The global needle free drug delivery devices market size is expected to reach USD 14.6 billion by 2024, according to a new report by Grand View Research, Inc., progressing at a CAGR of 10.2% during the forecast period. Increasing incidence of chronic diseases such as hepatitis A, hepatitis B, West Nile Virus Fever, and AIDS, which are susceptible to transmission due to use of injections, is one of the key factors driving the needle free drug delivery devices market.
According to AVERT, there were 36.7 million people living with AIDS at the end of 2016 and 34 million have died due to HIV till date. The African continent is the most severely affected region, accounting for 70.0% of the total people infected with HIV worldwide. According to WHO, around 350 million people have been chronically infected with hepatitis B. These key factors fuel clinical urgency for adoption of needle free drug delivery devices.
Continuous use of injections to deliver insulin causes pain and increases the risk of transmittance of infectious diseases. Thus, in order to reduce pain and risk associated with injections, the utilization rate of needle free drug delivery devices has increased significantly over the past few years. The trend is likely to grow in the coming years, providing upthrust to the market.
