Microneedle Drug Delivery Systems Industry Overview
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.
Microneedle Drug Delivery Systems Market Segmentation
Grand View Research has segmented the global microneedle drug delivery systems market based on type, material, application, and region:
Based on the Type Insights, the market is segmented into Solid, Hollow, Dissolving, Coated, Others.
- The hollow microneedle segment accounted for the largest revenue share of more than 26.0% in 2020. Hollow microneedles are commonly used to deliver vaccines and hormones, which include insulin for diabetic patients. These microneedles are capable of administering a larger dose of the drug as more amount of drugs can be accommodated into the empty space inside the needle, making it ideal for the use of vaccine and hormonal therapy patients.
- The dissolving microneedle segment is expected to grow at the fastest rate during the forecast period. As the dissolving microneedle is a less painful method of delivering active ingredients than the syringe, it only requires one step as the microneedle needs not to be removed after insertion. For patients who would otherwise require frequent injections, this could potentially improve their quality of life.
Based on the Material Insights, the market is segmented into Silicon, Metal, Polymer, Others.
- The metal material segment accounted for the largest revenue share of more than 27.0% in 2020. Stainless steel and titanium are the most frequently employed metals. Other metals used are palladium, nickel, and palladium-cobalt alloys. They have good mechanical and biocompatibility qualities. Metals are better suitable for microneedle manufacturing than silicon as they are strong enough to avoid breaking. Stainless steel was the first metal used in the manufacturing of microneedles.
- The silicone material segment is estimated to witness considerable growth from 2021 to 2028. The segment growth can be attributed to its flexibility, which allows it to produce needles of various sizes and shapes. It is a versatile material due to its attractive physical features.
Based on the Application Insights, the market is segmented into Dermatology, Drug Delivery, Pain Management, Cancer Therapy, Vaccine Delivery, Others.
- The drug delivery segment held the largest revenue share of more than 35.0% in 2020. Insulin is a hormone that is made up of peptides. The drug is recommended for patients with high blood sugar levels. Various scientists such as Martanto et al. and Henry et al. conducted numerous experiments on insulin administration and discovered that the insulin administered via microneedle drug delivery was appropriate, produced proper biological effects, and maintained blood glucose levels. In addition, the growing occurrence of diabetes worldwide is expected to drive the segment.
- The vaccine delivery segment is expected to expand at the fastest CAGR of 6.3% from 2021 to 2028. The increased awareness regarding vaccination among the population has led scientists to develop new approaches to vaccine administration. The Microneedle drug delivery system is an example of such an approach. Furthermore, researchers working on a possible vaccination for the novel coronavirus are considering utilizing microneedles to deliver the vaccine, which is expected to propel the overall market growth.
Microneedle Drug Delivery Systems Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Companies Profile & Market Share Insights
The market is highly competitive with a large number of manufacturers accounting for a major share in the market. Product launches, approvals, strategic acquisitions, and innovations are a few of the important business strategies used by market participants to maintain and grow their global reach.
Some of the prominent players operating in the global microneedle drug delivery systems market include,
- Raphas
- Novartis International AG
- Becton Dickinson and Company
- Braun
- Nanopass Technologies Limited
- Termo
- Smiths Medical
- Cardinal Health
- 3M
Order a free sample PDF of the Microneedle Drug Delivery Systems Market Intelligence Study, published by Grand View Research.
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