There was once such a device on the market, but don't ask me what it was called or who made it.
Regardless, it's a terrible idea.
Not only is it an unnecessary fire hazard, and not only would it necessitate having both a charged magazine and an open barrel thus introducing a risk of debris being fired at cast and crew, it still won't look as good as muzzle flash added in post (which I've seen VFX people saying is extremely easy), or indeed as realistic as just not having muzzle flash at all. Good interaction with props by the actors and well thought out foley will do far more for realism that a huge fireball coming out of the muzzle, which it bears repeating is very rare to see in real life.