The rising preference of patients not using a syringe is anticipated to help the Global Needle-Free Drug Delivery Technology Market’s growth in the forecast years. The above information was shared by Fortune Business Insights in a report, titled “Needle-free Drug Delivery Technology Market Size, Share and Global Trend By Product (Inhaler, Jet Injector, Novel Needles, Transdermal Patch), By Application (Vaccine Delivery, Pain Management, Insulin Delivery), By End Users (Hospitals & Clinics, Homecare Settings, Research Laboratories, Academics), and Geography Forecast till 2026.”
One of the primary reasons for people not opting for syringes is the risk associated with their contamination. Needle-free drug delivery technology offers several advantages than conventional syringes. Some of the benefits include ensuring proper dosage, cost-effectiveness, faster administration, and less pain. Driven by these benefits, the demand for needle-free drug delivery technology is likely to increase over the projected horizon.
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Some of the key players in the global market are:
- Zogenix, Inc.,
- Antares Pharma Inc
- Injex Pharma AG
- Endo Pharmaceuticals
- Bioject Medical Technologies, Inc.,
Experts around the world adopt this technology for patients suffering from diabetes and other chronic diseases such as West Nile Virus, AIDS, Malaria, and Hepatitis. There is a rising demand for needle-free drug delivery devices to avoid the risk of contamination. Consequently, needle-free drug delivery technology offers this solution and takes care of issues like these.
North America Leads as Companies Heavily Invest in R&D Activities
North and America and Europe are the two leading regions in the global needle-free drug delivery technology market. These two regions are expected to cover the majority of the share in the global market during the forecast period. Chronic and acute disorders are highly prevalent in these two regions, which is escalating demand for needle-free injection drug. This, in turn, is expected to expand the needle-free drug delivery technology share. Also, the needle-free drug delivery technology market size is likely to increase owing to the rising number of research and development (R&D) activities in these two regions. These R&D activities are conducted for treatment options of rare and chronic diseases. Furthermore, these two regions are increasingly adopting technologically-advanced drug delivery systems. This will further provide enhanced treatment outcomes and will eventually, surge the needle-free drug delivery technology revenue.
Countries such as Japan are anticipated to offer ample growth opportunities to the global market. This is mainly because Japan has well-established healthcare infrastructure and predominantly adopts technologically-advanced systems in drug delivery. Also, the rising geriatric population in Japan leads to a growing need for needle-free drug delivery systems.
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Enormous Benefits Offered by Needle-free Drug Delivery Devices Drives the Market
Recent technological developments in the healthcare sector are likely to pave the way for the entry of new market players. These players are likely to adopt these devices in applications such as Ataxic Cerebral Palsy, AIDS, and cancer. Polycarbonate materials are used in needle-free drug injectors as these materials are tough, lightweight, and flexible. Considering this, QS Medical Technology Company manufactures a novel needle-free injection delivery device for insulin in September 2018.
Faster administration of needle-free drug injector leads to less pain and improves the patient outcome. These factors are expected to play an instrumental role in propelling the growth of the market. Faster administration has a faster effect of drugs on the human body. This, coupled with the cost-effectiveness of these drugs, is expected to drive the market.
Portal Instrument’s Needle-free Drug Delivery Injector Completes its Commercialization Deal
Companies in the global needle-free drug delivery technology market are getting recognized as they are making several strategic decisions. For instance, PharmaJet received a recognition award for developing needle-free drug delivery technology. The company received the Global Technology Innovation Award in October 2018. A start-up called Portal Instruments collaborates with Japanese pharmaceutical key players in December 2017. This collaboration aims at developing and commercializing the device called PRIME. This needle-free injection device enabled with smart technology is smart helps to reduce the anxiety and pain associated with injections. The company further aims to improve patient adherence with the introduction of this device.
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