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Needle-free Injection System Market (Technology - Jet, Spring, and Micro-array Patch; Product - Prefilled, and Fillable; Type of Medication - Liquid, and Powder; Application - Vaccination, and Dermatology; End-user - Hospital, and Homecare): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Needle-free Injection System Market (Technology - Jet, Spring, and Micro-array Patch; Product - Prefilled, and Fillable; Type of Medication - Liquid, and Powder; Application - Vaccination, and Dermatology; End-user - Hospital, and Homecare): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Report Code: HC08766 Category: Healthcare & Medical Devices Published: August, 2022

A recent report published by Infinium Global Research on the needle-free injection system market provides an in-depth analysis of segments and sub-segments in the global as well as regional needle-free injection system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional needle-free injection system market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global needle-free injection system market. According to the report, the global needle-free injection system market is projected to grow at a CAGR of over 16% over the forecast period of 2022-2028.

 

Market Insight

The revenue of the needle-free injection system market in 2022 was nearly USD 16 billion which is expected to reach over USD 39 billion by 2028 growing with a CAGR of over 16%. Needle-Free Injection Technology (NFIT) is the new concept introduced in the market, a wide range of drug delivery systems. Traditionally drugs are released into the human body using needles and injections, but this new concept has changed the entire drug delivery system. In the needle-free injection technology, the drugs are delivered through the skin using forces like shock waves, pressure by gas, or electrophoresis. Furthermore, needle-free injection technology is free from hypodermic needle because these techniques or influences propels the drug through the skin. Moreover, NFIT devices are classified on the parameters such as their working, drug delivery mechanism, site of drug delivery in the body, and type of load. This technique is beneficial in mass immunization programs because it does not inflate any pain to the patients and can deliver drugs to the most sensitive body parts such as the cornea and others. Also, this technique has some limitations, like it can be used after proper training and requires proper maintenance.

 


Needle-free Injection System Market


There is a significant increase in demand for biologics (large-molecule drugs) due to the growing prevalence of chronic diseases. But most large-molecule drugs are still administered through injectables. An injectable system has many advantages. It is relatively fast and safe, site-specific delivery of drugs, low drug dosage requirement, reduced hospital stays, better reproducibility, ease of use, and more. Furthermore, due to the growing prevalence of infectious and chronic diseases, there is an increase in the demand for and development of needle-free injection systems, which is expected to drive market growth to a considerable extent over the forecast period. However, the overall development cost of a needle-free injection system is relatively higher due to the additional associated costs, such as high infrastructural and labor costs, which can hamper the market’s growth. Also, there are some limitations with large volume and intravenous administration systems, which are anticipated to limit market growth over the forecast period. Nevertheless, the rising demand for biosimilars and vaccination processes and the increasing number of emerging markets can provide exponential opportunities.

 

The whole needle-free injection system market has benefited from the COVID-19 epidemic. Since the start of the pandemic outbreak in December 2019, self-injectable devices have been the focus of mass immunization efforts. Most needle-free market participants have made R&D investments throughout the epidemic and entered into collaborations and agreements with other businesses and governmental entities to create a needle-free injection system.

 

North America accounted for a significant share of the needle-free injection market and dominated the market in 2020. However, due to the rapidly developing healthcare industry in China and India, growth in the aging population, rising life expectancy, rising per capita income, increasing investments in the region by key market players, the expansion of private-sector hospitals & clinics to rural areas, the availability of low-cost labor for manufacturing, the presence of a favorable regulatory environment, and growing demand for self-injectable devices testing, APAC is expected to grow at higher CAGR.

 

Segment Covered

The report on the global needle-free injection system market covers segments such as technology, product, type of medication, application, and end-user. On the basis of technology, the sub-markets include jet, spring, and micro-array patch. On the basis of product, the sub-markets include prefilled, and fillable. On the basis of type of medication, the sub-markets include liquid, and powder. On the basis of application, the sub-markets include vaccination, and dermatology. On the basis of end-user, the sub-markets include hospital, and homecare.

 

Companies Profiled:

The report provides profiles of the companies in the market such as PharmaJet, Portal Instruments, Medical International Technology, Inc, NuGen Medical Devices, Crossject SA, Bioject Medical Technologies, National Medical Products Co. Ltd., Amico Group, Inovio Pharmaceuticals, Inc., and InsuJet.

 

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the needle-free injection system market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.


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