5/19/16 Micro Engineering Solutions has been in the forefront with intraocular devices at the micro level, you can see some of our work on our Micro Molding Parts page. Why is the ophthalmic world going micro sized? It is due to the rising demand for painless drug delivery options, which has fueled the demand for needle free drug delivery devices significantly across the world. Transparency Market Research (TMR) released a report regarding the market global needle free drug delivery devices market, which stood at $5.4 billion in 2014, is projected to rise to $13 billion by 2023.
Jet injectors and other competing needle-free technologies, such as inhaler, novel needle, and transdermal patch, are the major technologies utilized in needle-free drug delivery devices. Needle-free technologies is likely to rise exponentially in the nearing future, due to the growing prevalence of needlestick injuries and the consistent advancement in jet injector technology.
Vaccine delivery, pain management, insulin delivery and pediatric injections are the main application areas of needle-free drug delivery devices. Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa are the key regional markets for needle-free drug delivery devices. In 2014, North America and Europe ranked first and second, respectively, in the global needle-fee drug delivery devices market. Analysts anticipate North America to maintain its dominance in the near future. The advancement in drug delivery systems and the increasing investments in needle-free drug delivery devices to stimulate research and development activities are likely to boost this market significantly over the next few years. But who is anticipated to have the fastest growth rate? Asia Pacific, due to the increasing incidence of chronic health disorders, the infrastructural development in the healthcare industry, and the rising focus of major participants in this region.
Doctors, surgeons and patients are all screaming for non-invasive, minimal pain, easy administering drugs and procedures. Because of this the micro industry has grown exponentially and we are proud to be directly involved in this cutting edge technology. Please refer to our Micro Molded Projects to learn more.