New York, Sept. 13, 2023 (GLOBE NEWSWIRE) -- The global Needle Free Injection System Market is expected to witness significant growth at a CAGR of 14.7% during the forecast period of 2023-2030. This growth is attributed to increasing demand for biosimilars and the vaccination process.
According to a recent report by Consegic Business Intelligence, the needle free injection system market is poised for strong expansion and is expected to reach USD 48,515.83 million by 2030. The market, which was valued at USD 16,340.00 million in 2022, is projected to grow at a compound annual growth rate of 14.7% during the period 2023-2030. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the needle free injection system market.
Get Sample Report@ https://www.consegicbusinessintelligence.com/request-sample/1249
Needle free injection system is an innovative technique to provide medications without incorporating the conventional needle. It is a painless and effective approach and thus is widely demanded across different treatments. These products have the biggest advantage of reducing cross contamination and any injuries due to needlesticks. These products can be taken in the form of inhalers, edible products, power sprays, and others, and avoid piercing the skin with a conventional needle. Rising health concerns globally, such as diabetes, chronic disease, and others are increasing the usage of needle free injections system.
Global Needle Free Injection System Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 48,515.83 million |
| CAGR (2023-2030) | 14.7% |
| By Product | Fillable and Prefilled |
| By Usability | Disposable and Reusable |
| By Application | Vaccine Delivery, Insulin Delivery, Pain Management, and Others |
| By End User | Hospitals & Clinics, Home Care Settings, Research Laboratories, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | Terumo Corporation, Pulse NeedleFree, PharmaJet, Portal Instruments, Medical International Technology Inc, NuGen Medical Devices, Crossject, Inovio Pharmaceuticals, Antares Pharma, Inc, and Penjet Corporation |
Immediate Delivery Available, Buy Now @ https://www.consegicbusinessintelligence.com/secure-checkout/1249
Global Needle free injection system Market Segmentation Details:
Based on Product, in 2022, the fillable segment contributed the largest market shares in the needle free injection system market. The fillable segment is widely demanded due to its environmentally friendly nature. Fillable products are available widely across the globe and have a high adoption rate in the market. Thus, due to the mentioned advantages of the segment, the fillable segment is experiencing significant growth in the market.
Based on Usability, in 2022, the disposable segment contributed the highest market shares in needle free injection system market. Disposable needles are widely demanded to take blood samples and provide vaccines. Moreover, the wide adoption of disposable needle free injection system is due to the low risk of transmission of diseases. Further, the increasing demand for the disposable segment is attributed to its wide acceptance in tuberculosis skin testing, and BCG vaccination, in turn fostering the market growth. Additionally, the ease of use of disposable needles for low-volume injections and variable dosing is another significant factor contributing to the segment growth.
Based on Application, in 2022, the vaccine delivery segment contributed the highest market shares in the needle free injection system market. Rising chronic conditions and infectious diseases across the globe has led to high demand for vaccination. Also, from the time of COVID-19, the demand for self-injectable devices and mass vaccination has increased in different regions globally. Moreover, the increasing vaccination demand for pediatric patients and mass vaccination campaigns are acting as a catalyst for the growth of needle free injection system market.
Get Sample Report@ https://www.consegicbusinessintelligence.com/request-sample/1249
Based on End User, in 2022, the hospitals & clinics segment contributed the highest market shares in the needle free injection system market. Needle free injections have wide usage in hospitals in operation theatres, outpatient departments, emergency rooms, and others. The rising number of hospitals across the globe coupled with the rising demand for vaccination in hospitals globally is driving the segmental growth of hospitals & clinics in needle free injection system market. Moreover, technological advancement such as advanced medical treatments in private hospitals globally is acting as a catalyst for the market growth of needle free injection system.
Based on Region, in 2022, North America accounted for the highest market share contribution of 36.10%. The market growth is driven by the increasing prevalence of chronic diseases, high presence of key players operating in the needle free injection system market, coupled with highly developed healthcare systems specifically in the U.S. and Canada.
