PharmaJet (US),Portal Instruments (US) and Medical International Technology, Inc (MIT) (US) are the Major Players in the Needle-Free Injection System Market
The needle-free injection system market is projected to reach USD 272 million by 2026 from USD 124 million in 2021, at a CAGR of 17.0% from 2020 to 2026. Growth in this market is mainly driven by technological advancements, increasing demand for self-injection devices, and the rising incidence of chronic diseases. With the rising geriatric population and the increasing prevalence of chronic diseases, the patient volume has increased significantly globally. This, in turn, is creating a greater demand for advanced and effective treatment approaches, including the use of needle-free injection systems. Moreover, the high adoption of advanced drug delivery technologies across the globe is supporting the growth of this market. On the other hand, limitations with large volume and intravenous administration systems are the key factors restraining the growth of the market.
The global needle-free injection market is highly fragmented, with prominent players accounting for a major share, but the presence of local players also plays a major role in the overall needle-free injection system market. Some of the players dominating the market include PharmaJet (US), Portal Instruments (US), Medical International Technology, Inc (MIT) (US), NuGen Medical Devices (Canada), Crossject SA (US), and Bioject Medical Technologies (US). These players have adopted various growth strategies such as acquisition, product launches, and expansion to increase their presence and reach in the needle-free injection system market.
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PHARMAJET
PharmaJet held the first position in the needle-free injection system market in 2020. PharmaJet is a leading provider of needle-free injectors. The company has developed PharmaJet Needle-free devices that deliver pharmaceuticals, vaccines, and liquid injectables through the skin, accomplished by the use of jet injection technology. The company’s PharmaJet Needle-free Injector is easy-to-use and eliminates needlestick injuries, needle reuse, and cross-contamination. The company majorly focuses on the inorganic strategies of partnerships and collaborations to enhance its presence in the needle-free injection system market. In this regard, in December 2021, PharmaJet partnered with Nykode Therapeutics (formerly Vaccibody) to begin a phase 1/2 clinical trial to address the emerging SARS-CoV-2 variants. In August 2021, the company partnered with Zydus for ZyCoV-D COVID-19 Vaccine administration using the PharmaJet Tropis.
PORTAL INSTRUMENTS
Portal Instruments is a Series-B funded medical device company focused on advanced drug delivery. Portal’s needle-free delivery technology is derived from research at MIT and enables the administration of high viscosity biologic drugs with less discomfort and without the anxiety of handling needles. The company’s strong focus on R&D and investments in collaborations, partnerships, and acquisitions have helped the company to secure a leading position in the market. For instance, in March-2021, its partnership with The Sumaira Foundation (TSF) for supporting and empowering patients with a needle-free solution to NMO patients. Also, in December-2019, its collaboration to develop Portal’s innovative needle-free drug delivery system for use in combination with LEO Pharma’s portfolio of investigational and approved medicines.
MEDICAL INTERNATIONAL TECHNOLOGY, INC (MIT)
MIT develops, manufactures, and markets needle-free jet injectors for veterinary and human applications through its subsidiary Medical International Technology (MIT Canada), Inc. The company has products for the human market and the animal market. MIT has domination in the market due to its expertise through R&D and has designed unique injection systems.
Related Reports:
Needle-Free Injection System Market by Technology (Jet, Spring, Micro-array Patch), by Product (Prefilled, Fillable), Type of Medication (Liquid, Powder), Application (Vaccination, Dermatology), End Users (Hospital, Homecare) - Global Forecast to 2026
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