ALBANY, N.Y., Oct. 27, 2014 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Needle-Free Drug Delivery Devices Market (Jet Injectors, Inhalers, Transdermal Patch and Novel Needle Technology) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" the global needle-free drug delivery devices market was valued USD 4.21 billion in 2012 and expected to grow at a CAGR of 14.6% from 2013 to 2019, to reach an estimated value of USD 10.93 billion in 2019.
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Needle-free drug delivery devices are novel technologies used for the introduction of drugs into patient's body without invading the skin with a needle. This technology provides effective drug delivery for wide range of drugs with less pain. In case of delivering the drug actively, a driving force is necessary for the transport of drug across the skin, which can be accomplished by using electroporation, jet injectors, ultrasound, iontophoresis, tape stripping and powder injection.
Needle-free drug delivery devices market is segmented on the basis of technology as jet injectors and competing needle-free technologies that include microneedles, inhalers and transdermal patches. Jet injectors segment is expected to grow at the highest CAGR during 2013 to 2019 owing to rising concern about needle-stick injuries, possible transmission of bloodborne diseases and low risk of injury. Whereas, in 2012 competing needle-free technology segment accounted for the largest share due to factors such as ease in use, non-invasive treatment, cost-effective and time saving technology. The competing needle-free technologies market is segmented as novel needle technology, inhaler technology and transdermal patch technology.
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Needle-free drug delivery devices market by applications is segmented as vaccine delivery, pain management, insulin delivery and pediatric injections. Insulin delivery and pain management application segment accounted for the largest market share in 2012. This growth was mainly attributed to increasing awareness about risk of needle-stick injuries in patients and rising prevalence of diabetes. In addition, pediatric injections application market is the fastest growing segment as most of the current R&D activities are focused on developing needle-free drug delivery devices efficient against pediatric vaccinations.
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In 2012, North America accounted for the largest market share of the global needle-free drug delivery devices market owing to high awareness about novel drug delivery systems, continuous investments in research and development activities, government initiatives and key players domiciled in this region. While, Asia-Pacific is estimated to be the fastest growing market due to increasing government initiatives such as launch of vaccination programs and developing healthcare infrastructure in this region from 2013 to 2019. Rest of the World (RoW) is estimated to be the next attractive market of needle-free drug delivery devices after Asia-Pacific. Brazil and Mexico countries of RoW region are observed to be the key countries covering major market share.
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The key players of the needle-free drug delivery devices market are Antares Pharma, Inc., Glide Pharmaceutical Technologies Ltd., 3M, Zogenix and Ypsomed Holding AG. While in 2012, it was observed that Zogenix and 3M accounted for the largest market share of the global needle-free drug delivery devices market.
The global needle-free drug delivery devices market is segmented as follows:
Needle-Free Drug Delivery Devices Market, by Technology
- Jet Injectors
- Competing Needle-free Technologies
- Novel needle-free technology
- Inhaler technology
- Transdermal patch technology
Hyaluronic Acid Products Market, by Applications
- Vaccine Delivery: Developing Immune Response
- Pain Management
- Insulin Delivery for Diabetes
- Pediatric Injections
Needle-Free Drug Delivery Devices Market, by Geography
- North America
- Rest of the World (RoW)
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Source:Transparency Market Research