The global market for needle-free technologies is expected to increase from $1.1 billion in 2014 to $2.1 billion by 2019.
Wellesley, Mass. (PRWEB) February 13, 2015
BCC Research (http://www.bccresearch.com) reveals in its new report on needle free technologies that during the past several decades, tremendous progress has been made toward the development of safe, effective and convenient means of drug administration. Advances have been possible because of increasing awareness about health concerns associated with traditional needle-based drug delivery devices and technological innovations to meet the current challenges.
Rising cases of needlestick injuries and the transmission of blood-borne diseases is largely responsible for the growing concern regarding needle-based drug delivery devices. Needle-free drug delivery devices are considered as an effective alternative and novel technique to introduce drugs into a patient’s body without invading the skin with a needle. It is growing in popularity and has received considerable attention during the past few years primarily due to being painless, effective and a safe drug delivery method. Needle-free drug delivery devices typically include needle-free injectors, inhalers, transdermal patches and other devices based on novel needle technologies (e.g., microneedles and advanced pen needles).
The global market for needle-free technologies was worth nearly $963.6 million in 2013. The market is expected to increase from $1.1 billion in 2014 to $2.1 billion by 2019, at a compound annual growth rate (CAGR) of 14.3%. Evolving market dynamics and growing interest toward safe, effective and advanced needle-free drug delivery technologies are the major drivers of this market.
“The goal of modern needle-free drug delivery techniques is to increase the prescribing and adoption of important drugs that require self-injection, such as biologics,” says BCC Research analyst Dr. Ritu Thakur. “Continuous innovation and availability of newer needle-free drug delivery systems have the potential to be enabling for highly viscous drug products that cannot be delivered by the traditional needle and syringe, adding to the utility of the technology.”
As more companies begin to recognize the benefits, needle-free injection technology will continue to grow in popularity, both among patients and physicians, and ultimately increase adoption of injectable drug therapies.
Needle-Free Devices, Technologies and Global Markets focuses on some key developments in the field of drug delivery, especially those that deal with the development of painless, patient-friendly alternatives to injections for the delivery of macromolecules. The study includes information about significant products, players, issues and trends, and other information affecting the needle-free drug delivery industry.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at firstname.lastname@example.org.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email information(at)bccresearch(dot)com.