The Europe Microneedle Drug Delivery Systems Market would witness market growth of 7.4% CAGR during the forecast period (2021-2027).
The microneedle drug delivery systems have found their application across various fields like cancer therapy, pain management, cosmetics, vaccine administration, and hormonal delivery. Moreover, various new microneedle products are emerging in the market. Before launching the new microneedles into the market, they must be researched to meet several challenges.
The vaccine or drug delivery through microneedles is considered to be the best approach in comparison to the conventional hypodermic injections. Moreover, microneedle is a self-administering platform for the delivery of transdermal medication, which has excessive drug bioavailability. Further, the design of the microneedle and drug formulation can regulate delivery rate, the efficacy of the medications, and dose. Additionally, these microneedles eliminate the biohazardous sharps waste. Therefore, it is anticipated that microneedles would have a positive impact on clinical care.
The growth of the European microneedle drug delivery systems market would be boosted by the fact that governments of different countries of this region is undertaking various initiatives like the national initiative of Germany with an aim to promote microneedle drug delivery systems awareness. The patients residing in the region are highly adopting microneedle drug delivery systems in order to deliver the vaccine, nutrients, and other required elements. Thus, the regional population prefers this method significantly due to its various benefits.
In 2020, the European Society for Clinical Nutrition and Metabolism formulated the regulations regarding the nutritional management of individuals infected with the coronavirus. According to the article circulated in 2020, the coronavirus led to a significant absence of appetite along with other symptoms that result in loss of muscle mass and a weakening immune response. To tackle this situation, clinics and hospitals have increased the accessibility of healthcare facilities for patients that need sufficient nutrition administration. These developments are anticipated to boost the demand & adoption of microneedle drug delivery systems across this region.
The Germany market dominated the Europe Vaccine delivery Market by Country in 2020, thereby, achieving a market value of $114 million by 2027. The UK market is exhibiting a CAGR of 6% during (2021 - 2027). Additionally, The France market is poised to witness a CAGR of 8.3% during (2021 - 2027).
Based on Type, the market is segmented into Hollow, Dissolving, Solid, Coated, and Other Types. Based on Material, the market is segmented into Metal, Polymer, Silicon and Other Material. Based on Application, the market is segmented into Drug delivery, Cancer Therapy, Vaccine delivery, Pain Management, Dermatology and Other Applications. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Microneedle Drug Delivery Systems Market Size will Hit $9.1 Billion by 2027, at a CAGR of 7.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AdminMed nanoBioSciences LLC, Becton, Dickinson and Company, Zosano Pharma Corporation, Raphas co. ltd., Nanopass Technologies Ltd., Corium International, Inc., Gurnet Point Capital), Valeritas, Inc. (Zealand Pharma), Nitto Denko Corporation, Endoderma Ltd., and Innoture Medical Technology Limited.
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