Microneedle Drug Delivery Systems Market by Type (Solid, Hollow, Dissolving, Coated, Other Types)
Industry: Healthcare
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP33284
Newly-released Microneedle Drug Delivery Systems Market analysis report by Persistence Market Research shows that global sales of the Microneedle Drug Delivery Systems Market in 2022 was held at US$ 6.1 Billion. With a CAGR of 5.4% from 2023 to 2033, the market is projected to reach a valuation of US$ 10.9 Billion by 2033. Hollow Microneedle Drug Delivery Systems is expected to be the highest revenue-generating segment, accounting for an expected CAGR rate of 6% from 2023 to 2033.
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Attribute |
Details |
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Global Microneedle Drug Delivery Market (2023) |
US$ 6.4 Billion |
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Global Microneedle Drug Delivery Market (2033) |
US$ 10.9 Billion |
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Global Microneedle Drug Delivery Market (2023 to 2033) |
5.4% |
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U.S. Microneedle Drug Delivery Market (2023 to 2033) |
5.5% |
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Key Companies Profiled |
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As per the Microneedle Drug Delivery Systems Market research by Persistence Market Research - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased at around 4.9% CAGR.
Microneedles are very small needles that may be measured in millionths of a meter. Compared to conventional needles and syringes, they have many advantages over these methods for delivering biological agents. Microneedle drug delivery is employed in applications such as dermatology, neurology, cardiology, and oncology, in the pharmaceutical, biotechnology, and medical industries.
The rising interest in nonoral routes of drug administration, such as transdermal and intradermal drug delivery systems, early-phase disease diagnosis and treatment, and a rapidly expanding population is driving the growth in the demand for microneedle drug delivery systems during the forecasted period.
Drug degradation, poor absorption, and changeability in absorption may affect the market growth in the forthcoming years. Owing to these factors, the market is projected to grow at a CAGR of 5.4% over the coming 10 years.
The primary benefit of Microneedle Drug Delivery Systems is that they provide safer alternatives to conventional hypodermic injections. The popularity of microneedle drug delivery systems is also projected to increase owing to growing safety concerns.
If a new microneedle patch is used, it makes it easier to vaccinate patients against diseases. Consequently, the demand for immunization for diseases like measles has made the procedure for using the microneedle drug delivery system increasingly popular. Additionally, those who lack medical training are able to apply the microneedle patch safely and effectively.
Another key driving factor of the microneedle drug delivery system market is high adoption in varying safety issues with short-term and long-term consequences for healthcare administrators, clinical practitioners, patients, and regulators, boosting research and development initiatives, and growing demand for a safer alternative to conventional hypodermic injections.
A microneedle patch developed by the Centers for Disease Control and Prevention may help reduce the risk of measles and other vaccine-preventable infections. Measles is a highly contagious virus that can infect a large number of people; therefore, caution should be taken during vaccine preparation and inoculation to prevent infection.
Measles has affected over 20 million people globally every year, but significant vaccination coverage has been maintained for the last several years at around 85%.
Microneedle patches are designed to be applied by people with little or no medical training, as well as to make storage, distribution, and disposal easier. According to the World Health Organization (WHO), the number of new cancer cases is predicted to climb by nearly 70% over the next two decades, creating a demand for microneedle patches for drug delivery.
The market will also be fuelled by advancements in microneedle patches, as well as an increase in applications of transdermal drug delivery for hormone replacement, pain management, and congestive heart failure. The microneedle drug delivery system market is projected to be hampered by drug degradation, local discomfort, poor absorption, and absorption variability.
Which Region is projected to offer the Largest Opportunity for Microneedle Drug Delivery Systems Market?
North America accounted for a significant share of the global market and accounted for an absolute dollar growth of US$ 1.7 Billion from 2023 to 2033. Since North America spends substantially on healthcare is a key factor driving the expansion of the market.
Which Country Lies at the CenterStage for Microneedle Drug Delivery Systems Market Revenue?
