-- 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.
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.
Get Sample Copy of this Research Insights - http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=447
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. 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.
Key Players Dominating Needle Free Drug Delivery Devices Market
The competitive landscape in the worldwide needle-free drug devices market demonstrate a consolidated structure. Leading players are increasingly entering into mergers, acquisitions, and strategic partnerships to expand their reach in this market. They are also focusing aggressively on the introduction of innovative as well as advanced devices in this market to strengthen their position. Some of the leading manufacturers of these devices across the world are Injex Pharma AG, Antares Pharma Inc., Zogenix Inc., Pharmajet Inc., Glide Pharmaceutical Technologies Ltd., and 3M.
Report Customization Available - http://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=447
Table of Content - Key Points
1. Preface
2. Executive Summary
3. Needle Free Drug Delivery Devices Market - Industry Analysis
4. Market Segmentation - By Technology
5. Market Segmentation - By Application
6. Market Segmentation - By Geography
7. Recommendations
8. Company Profiles
List of Figures - 17
List of Tables - 15
Contact Info:
Name: Rohit Bhisey
Email: Send Email
Organization: Transparency Market Research
Address: State Tower, 90 State Street,, Suite 700, Albany NY - 12207 United States
Phone: +1-518-618-1030
Website: http://www.transparencymarketresearch.com/needle-free-delivery-devices-market.html
Release ID: 140459
Google
RSS