Microneedle Drug Delivery Systems Market By Type, Distribution Channel, End-user and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits - Forecast 2024-2032

Industry : Healthcare | Pages : 168 Pages | Upcoming : Jun 2024

         
     

Global microneedle drug delivery systems market size was valued at USD 5.38 billion in 2022 and anticipated to grow at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030. This growth is attributed to the increasing demand for microneedle drug delivery systems, driven by the availability of safer alternatives to traditional hypodermic injections. These systems are minimally invasive and offer pain-free administration. Additionally, the rising prevalence of diabetes is contributing to the growing need for such technologies. According to the Centers for Disease Control and Prevention (CDC), approximately 34.2 million people in the United States, which accounts for 10.5% of the population, have diabetes. Furthermore, the adoption of smart devices and advancements in technology, including the integration of AI and data analytics, are further fueling market expansion.

Microneedle drug delivery systems offer numerous advantages over conventional hypodermal injections, including faster onset of action, enhanced permeability and efficacy, improved patient compliance, and the option for self-administration. Beyond enhancing therapeutic outcomes, microneedles consistently yield precise results with minimal variability in bioavailability among individuals.

The market for these systems is growing in popularity due to their capacity to enhance patient adherence to medication regimens. By delivering drugs in a painless and non-invasive manner, microneedles alleviate patient anxiety and boost adherence to treatment plans. Consequently, this contributes to improved patient outcomes and reduced healthcare costs associated with medication non-compliance.

Furthermore, microneedle drug delivery systems have the potential to enhance drug effectiveness by improving drug absorption and targeting specific body areas. This can reduce the quantity of drugs required to achieve therapeutic effects, potentially lowering healthcare expenses and minimizing side effects. Government initiatives are also playing a role in market growth, with the FDA approving various microneedle devices for use in clinical trials.

The COVID-19 pandemic has heightened interest in microneedles for vaccine delivery. Microneedles enable vaccine administration without the need for healthcare professionals, reducing the risk of COVID-19 exposure in healthcare settings. This development has generated significant attention and funding for microneedle-based vaccine delivery, which holds promise beyond the pandemic, particularly in underserved rural areas.

However, the pandemic has led to delays in clinical trials of microneedle drug delivery systems. Safety concerns and challenges in recruiting participants during the pandemic have resulted in the postponement or slowdown of many clinical trials.

Type Insights

The hollow microneedle category dominated the market in 2022, representing the largest revenue share, exceeding 26%. Hollow microneedles are commonly utilized for delivering vaccines and hormones, including insulin for diabetic patients. These microneedles can accommodate larger drug doses within their hollow structure, making them particularly suitable for vaccine and hormonal therapy applications.

Additionally, they offer painless drug or vaccine delivery by not triggering the nerve endings responsible for pain. According to the International Diabetes Federation (IDF), the global prevalence of type 2 diabetes in 2021 reached 8.5% among adults aged 20-79, affecting an estimated 537 million individuals worldwide.

The dissolving microneedle segment is projected to experience the most rapid growth throughout the forecast period. Dissolving microneedles provide a less painful alternative for delivering active substances compared to traditional syringes. They simplify the process as the microneedle does not need to be removed after insertion. This innovation holds significant potential for enhancing the quality of life for patients who require frequent injections.

Furthermore, there is increasing interest in dissolving microneedles made from biodegradable materials. These microneedles allow for drug administration without leaving behind sharp, bio-contaminated, and non-degradable waste, as they dissolve into the skin after insertion. These factors are anticipated to positively influence market expansion.

Material Insights

The category of metal materials secured the largest share of revenue in 2022, surpassing 28%. Stainless steel and titanium are the most commonly utilized metals, along with others like palladium, nickel, and palladium-cobalt alloys. These metals exhibit strong mechanical properties and biocompatibility, making them well-suited for microneedle production. Metals are preferred over silicon because of their durability, which prevents breakage. Stainless steel was the initial metal choice for microneedle manufacturing. Consequently, these factors are expected to contribute to the growth of this segment.

The silicone material segment is predicted to record the highest compound annual growth rate (CAGR) during the forecast period. Silicone's flexibility allows for the production of needles in various sizes and shapes, making it a versatile material with attractive physical characteristics. Additionally, the Food and Drug Administration (FDA) has granted clearance for silicon devices, including silicon microneedles produced by NanoPass Technologies Ltd., which is anticipated to stimulate market expansion.

