The Microneedle Drug Delivery Systems Global Market Report 2023 by The Business Research Company, provides microneedle drug delivery systems market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Microneedle Drug Delivery Systems Global Market Report 2023, the market size grew from $3.62 billion in 2022 to $4.07 billion in 2023 at a compound annual growth rate (CAGR) of 12.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the microneedle drug delivery systems is expected to grow to $7.84 billion in 2027 at a CAGR of 17.8%.
The increase in 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.
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The microneedle drug delivery systems market 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
Major Players:
- 3M
- Zosano Pharma
- Becton-Dickinson Technologies
- Nanopass Technologies
- Corium
Biodegradable microneedles drug delivery patches are increasingly used in local therapeutic gene delivery and treatment of chronic diseases. The use of biodegradable microneedles patches helps in easy and fast delivery of genes through targeting the skin as a site for local delivery. Gene delivery and treatment with these patches are easily accessible and contain fluid and lymph vessels that help the genetic material to act effectively. For instance, in 2020, a group from Terasaki Institute for Biomedical Innovation has recently worked on optimizing the release and performance of the biodegradable patches. Biodegradable microneedles patches offer several advantages in gene delivery such as improved efficacy, fast delivery, customized delivery, and others.
The microneedle drug delivery systems market report table of contents includes:
1. Executive Summary
2. Report Structure
3. Microneedle Drug Delivery Systems Market Characteristics
4. Microneedle Drug Delivery Systems Market Product Analysis
5. Microneedle Drug Delivery Systems Market Supply Chain
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21. Microneedle Drug Delivery Systems Market Competitive Landscape
22. Key Mergers And Acquisitions In The Microneedle Drug Delivery Systems Market
23. Market Background: Machinery Manufacturing Market
24. Recommendations
25. Appendix
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