The global microneedle drug delivery systems market size is expected to be worth around US$ 12.1 billion by 2030, according to a new report by Vision Research Reports.
The global microneedle drug delivery systems market size was valued at US$ 8.7 billion in 2020 and is anticipated to grow at a CAGR of 6.3% during forecast period 2021 to 2030.
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Microneedle Drug Delivery Systems Market (By Type: Solid, Hollow, Dissolving, Coated; By Material: Silicon, Metal, Polymer; By Application: Dermatology, Drug Delivery, Pain Management, Cancer Therapy, Vaccine Delivery) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||US$ 12.1 Bn by 2030|
|Growth Rate||CAGR of 6.3% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Type, material, application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Raphas; Novartis International AG; Becton Dickinson and Company; B. Braun; Nanopass Technologies Limited; Termo; Smiths Medical; Cardinal Health; 3M|
The growing demand for safer alternatives to the conventional hypodermic injection and increasing awareness regarding minimally invasive and pain-free administration of drugs are expected to boost the market growth. Furthermore, the increasing cases of diabetes are expected to boost the market growth. For instance, according to the International Diabetes Federation (IDF), the number of diabetics has already reached 463 million and is predicted to rise in the next 10 years.
Drug delivery via microneedles is one of the most efficient procedures compared to traditional hypodermic injections. Microneedles are a self-administering platform for transdermal medication delivery that has a high drug bioavailability.
By Type Analysis
The hollow microneedle segment accounted for the largest revenue share of more than 26.0% in 2020. Hollow microneedles are commonly used to deliver vaccines and hormones, which include insulin for diabetic patients.
The dissolving microneedle segment is expected to grow at the fastest rate during the forecast period. As the dissolving microneedle is a less painful method of delivering active ingredients than the syringe, it only requires one step as the microneedle needs not to be removed after insertion.
By Material Analysis
The metal material segment accounted for the largest revenue share of more than 27.0% in 2020. Stainless steel and titanium are the most frequently employed metals. Other metals used are palladium, nickel, and palladium-cobalt alloys.
The silicone material segment is estimated to witness considerable growth from 2021 to 2028. The segment growth can be attributed to its flexibility, which allows it to produce needles of various sizes and shapes. It is a versatile material due to its attractive physical features.
By Application Analysis
The drug delivery segment held the largest revenue share of more than 36.0% in 2020. Insulin is a hormone that is made up of peptides. The drug is recommended for patients with high blood sugar levels.
The vaccine delivery segment is expected to expand at the fastest CAGR of 7.3% from 2021 to 2030. The increased awareness regarding vaccination among the population has led scientists to develop new approaches to vaccine administration.
By Regional Analysis
North America dominated the market and accounted for a revenue share of over 40.0% in 2020. Patient outcomes and safety are of utmost importance in the U.S., and different projects have been formed to improve healthcare quality and reduce costs.
In Asia Pacific, the market is estimated to register the fastest CAGR during the forecast period. The spread of the COVID-19 pandemic across APAC has highlighted shortcomings and faults in the region’s healthcare system and the interconnectedness between health security and economic stability.
- Novartis International AG
- Becton Dickinson and Company
- B. Braun
- Nanopass Technologies Limited
- Smiths Medical
- Cardinal Health
- By Type
- By Material
- By Application
- Drug Delivery
- Pain Management
- Cancer Therapy
- Vaccine Delivery
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- North America
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The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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