Application Insights

In 2022, the drug delivery segment claimed the largest market share, accounting for 34.9% of total revenue. One of the significant drivers behind this growth is the increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular conditions. With the global burden of these diseases on the rise, there's a growing demand for more precise and effective drug delivery methods.

Furthermore, advancements in drug development have played a pivotal role in bolstering the drug delivery segment. Many of the newly developed drugs are intricate, designed for specific targets, and have limited bioavailability. Consequently, innovative drug delivery techniques have emerged to ensure optimal efficacy while minimizing potential side effects.

The cancer therapy segment is poised to experience the fastest compound annual growth rate (CAGR) at 8.3% throughout the forecast period. Globally, the incidence of cancer is on the rise, prompting increased government investments in cancer research and treatment. Cancer remains a prominent cause of mortality worldwide, accounting for approximately 10 million deaths in 2020, equating to nearly one in six deaths. Moreover, advancements in cancer research have led to the introduction of novel and cutting-edge cancer therapies, including targeted treatments, immunotherapies, and gene therapies. These innovative therapies offer superior outcomes with reduced side effects compared to traditional chemotherapy, driving higher demand for cancer treatments.

Regional Insights

In 2022, North America asserted its dominance in the market, capturing the largest share of revenue at 43%. The region's robust and well-established pharmaceutical industry plays a pivotal role in driving the microneedle drug delivery market. Many leading pharmaceutical firms in North America are actively investing in the development of microneedle-based drug delivery systems, significantly contributing to market growth.

Moreover, North America benefits from a favorable regulatory environment that supports the development and commercialization of microneedle-based drug delivery systems. Both the U.S. FDA and Health Canada have shown strong support for microneedle technology, resulting in increased investments and innovations within the market.

Meanwhile, in the Asia Pacific region, the market for microneedle drug delivery systems is poised to experience the swiftest compound annual growth rate (CAGR) of 8.2% during the forecast period. This uptick is attributed to a substantial rise in healthcare expenditure, leading to increased investments in research and development activities related to microneedle drug delivery. This, in turn, has fostered the creation of novel and advanced products and technologies, driving market expansion.

Furthermore, government backing is also a significant driver of demand in the region. For example, India introduced the Digital Health Mission in 2021 with the goal of establishing a unified digital health infrastructure for the country. This initiative aims to facilitate the development of electronic health records, telemedicine services, and e-pharmacies, among other advancements, further boosting the market.

Key Companies & Market Share Insights

The global market is highly competitive, with large number of manufacturers accounting for a majority of market share. Product launches, approvals, strategic acquisitions, and innovations are just a few of the important business strategies used by the market participants to maintain and grow their global reach. For instance, in June 2021, NanoPass Technologies announced that its MicronJet, a microneedle-based technology for intradermal drug delivery, has received FDA clearance and CE marking. The device designed for the intradermal injections of any substance or medication, which has approved for this method of administration. Some of the major players in global microneedle drug delivery systems market include:

  • Raphas
  • Novartis International AG
  • Becton Dickinson and Company
  • B. Braun
  • Nanopass technologies limited
  • Termo
  • Smiths Medical
  • Cardinal Health
  • 3M

 

Microneedle Drug Delivery Systems Market Report Scope

Analysis

Details

Market size value in 2023

USD 5.73 billion

Revenue forecast in 2030

USD 9.46 billion

Growth rate

CAGR of 7.4% from 2023 to 2030

Base year for estimation

2022

Forecast period

2023 - 2030

Quantitative units

Revenue in USD million, and CAGR from 2023 to 2030

Segments covered

Type, material, application, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Global Microneedle Drug Delivery Systems Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, MarketDigits has segmented the global microneedle drug delivery systems market report based on the type, material, application, and region:

By Type

  • Solid
  • Hollow
  • Dissolving
  • Coated
  • Others

By Material Outlook

  • Silicon
  • Metal
  • Polymer
  • Others

By Application Outlook

  • Dermatology
  • Drug Delivery
  • Pain Management
  • Cancer Therapy
  • Vaccine Delivery
  • Others

By Regional

North America

    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Sweden
    • Norway
    • Denmark
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Thailand
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE
    • Kuwait

TOC

Table and Figures

Methodology:

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Market Growth Drivers

Leading Market Players

Company Market Share

Market Size and Growth Rate

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