Needle-Free Injection Systems Market Size to grow by USD 20153.3 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Needle-Free Injection Systems Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: According to Technavio, the global needle-free injection systems market is a significant segment within the expansive healthcare equipment industry. This sector encompasses organizations involved in the research and development (R&D) of various product categories, such as capital equipment, instruments, implants, accessories, and consumables. These products are utilized for the diagnosis, monitoring, and treatment of numerous diseases. The healthcare equipment market size is determined by the consolidated revenue generated by manufacturers of diagnostic equipment and devices. The healthcare equipment sector encompasses the following segments: Devices, which include advanced, differentiated, and clinically tested data-driven devices. - The Needle-Free Injection Systems Market is experiencing significant growth, fueled by the Increasing preference for minimally invasive biopsies. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Increasing preference for minimally invasive biopsies
  • Increasing target population demanding needle-less injections
  • Stringent regulations on medical devices
  • Limitations in large-volume and intravenous administration systems
• Growth Projections

The market size is estimated to grow by USD 20153.3 million, at a CAGR of 16.83% during the forecast period. In the healthcare industry, including hospitals, clinics, diagnostic centers, and ambulatory surgery centers (ASCs), injections using needles and syringes are essential for diagnosing, preventing, and treating various diseases. However, the use of reused or contaminated needles and suboptimal injection practices pose significant risks to patients. These risks include exposure to infectious diseases such as hepatitis B, hepatitis C, and HIV, as well as unwarranted side effects like swelling, pain, rash, redness, or bleeding at the injection site. These issues underscore the importance of implementing needle-free injection systems, which offer enhanced safety, improved patient comfort, and reduced healthcare waste.

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• Regional Insights

The Needle-Free Injection Systems market is predominantly driven by the US market, which leads the regional landscape due to several factors. These include extensive insurance coverage and reimbursements, substantial R&D expenditure, a growing geriatric population with chronic diseases, increasing incidences of needlestick injuries (NSIs), rising demand for self-administered drugs, and significant healthcare spending. According to NCBI data, approximately six million NSIs occur annually in the US. The market's growth in the US is further propelled by the adoption of needle-free systems with safety features and the presence of advanced medical facilities. Notably, states such as Indiana, Ohio, and Illinois are anticipated to witness robust growth due to the increasing number of accredited diagnostic laboratories.

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