Microneedle Drug Delivery Systems Market 2021: Business overview, Upcoming Trends and Top Company Analysis Forecast – 2030 | 3M Company, Becton, Dickinson and Company, Zosano Pharma Corporation & so on…
Players in the microneedle drug delivery system market are leveraging growing demand for minimally invasive, pain-free therapeutic options for infectious and lifestyle-based ailments. Potential for Vaccination Applications for Infectious Diseases to Boost Microneedle Drug Delivery Systems Market through 2030: Future Market Insights
The microneedle drug delivery system market is estimated to hit a US$ 1.2 Bn valuation between the years of assessment from 2020 to 2030. The market study published by FMI has revealed that the covid-19 pandemic is likely to prove advantageous to the microneedle drug delivery system market, owing to lucrative potential in vaccine administration in the near future. Also, continuing investments towards therapeutics for other ailments during the pandemic period will also sustain market growth.
“Concerns over health issues from conventional hypodermic injections, and the demand for safer alternatives is a key driver for demand in the microneedle drug delivery systems market. These products are likely to gain importance for drugs aimed at preventable diseases in the near future,” states the FMI analyst.
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Microneedle Drug Delivery System Market- Critical Takeaways
- Cardiovascular treatment applications hold major market share on the back of growing stroke and cardiac disease cases worldwide.
- Hospitals remain a prominent end use sector, supported by high capital, larger inventories and faster access to new microneedle technologies.
- North America is a major market for microneedle drug delivery systems owing to infrastructure for early diagnosis and higher per capita spending on health care.
Microneedle Drug Delivery System Market- Drivers
- Innovations in microfabrication processes, and a wide scope of application in medicine and biotechnology are bolstering market growth.
- The introduction of dissolvable microneedle drug delivery systems is creating lucrative opportunities for manufacturers.
Microneedle Drug Delivery System Market- Restraints
- Delivery of macromolecules with high hydrophilicity and molecular weight through microneedles is a challenge for delivery across the surface of the skin.
- Potential for microbial contamination and lack of adequate control over drug delivery are concerns for market players.
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Coronavirus Impact on Microneedle Drug Delivery System Market
The impact of the coronavirus pandemic is likely to be marginal with concerns arising largely from restrictions on the manufacturing sector, and logistics infrastructure during lockdown. Also, postponed elective medical procedures are likely to affect short term prospects of the industry.
On the other hand, pharma applications of microneedle systems have been deemed essential goods by many governments, which allow production to continue largely unimpeded during the covid-19 crisis. Also, the potential for application in vaccine administration will prove highly profitable for market players in the near future, which will bolster long term market prospects as well.
AdminMed Nano BioSciences, 3M Company, Small Lab, Becton, Dickinson and Company, SNvia Co. Ltd., Zosano Pharma Corporation, QuadMedicine, Raphas Co. Ltd., Endoderma Ltd., Nanopass Tech, Vaxxas Pvt. Ltd., and Corium International Inc among others are the top players in the microneedle drug delivery systems market.
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Major players in the microneedle drug delivery system market are largely involved in product development initiatives in addition to strategic expansion through mergers and expansion.
For instance, Debiotech in collaboration with multiple vaccine companies has announced the use of its DebioJect Microneedle drug delivery system for covid-19 vaccines. Zosano Pharma has unveiled its Qtrypta zolmitriptan intracutaneous microneedle system, for migraine treatments, which is being reviewed for approval by the FDA. 3M Drug Delivery Systems has been acquired by Altaris Capital Partners and renamed as Kindeva Drug Delivery. The new entity will specialize in drug delivery for pharma and biotech applications including microneedle systems.
Table Of Content
1. Executive Summary
2. Market Overview
3. Key Market Trends
4. Key Success Factors
5. COVID19 Crisis Analysis
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6. Global Microneedle Drug Delivery Systems Market Sales Analysis 2015-2019 and Forecast, 2020-2030
7. Global Microneedle Drug Delivery Systems Market – Pricing Analysis
8. Global Microneedle Drug Delivery Systems Market Demand (in Value or Size in US$ Mn) Analysis 2015-2019 and Forecast, 2020–2030
9. Market Background
10. Global Microneedle Drug Delivery Systems Market Analysis 2015-2019 and Forecast 2020-2030, By Product Type
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