The United States is expected to account for a market of US$ 3.8 Billion by the end of the forecast period. The large market in the U.S. is due to the fact that the use of microneedle drug delivery systems has extended its applications to many fields, such as vaccine administration, hormonal delivery, cancer therapy, pain management, and even cosmetics which boosts the market growth in the country.
What are the insights about Metal based microneedle drug delivery system?
Market revenue through the metal-based microneedle drug delivery systems grew CAGR of 5.5% between 2018 and 2022. The most commonly used metals in microneedle drug delivery systems are stainless steel and titanium. Palladium, palladium-cobalt alloys and nickel are among the other metals employed. They are mechanically and biologically compatible. Metals are superior for microneedle manufacturers as they are more resistant to breakage. The first metal utilized in the production of microneedles was stainless steel. As a result, the aforementioned factors are expected to boost segment growth.
Why do Hollow microneedle drug delivery systems stand as one of the potential segments in the market revenue?
Hollow microneedle drug delivery systems accounted for a significant share in the market. Vaccines and hormones, including insulin for diabetic patients, are widely delivered using hollow microneedles. Because more drug can be crammed into the empty area inside the needle, these microneedles can provide a higher dose of medication, making them excellent for vaccination and hormone therapy patients.
According to the International Diabetes Federation, 374 million people globally are at risk of getting Type 2 diabetes. As a result, rising diabetes rates are likely to move the industry forward.
How did COVID-19 Impact Revenue Generation from Microneedle Drug Delivery Systems Market?
Microneedle drug delivery systems are being used in a variety of sectors, including vaccine administration, hormonal delivery, cancer therapy, pain management, and cosmetics. In recent years, a slew of microneedle products has hit the market. Although, before microneedles can be successfully launched into the market, additional study is required to overcome numerous problems.
Carnegie Mellon University, for example, is developing a COVID-19 vaccine administration technique employing 3D-printed hybrid microneedle arrays. Apart from allowing for lower doses, this approach is also painless and has the benefits of self-administration. These technologies will enable the production of microneedles at a lower cost, resulting in increased market growth.
Sensitive skin may experience discomfort or allergies. Microneedle tips may shatter, causing issues if they remain inside the skin because the needles are small and thin in comparison to the thickness of hair. This involves the hiring of medical professionals that are highly competent and qualified. Furthermore, regulatory organizations around the world only allow a restricted number of goods, which may limit the product's uniformity and efficacy.
The healthcare system has faced significant hurdles as a result of the COVID-19 pandemic. Because most chronic pain therapies were considered non-urgent, all outpatient treatments were curtailed or canceled during the COVID-19 pandemic to reduce the danger of viral transmission. COVID-19, on the other hand, is seen as a launching pad for a massive surge in patient traffic following the epidemic. Since then, demand for COVID-19 vaccines is predicted to grow, and the market for non-invasive and painless microneedle drug delivery devices is expected to grow even faster.
The key players operating in the microneedle drug delivery systems market include Raphas Co. Ltd., Becton Dickinson and Company, NanoPass Technologies Limited, 3M, Zosano Pharma Corporation, Corium International Inc., Valeritas Inc., Nitto Denko Corporation, Microdermics Inc., TheraJect Inc., Vaxxas Pty Ltd., Endoderma Ltd., QuadMedicine, SNvia Co. Ltd., and Small Lab.
Some of the recent developments of key Microneedles Drug Delivery Systems providers are as follows:
Similarly, recent developments related to companies offering Microneedle Drug Delivery Systems have been tracked by the team at Persistence Market Research, which is available in the full report.
By Type
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By Application
By Region
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The global market is worth more than US$ 6.1 Billion at present.
The market value is projected to increase at a CAGR of around 5.4% from 2023 to 2033.
The market value increased at a CAGR of around 4.9% from 2018 to 2022.
The growing interest in alternative methods of drug administration such as transdermal and intradermal drug delivery systems, early-phase illness detection and treatment, and a fast-growing population are the key factors driving the microneedle drug delivery systems market.
The market in China is projected to expand at a CAGR of around 6.3% from 2023 to 2033.
While the market in South Korea is expected to grow at nearly 4.6%, the market in Japan is projected to register a CAGR of nearly 5.7% during 2023 - 2033.
