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[COVID-19 SERIES] The needle free drug delivery devices market is estimated to be worth $153 million in 2019 and is expected to grow at CAGR of 15% during the forecast period. In addition, the market for microneedle devices is expected to grow from around $40 million in 2025 to $206 million by 2030, at an annualized rate of close to 39%. Chronic clinical conditions, such as diabetes, cardiovascular disorders, certain types of neurological disorders, and cancer, are considered to be among the leading causes of death and disability across the world. The Center for Managing Chronic Disease at the University of Michigan recently reported that over 50% of the global population is suffering from some form of chronic disease. Despite significant advances in drug / therapy development for the treatment of chronic diseases, there are several concerns related to the delivery of such therapeutics. Since most medications are developed for parenteral delivery, dosing errors and accidental needlestick injuries are some of the primary areas of concern. In fact, needle phobia is officially recognized as a medical condition by the American Psychiatric Association in its Diagnostic and Statistical Manual of Mental Disorders and is known to affect nearly 10% of the population. The Needlestick Safety and Prevention Act, which was signed into law in the US in November 2000, encouraged the development of a variety of needleless syringes / safety syringes, such as needle-free injection systems, microneedle patches and microneedle pens. A sustained focus towards self-injection has also facilitated significant advances in drug development and administration. In fact, the self-injection devices market is characterized by the presence of a myriad of advanced and innovative drug delivery solutions, such as (in alphabetical order) autoinjectors, jet injectors, large volume wearable injectors, microneedles, pen injectors, needleless syringes and prefilled syringes. In fact, these drug delivery devices can prove to be potential vehicles for drug administration in disease outbreaks / pandemics (such as the one being faced due to the novel corona virus / COVID-19), where medical centers may not be equipped to deal with large masses for delivery of therapeutic / preventive vaccines (once these get approved).
The concept of needle free drug delivery is realized using a variety of actuation mechanisms (such as spring- or gas-powered devices) that are capable of facilitating the delivery of therapeutic interventions without the use of needles. On the other hand, microneedles are extremely minute needles (of the order of a few micrometers), which are designed to deliver drugs across the dermis. It is worth highlighting that such delivery systems are primarily based on the subcutaneous / intradermal and transdermal routes. The field of needleless drug delivery continues to witness significant advances, in terms of innovation in drug / therapy administration (such as dose tracking and real-time updates) and the development of compatible drug formulations. As a result, several stakeholders in the healthcare industry have developed interest in this upcoming field, and have launched product development / commercialization initiatives in the recent past.
Examples of key companies engaged in needle free drug delivery devices market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Inovio Pharmaceuticals, Medical International Technology, D'Antonio Consultants International, Enesi Pharma, PharmaJet, Inolife Sciences, NanoPass Technologies, 3M, Micropoint Technologies and Nemaura Pharma. This market report includes an easily searchable excel database of all the companies providing needle free injection systems, worldwide.
Several recent developments have taken place in the field of needle free drug delivery devices market. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.
The “Needle Free Drug Delivery Devices Market, 2019-2030” market report features an extensive study of the current market landscape, market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunities of the needle free drug delivery devices market.
Amongst other elements, the market research report includes:
The key objective of needle free drug delivery devices market report is to provide a detailed market analysis in order to estimate the existing market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunity for needle free drug delivery devices market during the forecast period. Based on various parameters, such as number of marketed / pipeline products, existing price of devices (for commercially available products only) and estimated annual adoption rate, we have provided an informed estimate on the likely evolution of the market over the forecast period 2019-2030. For needle-free injection systems, the market report also features the likely distribution of the current and forecasted opportunity across [A] different types of actuation mechanisms (spring-based, gas powered and others), [B] routes of administration (subcutaneous, intramuscular and intradermal), [C] target disease indication (infectious diseases, diabetes, pain disorders and others), [D] product usability (disposable and re-usable) and [E] key geographical regions (North America, Europe, Asia and Rest of the World). Similarly, the projected future opportunity for microneedle devices has been analyzed across [A] various types of microneedle devices (hollow, solid and dissolving), [B] target disease indication (infectious diseases, osteoarthritis, pain disorders, cancer, and others), [C] type of intervention (vaccines, therapeutic agent and others), and [D] key geographical regions (North America, Europe, Asia and Rest of the World). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, representing different tracks of the industry’s growth.
The opinions and insights presented in the market report were influenced by discussions held with senior stakeholders in the industry. The market research report features detailed transcripts of interviews held with the following industry stakeholders:
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market research report are in USD, unless otherwise specified.