The global Microneedle Drug Delivery Systems Market size is expected to reach USD 8.10 billion by 2028, according to a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 5.3% from 2021 to 2028. The growing demand for safer alternatives to the conventional hypodermic injection and increasing awareness regarding minimally invasive and pain-free administration of drugs are expected to boost the market growth. Furthermore, the increasing cases of diabetes are expected to boost the market growth. For instance, according to the International Diabetes Federation (IDF), the number of diabetics has already reached 463 million and is predicted to rise in the next 10 years.
Drug delivery via microneedles is one of the most
efficient procedures compared to traditional hypodermic injections.
Microneedles are a self-administering platform for transdermal medication
delivery that has a high drug bioavailability. The microneedle design and drug formulation
can control the dose, delivery rate, and efficacy of the medications.
Microneedle also helps reduce or eliminate biohazardous sharps waste. In the
coming years, microneedles are expected to have a greater impact on clinical
care.
Microneedles are still under development and use a
variety of drugs in clinical trials. The majority of studies have shown that
this technique produces positive effects. This approach has the potential to be
used for therapeutic purposes in a variety of fields. For instance, Carnegie
Mellon University is developing a COVID-19 vaccination injection method
employing 3D printed hybrid microneedle arrays (Hybrid-MNA). The Hybrid-MNA
approach not only allows for lower doses but is also painless and has the
potential to be self-administered. These technologies are predicted to enable
the production of microneedles at a cheaper cost. Microneedles have a wide
range of applications, including vaccine administration, hormonal delivery,
cancer therapy, pain management, and cosmetics.
Related Press Release@ Microneedle Drug Delivery Systems Market Report
Microneedle Drug Delivery Systems
Market Report Highlights
- The hollow type segment accounted for the largest revenue share in
2020 as they are considered ideal for the use of vaccine and hormonal
therapy patients
- The dissolving type segment is expected to grow at the fastest rate
during the forecast period as it only requires one step and the
microneedle needs not to be removed after insertion
- The metal material segment accounted for the largest revenue share
in 2020. Stainless steel and titanium are the most frequently employed
metals
- By application, the drug delivery segment dominated the market in
2020. The vaccine delivery segment is expected to register the fastest
growth rate during the forecast period due to the increased awareness
regarding vaccination among the population
- Asia Pacific is anticipated to expand at the fastest CAGR over the
forecast period due to the presence of untapped opportunities in the
emerging economies, such as China and India
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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