DUBLIN, October 13, 2021--(BUSINESS WIRE)--The "Microneedle Drug Delivery System Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global microneedle drug delivery systems market is expected to grow at a CAGR of 7.4% over the forecast period to reach US$183.372 million in 2026, from US$111.219 million in 2019.
The growth in the microneedle drug delivery system may be attributed to the growing preference for non-invasive drug delivery mechanisms. Simultaneously, the improved bioavailability with the maintenance of relatively constant plasma concentrations will also boost the market for the Microneedles drug delivery system during the forecast period.
However, new developments in biotechnology for drug delivery such as microfabricated needles will also be responsible for the growth of the market during the given time frame.
Microneedles for Transdermal Delivery
A transdermal delivery system can allow sustained release of the drug by bypassing the first-pass effect. There has been a rise in the advancement and innovation in formulation technologies, which are expected to enhance the drug loading capabilities and abilities of microneedles. Digital technology and 3D printing contribute to the enhancement of microneedle fabrication technology.
To date, several studies and research on the aspects of microneedles, for the Vivo transdermal drug delivery system have been conducted. For instance, Griffin et al. had conducted a trial and study evaluating excipient coated and uncoated microneedles in eighteen health volunteers, between the year 18 to 45 years. The results stated that the microneedles didn't induce any major or unexpected side effects, and only resulted in the minimum level of pain.
Other institutions and organizations have also been making a significant impact in the market. For instance, Tan et al. conducted and studies the treatment of keloids using in around 28 volunteers in phase one trial. The trial was conducted using hyaluronic acid-based microneedle and the results stated that the treatment with a microneedle system could serve and be used as an alternative when conventional treatments, are not suitable for the volunteers or the patient.
Increasing Prevalence of Diabetes
The market is expected to surge in the coming years, due to the increasing prevalence of diabetes, globally. According to the International Diabetes Federation, around 463 million adults had been living with diabetes in the year 2019, and the number has been expected to rise to 700 million, by the year 2045. Diabetes had caused around 4.2 million deaths in 2019.
Microneedles have been proving to be an effective way to provide and deliver insulin based on the level of glucose in a patient's body. In March 2020, a research team, which was led by a UCLA bioengineering professor, had created a novel and coin sizes adhesive polymer patch with the use of microneedles. This development is expected to have a positive impact on the market in the coming years.
Major companies and organizations have been making significant developments in the market, in the past few years.
In June 2021, TSRL and PharmaTher announced that they had teamed up to develop microneedles patches. The novel partnership and collaboration would be used to collect and pool resources and intelligence to develop intradermal delivery devices for their use in therapeutic areas of field and focus. Both the companies had been involved in the development of the microneedle delivery system. PharmaTher had licensed microneedle technology from the University of California in the year 2020, and TSRL had been working on microneedle prototype patches, with support from the reputed National Institute of Allergy and Infectious Diseases.
In June 2021, The Austrian Institute of Technology announced the partnership with In-Vision and DirectSens, to launch the NUMBAT research project, to leverage high-resolution DLP 3D printing to develop an array and group of polymeric microneedles for less painful, and minimally invasive glucose monitoring. Glucose monitoring is highly essential for people with diabetes. This development is expected to have a positive impact on the market, in the coming years.
In June 2021, Aesthetics Biomedical, a major developer of aesthetics devices, announced that it had received FDA clearance for its Vivace RF Micro-needling device, which would be used in both 1MHz and 2MHz frequency. The novel micro-needling technology had been designed and developed to provide patients with brighter radiant skin.
Key Topics Covered
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Microneedle Drug Delivery Systems Market Analysis, by Microneedle Type
5.2. Hollow microneedle
5.3. Solid microneedle
5.4. Dissolving microneedle
5.5. Coated microneedle
5.6. Hydrogel-forming microneedle
6. Microneedle Drug Delivery Systems Market Analysis, by Applications
6.2. Neurologic Conditions
7. Microneedle Drug Delivery Systems Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.6. Asia Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. LTS Lohmann Therapie-Systeme AG
9.2. Nissha Co. Ltd.
9.3. ASTI Corporation
9.4. AdminMed nanoBioSciences LLC
9.5. Micron Biomedical Inc.
9.6. Raphas Co. Ltd.
9.7. Micropoint Technologies
9.9. MiNDERA Corporation
9.10. MyLife Technologies
(List not exhaustive)
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