Yahoo Finance Needle-Free Injection Market Size Growing at 9.7% CAGR Set to Reach USD 2.6 Billion By 2030
Acumen Research and Consulting recently published report titled “Needle-Free Injection Market and Region Forecast, 2022 - 2030”
LOS ANGELES, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The Global Needle-Free Injection Market Size gathered USD 1.2 Billion in 2021 and is set to garner a market size of USD 2.6 Billion by 2030 growing at a CAGR of 9.7% from 2022 to 2030.
Needle-Free Injection Market Highlights and Statistics
The global Needle-Free Injection market size in 2021 stood at USD 1,200 Million and is set to reach USD 2,600 Million by 2030, growing at a CAGR of 9.7%
The demand for needle-free injections is driven by the increasing need for safer, more convenient, and less painful methods of administering medications and vaccines.
Advances in technology, such as the development of wearable devices and smart inhalers, are expected to drive the growth of the needle-free injection market share.
The growing prevalence of chronic diseases, such as diabetes, cancer, and heart disease, is expected to increase demand for needle-free injections for disease management.
The Asia-Pacific region is expected to see significant growth in the needle-free injection market share, due to the increasing awareness of needle-free injections and the growing healthcare infrastructure in the region.
Major players in the needle-free injection market include BD (Becton, Dickinson and Company), Medtronic, Ypsomed AG, Injex Pharma AG, and Eli Lilly and Company, among others.
Needle-Free Injection Market Overview
The needle-free injection market is a rapidly growing industry that is centered around the development and distribution of alternative methods for administering medications and vaccines without the use of traditional hypodermic needles. This technology utilizes various mechanisms to deliver drugs or vaccines into the body without penetrating the skin with a needle. Some of the key applications for needle-free injections include vaccinations, pain management, insulin delivery for individuals with diabetes, and cosmetic treatments.
One of the primary benefits of needle-free injections is the increased level of safety they provide. Traditional needle injections can pose a risk of infection, transmission of blood-borne diseases, and accidental needle sticks. Additionally, needle-free injections are more comfortable for patients and can eliminate the fear and anxiety associated with traditional needle injections.
There are several different types of needle-free injection technologies available on the market, each with its own unique features and benefits. These include jet injectors, which use high-pressure to propel medication through the skin, and spring-powered devices, which use a rapid-fire motion to deliver medication into the skin.
The needle-free injection market share is expected to continue growing in the coming years, driven by advancements in technology, increased demand for safer and more convenient methods of administering medications, and a growing global population in need of medical care. The industry is poised for substantial growth in the future, particularly as new and innovative applications for needle-free injections continue to emerge.
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Needle-Free Injection Market Report Coverage:
Market | Needle-Free Injection Market | |
Needle-Free Injection Market Size 2021 | USD 1.2 Billion | |
Needle-Free Injection Market Forecast 2030 | USD 2.6 Billion | |
Needle-Free Injection Market CAGR During 2022 - 2030 | 9.7% |
|
Needle-Free Injection Market Analysis Period | 2018 - 2030 | |
Needle-Free Injection Market Base Year | 2021 |
|
Needle-Free Injection Market Forecast Data | 2022 - 2030 | |
Segments Covered | By Product, By Type, By Technology, By Usability, By Delivery Site, By Application, By End-Use, And By Geography | |
Needle-Free Injection Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
Key Companies Profiled | Aijex Pharma International Inc., Antares Pharma, Inc, Crossject, Ferring B.V., Inovio Pharmaceuticals, Medical International Technology Inc., NuGen Medical Devices, Penjet Corporation, PharmaJet, and Portal Instruments. | |
Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Trends in the Needle-Free Injection Market
Innovations in technology: The development of new and improved needle-free injection technologies, such as jet injectors and spring-powered devices, is driving growth in the market.
Increasing prevalence of chronic diseases: The growing prevalence of chronic diseases, such as diabetes and heart disease, is driving demand for needle-free injections for disease management.
Growing geriatric population: The growing geriatric population is expected to increase demand for needle-free injections, as older individuals are more prone to needle-related injuries and may have a higher aversion to traditional needle injections.
Growing demand for insulin delivery: The increasing demand for needle-free insulin delivery, particularly for individuals with diabetes, is driving growth in the market.
Growing demand for needle-free injectors in the veterinary market: The increasing demand for needle-free injectors in the veterinary market, particularly for the administration of vaccines and medications in animals, is driving growth in the market.
