Market Research Report
Global Needle-free Drug Delivery Devices Market - Segmented by Technology, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||659351|
|Published||Content info||108 Pages
Delivery time: 1-2 business days
|Global Needle-free Drug Delivery Devices Market - Segmented by Technology, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)|
|Published: June 12, 2018||Content info: 108 Pages||
The global needle-free drug delivery devices market is expected to register a CAGR of approximately 9.7% over the forecast period of 2018-2023. Needle-free drug delivery injects the biologics without pain, anxiety, and need for handling the needles, and the market studied is primarily driven by the prevalence of chronic diseases and technological advancements in the field. By region, owing to the presence of a large target population suffering from chronic diseases, improving healthcare infrastructure in several countries, and prospering economies attracting multinational biopharmaceutical companies to invest in India, China, and other South Asian countries, it is estimated that Asia-Pacific has a high-growth potential during the forecast period.
As modern lifestyle encourages independence, the way people use medications also gets affected. Self-administration of insulin is the state-of-the-art technology in diabetes care. Although with through technological development, the process is also advancing toward other medical areas, such as oncology and hormone therapy. The recent years have witnessed a high demand for pens and auto-injectors. There are several universities, hospitals, and research centers, which are collaborating and sponsoring the trials for needle-free jet injection across the globe, mainly in the United States, United Kingdom, and China. In the later half of 2017, a spin-out, Portal Instruments of Massachusetts Institute of Technology, collaborated with Takeda Pharmaceuticals, for the development and commercialization of PRIME, for testing antibodies in patients with ulcerative colitis or Crohn's disease. Therefore, with partnerships and technological advancements, the inclination toward self-administration of drugs is expected to boost the growth of the market studied, over the forecast period.
The other vitals factors driving the market studied are - rising prevalence of chronic diseases and lifestyle disorders and technological advancements in the minimally invasive devices market.
There are considerable limitations associated with micro-needle patches, in practical and economic terms. The micro-needle arrays have a restricted amount of drug that can be coated over a finite surface area of the micro-needle structures, thereby creating issues of adequate physio-chemical properties. In addition, the deposition of polymer in skin due to micro-needle, potential clogging of the needle openings with tissue during skin insertion, and flow resistance due to dense dermal tissue make them undesirable for use. Moreover, the silicon used is expensive and have elaborated fabrication, long fabrication times, and complex multi-step processing. There are several other associated restrictions, creating significant variation in results, based on analysis of the micro-needle penetration. Thus, the barriers associated with the micro-needle patches limit the growth of the needle-free drug delivery devices market, over the forecast period.
Asia-Pacific is expected to promise considerable growth opportunities over the forecast period, in the market studied. Large patient pools of chronic diseases, particularly diabetes, cardiovascular diseases, and cancer, are major drivers in the emerging markets. Several universities and research centers across China, Thailand, Vietnam, and South Korea have collaborated with companies or hospitals, to conduct the trials registered in clinicaltrial.gov. These are funded by the governments and companies from the developed markets. Thus, over the forecast period, the region is expected to witness the highest growth rate.
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