Microneedle Drug Delivery Systems Market size was valued at USD 750.4 Million in 2023 and is poised to cross USD 1.85 Billion by the end of 2036, expanding at more than 7.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of microneedle drug delivery systems is estimated at USD 804.43 Million. The market is estimated to grow on the back of the increasing prevalence of chronic conditions such as diabetes, cancer, heart disease, and stroke. Over the past ten years, there has also been an increase in other lifestyle-related illnesses such as Alzheimer's disease, chronic kidney disease, and chronic lung disease. According to the Centers for Disease Control and Prevention, four out of ten people in the US have two or more chronic diseases, and six out of ten adults in the country have at least one. Furthermore, according to statistics, in 2021, around 530 million adults aged 20-79 have been diagnosed with diabetes globally, a figure projected to rise to 640 million by 2030 and 780 million by the end of 2040.
Additionally, the non-invasive method of microneedle patch immunization has been thoroughly researched. The World Health Organization has ranked vaccine reluctance as one of the top ten hazards to global health. According to a recent study conducted in October 2020, 53.1% of the people under that study chose not to get vaccinated or were unsure if they should get vaccinated. Fear of needles, pain and side effects are the usual causes of vaccine reluctance. The market is anticipated to expand owing to the rising demand for microneedle patches that don't require needles or the effect of pain associated with it.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
7.2% |
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Base Year Market Size (2023) |
USD 750.4 Million |
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Forecast Year Market Size (2035) |
USD 1.85 Billion |
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Regional Scope |
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Material (Silicon, Metal, Polymer)
The global microneedle drug delivery systems market is segmented and analyzed for demand and supply by material into silicon, metal, and polymer. Out of these segments, the metal segment is anticipated to garner the largest market share over the forecast period, owing to the rising number of cosmetic procedures performed with the adoption of metal microneedles array in cosmetic treatments to treat acne, stretch marks, hair loss, and more. According to statistics, about 15 million cosmetic procedures were performed in 2020, of which 12 million cosmetic procedures are performed on women.
Type (Solid, Hollow, Dissolving, Coated)
The global microneedle drug delivery system market is segmented and analyzed based on demand and supply by type into solid, hollow, dissolving, and coated. The most important factor that is driving the growth of the microneedle drug delivery system market is the high adoption of various emerging safety issues that include short and long-term impacts for patients, clinicians, healthcare administrators, and regulators. Other important factors include growing research and development initiatives and rising demand for a safer alternative to traditional hypodermic injections.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Material |
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By Application |
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By End-User |
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North American Market Forecast
The market in the North American region is anticipated to develop faster owing to the rise in the adoption of highly advanced processes and systems for the manufacture of microneedles and the technical improvements made in microneedle drug delivery. The significant market growth in the area is mostly attributed to the increased knowledge among the populace about the existence of revolutionary microneedle medication delivery systems on the market. The market for microneedle drug delivery system in this region is also anticipated to increase owing to the rising prevalence of chronic diseases among Americans. In the United States, 37.3 million people were determined to have diabetes in 2020, while 96 million adults were found to have pre-diabetes, according to the National Diabetes Statistics Report. About 36 million persons in the United States are anticipated to have chronic renal illnesses in 2020, according to the National Kidney Foundation. According to research from the Centers for Conditions Control and Prevention in 2020, around 15.7 million Americans suffer from a chronic lower respiratory disease. Further, it is anticipated that the prevalence of chronic diseases among Americans will accelerate the growth of the North American microneedle drug delivery systems market. As a result, it is anticipated that growing investments in the healthcare sector and rising awareness of the significance of microneedle drug delivery systems will fuel the market's expansion in this area.
APAC Market Statistics
Furthermore, the Asia Pacific region is anticipated to expand quickly owing to factors such as population growth, changing lifestyles, increased patient awareness, and rising per capita spending. Additionally, developing nations such as China and India can strengthen their healthcare systems thanks to economic development and advances in cosmetic items' efficacy.
ICU Medical Inc. announced that the company has successfully acquired Smiths Medical from Smiths Group plc.
Becton, Dickinson, and Company announced that the company will build a new drug delivery manufacturing facility in Zaragoza, Spain to manufacture drug delivery devices for the European Market.
Author Credits: Radhika Pawar
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