Needle-Free Injection System Market Investigation Expose Enhanced Growth during the forecast Period, 2021-2031 | PharmaJet , Portal Instruments, Medical International Technology, Inc, NuGen Medical Devices

The global needle-free injection system market was valued at USD 124.4 million in 2021 and it is anticipated to grow up to USD 596.9 million by 2031, at a CAGR of 17.0% during the forecast period.

New York, According to a new market research report published by Global Insight Services Needle-Free Injection System Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Needle-free injection systems are used to administer liquid formulations, drugs, and vaccines into patients without piercing the skin with a conventional needle. The demand for these systems has increased considerably in the recent years as they improve immune response to vaccines, eliminate risks of needles, and reduce healthcare costs.

View Detailed Report Description : https://www.globalinsightservices.com/reports/needle-free-injection-system-market

Market Trends and Drivers

High prevalence of infectious diseases globally will fuel the market growth. Despite significant improvements in sanitation and medicine, the global prevalence of infectious diseases is still high. Although non-communicable diseases are the leading causes of morbidity and mortality, infectious diseases remain a major public health concern globally. According to the National Institute of Allergy and Infectious Diseases (NIAID), annually, infectious diseases claim more than 15 million lives globally. In 2019, according to the World Malaria Report by the World Health Organization (WHO), 229 million cases of malaria occurred worldwide. The WHO African Region, with an estimated 215 million malaria cases in 2019, accounted for about 94% of the malaria cases. Similarly, as per the WHO 2021 data, there were an estimated 37.7 million people living with HIV at the end of 2020, over two-thirds of whom (25.4 million) are in the WHO African Region. The growing prevalence of chronic diseases has resulted in a significant increase in demand for biologics (large-molecule drugs). Most large-molecule drugs are administered through injectable.

Request Sample Report : https://www.globalinsightservices.com/request-sample/GIS10335

Market Restraints and Challenges

Higher cost of development as compared to conventional injection systems may impede the industry growth. The overall development cost of a needle-free injection system is relatively higher due to the additional associated costs such as high infrastructural and labor costs. Development costs also increase due to the complexity of these devices. High investments in development result in a high cost of units, which decreases the adoption of these devices by patients. Sterilizable needles and conventional needle injections are the most affordable options at USD 5 to 15 for 1,000 injections. However, needle-free injections require very high initial investments and are likely to be more expensive as manufacturers are required to spend more on the production standard and quality control of the devices. The starter kits for needle-free injections themselves cost around USD 165 for AdvantaJet, USD 260 for Injex 30, and USD 300 for Medi-Jector. Owing to these high costs, affordability becomes a major issue for needle-free injection devices as compared to conventional needle injections. In addition to this, meeting all the standards and specifications makes the manufacturing process costlier than traditional injections.

Global Needle-Free Injection System Market Segmental Overview

The report analyses the global needle-free injection system market based on product, technology, application, end-use, and region.

Global Needle-Free Injection System Market by Product

Based on product, it is segmented into fillable needle-free injectors and prefilled needle-free injectors. Among these, in 2021, the fillable needle-free injectors accounted for the larger share of the needle-free injection system market. The large share of this segment can be attributed to the increasing application of needle-free injections in vaccination, insulin, and other drug delivery.

Major Players in the Global Needle-Free Injection System Market

The key players in the market are PharmaJet (US), Portal Instruments (US), Medical International Technology, Inc (MIT) (US), NuGen Medical Devices (Canada), Crossject SA (US), Antares Pharma, 3M, Injex Pharma AG, and INVIO Pharmaceutical Inc. among others.

Free Customization Available : https://www.globalinsightservices.com/request-customization/GIS10335

Reasons to buy Needle-Free Injection System Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

Contact Us:

Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

This release was published on openPR.