Global market for needle-free devices should grow from $4.6 billion by 2023,
Report Highlights
The global market for needle-free devices should grow from $3.0 billion in 2018 to $4.6 billion by 2023, increasing at a compound annual growth rate (CAGR) of 9.3% from 2018 to 2023.
Report Scope:
This report provides a detailed description of needle-free devices and the latest technologies in the market. The report includes market estimates for different types of needle-free devices. The report also includes recent technological developments and assessments of product performance in the market.
Based on the product type, the global needle-free device market is segmented into Needle-free Injectors, Inhaler technologies, Transdermal patch technologies and Other novel technologies (e.g., microneedles and pen needles).
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Based on the application, the global needle-free device market is segmented into Pain management, Vaccine delivery, Insulin delivery and Pediatric drug delivery.
The report includes a list of marketed and pipeline products available in the market. The report discusses the qualitative and quantitative factors influencing market growth. The market drivers, restraints and opportunities are discussed in the report.
This report discusses some of the major drivers and restraints in the global needle-free device market, as well as the competition in the global needle-free device market and the key players' strategies and performances. The discussion is focused on the major market players, trends in product launches, collaborations, and mergers and acquisitions. The report also emphasizes on the company profiles of major vendors including company overview, key product offerings, financial statistics, and other developments. The report also provides insights on the market share and upcoming regional demand for the needle-less technologies.
Some of the major market players discussed in the report are 3M, Antares Pharma AG, Medtronic, Novartis and Teva Pharmaceuticals. For market estimates, data has been provided for the year 2017 as the base year, with forecasts for 2018 through 2023. Estimated values used are based on manufacturers' total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.
Report Includes:
- 36 data tables and 34 additional tables
- Detailed overview of the global markets for needle-free devices and technologies within the industry
- Analyses of global market trends with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Country specific data and analysis for United States, Canada, Mexico, France, Germany, U.K., Spain, China, India, Japan, South Korea, Middle East and Africa
- Assessment of the recent developments, key technological updates and product performance within the needle-free devices market
- Insight into various needle-free technologies that are used in drug delivery and their various application areas
- A look at the government regulations that can affect the global needle-free devices market
- Identification of the competitive landscape of the market with the leading market players, suppliers and pharmaceutical partners
- Profiles of major vendor companies, including 3M, AstraZeneca PLC, Bristol-Myers Squibb, GlaxoSmithKline PLC (GSK), Medtronic, Merck Serono S.A., and Teva Pharmaceutical Industries Ltd.
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Summary
The global market for needle-free technologies was worth REDACTED in 2017. The market is expected to increase at a compound annual growth rate (CAGR) of REDACTED during the forecast period 2018-2023. Growth in this segment is being fueled by evolving market dynamics and a growing interest in safe, effective and advanced needle-free drug delivery technologies.
There are several needle-free technologies such as needle-free injectors, transdermal patches and other novel technologies currently available in the market. In terms of technological development, there is an exciting product pipeline for extensive research and development. Healthcare providers seek devices and technologies that improve patient compliance and ease in drug administration. Hence, needle-free devices are expected to have a significant scope of growth, with numerous driving factors discussed in this report.
Major drivers of the global needle-free device market are as follows -
- Increasing incidence of needlestick injuries.
- Growing cases of needle phobia.
- Increasing demand for painless drug delivery.
- Product innovations.
- Increased prevalence of diabetes globally.
- Increasing incidence of blood-borne diseases globally.
- Public awareness of HIV/AIDS and the significance of needle-free devices in preventing HIV.
At the same time, novel drug delivery technologies help retain market leadership, protect sales revenues and bring competitive value to pharmaceutical companies and technology partners. Transdermal technologies have created new opportunities for pharmaceutical companies seeking to create delivery mechanisms for existing molecules with no viable delivery system and existing drugs that could benefit from additional delivery systems, such as compounds that were previously unable to be delivered through the skin. However, market growth is hindered by certain market restraints.
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