Global Microneedle Drug Delivery Systems Market – Industry Trends and Forecast to 2029

Global Microneedle Drug Delivery Systems Market Analysis and Size

Growing technological advancements and product innovations in drug delivery systems has led to the invention of microneedle drug delivery systems. The drug delivery systems are largely used for diabetic patients. In India, Goa has the highest prevalence rate of diabetes followed by Andaman and Nicobar Islands.                                        

• Data Bridge Market Research analyses that the microneedle drug delivery systems market is expected to undergo a CAGR of 7.60% during the forecast period. This indicates that the market value of USD 5.99 billion in 2021 would rocket up to USD 10.76 billion by 2029. “Hollow” dominates the microneedle drug delivery systems market's technology segment due to the rising diabetic population base all around the world.   The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Global Microneedle Drug Delivery Systems Market Definition

From the name itself, it is clear that microneedle drug delivery systems are the drug delivery techniques that involve the application of tiny needles to inject the medications o drugs in the body. The microneedles provide greater benefits than conventional needles. The microneedles are arranged in arrays on a tiny patch, providing a therapeutic effect to the patient.            

Report Scope and Market Segmentation

Microneedle Drug Delivery Systems Market Dynamics

Drivers

• Rising prevalence of obesity

Growing population base of overweight and obese individuals globally is one of the major factor fostering the growth of the market. India, Germany, China, United States and United Kingdom have the highest obese population base in the world. Obesity gives rise to numerous problems in the body. Respiratory problems, diabetes and other chronic and acute diseases are some of the examples.       

• Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted to provide best of the medications to curb obesity is also bolstering the market growth rate.

• Growing investment for healthcare facilities

Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.  

Opportunities

Furthermore, upsurge in the public-private funding for target research activities, rising awareness about the negative impact of obesity on the body, growing prevalence of acute and chronic diseases, rising geriatric population base and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, availability of safer alternatives to the conventional hypodermic injection, rising demand for minimally invasive drug delivery systems, rising internet penetration rate, growing number of cardiovascular diseases and increasing per capita expenditure on health care will further expand the market's growth rate in the future. 

Restraints/Challenges Global Microneedle Drug Delivery Systems Market

On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities, uneven distribution of medical services, rising interest in alternate routes of drug administration transdermal and intradermal drug delivery systems and dearth of awareness in the backward economies are expected to obstruct market growth. Also, lack of favorable reimbursement scenario and technology penetration in the developing economies, poor absorption and changeability in absorption, limited insurance coverage and regulatory compliance, and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.

This microneedle drug delivery systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the microneedle drug delivery systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Microneedle Drug Delivery Systems Market

COVID-19 had a negative impact on the market. The supply chain disruptions created challenges for the transportation and distribution of drug delivery systems and equipment. Also, restrictions imposed on the movement further created hindrances. Subsequent fall in the demand and supply of non- important medical devices and equipment further created hindrances for the market. However, owing to the rising number of patients on daily basis and large number of treatment procedures on hold, there is a huge scope of growth post the pandemic.  

Recent Developments

• In May 2021, BD announced that it will construct a new drug delivery manufacturing facility in Spain which will help to produce the drug delivery devices for the European market to deliver the biological drugs.

Global Microneedle Drug Delivery Systems Market Scope

The microneedle drug delivery systems market is segmented on the basis of technology, source type, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

• Hollow
• Porous
• Solid
• Others

On the basis of technology, the microneedle drug delivery systems market is segmented into hollow, porous, solid and others. 

Source type

• Silicon
• Metals
• Polymers
• Polysaccharides
• Others

On the basis of source type, the microneedle drug delivery systems market is segmented into silicon, metals, polymers, polysaccharides and others.

Application

• Cardiovascular
• Oncology
• Dermatology
• Neurology
• Others

On the basis of application, the microneedle drug delivery systems market is segmented into cardiovascular, oncology, dermatology, neurology and others.

End users

• Diagnostic Laboratories
• Life Sciences and Research Laboratories
• Hospitals
• Ambulatory Surgical Centers
• Others

Microneedle drug delivery systems market has also been segmented based on the end users into diagnostic laboratories, life sciences and research laboratories, hospitals, ambulatory surgical centers and others.

Microneedle Drug Delivery Systems Market Regional Analysis/Insights

The microneedle drug delivery systems market is analysed and market size insights and trends are provided by country, technology, source type, application and end users as referenced above.

The countries covered in the microneedle drug delivery systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the microneedle drug delivery systems market because of the strong base of healthcare facilities, widespread utilization of medications, surging occurrences of chronic diseases such as obesity, high cholesterol, diabetes and heart attacks and rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, increasing health conscious people within the region, rise in cases of cardiovascular diseases and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The microneedle drug delivery systems market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for microneedle drug delivery systems market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the microneedle drug delivery systems market. The data is available for historic period 2010-2020.

Competitive Landscape and Microneedle Drug Delivery Systems Market Share Analysis

The microneedle drug delivery systems market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to microneedle drug delivery systems market.

Some of the major players operating in the microneedle drug delivery systems market are:

• Abbott (US)
• Siemens Healthineers AG (Germany)
• Quidel Corporation (US)
• F. Hoffman-La Roche Ltd. (Switzerland)
• Danaher. (US)
• BD (US)
• Chembio Diagnostics (US)
• EKF Diagnostics (UK)
• Trinity Biotech plc (Ireland)
• Instrumentation Laboratory (US)
• Nova Biomedical (US)
• PTS Diagnostics (US)
• Sekisui Diagnostics (US)
• Thermo Fisher Scientific (US)
• bioMérieux S.A. (France)
• DiaSorin S.p.A (Italy)
• AccuBioTech Co., Ltd. (China)
• Meridian Bioscience (US)
• Biocartis Bioscience (Europe)
• GeneSTAT Molecular Diagnostics, LLC (US)
• Terumo Corporation (Japan)
• Grifols, S.A (Spain)  

Research Methodology : Global Microneedle Drug Delivery Systems Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-microneedle-drug-delivery-systems-market

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