Overview and Scope
Microneedle drug delivery system is a device with hundreds of microneedles on a patch that delivers a sufficient amount of drug in treatment.
Sizing and Forecast
The microneedle drug delivery systems market size has grown rapidly in recent years. It will grow from <b>$4.32 billion in 2023 to $5.13 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. </b> The growth in the historic period can be attributed to pain-free drug delivery, enhanced patient compliance, chronic disease management, cosmetic and aesthetic applications, vaccine administration.
The microneedle drug delivery systems market size is expected to see rapid growth in the next few years. It will grow to <b>$9.82 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%. </b> The growth in the forecast period can be attributed to cosmetic and aesthetic applications, emerging therapies, pediatric and geriatric use, global health initiatives, point-of-care testing. Major trends in the forecast period include smart microneedles, advancements in material science, advancements in wearable technology, biodegradable materials, continuous glucose monitoring.
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Segmentation & Regional Insights
The microneedle drug delivery systems market covered in this report is segmented –
1) By Technology: Hollow, Porous, Solid, Other Technologies
2) By Application: Drug Delivery, Vaccine Delivery, Other Applications
3) By End-User: Diagnostics Laboratories, Life Sciences, Research Laboratories, Hospitals, Ambulatory Surgical Centers, Other End-Users
<b>North America</b> was the largest region in the microneedle drug delivery systems market in 2023. <b>Europe</b> was the second-largest region in the microneedle drug delivery systems market analysis. The regions covered in the microneedle drug delivery systems market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in research and demand for the vaccination process are predicted to drive the microneedle drug delivery systems market growth. Researchers view microneedle as an alternative way to inject vaccines where the receiver of the vaccine is expected to not feel any sensation of pain. Microneedle patches vaccine was developed initially for flu and measles; however, the technology is now being used increasingly for delivery of COVID-19 vaccine as well. According to a Bloomberg report, more than 3.98 billion doses of vaccine have been administered across 180 countries until July 2021. Increased demand from government and health research and development bodies for microneedle drug delivery technology propels the market for the growth of microneedle drug delivery systems market going forward.
Key Industry Players
Major companies operating in the microneedle drug delivery systems market include <b> 3M Company, Zosano Pharma Corporation, Becton-Dickinson Technologies, Nanopass Technologies, Corium Inc., Valeritas Inc., Microdermics, TheraJect Inc., LTS Lohmann Therapie-Systeme AG, BioSerenTach (BT), Sorrento Therapeutics, Debiotech, Raphas Co. Ltd., QuadMedicine, Snvia Co. Ltd., NanoBiosciences LLC, AdminMed nanoBioSciences LLC, Nitto Denko Corporation, MyLife Technologies, Innoture Medical Technology Limited, Phillips-Medisize Corporation, Stemedica Cell Technologies Inc., Candela Corporation, Dermaroller GmbH, Micropoint Technologies, Vaxess Technologies, Micron Biomedical Inc., Kindeva Drug Delivery, Gurnet Point Capital, Moonlight Therapeutics Inc., Cutanos, Kimberly-Clark Corp., Clearside BioMedical Inc. </b>
The microneedle drug delivery systems market report table of contents includes:
1. Executive Summary
2. Microneedle Drug Delivery Systems Market Characteristics
3. Microneedle Drug Delivery Systems Market Trends And Strategies
4. Microneedle Drug Delivery Systems Market – Macro Economic Scenario
5. Global Microneedle Drug Delivery Systems Market Size and Growth
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31. Global Microneedle Drug Delivery Systems Market Competitive Benchmarking
32. Global Microneedle Drug Delivery Systems Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Microneedle Drug Delivery Systems Market
34. Microneedle Drug Delivery Systems Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
3M Company
Zosano Pharma
Becton-Dickinson Technologies
Nanopass Technologies
Corium Inc
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