Needle-Free Drug Delivery Devices Market Size

Needle-Free Drug Delivery Devices Market Analysis

The needle-free drug delivery devices market is expected to grow from USD 18.8 billion to USD 27.5 billion by 2028, register a CAGR of 7.9% over the forecast period.

• COVID-19 impacted the studied market, as the demand for needle-free devices increased during the pandemic for vaccination. However, the volume of these devices was not significant due to less adoption of needle-free devices over syringes. Some pharmaceutical companies and governments worked toward offering efficient medical treatment to COVID-19 patients, and needle-free drug delivery devices played a vital role in that context as these devices were used in administering drugs and vaccines.
• For instance, in December 2022, the government of India approved Bharat Biotech's intranasal vaccine for COVID-19. Also, various institutes performed research studies for the development of needle-free vaccine delivery systems. Therefore, the market reported a slight growth during the pandemic. Moreover, with the ongoing vaccinations, approval of needle-free vaccines, and the emergence of new covid strains, the demand for needle-free drug delivery devices is further expected to increase during the forecast period.
• The rising prevalence of chronic diseases requiring long hospital stays is expected to propel the market growth. As needle-free devices reduce the risk of safe needle disposal and avoid accidental needle stick injuries, propelling the market growth. For instance, according to the American Cancer Society Cancer Statistics 2023, 1.9 million new cancer cases are predicted to be diagnosed in the United States in 2023. The high burden of cancer creates an opportunity for market players the development of innovative needle-free drug delivery devices for cancer, which is expected to propel market growth.
• In addition, various research studies conducted for the development of technologically advanced needle-free drug delivery devices are also contributing to the market's growth. For instance, as per a research study published in Pharmaceutics Journal in November 2021, a compressed air-driven needle-free jet injection system with a hydro-pneumatic mechanism was designed and developed for controlled release and repeated biopharmaceutical delivery. Thus, the rising research activities to develop advanced needle-free drug delivery devices are expected to propel market growth.
• Furthermore, various companies are adopting strategic initiatives such as product innovation, launches, partnerships, and expansions for the development and expansion of needle-free drug delivery devices, propelling the market growth. For instance, in May 2022, Gerresheimer AG expanded its portfolio of technologies for drug delivery by investing in US-based Portal Instruments, a developer of a next-generation needle-free drug delivery technology. The partnership is aimed at improving the patient's experience, especially for those with chronic diseases, by transforming the administration of injectable biologics and biosimilars. Such expansions of the portfolio with innovative technologies and partnership among market players is expected to propel market growth.
• Therefore, owing to the aforementioned factors, such as the high burden of chronic diseases and rising research and development and product launches, the studied market is anticipated to witness growth over the analysis period. However, the stringent regulatory framework and limitations associated with using micro-needle patches are the few factors restraining the growth of the global needle-free drug delivery devices market.