The Impact of the Different Market Factors on Needle Free Injection Systems Market.pdf
The global needle-free injection system market, in terms of value, is projected to reach USD 20.17 Billion by 2021 from USD 9.81 Billion in 2016, at a CAGR of 15.5% during the forecast period. Growth in this market is mainly driven by growing prevalence of chronic disease, increasing incidence of communicable disease due to needle stick injuries, rising demand for biosimilars and vaccination, advantages of drug delivery technology, increasing demand for self-injection devices. On the other hand, high development cost of needle-free injection systems over the conventional needle injection may hinder the growth of this market during the forecast period. Based on the technology, the market is divided into Jet-based needle-free injectors, spring-based needle-free injectors, laser-based needle-free injectors and vibration-based needle-free injectors. The jet-based needle-free injector is expected to account for the largest market share in 2016, due to their advantages over the other injector systems. Based on the Applications, the market is segmented into vaccine delivery, insulin delivery, Oncology, pain management and other applications; the vaccine delivery application segment is projected to be the fastest-growing segment during forecast period in 2016. The growth of this market primarily attributed to factors such as the rising incidence of chronic diseases, technological advancement, and growing preference for self-medication. Based on the end user, the market is segmented into Hospitals and Clinics, home care settings, research laboratories, pharmaceutical and biotechnological companies and other end user. The hospitals and clinics segment is expected to grow at the highest rate in the forecast period. The growth in this segment can primarily be attributed to the advancement in the medication or drug delivery technology and rising geriatric population. Based on the type, the market is segmented into Liquid-based, projectile-based, powder-based needle-free injectors. The liquid-based needle-free injectors segment is projected to be the fastest-growing segment during forecast period in 2016. The advantages of this mode of delivery have drawn the attention of a number of market players.
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