Dublin, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The "Needle Free Injections - Global Market Insights, Competitive Landscape, and Market Forecast - 2028" report has been added to ResearchAndMarkets.com's offering
The global needle-free injection systems market, valued at USD 12.49 billion in 2022, is projected to experience substantial expansion with a Compound Annual Growth Rate (CAGR) of 14.16% during the forecast period from 2023 to 2028, reaching a valuation of USD 27.65 billion by 2028.
This market growth is attributed to factors such as the escalating prevalence of chronic diseases, increasing incidents of needle-stick injuries, surging demand for self-injection devices, expanding vaccination programs, and advancements in product development technology.
Needle-Free Injections Market Dynamics
Needle-free injection technology spans a wide range of drug delivery systems that enable the administration of medications through the skin using pressure, eliminating the need for hypodermic needles. The growth of the needle-free injection market is driven by the alarming rise in needle-stick injuries among patients and healthcare workers. Globally, over two million occupational exposures to sharp injuries occur among 35 million healthcare workers annually, as reported by the World Health Organization (2019).
Needle-stick injuries carry the risk of transmitting more than 20 types of blood-borne infectious diseases, including HIV, hepatitis C, and hepatitis B. The demand for needle-free injection systems is rising due to the safe administration of drugs, improving the safety of healthcare providers, caregivers, and patients alike. Additionally, the prevalence of chronic diseases like diabetes contributes to the market growth.
Diabetes Prevalence and Vaccination Programs Boost Demand
The global diabetic population is increasing, necessitating regular administration of insulin. Needle-free injections offer virtually painless insulin delivery, improving treatment adherence and compliance. Moreover, the focus on COVID-19 vaccination programs has spurred demand for needle-free injection devices, as pharmaceutical companies partner with manufacturers to expand their reach.
However, the needle-free injection market faces challenges such as training and device maintenance requirements, limitations in administration routes, and design size variations.
Needle-Free Injections Market Segment Analysis
In the needle-free injections market's application segment, insulin delivery needle-free injections are expected to account for a significant share during the forecast period. The rising global diabetic population drives the demand for insulin delivery systems. Conventional syringes and needles can be daunting for diabetes patients requiring multiple doses of insulin daily. Needle-free injection devices facilitate easy and virtually painless insulin administration, boosting treatment adherence.
North America Leads the Needle-Free Injections Market
North America is anticipated to dominate the global needle-free injections market, attributed to a higher prevalence of chronic diseases, vaccination program emphasis, and advanced healthcare infrastructure. With significant market players in the region, North America benefits from partnerships in vaccination campaigns. The region's well-established healthcare system and awareness among patients encourage the adoption of needle-free injection systems.
Key Players and Recent Developments
Key players in the global needle-free injection systems market include
- IntegriMedical LLC
- INJEX Pharma GmbH
- PharmaJet Corporation
- CrossJect
- European Pharma Group BV
- National Medical Products Inc
- Akra DermaJet
- Meika Medical Co
- Basco India
- Mystic Pharmaceuticals Inc
- Technologies Medicales Internationales (MIT Canada) Inc.
- INOVIO Pharmaceuticals
- MADA MEDICAL PRODUCTS INC.
- Portal Instruments
- D'Antonio Consultants International, Inc
Recent developments in the market include PharmaJet and Zydus Cadila's Emergency Use Authorization (EUA) for ZyCoV-D, the world's first Plasmid DNA Vaccine for COVID-19, administered using the PharmaJet Tropis Needle-Free Injection System.
Market Outlook and Opportunity Analysis
The needle-free injection systems market presents ample growth opportunities, driven by the demand for safer drug delivery methods and the increasing prevalence of chronic diseases. As the focus on vaccination programs and technological advancements continues, the market is poised for remarkable growth.
For more information about this report visit https://www.researchandmarkets.com/r/rzqonz
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
