Market Scope
Market Research Future (MRFR) anticipates strong growth for the needle free injection market 2020 as it is set to touch USD 25,057.4 million by 2023. The market could advance at a significant rate over the evaluation period (between 2018 and 2023). We will provide COVID-19 impact analysis with the report, along with all the extensive key developments in the market post the coronavirus disease outbreak.
Main Drivers and Top Deterrents
The COVID-19 outbreak has overwhelmed the healthcare industry, with various firms striving to boost their RD-based efforts to fast develop a vaccine. However, vaccine is only one aspect of the big issue, the key challenge lies in the way to administer the vaccine. The situation has thrown light on the importance of the pain saver technology or needle-free injection. The devices that were used earlier to administer various drugs have now undergone various enhancements, making them more secure, more reliable and efficient.
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Needle stick injuries are the major causes of transmission of several blood-borne diseases like hepatitis C, Human Immunodeficiency Virus/HIV, Acquired Immune Deficiency Syndrome/AIDS and hepatitis B. At present, now the SARS-CoV-2 pandemic has been added to the list, as a result of which needle-free injections have gained even more traction in the healthcare industry. The entire process of needle free injection takes only 0.5 seconds or less, and the time saved is extremely crucial when it comes to finding the novel coronavirus vaccine.
Despite the lockdown across countries, technological innovations in relation to pain-free drug self-administration and transportation have been quite frequent, benefitting the global market. Various firms and researchers are constantly on the lookout for painless techniques that facilitate needle free drug delivery. To illustrate, in August 2020, a researchers’ team from Singapore (NTU Singapore), Agency for Science, Technology and Research and Nanyang Technological University has created a technique to deliver drugs that involves application of temporal pressure. This development can result in painless transdermal drug delivery such as insulin.
Segmental Review
Product type, technology, usability, medical type, site of delivery, application and end-users are listed as the main segments according to which the needle free injection industry has been considered in the study.
The primary product types covered are prefilled as well as fillable needle free injectors. By 2023, the fillable segment can be in the lead as the syringes are extensively used by the practitioners, in which the vaccine is filled on the basis of the disease.
Spring-based, jet-based and laser-powered are the key technologies analyzed in the MRFR report. Between these, it is anticipated that the jet-based category can expand to USD 10,391.3 million by the year 2023, as it is the fastest technique of delivery compared to others. Its rising preference in hospitals as made it the largest segment in the global market.
Usability-wise, the top categories can be reusable and disposable needle free injectors. Reusable needle free injections can observe the highest growth rate of 15.90% in the ensuing period.
In terms of the medication type, the market can be considered for powder-based, liquid-based and projectile/depot-based needle free injections. In 2017, liquid-based needle free injections were identified as the top segment in the market and it can continue being in the lead segment throughout the evaluation period, given its simplified working mechanism.
Given the delivery site, intramuscular, subcutaneous and intradermal are the key sections considered in the report. Intramuscular delivery site can be the highest revenue generating segment in the needle free injection industry, as these muscles are able to absorb the vaccine at a higher pace than other parts.
Oncology, insulin delivery, vaccination, and more are some of the key market applications. The insulin delivery application can procure the fastest expansion rate of 14.9%, driven by the massive population of diabetics that demand pain-free solutions to receive insulin.
Hospitals and clinics, homecare settings, ambulatory surgical centers, and more are the key end-users in the industry. The lead is anticipated to be taken by the hospitals and clinics category by 2023, because of the escalating demand for advanced devices that can efficiently deliver the vaccine for chronic illnesses.
Regional Study
The regional study of the global market comprises the Middle East and Africa (MEA), Asia Pacific (APAC), Europe, and the Americas.
The biggest gainer can be the Americas as the cases of chronic diseases have risen considerably over the years. The mounting preference for self-administrative devices and the frequent technology-based breakthroughs in biotechnology and pharmaceutical industries also contribute to the market expansion here. The rising investments by top contenders and the high awareness level among people are also projected to enhance the market size in the region.
Europe can be a formidable contender in the global market, backed by the vast pool of world renowned players present in the region along with the extensive healthcare infrastructure. The needle free injection market in Europe is advancing as a result of the rapidly increasing patient pool and the RD spending by the government as well as pharmaceutical firms for chronic pain management and diabetes.
A robust growth rate can be procured by the APAC market, as a result of the fast developing countries like India and China and the boosted healthcare spending in these nations. The presence of the massive patient population and the growing need to adhere to the strict quality and safety standards by leading manufacturers can mean significant product sale in the following years. On the other hand, MEA has managed to seize the smallest share in the global market, owing to the rigid government standards and policies coupled with the low focus on healthcare development.
Top Industry Contenders
Top industry contenders outlined in the MRFR research include D'Antonio Consultants International, Inc., PenJet Corporation, Medical International Technology, Inc., CROSSJECT, PharmaJet, Inc., MIKA MEDICAL CO., National Medical Products Inc., Endo Pharmaceuticals Inc., Antares Pharma Inc., Inovio Pharmaceuticals Inc., Valeritas Holdings, Inc., INJEX Pharma GmBH, European Pharma Group, to name a few.
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