Needle-Free Injectors Market to Hit USD 42.79 Billion by 2032 | Get Insights FMI

Global demand for Needle-Free Injectors Market is expected to rise at a yearly growth rate of 12% Y-o-Y to US$ 42.79 Billionin 2032

Needle-free injection is an innovative drug delivery technology that drives drugs to the skin using force which virtually nullifies the use of hypodermic needle. With growing preference for non-invasive drug delivery system and vaccines, adoption of needle-free injectors is expected to improve over the coming years

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Application of needle-free injectors is increasing with rising incidence of diabetes and other chronic diseases across the globe. With increasing number of surgeries, demand for minimally invasive procedures is accelerating the sales of needle-free injectors.

According to Centers for Disease Control and Prevention (CDC), more than 51% of adults in U.S. had at least 1 chronic condition, and 27.2% had multiple chronic conditions in 2018.

Other factors driving the global demand are cost-effectiveness and safety related to needle-free injectors.

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Key Takeaways from Needle-free Injectors Market study

By load type, liquid injections segment will hold around 88.0% of value share globally.
Based on the technology, spring-loaded jet injector is dominating the market, with over 48.0% of the market share.
Based on the delivery site, intra dermal injector is expected to hold over 33% of the market share.
Application of drug delivery will spur the sales of needle-free injectors, with the segment accounting for 65% of the market share.
Based on the usage, reusable needle free injectors are highly sought-after, contributing over 78% of the market revenue.
Hospitals are expected to be the primary end-users, holding a market share of 28% during the forecast period.
By region, North America will dominate the global needle-free injectors market, holding 42% of total market share.
Europe is expected to be the second-largest market, with Germany spearheading the market growth .
India will emerge as the most lucrative market across South Asia, accounting for nearly 50% of market share in 2021.
China will hold leading position in East Asia and is expected to account for nearly 46% of market share.

"Growing prevalence of chronic diseases coupled with rising preference of non-invasive drug delivery system will improve the adoption of needle-free injectors. With rising demand for needle-free injectors, key players are introducing new product launches and are aiming for fast track approvals to capitalize on existing opportunities and sustain their position in the industry "says the FMI Analyst.

Who is Winning?

New product launches and approvals, agreements, and collaborations are some of the key growth strategy adopted by the key players. By focusing on these strategies, key players intend to expand their global presence and strengthen their existing product portfolio.

For instance,

In November 2019, Antares Pharma collaborated with Idorsia for the development of a novel self-administered drug-device product.
In June 2020, Vitaeris Inc., a biotech company was acquired by CSL Limited. The acquisition was carried out by CSL Limited to achieve the motive of addressing the unmet needs of patients.

The key market players covered by FMI include Pfizer, Inc., Gerresheimer AG, Ferring Pharmaceuticals, CSL Limited (Seqirus UK Limited) and others.

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Key Segments Profiled In The Needle-Free Injectors Market Industry Survey

Needle-Free Injectors Market by Load:

Needle-Free Injectors by Liquid Injections
Needle-Free Injectors by Powder Injections
Needle-Free Injectors by Projectile Injections

Needle-Free Injectors Market by Technology:

Needle-Free Injectors by Spring-loaded jet injector
Needle-Free Injectors by Battery-powered jet injector
Needle-Free Injectors by Gas-powered jet injector

Needle-Free Injectors Market by Delivery Site:

Needle-Free Injectors by Intra dermal injectors
Needle-Free Injectors by Intramuscular injectors
Needle-Free Injectors by Subcutaneous injectors

Needle-Free Injectors Market by Application:

Needle-Free Injectors by Drug Delivery
Needle-Free Injectors by Vaccines
Needle-Free Injectors by Cosmetic
Needle-Free Injectors by Others

Needle-Free Injectors Market by End User:

Needle-Free Injectors by Home Care Settings
Needle-Free Injectors by Long Term Care Centers

Needle-Free Injectors Market by Region:

North America Needle-Free Injectors Market
Latin America Needle-Free Injectors Market
Europe Needle-Free Injectors Market
East Asia Needle-Free Injectors Market
South Asia Needle-Free Injectors Market
Oceania Needle-Free Injectors Market
Middle East & Africa Needle-Free Injectors Market

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 8-years.

This release was published on openPR.