), National Medical Products Inc. (U.S.), Valeritas, Inc. (U.S.), European Pharma Group (Netherland), PenJet Corporation (U.S), Crossject SA (France).
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