What Factors Propelled The Growth Of The Microneedle Drug Delivery Systems Market In The Past?
The microneedle drug delivery systems market has seen considerable growth due to a variety of factors.
• The market size for microneedle drug delivery systems has experienced significant expansion in the past few years. The expected growth will take it from $5.01 billion in 2024 to $5.9 billion in 2025 with a compound annual growth rate (CAGR) of 17.9%.
Factors driving this accelerated growth during the historical period include painless medication administration, increased patient adherence, management of chronic diseases, applications in cosmetics and aesthetics, as well as vaccine administration.
What Is The Projected Growth And Market Size For The Microneedle Drug Delivery Systems Sector?
The microneedle drug delivery systems market is expected to maintain its strong growth trajectory in upcoming years.
• An accelerated expansion is anticipated within the market of microneedle drug delivery systems over the upcoming years. The market is projected to surge to a valuation of $11.44 billion by 2029, with a compound annual growth rate (CAGR) of 18.0%.
This forthcoming growth can be credited to several factors such as aesthetic and cosmetic applications, newly developing therapies, usage among pediatric and geriatric demographics, global health campaigns, and point-of-care testing. Key trends during this forecast period encompass brilliant microneedles, progress in material science, evolution in wearable technology, the production of biodegradable materials and continuous glucose monitoring.
What Are The Core Factors Supporting Growth In The Microneedle Drug Delivery Systems Market?
The surge in research and the increasing need for more efficient vaccination methods are anticipated to fuel the growth of the microneedle drug delivery systems market. Microneedles present a promising alternative method for vaccine facilities, particularly as they are designed to administer vaccines without causing pain to the recipient. Initially created for flu and measles vaccines, microneedle technologies are now extensively used in the delivery of the COVID-19 vaccine. For instance, as per the Office for National Statistics, a UK government agency, there was a significant increase in the UK government's net spending on research and development (R&D) in April 2024. Excluding contributions to the EU R&D budget, this expenditure rose to $17.01 billion (£15.5 billion) in 2022 from $15.37 billion (£14.0 billion) in 2021 - a 10.5% increase. When contributions to the EU R&D budget and knowledge transfer activities are added, the total net R&D expenditure stood at $18.006 billion (£16.4 billion) in 2022, which is an 8.9% increase from $16.46 billion (£15.0 billion) in 2021. Therefore, the escalating research and demand for the vaccination process continue to propel the microneedle drug delivery systems market.
What Are The Major Segments Within The Global Microneedle Drug Delivery Systems Market?
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
Subsegments:
1) By Hollow: Solid Hollow Microneedles, Coated Hollow Microneedles
2) By Porous: Porous Silicon Microneedles, Hydrogel-Based Porous Microneedles
3) By Solid: Solid Microneedles For Vaccination, Solid Microneedles For Drug Delivery
4) By Other Technologies: Dissolving Microneedles, Biodegradable Microneedles, Micro-Infusion Systems
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Which Trends Are Expected To Transform The Microneedle Drug Delivery Systems Market?
Leading corporations within the microneedle drug delivery sector are concentrating on product innovation, like radiofrequency microneedle systems, to offer trustworthy services to their clientele. Radiofrequency microneedle systems are a minimally invasive approach, merging microneedles and radiofrequency energy, to augment drug penetration and stimulate collagen generation in the skin for both therapeutic and aesthetic benefits. For illustration, Candela, an American medical aesthetic equipment firm, introduced the Profound Matrix system in February 2023. This comprehensive system assimilates the Sublime, Sublative RF, and the revolutionary Matrix Pro applicators. Both the Sublime and Sublative RF harness bipolar radiofrequency (RF) technology to improve the look of fine lines and wrinkles. In contrast, the Matrix Pro applicator's main goal is to revitalize and encourage collagen production. It's designed with a range of slender microneedles that deliver short-pulse RF energy to the skin, leading to increased patient comfort, decrease in recovery time, and superior overall outcomes.
Who Are the Key Players in the Microneedle Drug Delivery Systems Market?
Major companies operating in the microneedle drug delivery systems market include:
• 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.
What Is The Most Dominant Region In The Microneedle Drug Delivery Systems Market?
North America was the largest region in the microneedle drug delivery systems market in 2024. Europe 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.
