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Microneedle Drug Delivery System Market Analysis and Forecast up 2025
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Microneedle drug delivery system promise pain-free delivery of both small and large molecular weight active pharmaceutical ingredients into the viable epidermis avoiding contact with nerve fibers and blood vessels present in the dermal layers. However, new developments in biotechnology, microfabrication technology, allow to demonstrate in vitro, ex vivo, and in vivo experiments, which is also paving the way for enhancement in the delivery of drugs.
High adoption in number of safety issues that are emerging, which have short and long term implications for clinicians, patients, healthcare administrators, and regulators, growing research and development initiatives, growing demand for safer alternative to conventional hypodermic injections is the most important driving factor for microneedle drug delivery system market. According to the Centers for Disease Control and Prevention, new microneedle patch could make it easier to vaccinate people against measles and other vaccine-preventable diseases. Measles being a highly contagious virus can affect population in large number for which precautions during vaccine preparation and vaccination should be taken care.
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Around 20 million people are affected with measles every year and unfortunately, global coverage with the measles vaccine has been stagnant for the last few years at around 85% which is below the coverage percentage. Hence, microneedle patch are designed to administer by minimally trained workers and also to simplify storage, distribution, and disposal process. According to WHO, 2015, the number of cancer new cases is expected to rise by about 70% over the next 2 decades due to which there can be a demand of microneedle patches for the drug delivery system.
Growth in technologies such as microneedle patches, rise in transdermal drug delivery applications for pain management, congestive heart failure and hormone replacement, will again fuel the overall microneedle drug delivery system market. Drug degradation, poor absorption, local irritation and variability in absorption is expected to hamper the microneedle drug delivery system market growth.
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The microneedle drug delivery system market has been segmented by source type, by technology type, by application type, by end-users and by geography. In terms of technology type microneedle drug delivery system market is classified into hollow, porous, solid, and others. In terms of source type microneedle drug delivery system market is classified into silicon, metals, polymers, polysaccharides and others.
In terms of application microneedle drug delivery system market is classified into cardiovascular, oncology, dermatology, neurology and others. Cardiovascular is highly growing application segment because of increasing prevalence of cardiovascular diseases and stroke globally. According to WHO, 17.5 million people died from cardiovascular diseases in 2012, representing 31% of all the global deaths. Of these deaths, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. In terms of end users microneedle drug delivery system market is classified into diagnostic laboratories, life sciences and research laboratories, hospitals, ambulatory surgical centers, and others.
Geographically microneedle drug delivery system market is classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Geographically North America dominates the global microneedle drug delivery system market due to patient awareness with high per capita health care expenditure.
Early-phase diagnosis and treatment of disease, and easy regulations for transdermal drug delivery vaccines is driving the medical biotechnology market which in turn is expected to drive the microneedle drug delivery system market in North America. Europe is the second largest market for microneedle drug delivery system as there are favorable government policies regarding health care infrastructure and awareness of contagious diseases.
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Asia Pacific is expected to grow at higher rate due to rising population, changing lifestyle, rising awareness between patients and increasing per capita expenditure. In addition, economic growth and improving the efficacy of cosmetic products is supporting the health care infrastructure improvement in developing countries such as India and China. Thus, all the above mentioned factors collectively support the growth of microneedle drug delivery system market for Asia Pacific region and expected to propel the market share of the segment by 2025.
The major players operating in the global microneedle drug delivery system include 3M, Vetter Pharma International GmbH, nanoBioSciences LLC, NanoPass, Microdermics Inc, Zosano Pharma Corporation, Micropoint Technologies Pte Ltd, BuBclean, MyLife Technologies, Innoture Medical Technology Limited, Phillips Plastic Corporation, Corium International, Inc., Stemedica Cell Technologies, Inc., and among others.
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