The microneedle drug delivery system is built with hundreds of tiny needles arranged in a small patch to distribute a sufficient amount of the drug to have the desired therapeutic effect. By avoiding the blood vessels and nerve fibers found in the dermal layers, this device aids in directly administering the medication into the viable epidermis. Some of the materials used in producing microneedles include silicon, carbohydrate, silica glass, polymers, and ceramic.
The market worth of microneedle drug delivery systems in 2021 was USD 5.71 billion, and it will be worth USD 10.14 billion by 2030, growing at a 6.5% CAGR during the forecast period.
The market for microneedle medication delivery systems is expanding faster due to factors like rising R&D efforts and rising demand for a safer alternative to conventional hypodermic injections. The excessive adoption of microneedle drug delivery devices is also a result of new safety concerns, which have immediate and long-term repercussions for patients, policymakers, administrators of healthcare systems, and physicians.
Oral food consumption among patients may be impacted by several illnesses, including head and neck cancer, esophageal cancer, Crohn’s, ulcerative colitis, gastric cancer, and laryngeal cancer. The market for microneedle medication delivery systems will grow due to their rising prevalence. In addition, the growing geriatric population, which is more susceptible to chronic diseases, along with the rising number of people suffering from various pediatric diseases like anemia, bronchitis, chickenpox, leukemia, asthma, and tuberculosis, will increase demand for microneedle drug delivery systems.
- The microneedle drug delivery system’s expensive research and development expenditures put the development of newer, better technologies in jeopardy, and, as a result, it restrains the market’s overall growth.
- The lack of adequate infrastructure in businesses around the world can impede the advancement of new technologies, which could harm future market expansion.
The partnership of the public and commercial sectors for targeted research in emerging nations, as well as the existence of significantly upgraded technologies, can generate a tremendous opportunity to boost the total market growth in the future.
The future market potential will be improved by the rising research and development expenses for medical instruments and devices, particularly in developed and developing nations. Additionally, R&D to decrease obesity will potentially open up more substantial business opportunities.
By type, the market is segmented into coated, hollow, solid, dissolving, and others.
In 2020, the hollow segment led the entire market with more than 26.0% revenue share. Insulin for diabetic individuals is frequently administered using hollow microneedles that are regularly used to administer hormones and vaccinations. These microneedles are perfect for usage with patients receiving hormone therapy and vaccines because they can provide a higher dose of the medication because more medication can fit inside the space inside the needle.
On The Basis Of Material
the market is segmented into metal, silicon, polymer, and others.
In 2020, the metal materials segment had the highest revenue share of more than 27.0%. The most widely used metals are titanium and stainless steel. Palladium, nickel, and alloys of palladium and cobalt are further metals used. Both their mechanical and biocompatibility properties are strong. Metals are ideal for making microneedles than silicon because they are sturdy enough not to break.
By application, the market is segmented into pain management, dermatology, cancer therapy, drug delivery, vaccine therapy, and others.
In 2020, the medicine delivery segment had the highest revenue share of over 35.0%. For patients with high blood sugar levels, medication is advised. Numerous investigations on the administration of insulin were carried out by various scientists, including Martanto et al. and Henry et al. They found that the insulin delivered via microneedle drug delivery was appropriate, had the right biological effects, and maintained blood glucose levels. In addition, the segment is anticipated to be driven by the rising prevalence of diabetes worldwide.
North America ruled the market with a revenue share of more than 40% in 2020. Patient outcomes and safety are of the highest significance in the United States, and numerous projects have been established to raise healthcare quality and lower costs. North America spends substantially more on healthcare than any other nation, which is another element boosting the industry.
- Zosano Pharma Corporation
- Raphas Co. Ltd.
- AdminMed nanoBioSciences LLC
- Becton, Dickinson, and Company
- Nanopass Technologies Ltd.
- Nitto Denko Corporation
- Endodermal Ltd.Corium International, Inc. (Gurnet Point Capital)
- Valeritas, Inc. (Zealand Pharma)
- Innoture Medical Technology Limited
The market worth of microneedle drug delivery systems in 2021 was USD 5.71 billion, and it will be worth USD 10.14 billion by 2030, growing at a 6.5% CAGR during the forecast period. Due to safer substitutes for the traditional hypodermic injection, which is minimally invasive and allows for painless administration, there is an increasing need for microneedle drug delivery systems. The strong demand for the COVID-19 vaccination in the current global environment will provide growth prospects for microneedles.