Major players in the microneedle drug delivery systems market are 3M, Zosano Pharma, Becton-Dickinson Technologies, Nanopass Technologies, Corium, Valeritas, Microdermics, TheraJect Inc. , LTS Lohmann Therapie-Systeme AG, BioSerenTach (BT), Sorrento Therapeutics, Debiotech, Raphas Co.
New York, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Microneedle Drug Delivery Systems Global Market Report 2021: COVID-19 Growth And Change" - https://www.reportlinker.com/p06177519/?utm_source=GNW
Ltd., QuadMedicine, SNvia, and NanoBiosciences.
The global microneedles drug delivery systems market is expected to grow from $0.66 billion in 2020 to $0.75 billion in 2021 at a compound annual growth rate (CAGR) of 13%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.02 billion in 2025 at a CAGR of 8.1%.
The microneedles drug delivery systems market consists of sales of microneedle drug delivery systems by entities (organizations, sole traders, and partnerships) which allow the users to adapt to the safer alternative process of drug delivery.Microneedles drug delivery system is a device with hundreds of microneedles on a patch that delivers a sufficient amount of drug in treatment.
Microneedles drug delivery systems are also known as microneedle patches.
The main types of technologies in microneedle drug delivery systems are solid microneedle technology, hollow microneedle technology, dissolved microneedle technology, and others.Peptides are dried on the tips of a microneedles array in the solid microneedles method, which uses a coating of powerful chemicals.
The solid microneedles are 250 micrometers to 700 micrometers in length and come in patch form that can be stored at room temperature. The microneedle drug delivery systems are used for drug delivery, vaccine delivery, others and employed in diagnostic laboratories, life sciences, research laboratories, hospitals, ambulatory surgical centers, and others.
North America was the largest region in the microneedles drug delivery systems market in 2020.Europe was the second-largest region in the microneedles drug delivery systems market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Biodegradable microneedles drug delivery patches are increasingly used in local therapeutic gene delivery and treatment of chronic diseases.The use of biodegradable microneedles patches helps in easy and fast delivery of genes through targeting the skin as a site for local delivery.
Gene delivery and treatment with these patches are easily accessible and contain fluid and lymph vessels that help the genetic material to act effectively.For instance, in 2020, a group from Terasaki Institute for Biomedical Innovation has recently worked on optimizing the release and performance of the biodegradable patches.
Biodegradable microneedles patches offer several advantages in gene delivery such as improved efficacy, fast delivery, customized delivery, and others.
In May 2020, Altaris Capital Partners, a US-based company acquired Kindeva Drug Delivery for $650 million.The deal is expected to help Altaris to develop and provide more innovative drug delivery technologies to the healthcare system by using the expertise of 3M and the Kindeva team.
Kindeva Drug Delivery (Formerly known as 3M Drug Delivery Systems) is an American manufacturer of pharmaceutical and biotechnology products including inhalation, microneedle, and transdermal drug delivery technologies used for the treatment of cardio and respiratory health conditions.
Increasing research and demand for the vaccination process are predicted to drive the microneedle drug delivery systems market growth.Researchers view microneedle as an alternative way to inject vaccines where the receiver of the vaccine is expected to not feel any sensation of pain.
Microneedle patches vaccine was developed initially for flu and measles; however, the technology is now being used increasingly for delivery of COVID-19 vaccine as well.For instance, in 2020, The University of Connecticut, Vaxess, and Verndari are using microneedles to deliver viral proteins into the skin, where they induce an immune response.
According to a Bloomberg report, more than 3.98 billion doses of vaccine have been administered across 180 countries until July 2021. Increased demand from government and health research and development bodies for microneedle drug delivery technology propels the market for microneedle drug delivery systems going forward.
The countries covered in the microneedle drug delivery systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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