According to FutureWise analysis the market for Needle-Free Injection System in 2023 is US$ 0.18 billion, and is expected to reach US$ 0.79 billion by 2031 at a CAGR of 20.22%.
Needle-free injections may improve safety by eliminating needles from the vaccination process. A jet injector, for instance, creates a fine stream of pressurized liquid that can penetrate the skin, allowing medications and vaccines to be delivered while reducing hazardous waste management costs. The majority of biologic drugs are administered through injection, which poses a risk of needlestick injuries. Pharma companies are addressing this challenge by developing needle-free injectors and self-administered medication-device combination products that are more patient-friendly. The convenience and effectiveness of needle-free injectors such as jet injectors leads to better patient compliance, shorter hospital stays, lower healthcare costs, and are easy to use in home care settings. Self-injection technologies, which can be rapidly deployed at scale, are critical as the biopharma industry pivots to meet demand driven by the dual desire to support patient convenience and respond to chronic diseases. Though the pandemic has caused grim realities, the drug delivery market has historically shown consistent and healthy growth. During the coming period of greater stability and normality, drug deliverables are expected to flourish as the world recovers from the long-lasting effects of COVID-19. It is possible to overcome these challenges by leveraging emerging technologies in the global push for universal healthcare. Hence, it is essential to understand how technology can be used to overcome these challenges. In addition to potential benefits such as increased consistency in delivery, decreased vaccine wastage, and elimination of the need to transport large volumes of sharps, jet injectors may also lower needle stick risks and reduce sharps-waste disposal costs. Vaccines can also be delivered intradermally with jet injectors and micro-array patches. In the case of some vaccines, intradermal delivery can lead to cost savings and expanded coverage for vaccines with limited supply. Emerging countries are expected to witness significant growth in the needle-free injection system market in the coming years. As a result of chronic diseases on the rise, robust economic growth, and increase in purchasing power, the prevalence of obesity has increased.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Needle-Free Injection System Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Needle-Free Injection System Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.