USD 2.83 billion
Microneedle Drug Delivery Systems Market Size, Share, Growth Analysis, By Application(Drug Delivery, Vaccine Delivery, Dermatology, Others), By Type(Solid, Hollow, Coated, Dissolvable), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2591 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|Tables:
65
|Figures:
65
Microneedle Drug Delivery Systems Market Insights
Global Microneedle Drug Delivery Systems Market size was valued at USD 2.83 billion in 2022 and is poised to grow from USD 3.02 billion in 2023 to USD 5.13 billion by 2031, growing at a CAGR of 6.83% in the forecast period (2024- 2031).
The market for microneedle drug delivery systems is experiencing significant growth, primarily driven by the demand for safer alternatives to conventional hypodermic injections. The adoption of these systems addresses safety concerns and offers short and long-term benefits for patients, healthcare providers, and regulators. Growing research and development initiatives further contribute to the market's expansion.
Moreover, the introduction of microneedle patches has facilitated easier and more accessible vaccinations for preventable diseases like measles. This is particularly important considering the high contagiousness of measles and the need for efficient vaccination strategies to control its spread. The demand for safer vaccination methods, coupled with the ability of minimally trained healthcare workers to administer microneedle patches, adds to the market's growth potential.
Overall, the rising awareness of the benefits of Microneedle Drug Delivery Systems and their application in vaccinations and other medical conditions are driving factors for the market's continuous growth.
US Microneedle Drug Delivery Systems Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Solid
Fastest Growth
Hollow
Growth Rate
6.83% CAGR
Global Microneedle Drug Delivery Systems Market ($ Bn)
Country Share for North America Region (%)
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Microneedle Drug Delivery Systems Market Segmental Analysis
The global microneedle drug delivery systems market is segmented on the basis of type, application, material, region. By type, the market is segmented into solid, hollow, coated, dissolvable. By application, the market is segmented into drug delivery, vaccine Delivery, Dermatology, Others. By material, the market is segmented into silicon, metal. By Region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Microneedle Drug Delivery Systems Market Analysis By Application
This market is projected to witness significant growth, primarily driven by anticipated technological advancements, including the use of microneedle patches, and the increasing adoption of transdermal drug delivery for various medical conditions such as pain management, congestive heart failure, and hormone replacement therapies. These advancements are poised to revolutionize drug delivery and enhance patient experiences.
Despite the optimistic outlook, the market also faces challenges that could impede its progress. Issues such as drug degradation, poor absorption, local irritation, and variability in absorption present hurdles that need to be addressed to ensure the seamless functioning of microneedle drug delivery systems.
However, the market's prospects remain bright as industry stakeholders are actively working to overcome these challenges and improve the efficacy of microneedle drug delivery systems. The growing demand for efficient and patient-friendly drug delivery methods further augments the market's potential.
Global Microneedle Drug Delivery Systems Market By Type
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Microneedle Drug Delivery Systems Market Regional Insights
The Asia Pacific region is projected to experience substantial growth in the microneedle drug delivery systems market, attributed to factors such as a growing population, changing lifestyles, increased patient awareness, and rising per capita expenditure. Moreover, the region's economic growth and efforts to improve healthcare infrastructure, particularly in countries like India and China, are further supporting this growth. Additionally, the efficacy of cosmetic products is improving, which contributes to the advancement of healthcare facilities.
In North America, the microneedle drug delivery systems market is also expected to witness significant growth during the forecast period. This growth can be attributed to the increasing prevalence of chronic diseases, skin diseases, and infectious diseases in the region. Furthermore, advancements in drug delivery systems, the adoption of highly advanced techniques and systems in microneedle fabrication, and technological innovations in microneedle drug delivery are driving market expansion. The awareness of the availability of new microneedle drug delivery systems is also playing a key role in driving the market's rapid growth in the region.
Global Microneedle Drug Delivery Systems Market By Region
- Largest
- Fastest
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Microneedle Drug Delivery Systems Market Dynamics
Microneedle Drug Delivery Systems Market Drivers
Growing Geriatric Population
- The aging global population is driving the demand for more convenient and user-friendly drug delivery methods, fostering the adoption of microneedle systems.
Enhanced Patient Compliance
- Microneedle drug delivery systems offer a patient-friendly and self-administered approach, leading to better treatment adherence and improved patient outcomes.
Microneedle Drug Delivery Systems Market Restraints
Limited Drug Compatibility
- Not all drugs are suitable for delivery through microneedles, limiting the range of medications that can be administered using these systems.
