Needle Free Drug Delivery Devices Market is Driven by Demand for Painless Delivery of Medications

The global market for needle-free drug delivery devices has been registering a remarkable rise over the last few years, thanks to the growing demand for painless delivery of medications across the world. Analysts estimate this market to remain expanding steadily at a CAGR of 9.90% from 2015 to 2023 and increase its opportunity from US$5.4 bn in 2014 to US$13 bn by the end of 2023.

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The rising need for preventive measures for needle-stick injuries is projected to stimulate the adoption of these devices significantly in the coming years. Apart from this, the growing incidence of dengue, hepatitis, and various chronic diseases, in which regular administration of medicines is required, is also expected to fuel the demand for these devices substantially over the next few years.

Growing Preference for Painless Delivery of Medicines Fuels Demand for Needle-Free Drug Delivery Devices

The growing preference for efficient and painless delivery of medicines is leading the drug delivery market towards needle-free injection systems. As these systems make use of a liquid drug delivery technology that works effectively with already available drug formulations, the development costs on these products are very low. This has encouraged a number of medical devices manufacturers to invest in needle-free drug delivery devices, boosting the market’s growth.

In addition to this, the increasing need to prevent needle-stick injuries is likely to stimulate the adoption of needle-free drug delivery devices significantly during the forecast period. The rising prevalence of infectious diseases such as dengue, hepatitis, and AIDS, and various cardiovascular and neurological diseases, which require continual administration of drugs, is also projected to create substantial demand for these devices over the next few years.

Despite North America’s Dominance, Asia Pacific to Report Fastest Growth

According to TMR’s estimates, the opportunity in the global market for needle-free drug delivery devices that valued at US$5.4 bn in 2014, is likely to increase at a CAGR of 9.90% during the period from 2015 to 2023 and possibly worth US$13 bn by the end of the forecast period.

In 2014, North America led the global market with a share of more than 40% and was closely followed by Europe. During the forecast period, North America will remain the dominant regional market; however, it will lose a significant amount of its market shares to Asia Pacific. The latter, on the other hand, will emerge as the fastest growing market for needle-free drug delivery devices in the coming years.

Needle-free drug delivery devices are mostly utilized for the administration of insulin in the human body. The insulin delivery segment has been leading the application segment since the last few years and is projected to remain dominant over the coming years.

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Competing needle-fee technologies, such as inhaler, transdermal, and various other novel needle-free technologies witnessed the highest demand in 2014. However, jet injectors are likely to exhibit the fastest growth rate over the forecast period.

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