Albany - NY, Sept. 3, 2015 (GLOBE NEWSWIRE) -- Research Report States that the global needle-free drug delivery devices market is driven by increasing demand for jet injectors, tape stripping, power injections, and electroporation, and is expected to grow at a 14.6% CAGR during the period from 2013 to 2019. The report, titled 'Needle-Free Drug Delivery Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019', states that the global needle-free drug delivery devices market was poised at US$4.21 billion in 2012 and is forecast to be valued at US$10.93 billion by 2019.
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The report segments the global needle-free drug delivery devices market based on technology, applications, and geography. On the basis of geography, the global needle-free drug delivery devices market is divided into the segments of Europe, Asia Pacific, North America, and Rest of the World. North America dominated the global needle-free drug delivery devices market in 2012, accounting for the largest share of the market.
Countries from the Asia Pacific region are predicted to adopt needle-free drug delivery devices on a large scale. Governments in this region have started taking an initiative in developing healthcare infrastructure and launch of several vaccination programs. Countries from Rest of the World, such as Mexico and Brazil, are expected to occupy a major chunk of the global market. Rising awareness towards needle-free drug delivery systems has boosted the growth of the global needle-free drug delivery devices market during the forecast period.
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Some of the key players in the global needle-free drug delivery devices market are Glide Pharmaceutical Technologies Ltd., Antares Pharma, Ypsomed Holding AG, Zogeinz, and 3M.
By application, the global needle-free drug delivery devices market is segmented into pain management, pediatric injections, insulin delivery, and vaccine delivery. Pain management and insulin delivery accounted for dominant shares in the global needle-free drug delivery devices market in 2012. The risk of using needle-sticks have led to the growth in the application of needle-free drug delivery in pain management and insulin delivery.
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By technology, the global needle-free drug delivery devices market is divided into jet injections (which include micro needles), transdermal patches, and inhalers. Jet injectors are expected to grow in demand at a fast pace during the forecast period. The global needle-free drug delivery devices market is also segmented into competing needle-free technologies, which is further divided into transdermal patch, inhaler, and novel needle technology. The competing needle-free technology led the global needle-free drug delivery devices market in 2012, accounting for the highest market share.
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Needle-free drug delivery devices are expected to deliver all kinds of drugs, either passively or actively. It is considered to be the best alternative to the traditional delivery system of drugs, i.e. through needles. High demand for pain-free delivery, investments in developments, and increase in home medical care support has pushed the global needle-free drug delivery devices market further. With new improved technologies in needle-free drug delivery devices, the key market players will be able to take the market restraints in their stride.
Key Segments of the Needle-Free Drug Delivery Devices Market:
Needle-Free Drug Delivery Devices Market, by Technology
- Jet Injectors
- Competing Needle-free Technologies
- Novel needle-free technology
- Inhaler technology
- Transdermal patch technology
Needle-Free Drug Delivery Devices Market, by Applications
- Vaccine Delivery: Developing Immune Response
- Pain Management
- Insulin Delivery for Diabetes
- Paediatric Injections
Needle-Free Drug Delivery Devices Market, by Geography
- North America
- Rest of the World
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