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Microneedle Drug Delivery Systems Market Competitive Landscape
Currently, the global microneedle drug delivery systems market is characterized by intense competition and dynamic advancements. Several prominent players are dominating the landscape, while numerous emerging companies are making strides to gain market share. Established pharmaceutical and medical device companies are actively investing in research and development to develop innovative microneedle-based products. These companies are leveraging their extensive resources, regulatory expertise, and established distribution networks to position themselves favorably in the market.
At the same time, startups and technology-focused firms are making significant contributions to the market's growth with their cutting-edge microneedle technologies and novel drug delivery approaches. Their agility and focus on disruptive solutions are making them formidable contenders in the competitive landscape. Collaborations and strategic partnerships are common in the industry, with pharmaceutical companies collaborating with technology developers to combine their drug formulations with advanced microneedle delivery platforms. These alliances aim to accelerate product development and commercialization.
Regulatory approvals and intellectual property rights are playing a crucial role in shaping the competitive dynamics. Companies with strong patent portfolios and successful regulatory clearances are enjoying a competitive advantage, making it challenging for new entrants to penetrate the market.
Overall, the global microneedle drug delivery systems market is exhibiting a highly competitive and innovative environment, with companies striving to differentiate themselves through technological advancements, strategic partnerships, and a focus on meeting the unmet needs of patients and healthcare providers.
Microneedle Drug Delivery Systems Market Top Player’s Company Profiles
- 3M (USA)
- Becton, Dickinson and Company (BD) (USA)
- Johnson & Johnson (USA)
- Corium, Inc. (USA)
- Zosano Pharma Corporation (USA)
- Medtronic plc (Ireland)
- TheraJect, Inc. (USA)
- Vetter Pharma International GmbH (Germany)
- Lohmann Therapie-Systeme AG (Germany)
- NanoPass Technologies Ltd. (Israel)
Microneedle Drug Delivery Systems Market Recent Developments
-
In December 2023, Kindeva Drug Delivery and Orbia Advance Corporation's Fluorinated Solutions business announced a collaboration. They plan to change over existing pressurized Metered Dose Inhaler (pMDI) items to Koura's supportable clinical fuel, HFA 152a (Zephex 152a). This association centers around decreasing carbon emissions byproducts from respiratory healthcare by progressing to low global warming alteration expected pMDIs. The objective is to work with the change of pMDI items to harmless to the ecosystem force 152a and move them through the clinical turn of events, at last giving patients more practical inhaler choices.
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In October 2023, JW Pharmaceutical, a Korean pharmaceutical organization, declared an examination organization with Theraject Asia, a microneedle Research and Development Organization, to foster a hair loss treatment. JW Pharmaceutical's Drug Research Center will utilize Theraject Asia's high-level stage to make microneedle answers for treating people going bald.
Microneedle Drug Delivery Systems Key Market Trends
- Growing Demand for Pain-Free Drug Delivery: Microneedle drug delivery systems offer a less painful and minimally invasive alternative to traditional injections, driving their adoption among patients and healthcare providers.
- Advancements in Nanotechnology: Ongoing advancements in nanotechnology are enabling the development of more precise and efficient microneedle devices, allowing targeted drug delivery and reducing the risk of adverse effects.
Microneedle Drug Delivery Systems Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our microneedle drug delivery systems market analysis, The global microneedle drug delivery systems market has been experiencing remarkable growth and a surge in innovation. These microneedle systems have gained widespread acceptance owing to their non-invasive characteristics, improved patient compliance, and precise drug targeting capabilities. Key observations reveal a significant increase in research and development endeavors aimed at enhancing the effectiveness and safety of these delivery systems.
The market is projected to witness continued expansion, driven by several factors. The prevalence of chronic diseases is on the rise, necessitating more efficient and patient-friendly drug delivery methods, which microneedles provide. Additionally, advancements in nanotechnology have paved the way for more sophisticated and targeted microneedle devices, further propelling market growth. Moreover, the adoption of wearable and patch-based drug delivery systems is also contributing to the increasing demand for microneedle technology.
Furthermore, regulatory bodies have been granting approvals for novel microneedle-based products, underscoring the industry's potential for future growth. Collaborations between pharmaceutical companies and technology developers are fostering innovation and facilitating the introduction of cutting-edge microneedle products to the market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2.83 billion |
| Market size value in 2031 | USD 5.13 billion |
| Growth Rate | 6.83% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Microneedle Drug Delivery Systems Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Microneedle Drug Delivery Systems Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Microneedle Drug Delivery Systems Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Microneedle Drug Delivery Systems Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Microneedle Drug Delivery Systems Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Microneedle Drug Delivery Systems Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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