Growing cosmetic market: The increasing demand for cosmetic treatments, such as Botox injections, is driving growth in the needle-free injection market size.
Needle-Free Injection Market Dynamics
Growing demand for home healthcare: The rise in home healthcare is driving demand for needle-free injections, as they allow for the administration of medications and vaccines in a more convenient and comfortable setting.
Growing demand for needle-free vaccines: The increasing demand for needle-free vaccines, particularly in the wake of the COVID-19 pandemic, is driving growth in the market.
Growing demand for self-administration: The growing demand for self-administration of medications is driving demand for needle-free injections.
Growing demand for pain management: The increasing demand for alternative methods of pain management, such as needle-free injections, is driving growth in the market.
Growing awareness: The increasing awareness of needle-free injections and their benefits is driving demand for these products.
Wearable devices: The development of wearable needle-free injection devices is a growing trend in the market, allowing for the continuous administration of medications and improved disease management.
Growth Hampering Factors in the for Needle-Free Injection Market
Safety concerns: The safety concerns associated with needle-free injections, such as the risk of infection and the potential for tissue damage, are hindering growth in the market.
Complexity of use: The complexity of use and the lack of training available for healthcare providers is a hindrance to the growth of the market.
Resistance to change: The resistance to change and the preference for traditional needle injections by healthcare providers and patients is hindering growth in the market.
Competition from alternative methods: The competition from alternative methods, such as oral medications and traditional needle injections, is hindering growth in the market.
Limited product portfolio: The limited product portfolio and the lack of diversity in needle-free injection products is hindering growth in the market.
Poor product performance: The poor performance of some needle-free injection products, such as inconsistent dosing and poor efficacy, is hindering growth in the market.
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Market Segmentation:
By Product
Prefilled
Fillable
By Type
Powder-Based Needle Free Injectors
Liquid-Based Needle Free Injectors
Projectile/Depot-Based Needle Free Injectors
By Technology
Laser powered Needle-Free Injectors
Vibration based Needle-Free Injectors
Gas Powered Needle-Free Injectors
Spring Based Needle-Free Injectors
By Usability
Reusable
Disposable
Delivery Site
Intramuscular
Intradermal
Subcutaneous
Application
Pain Management
Insulin Delivery
Vaccine Delivery
Other
End Use
Home Care Settings
Hospitals and Clinics
Research Labs
Needle-Free Injection Market Overview by Region
North America’s Needle-Free Injection Market share is the highest globally, due to the high prevalence of chronic diseases, the presence of a large geriatric population, and the increasing demand for home healthcare services. The region is home to several market leaders, such as Merck, Sanofi, and BD, who are investing in research and development to develop innovative needle-free injection products. The increasing demand for cosmetic treatments, such as Botox injections, is also driving growth in the region.
The Asia-Pacific region’s Needle-Free Injection market share is fastest growing, driven by the increasing prevalence of chronic diseases, the growing demand for home healthcare services, and the expanding middle class. The region is home to several emerging economies, such as India and China, which are investing heavily in the healthcare sector and contributing to the growth of the market. The increasing demand for self-administration of medications and the growing demand for needle-free insulin delivery are also driving growth in the region.
Europe is another key market for Needle-Free Injection, driven by the increasing demand for home healthcare services, the growing geriatric population, and the growing awareness of the benefits of needle-free injections. The region has a well-established healthcare system and a high standard of living, which is contributing to the growth of the market. The increasing demand for needle-free vaccines, particularly in response to the COVID-19 pandemic, is also driving growth in the region.
The South American and MEA regions have a smaller Needle-Free Injection market share. The region has a large and growing middle class, which is driving demand for healthcare services, including needle-free injections. The increasing demand for cosmetic treatments, such as Botox injections, is also driving growth in the region.
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Needle-Free Injection Market Key Players
The Needle-Free Injection Market is highly competitive, with a large number of players operating in the industry. Some of the key players in the market include Merck, Sanofi, BD, Eli Lilly and Company, Novo Nordisk, 3M, GlaxoSmithKline, Pfizer, Roche, Johnson & Johnson, Becton, Dickinson and Company, Gerresheimer, Injex Pharma AG, Zogenix, Inc., Nova Pharma, Valeritas, Inc., Opiant Pharmaceuticals, Inc., and Uscom Limited. These players are constantly developing new and innovative needle-free injection products and strategies to gain a competitive edge in the market.
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