According to a latest study by Future Market Insights (FMI), global needle-free injectors market are expected to reach US$ 12.3 Bn in 2021, surging at 11.9% CAGR during the forecast period (2021-2031).
Needle-free injection is an innovative drug delivery technology that drives drugs to the skin using force which virtually nullifies the use of hypodermic needle. With growing preference for non-invasive drug delivery system and vaccines, adoption of needle-free injectors is expected to improve over the coming years
Application of needle-free injectors is increasing with rising incidence of diabetes and other chronic diseases across the globe. With increasing number of surgeries, demand for minimally invasive procedures is accelerating the sales of needle-free injectors.
According to Centers for Disease Control and Prevention (CDC), more than 51% of adults in U.S. had at least 1 chronic condition, and 27.2% had multiple chronic conditions in 2018.
Other factors driving the global demand are cost-effectiveness and safety related to needle-free injectors.
https://www.futuremarketinsights.com/reports/sample/rep-gb-13960
Key Takeaways from Needle-free Injectors Market study
“Growing prevalence of chronic diseases coupled with rising preference of non-invasive drug delivery system will improve the adoption of needle-free injectors. With rising demand for needle-free injectors, key players are introducing new product launches and are aiming for fast track approvals to capitalize on existing opportunities and sustain their position in the industry “says the FMI Analyst.
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New product launches and approvals, agreements, and collaborations are some of the key growth strategy adopted by the key players. By focusing on these strategies, key players intend to expand their global presence and strengthen their existing product portfolio.
The key market players covered by FMI include Pfizer, Inc., Gerresheimer AG, Ferring Pharmaceuticals, CSL Limited (Seqirus UK Limited) and others.
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