The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s microneedle drug delivery systems market report forecasts the microneedle drug delivery systems market size to grow to to $7.84 Billion by 2027, with a CAGR (compound annual growth rate) of more than 17%.

Learn More On The Microneedle Drug Delivery Systems Market Report 2023 – https://www.thebusinessresearchcompany.com/report/microneedle-drug-delivery-systems-global-market-report

Microneedle Drug Delivery Systems Market Size Forecast
The global microneedle drug delivery systems market is expected to grow from $3.62 billion in 2022 to $4.07 billion in 2023 at a compound annual growth rate (CAGR) of 12.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The microneedle drug delivery systems market size is expected to grow to $7.84 billion in 2027 at a CAGR of 17.8%.

North America held the largest microneedle drug delivery systems market share.

Key Microneedle Drug Delivery Systems Market Driver ­– Increase In Research And Demand For The Vaccination Process
For instance, in 2020, The University of Connecticut, Vaxess, and Verndari are using microneedles to deliver viral proteins into the skin, where they induce an immune response. According to a Bloomberg report, more than 3.98 billion doses of vaccine have been administered across 180 countries until July 2021. Increased demand from government and health research and development bodies for microneedle drug delivery technology propels the market for microneedle drug delivery systems going forward.

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Key Microneedle Drug Delivery Systems Market Trend – Adopting Biodegradable Microneedles Drug Delivery Patches
Biodegradable microneedles drug delivery patches are increasingly used in local therapeutic gene delivery and treatment of chronic diseases. The use of biodegradable microneedles patches helps in easy and fast delivery of genes through targeting the skin as a site for local delivery. Gene delivery and treatment with these patches are easily accessible and contain fluid and lymph vessels that help the genetic material to act effectively. For instance, in 2020, a group from Terasaki Institute for Biomedical Innovation has recently worked on optimizing the release and performance of the biodegradable patches. Biodegradable microneedles patches offer several advantages in gene delivery such as improved efficacy, fast delivery, customized delivery, and others.

Microneedle Drug Delivery Systems Market Segment
1) By Technology: Hollow, Porous, Solid, Other Technologies
2) By Application: Drug Delivery, Vaccine Delivery, Other Applications
3) By End-User: Diagnostics Laboratories, Life Sciences, Research Laboratories, Hospitals, Ambulatory Surgical Centers, Other End-Users

Microneedle Drug Delivery Systems Market Major Players and Strategies
Major players in the microneedle drug delivery systems market are 3M, Zosano Pharma, Becton-Dickinson Technologies, Nanopass Technologies, Corium, Valeritas, Microdermics, TheraJect Inc., LTS Lohmann Therapie-Systeme AG, BioSerenTach (BT), Sorrento Therapeutics, Debiotech, Raphas Co. Ltd., QuadMedicine, SNvia, and NanoBiosciences.

In May 2020, Altaris Capital Partners, a US-based company acquired Kindeva Drug Delivery for $650 million. The deal is expected to help Altaris to develop and provide more innovative drug delivery technologies to the healthcare system by using the expertise of 3M and the Kindeva team. Kindeva Drug Delivery (Formerly known as 3M Drug Delivery Systems) is an American manufacturer of pharmaceutical and biotechnology products including inhalation, microneedle, and transdermal drug delivery technologies used for the treatment of cardio and respiratory health conditions.

The Microneedle Drug Delivery Systems Global Market Report 2023 covers regional data on microneedle drug delivery systems market size, microneedle drug delivery systems market trends and drivers, opportunities, strategies, and microneedle drug delivery systems market competitor analysis. The countries covered in the microneedle drug delivery systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A microneedle drug delivery system is a device with hundreds of microneedles on a patch that delivers a sufficient amount of drug in treatment.

View More Reports Related To The Microneedle Drug Delivery Systems Market –
Drug Delivery Devices Global Market Report 2023
Drug Discovery Global Market Report 2023
Drug Discovery Services Global Market Report 2023

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