[Report of 238 Pages] The Global Microneedle Drug Delivery Systems Market is expected to grow at a healthy 6.6% CAGR over the forecast period, surpassing US$ 1.2 billion by 2030, up from US$ 722.2 million in 2022.
The rising incidence of diseases such as cancer, diabetes, migraine, and others and the need to accurately administer medications are driving the market. Additionally, the demand for minimally invasive and painless treatment methods is expected to bode well for the market.
The report uncovers hidden growth opportunities. It also highlights potential threats to the market players. Some of the key takeaways from the report are highlighted below.
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Key Takeaways from the Report
- Solid microneedles are expected to lead the market during forecast period of 2020-2030 among product type
- Hospitals are the leading end users of microneedle drug delivery systems, with specialty clinics gaining popularity.
- Specialty clinics are expected to grow at an accelerated rate as one of the key end users of microneedle drug delivery systems
- North America is the largest market for microneedle drug delivery systems. Along with Europe, it is expected to cover more than 70% of the market by end of 2030.
- East Asia is expected to be the fastest growing regional market during the next decade.
“Companies operating in the market are leaving no stone unturned to introduce innovations. Some have even tied up with leading solutions provider to commercialize their innovations once approved. This is expected to pave way for the market’s growth in the near future” said a lead Analyst at FMI.
The key market players in microneedle drug delivery systems market include the
3M Company, Becton, 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., QuadMedicine, SNvia Co., Ltd., Small Lab and AdminMed Nano BioSciences LLC
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Consolidating their positions through mergers, acquisitions and new product launches, global microneedle drug delivery systems market players rely heavily on new product innovation and differentiation for gaining an edge over their competitors.
The market is poised to grow during the forecast period owing to the increasing cases of diseases and needle phobia among patients. However, changing regulatory dynamics are expected to affect the growth of microneedle drug delivery systems market in the future.
For instance, Zosano Pharma’s clinical trial of zolmitriptan with microneedle drug delivery system was stopped by U. S. Food and Drug Administration because inconsistencies were found in the drug delivery.
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Future Market Insights (FMI) brings the comprehensive research report on forecast revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The global microneedle drug delivery systems market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on microneedle drug delivery systems market on the basis of product type such as solid microneedles, hollow microneedles and dissolving microneedles. Based on end-user such as hospitals, ambulatory centers, specialty clinics, academic institutes and research institutes across seven major regions
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Key Segments Of Microneedle Drug Delivery Systems Industry Survey
Microneedle Drug Delivery Systems Market by Product:
- Solid Microneedles
- Silicon
- Metal
- Polymer
- Hollow Microneedles
- Dissolving Microneedles
Microneedle Drug Delivery Systems Market by End Use:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Academic Institutions
- Research Institutes
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Microneedle Drug Delivery Systems Market by Region:
- North America Microneedle Drug Delivery Systems Market
- Latin America Microneedle Drug Delivery Systems Market
- Europe Microneedle Drug Delivery Systems Market
- East Asia Microneedle Drug Delivery Systems Market
- South Asia & Pacific Microneedle Drug Delivery Systems Market
- Middle East & Africa (MEA) Microneedle Drug Delivery Systems Market
Have a Look at Related Research Reports of Healthcare Domain:
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- https://www.telecomagent.org/jaydipfmi/hospital_consumables_market_is_expected_to_reach_valuation_of_us_853_2_billion_fmi
- https://howtolive.tribe.so/post/hospital-consumables-market-is-expected-to-reach-valuation-of-us-853-2-bill–63bc446bff61b6a555947d85
- https://www.knowasiak.com/hospital-consumables-market-is-expected-to-reach-valuation-of-us-853-2-billion-fmi/
- https://adhipatialumni.com/blogs/65385/Hospital-Consumables-Market-is-expected-to-reach-valuation-of-US
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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