Microneedle Drug Delivery Systems Market by Product Type (Solid Microneedles, Hollow Microneedles, Dissolving Microneedles), End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Academic Institutions, Research institutes) & Region - Forecast to 2020-2030
Microneedle Drug Delivery Systems Market - Analysis, Outlook, Growth, Trends, Forecasts
- November 2020
- 238 pages
Microneedles are used in a wide range of low molecular weight drugs, vaccines, bio therapeutics and protein drugs owing to their transdermal penetration properties.
Rising cases of chronic illnesses such as diabetes, migraine, and others have led to increasing demand for new drug administration techniques such as microneedle drug delivery systems.
According to the International Diabetes Federation (IDF), number of people suffering from diabetes has reached 463 million already and is expected to increase exponentially in the next 10 years.
Microneedles (MN) are emerging as a novel drug delivery carrier. Microneedle-based system of drug delivery offer minimally invasive and pain free administration of the task. Considering this, rising cases of diabetes are likely to bode well for the market.
Also, huge number of needle stick injuries occur every year is expected to drive the drive uptake of microneedle drug delivery systems.
According to a recent report published by Future Market Insights (FMI), the microneedle drug delivery systems market value is poised to reach US$1.2 Bn by the end of 2030 with a CAGR of 6.6% by the end of forecast period 2020-2030.
Manufacturers have a huge opportunity for market penetration as health care expenditure is increasing in the developing economies. It will help players to expand their markets and establish their presence.
Possibilities for Diverse Applications Aiding Growth
Microneedles backed by advance technological are expected to witness surge in demand. Factors such as cost effectiveness, bio availability, and quick action of these tools will also aid in the overall expansion. With healthcare sector seeking out advanced and precise methods for drug administration, demand from diverse sectors are likely to increase.
Microneedle producers will therefore witness demand in several other fields of applications such as pharmaceutical therapies, cosmetic therapies, and vaccinations. Market potential for global microneedle drug delivery systems also is growing owing to the demand from various biomedical uses such as long term treatment of disease, disease diagnosis, immune biological administration etc.
Microneedle drug delivery systems are also finding applications in delivery of macromolecules such as insulin, growth hormones, proteins, and others in a more precise and monitored way. With scope for applications surging, several producers are presented with lucrative opportunities to penetrate the market.
Painless Treatment of Chronic Ailments
Transdermal drug delivery will continue to remain one of the key applications of microneedle, it is gaining momentum in market owing to its painless, safe and easy way of administration to patients.
Treatment methods such as surgery, chemotherapy, and radiotherapy often administered to cancer or other critically ill patients can be painful with side effects. Contrary to conventional methods, microneedle patches, which is minimal invasive, offer advantageous such as easy applicability.
Also, for diseases such as diabetes, which is prevalent in more than 110 countries, patients can avoid using multiple insulin injections and use glucose-responsive microneedle patches instead which regulates glucose in blood by delivering insulin.
Easy treatment methods offered by microneedle patches compared to other prevalent ways will boost market potential in the next few years. As patients are already suffering with diseases and its ill effects, a less painful way of treatment will be rewarded and is likely to stay in demand.
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Despite having multiple benefits, microneedles have few concerns which can affect the rate of market growth. Factors such as safety of microneedles can be a cause of concern sometimes. Also, the variable skin permeability may impact the efficacy of microneedle drug delivery system.
Issues such as their invasive nature and stability might invoke concern and hence require highly skilled and trained medical practitioners for administration. Moreover, the global microneedle drug delivery systems market has limited number of products which are approved by regulatory bodies which might affect the consistency and efficacy of the product.
In addition to this, large capital investment required for development of the product is a challenge for small market players and manufacturers to enter the market.
Region wise analysis
North America Microneedle Drug Delivery Systems Market
North America is the leading market for microneedle drug delivery systems and is forecast to exhibit an estimated CAGR of 5.6% over the forecast period. Due to high number of prevalent cases of chronic diseases such as diabetes, cancer, and other the North America market is anticipated to cover more than 40% of market by the end of 2030.
Moreover, the availability of products contributes to the growth of the microneedle drug delivery systems market in the region. Dissolving microneedles is one such category of products which is evolving and emerging in the region.
The ability of the consumers to purchase these expensive products is another reason why North America holds the potential market opportunities for manufacturers.
