Newark, Dale, Sept. 16, 2022 (GLOBE NEWSWIRE) – A recently published study by FMI predicts that Needle Free Injection Market To increase the compound annual growth rate by 12% from 2022 to 2032. By the end of the said assessment period, the market is expected to be valued at US$42.79 billion. Faster drug delivery is the main driver of the needle-free injection market. Increasing demand in the healthcare sector coupled with growth in cosmetic surgery is driving up the demand for needle-free syringes.
From 2017 to 2021, the industry experienced significant growth, posting an 8% compound annual growth rate and closing at $12.3 billion. The use of technologically advanced spring-loaded jet injectors stimulates market growth. In addition, approvals from government authorities to maximize the use of needle-free syringes are accelerating demand.
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Geographically, the United States is the largest contributor to the needle-free injection market. This is due to the increasing prevalence of chronic diseases in the region. The strong presence of the healthcare sectors in Germany, Japan and China is also accelerating the use of needle-free syringes. In the coming years, the increasing trend towards minimally invasive surgery will increase sales of needle-free syringes.
The main takeaway from the market study
- By type of load, the ballistics injection segment is expected to expand at a Compound annual growth rate of 13.9% during the forecast period.
- Through technology, the spring-loaded jet injector segment will dominate the market 47.1% of revenue share in 2022.
- Through the application, drug delivery is expected to occupy the leading market share, accounting for 65.0% of revenue share in 2022.
- with 79.5% From revenue share, needle-free and reusable syringes are expected to dominate the market in 2022
- By the end user, hospitals are expected to be the primary end user, considering more 33.4% market share during the forecast period.
- The United States is expected to be the leading market across North America, representing more than 94.0% From the market in 2022
- Germany is expected to dominate Europe 29.4% Europe’s market share until 2032
- Japan is expected to hold out more than 34% market share in East Asia, showing growth at a compound annual growth rate of 11.7% During the forecast period
- China led the East Asian market by more than 46.8% The share is expected to expand at a compound annual growth rate of 12.0% Until 2032.
The healthcare sector, along with the cosmetic industry, is one of the largest contributors to the needle-free injection market. Increasing demand for minimally invasive surgery is accelerating the demand for needle-free injections.” FMI Analyst says
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The major players in the needle-free injection market are Gerresheimer AG and Pfizer Inc. and Antares Pharma, CSL Limited (Seqirus UK Limited), Crossject, Portal Instruments, Ferring Pharmaceuticals and PharmaJet Inc. and PenJet Corporation
- In August 2022, the University of Adelaide began the human pathway for a booster Omicron COVID vaccine using needle-free Pharma-Jet systems. In addition, vaccines have been administered with PharmaJet Tropis NFIS.
- Portal Instruments, a major player in the needle-free injection market, focuses on developing needle-free syringes for various chronic diseases and creating awareness regarding painless injections.
More insights available
In its new presentation, FMI presents an unbiased analysis of the global Needle Free Injector market, providing historical analysis from 2017 to 2021 and forecast statistics for the period 2022-2032.
The study reveals key insights based on load (liquid injection, powder injection, projectile injection), technology (spring-loaded jet injector, battery-powered jet injector, gas-powered jet injector), delivery site (intradermal injection, intramuscular injection, Subcutaneous injection), application (delivery of drugs, vaccines, cosmetics, other), end user (home care settings and long-term care centers) across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and the East) Middle and Africa)
About Healthcare in Future Market Insights
The healthcare team at Future Market Insights delivers expert analysis, time-efficient research, and strategic recommendations with the goal of delivering original insights and accurate results to help clients around the world. With a repertoire of over 100 reports and over a million data points, the team has been visibly analyzing the industry in more than 50 countries for more than a decade. The team provides a brief analysis of key trends including the competitive landscape, profit margin, and research development efforts.
1. Executive Summary
1.1 Global Market Outlook
1.2 Demand-side and supply-side trends
1.3 Technology Roadmap
1.4 Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Rating
2.2. Market Definition / Scope / Limitations
2.3 Inclusions and Exclusions
3. Main market trends
3.1. The main trends affecting the market
3.2 Product innovation/development trends
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