Published Date: 24-Nov-2021
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According to a new report Global Microneedle Drug Delivery Systems Market, published by KBV research, The Global Microneedle Drug Delivery Systems Market size is expected to reach $9.1 billion by 2027, rising at a market growth of 7.8% CAGR during the forecast period.
In 2020, the hollow microneedle segment dominated the microneedle drug delivery systems market. The hollow microneedles are mostly utilized to deliver hormones and vaccines including insulin for diabetic patients. The hollow microneedles have an empty space inside the needle because of which, it can accommodate more than usual quantity of drug as compared to others.
The vaccine delivery segment would showcase the fastest growth rate during the forecasting years. The rising awareness about vaccination across the population around the world insisted scientists to design innovative approaches and methods for the delivery of the vaccine. The microneedle drug delivery system is one of the innovative approaches. Moreover, scientists who are working on the vaccination to fight the coronavirus are thinking to use microneedles for vaccine administration, thereby propelling the growth of the segment.
In 2020, North America emerged as the leading region in the market. In the US, the major priority is given to patients’ health results and safety. Due to this reason, various projects have been taken into consideration to enhance healthcare quality and minimize costs. Moreover, North America is a popular region that heavily invests in the healthcare sector than any other nation. These factors are likely to unlock growth prospects for the regional market over the forecast years.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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