Needle Free Injection Systems Market Competition Landscape, Objective of the Report, Trends and Opportunities 2027
Needle Free Injection Systems Market Is Expected To Reach USD 317.59 Million By 2027 At A CAGR Of 16.97 percent.
Maximize Market Research has published a report on the Needle Free Injection Systems Market that provides a detailed analysis for the forecast period of 2022 to 2027.
Needle Free Injection Systems Market Scope:
The research provides in-depth market insights for industry participants, covering historical, present, and future developments of the sector as well as projected market size and trends. It also provides a concise explanation of complicated market data. Every industrial sector is examined, with a focus on well-known companies such market leaders, underachievers, and recent arrivals. The pamphlet contains the entire PESTLE analysis for each nation. Since it offers a thorough understanding of the competitive environment of the leading companies in the Needle Free Injection Systems Market by goods and services, revenue, financial state, portfolio, growth strategies, and geographic presence, the study is valuable as an investor’s guide.
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Needle Free Injection Systems Market Overview:
Historically, injections and needles have been used to provide medications to humans. However, a brand-new idea known as Needle Free Injection Technology (NFIT), which incorporates a variety of drug delivery devices, has just been presented to the market. In this method, medications are administered via the skin by means of shock waves, gas pressure, or electrophoresis. This method does not involve the use of a hypodermic needle because it forces the medicine through the skin.
These NFIT devices is categorised depending on factors including how they operate, how drugs are delivered to the body, where they are delivered, and what kind of loads they are designed to handle. We administer highly viscous medication items more easily using these methods than with conventional needle and syringe systems. This technology helps build a better world in addition to the pharmaceutical sector. By using this technology, eliminate a number of other problems, such as the potential for needle stick injuries and complications brought on by the repeated use of a single needle. This method is also highly helpful in large vaccination campaigns. These devices be utilised to administer medication to the most delicate body parts, such the cornea and others, without causing any pain to the patients.
Needle Free Injection Systems Market Dynamics:
Because of improvements in healthcare systems and the availability of and need for complex surgical operations, such as cardiology & transplant surgery, trauma treatment, and therapy for cancer and blood illnesses, there is an increase in the need for donated blood. Around 235 million major surgeries are carried out year on average around the globe, of which 63 million are trauma procedures, over 31 million are cancer-related, and 10 million are connected to pregnancy issues. In order to prepare for trauma, congenital maternal blood abnormalities in children, acute anaemia, and other complications during labour and delivery, blood transfusions are typically advised.
The rising diabetes rates have increased the demand for self-injection systems, which Needle Free Injection Systems successfully satisfy. Increasing demand for self-medication is driving the market’s growth. The prevalence of chronic diseases is also rising, as is the use of injectable medications for therapy, which is driving the market for needle-free injection systems. The injectable system has a number of advantages over oral drug delivery systems, and because of its quick start of action and high bioavailability, it is often used in urgent situations to provide speedier relief.
Additionally, needle free injection devices restrict the medications more uniformly in the dermis throughout the skin and do not cause pain during delivery. Additionally, they assist reduce the risk of infection. Therefore, benefits over traditional needle systems are fueling the market’s growth for needle free injection systems.
However, it is expected that the market’s growth be constrained by the high manufacturing costs associated with Needle Free Injection compared to traditional needles. Despite this, improvements in healthcare, such as prefilled needleless injections, are expected to reduce errors and create profitable business prospects. Additionally, the current global COVID-19 outbreak has created enormous growth opportunities for the market.
Needle Free Injection Systems Market Regional Insights:
The needle-free injection market was dominated by North America, which held a 58 percent market share, followed by Europe, the Asia Pacific (APAC), Latin America, the Middle East, and Africa. However, throughout the projected period, the APAC region is expected to develop at the highest CAGR of 18.7 percent. Growing investments by major market players in the region, an ageing population, rising life expectancy, rising per capita income, the growth of private hospitals & clinics to rural areas, the availability of low-cost labour for manufacturing, the presence of a favourable regulatory environment, and rising demand for self-injectable devices testing are all factors that are assisting market growth in the APAC region.
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Needle Free Injection Systems Market Segmentation:
- Fillable Needle-Free Injectors
- Prefilled Needle-Free Injectors
- Liquid-based needle free injectors
- Powder-based needle free injectors
- Projectile & depot-based needle free injectors
- Vaccine Delivery
- Insulin Delivery
- Pain Management
- Other Application
- Hospitals and Clinics
- Homecare Settings
- Research Laboratories
- Pharmaceutical & Biotechnology companies
- Other End Users
Needle Free Injection Systems Market Key Competitors:
- Antares Pharma
- Endo Pharmaceuticals Inc
- Bioject Medical Technologies Inc
- Medical International Technology, Inc
- INJEX Pharma AG
- National Medical Products Co. Ltd.
- Valeritas, Inc
- Portal Instruments
- Amico Group
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Source: Digital Journal