The Needle-Free Drug Delivery Devices market is being driven by factors such as the rising prevalence of chronic diseases and lifestyle disorders, the inclination of population towards self-administration of drugs.
Chronic diseases and lifestyle disorders are on the rise globally. Over the last decade, there has been a rise in the prevalence of several chronic diseases, which in several cases need long hospital stays. Some of the major chronic diseases include cancer, kidney failure, and heart diseases, among others. Lifestyle diseases, like hypertension, diabetes mellitus, dyslipidemia, and overweight/obesity are also becoming major risk factors. With the rapid economic development and increasing westernization of lifestyle in the past few decades, the prevalence of these diseases has reached alarming proportions among the Indians. This factor is leading to a demand for durable medical equipment.
There are several universities, hospitals, and research centers collaborating and sponsoring the trials for needle-free jet injection across the world, majorly in the United States, the United Kingdom, and China. In 2017, Takeda and Portal Instruments announce collaboration to develop needle-free drug delivery device. Therefore, over the forecast period, with more partnerships and advances in technology, the inclination toward self-administration of drugs is expected to boost this market.
Thus, the increasing patient pool and the increasing prevalence of chronic diseases are anticipated to boost the demand for the market studied.
Key Market Trends
Insulin Delivery is Expected to Witness Good Growth in Application Segment Over the Forecast Period
Diabetes, being a chronic disorder, is a major health concern across the world. The rise in the prevalence of diabetes in children is also on the rise across the world. American Diabetes Association reported that 1.25 million children and adults suffered from Type-1 diabetes. The WHO projected diabetes to be the 7th leading cause of death across the world by 2030. Traditionally, insulin administration was carried out by syringes, even after the advent of multiple insulin delivery devices. The other forms of insulin administration, include pens and pumps, among others.
However, insulin delivery usually is done via self-administration devices, owing to which the risk associated with the pain and improper drug delivery using sharp objects/ needles is high. Hence, the researchers have suggested that the adoption of pens and insulin pumps is higher, compared to that with the insulin delivery needles in various geographies across the world. This is owing to the superior features of the advanced insulin delivery devices, such as ease of handling and reusability, along with lesser pain, a result of needle-free devices, which is expected to propel the segment growth over the forecast period.
United States is Expected to Hold the Largest Share in North America Region Over the Forecast Period
The major factors driving the growth of the needle-free drug delivery systems in the United States are high awareness among the patient population regarding the availability of novel products available in the market, as well as the increasing research and development by the major market players. In addition, there is a high prevalence of chronic diseases in the country.
According to the US Department of Health & Human Services, by the end of 2017, about 30.3 million Americans were reported to have diabetes, with approximately 84 million Americans with prediabetes. It is also estimated that as many as 2 out of 5 Americans are expected to develop Type 2 diabetes in their lifetime. Many innovative technologies are developed to enhance the initiation and acceptance of insulin use among patients with diabetes. The needle-free injections and needle-free injection technology (NFIT) are broad concepts, encompassing a wide range of drug delivery systems. Furthermore, the human growth hormone is one of the most effective longevity treatments available in America today. HGH Injections have the ability to improve physical and mental health in various ways that benefit the entire body.
Thus, the increasing prevalence of chronic diseases and the rising adoption of needle-free drug delivery devices are expected to drive the overall growth of the market in the United States.
Competitive Landscape
The Needle-Free Drug Delivery Devices market is moderately competitive. The market is currently dominated by innovative companies that are coming up with the novel products with the use of technology that reduces the use of a needle for drug administration. Some of the companies that are currently having a considerable share in the market are Akra Dermojet, Injex Pharma AG, Endo Pharmaceuticals Inc., PharmaJet and 3M.
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Chronic diseases and lifestyle disorders are on the rise globally. Over the last decade, there has been a rise in the prevalence of several chronic diseases, which in several cases need long hospital stays. Some of the major chronic diseases include cancer, kidney failure, and heart diseases, among others. Lifestyle diseases, like hypertension, diabetes mellitus, dyslipidemia, and overweight/obesity are also becoming major risk factors. With the rapid economic development and increasing westernization of lifestyle in the past few decades, the prevalence of these diseases has reached alarming proportions among the Indians. This factor is leading to a demand for durable medical equipment.
There are several universities, hospitals, and research centers collaborating and sponsoring the trials for needle-free jet injection across the world, majorly in the United States, the United Kingdom, and China. In 2017, Takeda and Portal Instruments announce collaboration to develop needle-free drug delivery device. Therefore, over the forecast period, with more partnerships and advances in technology, the inclination toward self-administration of drugs is expected to boost this market.
Thus, the increasing patient pool and the increasing prevalence of chronic diseases are anticipated to boost the demand for the market studied.
Key Market Trends
Insulin Delivery is Expected to Witness Good Growth in Application Segment Over the Forecast Period
Diabetes, being a chronic disorder, is a major health concern across the world. The rise in the prevalence of diabetes in children is also on the rise across the world. American Diabetes Association reported that 1.25 million children and adults suffered from Type-1 diabetes. The WHO projected diabetes to be the 7th leading cause of death across the world by 2030. Traditionally, insulin administration was carried out by syringes, even after the advent of multiple insulin delivery devices. The other forms of insulin administration, include pens and pumps, among others.
However, insulin delivery usually is done via self-administration devices, owing to which the risk associated with the pain and improper drug delivery using sharp objects/ needles is high. Hence, the researchers have suggested that the adoption of pens and insulin pumps is higher, compared to that with the insulin delivery needles in various geographies across the world. This is owing to the superior features of the advanced insulin delivery devices, such as ease of handling and reusability, along with lesser pain, a result of needle-free devices, which is expected to propel the segment growth over the forecast period.
United States is Expected to Hold the Largest Share in North America Region Over the Forecast Period
The major factors driving the growth of the needle-free drug delivery systems in the United States are high awareness among the patient population regarding the availability of novel products available in the market, as well as the increasing research and development by the major market players. In addition, there is a high prevalence of chronic diseases in the country.
According to the US Department of Health & Human Services, by the end of 2017, about 30.3 million Americans were reported to have diabetes, with approximately 84 million Americans with prediabetes. It is also estimated that as many as 2 out of 5 Americans are expected to develop Type 2 diabetes in their lifetime. Many innovative technologies are developed to enhance the initiation and acceptance of insulin use among patients with diabetes. The needle-free injections and needle-free injection technology (NFIT) are broad concepts, encompassing a wide range of drug delivery systems. Furthermore, the human growth hormone is one of the most effective longevity treatments available in America today. HGH Injections have the ability to improve physical and mental health in various ways that benefit the entire body.
Thus, the increasing prevalence of chronic diseases and the rising adoption of needle-free drug delivery devices are expected to drive the overall growth of the market in the United States.
Competitive Landscape
The Needle-Free Drug Delivery Devices market is moderately competitive. The market is currently dominated by innovative companies that are coming up with the novel products with the use of technology that reduces the use of a needle for drug administration. Some of the companies that are currently having a considerable share in the market are Akra Dermojet, Injex Pharma AG, Endo Pharmaceuticals Inc., PharmaJet and 3M.
Reasons to Purchase this report:
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Antares Pharma
- Injex Pharma AG
- 3M Company
- PharmaJet
- Mika Medical Co.
- Valeritas Holdings
- PenJet
- Crossject
- Akra Dermojet
Methodology
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