Competitive Landscape
Terumo Corporation, Pulse NeedleFree, and PharmaJet are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more efficient, and cost-effective. Further, the Needle free injection system market is expected to grow steadily due to increasing investments in renewable energy among others. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
Recent Developments
- In May 2022, Gerresheimer, a provider of healthcare solutions and drug delivery systems for pharma and cosmetics, and Portal Instruments entered into a strategic partnership to treat chronically ill patients with the use of innovative needle-free drug-delivery solutions. Both partners are developing needle-free drug delivery platforms for biologics and biosimilars.
- In October 2022, NuGen, one of the leaders in needle-free drug delivery, announced the official launch of its new product, InsuJet needle-free injection device in Canada. This product provides 5,000 injections of insulin, mitigates the long-term costs of injections, and eliminates hazardous biomedical waste and needle-stick injuries.
Browse Full Report @ https://www.consegicbusinessintelligence.com/needle-free-injection-system-market
Key Market Takeaways
- Based on product, the fillable segment accounted for the highest market share in the needle free injection system market statistics in 2022.
- Based on usability, the disposable segment accounted for the highest market share in needle free injection system market statistics in 2022.
- Based on application, the vaccine delivery segment accounted for the highest market share of 41.05% in the needle free injection system market statistics in 2022.
- Based on end user, the hospitals & clinics segment accounted for the highest market share in the needle free injection system market statistics in 2022.
- Asia Pacific is expected to grow at the fastest CAGR of 15.4% during the forecast period due to favorable government initiatives for the use of medical devices across the region.
- In 2022, North America accounted for the highest market share of 36.10 % and was valued at USD 5,898.74 million and is expected to reach USD 17,586.99 million in 2030.
List of Major Global Needle Free Injection System Market:
- Terumo Corporation
- Pulse NeedleFree
- PharmaJet
- Portal Instruments
- Medical International Technology Inc
- NuGen Medical Devices
- Crossject
- Inovio Pharmaceuticals
- Antares Pharma, Inc
- Penjet Corporation
Global Needle free injection system Market Segmentation:
- By Product
- Fillable
- Prefilled
- By Usability
- Disposable
- Reusable
- By Application
- Vaccine Delivery
- Insulin Delivery
- Pain Management
- Others
- By End User
- Hospitals & Clinics
- Home Care Settings
- Research Laboratories
- Others
Request for Customization @ https://www.consegicbusinessintelligence.com/request-customization/1249
Frequently Asked Questions in the Needle free injection system Market Report
- What was the market size of needle free injection system market in 2022?
- In 2022, the market size of needle free injection system market was USD 16,340.00 million.
- What will be the potential market valuation for needle free injection system market by 2030?
- In 2030, the market size of needle free injection system market is expected to reach USD 48,515.83 million.
- What is the key restraint hampering the growth of the needle free injection system market?
- The presence of alternative modes of drug delivery is hampering the needle free injection system market growth.
- What is the dominating segment in the needle free injection system market, by application?
- In 2022, the vaccine delivery segment accounted for the highest market share in the overall needle free injection system market.
- Based on current market trends, which geographical region contributed the largest share in the market?
- North America accounted for the largest market share in the needle free injection system market.
Our Other Research Reports here:-
Carbon Monoxide Detectors Market Size, Growth, Analysis | Forecast 2023 - 2030
Vanilla Market Size, Growth, Analysis | Forecast 2023 - 2030
Sprockets Market Size, Growth, Analysis | Forecast 2023 - 2030
Bicycle Lights Market Size, Growth, Analysis | Forecast 2023 - 2030
Wire Wound Surface Mount Market Size, Growth, Analysis | Forecast 2023 - 2030
About Consegic Business Intelligence Pvt Ltd.
Consegic Business Intelligence Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports.
Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by Consegic Business Intelligence Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in foremost countries around the globe.
Press Releases:- https://www.consegicbusinessintelligence.com/press-release/needle-free-injection-system-market
Contact:
Consegic Business intelligence Pvt Ltd.
Contact no.: (US) (505) 715-4344
Email: sales@consegicbusinessintelligence.com
