The Global Microneedle Drug Delivery Systems Market Report by The Business Research Company covers microneedle drug delivery systems market drivers and restraints, microneedle drug delivery systems market size, major players, and the impact of COVID-19 on the 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 a safer alternative process of drug delivery. A 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.
The global microneedles drug delivery systems market is expected to grow from $0.66 billion in 2020 to $0.75 billion in 2021 at a compound annual growth rate (CAGR) of 13%. The growth in the microneedles drug delivery systems market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The microneedles drug delivery systems market is expected to reach $1.02 billion in 2025 at a CAGR of 8.1%.
Increasing research and demand for the vaccination process are predicted to drive the microneedle drug delivery systems market growth. Researchers view microneedles as an alternative way to inject vaccines where the receiver of the vaccine is expected to not feel any sensation of pain. The microneedle patch vaccine was developed initially for flu and measles. However, the technology is now being used increasingly for delivery of the COVID-19 vaccine as well. 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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Some microneedle drug delivery systems market trends include use of biodegradable microneedle drug delivery patches 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.
Global microneedle drug delivery systems market segments include:
1) By Technology: Hollow, Porous, Solid, Others
2) By Application: Drug Delivery, Vaccine Delivery, Others
3) By End-User: Diagnostics Laboratories, Life Sciences, Research Laboratories, Hospitals, Ambulatory Surgical Centers, Others
4) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Microneedle Drug Delivery Systems Global Market Report 2021: COVID-19 Growth and Change is one of a series of new reports from The Business Research Company that provides microneedle drug delivery systems market overviews, analyzes and forecasts market size, share, microneedle drug delivery systems market players, microneedle drug delivery systems market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The microneedle drug delivery systems identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Microneedle Drug Delivery Systems Global Market Report 2021: COVID-19 Growth and Change from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: 3M, Zosano Pharma, Becton-Dickinson Technologies, Nanopass Technologies, Corium, Valeritas, Microdermics, TheraJect Inc., LTS Lohmann Therapie-Systeme AG, BioSerenTach (BT), Sorrento Therapeutics, Debiotech, Raphas Co. Ltd., QuadMedicine, SNvia, and NanoBiosciences.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Microneedle Drug Delivery Systems Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Microneedle Drug Delivery Systems Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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