The Needle-Free Delivery Technology market will reach $1.2BN in 2014, According to A New Report on ASDReports

Monday 2 June 2014, Amsterdam

A new report, now available on ASDReports, calculates that the global needle-free delivery technology market will reach $1.2bn in 2014 with revenues showing strong growth to 2024. These revenue forecasts and others appear in the latest report Needle-Free Delivery: Technology and Market Forecast 2014-2024 & Prospects for Leading Companies.

Although the needle-free technology market has existed for over 50 years, its adoption up to this date has been very limited. The use of a hypodermic needle and syringe as a delivery method is far more familiar amongst healthcare workers. The number of needle stick injuries and the subsequent few cases of blood borne disease contraction has led to concerns over the needle and syringe method. Other major drivers for the needle-free delivery market over the forecast period are the increasing population of the emerging market who demand novel drug delivery technologies, the growth of the biologic drug market and needle-free injection providing a means to extend drug patent life by product differentiation.

Amy To, a pharmaceutical and medical devices analyst explains: “There are a number of needle-free delivery devices currently available on the market and an exciting pipeline of products currently in development. Despite the fact that the jet injectors stands out as one of the oldest needle-free technologies on the market, it has a smaller share of the market as compared to the competing needle-free technologies market. The US jet injector market has met recent setbacks when the FDA issued guidelines in 2011 stating that medication and vaccines should only be delivered with devices that have been approved and specifically labelled as a route of administration on those medications and vaccines. Over the forecast period, it is expected that medical device manufacturers will be working a lot earlier with pharmaceutical companies in the development cycle to ensure that needle-free devices are approved and added onto the drug label. The needle-free delivery market will benefit from the strong growth of the biologics drug market. Healthcare payers will seek devices that improve patient compliance because biologic drugs are expensive and biologic manufacturers desire novel delivery methods to differentiate their product in a crowded market.”

The US is currently the leading national market; and this will be the case throughout the forecast period. The greatest restraint in the developed markets of Europe and the US is the tightening of the healthcare budgets due to the economic downturn in both areas. This will reduce adoption rates of needle-free delivery as much of the technology is still relatively novel and are very costly. The current penetration of the emerging market is minute, which offers greater scope for accelerated growth in regions such as China and India. If manufacturers can produce lower cost needle-free technologies, then there is an expanding pool of chronic disease patients who could benefit from alternative choices of therapeutic delivery. Within the emerging market, the burgeoning diabetes population will propel the novel needle market (e.g. pen needles) forward as patients look to more convenient methods to manage their treatment.

The new report provides revenue forecasts to 2024 for the world needle-free delivery market and leading regional markets. It forecasts sales in the US, Japan, Germany, France, Italy, Spain, UK, China and India. The report also forecasts sales for the segments such as jet injectors, novel needle technology, inhaler technology and patch technology. It also includes interviews with 5 leading industry experts regarding pipeline products and the needle-free delivery competitive space.  

Needle-Free Delivery: Technology and Market Forecast 2014-2024 & Prospects for Leading Companies adds to the extensive range of analytical reports on industries and markets in healthcare.