The global microneedle drug delivery systems market size is expected to grow from $3.26 billion in 2021 to $3.60 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The global microneedle drug delivery market size is expected to grow to $6.64 billion in 2026 at a CAGR of 16.6%.
What is the Global Microneedle Drug Delivery Systems Market?
The microneedles drug delivery systems market consists of sales of microneedle drug delivery systems by entities (organizations, sole traders, and partnerships) which allow the users to adapt to the safer alternative process of drug delivery. Microneedles drug delivery system is a device with hundreds of microneedles on a patch that delivers a sufficient amount of drug in treatment. Microneedles drug delivery systems are also known as microneedle patches.
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What drives the Global Microneedle Drug Delivery Systems Market?
Increasing 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. For instance, in 2020, The University of Connecticut, Vaxess, and Verndari are using microneedles to deliver viral proteins into the skin, where they induce an immune response. 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 microneedle drug delivery systems going forward.
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Global Microneedle Drug Delivery Systems Market Segments
The global microneedle drug delivery systems market is segmented:
By Technology: Hollow, Porous, Solid, Others
By Application: Drug Delivery, Vaccine Delivery, Others
By End-User: Diagnostics Laboratories, Life Sciences, Research Laboratories, Hospitals, Ambulatory Surgical Centers, Others
By Geography: The regions covered in the microneedle drug delivery systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Microneedle Drug Delivery Systems Global Market Report 2022provides market size and growth forecasts for the global microneedle drug delivery systems market, global microneedle drug delivery systems market share, microneedle drug delivery systems market segments and geographies, microneedle drug delivery systems market competitive landscape including leading competitors’ revenues, profiles and market shares. The microneedle drug delivery systems market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Microneedle Drug Delivery Systems Industry Playersinclude 3M, Zosano Pharma, Becton-Dickinson Technologies, Nanopass Technologies, Corium, Valeritas, Microdermics, TheraJect Inc, LTS Lohmann Therapie-Systeme AG, and BioSerenTach (BT). Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
