Microneedle Drug Delivery Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company's Microneedle Drug Delivery Systems Global Market Report 2024 – Market Size, Trends, And Global Forecast 2023-2032

LANDON, GREATER LANDON, UK, January 4, 2024 /EINPresswire.com/ -- The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.

The microneedle drug delivery systems market has experienced rapid growth, projecting an increase from $4.32 billion in 2023 to $5.13 billion in 2024, showcasing a Compound Annual Growth Rate (CAGR) of 18.7%. This momentum is anticipated to persist, propelling the microneedle drug delivery systems markto reach $9.82 billion in 2028, with a robust CAGR of 17.6%. Key drivers of this growth include heightened demand for microneedle technology in vaccine research and a surge in obesity prevalence.

Driving Forces Behind Market Expansion

Vaccine Research Stimulates Demand:

The microneedle drug delivery systems market is witnessing substantial growth due to increased research and demand for vaccines. Microneedles are considered an innovative approach to painless vaccine administration, enhancing patient experience. This technology has gained prominence, especially in the context of COVID-19 vaccines, with over 3.98 billion doses administered across 180 countries until July 2021. The push for microneedles in vaccine delivery is propelled by the desire to minimize pain sensation, contributing to the market's expansion.

Rising Obesity Prevalence:

The escalating prevalence of obesity globally is another significant factor fueling the growth of microneedle drug delivery systems. Microneedle technology provides a convenient and painless solution for delivering medications related to obesity. In England, for instance, the obesity rate among individuals aged 18 and older was projected to be 25.9% in 2021–2022, marking a significant increase. This uptick in obesity rates is a driving force behind the expanding market for microneedle drug delivery systems.

Explore the Global Microneedle Drug Delivery Systems Market with a Detailed Sample Report:
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Key Market Players Shaping the Landscape

Major companies contributing to the growth of the microneedle drug delivery systems market include 3M Company, Zosano Pharma Corporation, Becton-Dickinson Technologies, Nanopass Technologies, Corium Inc., Valeritas Inc., Microdermics, TheraJect Inc., LTS Lohmann Therapie-Systeme AG, BioSerenTach (BT), Sorrento Therapeutics, Debiotech, Raphas Co. Ltd., QuadMedicine, Snvia Co. Ltd.

Strategic Partnerships Drive Growth:
The market's expansion is further propelled by strategic partnerships. For instance, The Tapemark, a pharmaceutical company, partnered with 10X Technology Inc., a microstructured solution company, to enhance solutions in the pharmaceutical transdermal space. This collaboration aims to commercialize MicroDerm, a microneedle-based device for intradermal drug delivery, showcasing the power of partnerships in driving market growth.

Regional Dynamics: North America Takes the Lead

In 2023, North America emerged as the largest region in the microneedle drug delivery systems market, showcasing its leadership in adopting innovative healthcare solutions. Europe followed as the second-largest region in market analysis. The comprehensive market report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa, providing insights into diverse global trends.

Segmentation Insights: Tailoring Solutions to Varied Needs

The microneedle drug delivery systems market is segmented based on technology, application, and end-user, offering tailored solutions to diverse needs. Key segments include:

Technology: Hollow, Porous, Solid, Other Technologies
Application: Drug Delivery, Vaccine Delivery, Other Applications
End-User: Diagnostics Laboratories, Life Sciences, Research Laboratories, Hospitals, Ambulatory Surgical Centers, Other End-Users

Access the Complete Report for In-Depth Analysis:
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Microneedle Drug Delivery Systems Global Market Report 2023 from TBRC covers the following information:

Market size date for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Microneedle Drug Delivery Systems Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on microneedle drug delivery systems market size, microneedle drug delivery systems market drivers and trends, microneedle drug delivery systems market major players, microneedle drug delivery systems markcompetitors' revenues, microneedle drug delivery systems markpositioning, and microneedle drug delivery systems markgrowth across geographies. The microneedle drug delivery systems market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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