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Europe Microneedle Drug Delivery Systems Market
Increasing preference for biodegradable microneedle materials is expected to drive market growth in Europe region during the forecast period 2020-2030. Europe too is expected to emerge as a highly lucrative market, backed by surging demand for advanced medical and treatment procedures.
The U.K., Germany, and France are anticipated to lead the regional market as specialty clinics in these countries have emerged as key end users of microneedle drug delivery systems.
Exhibiting a CAGR of 6.6% by the end of 2030, the Europe market is poised to offer impressive prospects for entry and expansion of international players and manufacturers. The market value for microneedle drug delivery systems in Europe region is expected to reach US$ 380 million by 2030, according to recent report by FMI.
Europe is predicted to remain the second-leading market for microneedle drug delivery system through the forecast period.
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East Asia Microneedle Drug Delivery Systems Market
East Asia has emerged as a highly lucrative market for microneedle drug delivery systems during forecast period 2020-2030 after North America and Europe. Rising demand from countries such as China, Japan, and South Korea are driving the market in the region. Additionally, rising investment towards expansion of healthcare infrastructure and adoption of advanced technologies will aid the expansion in the region.
The region is expected to have market value of more than US$ 150 million by end of 2030. Driven by manufacturing of low cost solid and hollow microneedles, East Asia market is poised to grow at a sustainable pace throughout the forecasted period.
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Category wise analysis
Solid Microneedles to Lead
Solid microneedles lead the market and despite a slight decline in the market share during the forecast period. They are predicted to cover over half of the market by end of 2030. Meanwhile, hollow and dissolving microneedles are forecast to grow at a faster pace with invention of newer application and uses.
Research is underway for various applications of solid microneedles to increase consistent performance, stability and reduce cost for solid microneedles. Prime research focus now lies on the development of a microneedle array. This metallic microneedle array is currently being used extensively in the field of cosmetic therapies to treat acne, stretch mark, hair loss etc. according to a recent study, metallic microneedle arrays are being considered for delivery of covid19 vaccines among others.
Hospitals Remain Key End Users
Although hospitals is forecast to remain the largest end users, specialty clinics take the cake when the growth is considered for global microneedle drug delivery systems market. Increase in clinics focusing on specific conditions is expected to boost market potential. For instance, specific clinics for cosmetic treatments like wrinkle treatment, face lift, hair loss treatment, and others are one of the leading consumers of microneedle drug delivery systems.
The global microneedle drug delivery systems market represents a consolidation of big and medium sized players. However, it is led by few key players who are focusing on their positioning in the market and value chain as part of their marketing strategy.
Early market entry and deep penetration along with exclusive marketing and distribution licensing are few techniques used by leading market players. However, owing to the mixed nature of players in market, mid- size companies along with top companies employ product innovation and differentiation as their key strategies.
Exclusive technology licensing and distribution rights acquisition remain core strategies adopted by companies irrespective of their size. Besides this, some of them are even focusing on strategic collaborations to gain competitive advantage. For instance, Zosano Pharma, U.S., partnered with EVERSANA, who is a leading provider of commercial services to the life sciences sector, for commercialization and distribution of their upcoming product in 2020, Qtrypta™. Qtrypta™ is a transdermal microneedle candidate for treatment of acute migraine. If approved it shall be one of the first microneedle patches indicated for treatment of the condition.
Few key market players in the global microneedle drug delivery systems market are
- 3M Company,
- Dickinson and Company
- Zosano Pharma Corporation
- Raphas co. ltd.
- Nanopass Tech
- Corium International, Inc.
- Valeritas, Inc.
- Nitto Denko Corporation
- Microdermics, Inc.
- TheraJect Inc.
- Vaxxas Pty Ltd.,
- Endoderma Ltd.
- SNvia Co., Ltd.
- Small Lab
- AdminMed Nano BioSciences
Microneedles drug delivery systems market report-scope
Historical Data Available for
US$ Million for value
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa (MEA)
Key Countries Covered
US, Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, BENELUX, Russia, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa
Key Segments Covered
Materials ,Applications, End user, Region
Key Companies Profiled
3M Company, Becton, Dickinson and Company, Zosano Pharma Corporation, Raphas co. ltd., Nanopass Tech, Corium International, Inc., Valeritas, Inc., Nitto Denko Corporation
Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives
Customization & Pricing
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- Solid Microneedles
- Hollow Microneedles
- Dissolving Microneedles
- Ambulatory Surgical Centers
- Specialty Clinics
- Academic Institutions
- Research institutes
- North America
- Latin America
- East Asia
- South Asia