Global Microneedles for Drug Delivery Market Report and Forecast 2024-2032

Microneedles for Drug Delivery Market Size

The global microneedles for drug delivery market was valued at USD 3.03 billion in 2023 due to advancements in technology and the increasing prevalence of chronic diseases across the globe. The market is expected to grow at a CAGR of 7.2% during the forecast period 2024-2032 and attain a market value of USD 5.67 billion by 2032.

Microneedles for Drug Delivery Market Outlook

• The market demand is driven by the rising prevalence of chronic diseases as well as obesity across the globe.

• The rise in minimally invasive procedures to minimize complications and side effect effects is expected to boost the demand for microneedles in the forecast period.

• North America is expected to lead the market share in the forecast period. The market value can be attributed to a well-developed infrastructure and the presence of key healthcare companies in the region.

Microneedles for Drug Delivery Market Overview

Microneedle drug delivery is the process in which tiny needles are used to administer drugs or vaccines directly through the skin. It has the potential to decrease pain, get rid of conventional needles, and enhance drug stability. Microneedles resemble tiny needles that are under one millimeter in length. They are utilized in both medical and cosmetic industries for creating tiny pathways to transport healing substances into tissues. There are various forms in which these microneedles are available, including solid, coated, and dissolvable forms.

Microneedles improve drug delivery by boosting bioavailability, accuracy in dosing, and adherence in patients. They are used for delivering drugs through the skin and treating skin conditions. It is beneficial for individuals who are afraid of needles or administering drugs that can't be taken orally.

Recent improvements in microneedle technology include advancements in design and materials, leading to the development of dissolvable microneedles that reduce the risk of needle reuse and associated infections. Innovations such as microneedle patches and biodegradable microneedles have expanded the scope of drug delivery systems, making them more versatile and patient-friendly.

Microneedles for Drug Delivery Market Growth Drivers

Surge in Prevalence in Chronic Diseases and Obesity Spurs Market Growth

The rising prevalence of chronic diseases and obesity is driving growth for microneedles in drug delivery. Chronic diseases such as diabetes, cardiovascular disease, and cancer, are on the rise, making it necessary to improve drug delivery techniques. According to the World Health Organization, chronic diseases are responsible for 74% of deaths worldwide, accounting for approximately 41 million deaths each year. According to the International Agency for Research on Cancer (IARC ), around 20 million cancer cases were reported along with 9.7 million fatalities in 2022. Obesity also adds to long-term health issues and the need for innovative treatment choices. The World Health Federation predicts that approximately 2.3 billion individuals are currently suffering from obesity, and this number could rise to 2.7 billion by 2025 if current patterns continue. Microneedles provide a pain-free and accurate method of drug delivery, especially beneficial for obese individuals who have difficulty with regular needles, leading to a higher acceptance of this technology.

Technological Advancements to Drive Global Microneedles for Drug Delivery Market Demand

Technological developments fuel the need for microneedles in pharmaceutical distribution. In January 2024, a new wearable patch called the Spatiotemporal On-Demand Patch, featuring microneedles for drug delivery in neurodegenerative disorders was introduced. The patch includes a circuit coated in material like Band-Aids and can be wirelessly operated for administering medication. Advancements such as soluble and environmentally friendly microneedle designs enhance safety and efficiency, allowing for controlled drug delivery and decreasing the chances of infection. Improved manufacturing methods, such as 3D printing and micro-moulding, create accurate microneedles. In 2024, a novel method of drug delivery was created, utilizing nanoparticles and microneedles to enhance how losartan potassium and hydrochlorothiazide are delivered through the skin for treating hypertension. This indicates that the usage of biocompatible materials is increasing in the medical domain.

Microneedles for Drug Delivery Market Trends

The market is witnessing several trends and developments to improve the current scenario. Some of the notable trends are as follows:

Growing Demand for Minimally Invasive Drug Delivery Systems

There is a growing demand for minimally invasive drug delivery systems. Patients and healthcare professionals are looking for ways to decrease pain, lower the risk of infection, and improve convenience. Microneedles are becoming a popular choice for managing chronic conditions in patients of all ages as they provide a painless and user-friendly alternative to conventional injections.

Growth in Cosmetic Applications

The rising usage of microneedles in cosmetic uses is driving growth in the global market. These small needles are utilized in dermatology and aesthetic medicine for better delivery of active ingredients into the skin. Microneedles form small openings in the skin, enhancing the absorption of medicine for purposes such as anti-aging, skin revitalization, and acne treatment. They present a less intrusive alternative to conventional cosmetic treatments, fueling interest in the beauty sector.

Rise in Personalized Medicine

The shift towards personalized care is anticipated to increase the demand for microneedles, leading to market growth. Customizing medical treatment for individual patients enhances results, and microneedles are essential for accurate drug administration. They can give different medications and can be tailored for precise amounts, making them perfect for individualized therapies.

Government Initiatives and Funding

Initiatives and financial support from the government are essential in propelling the market. Microneedles are acknowledged for their ability to improve public health, resulting in higher levels of global investment in research and development. Funding programs and grants facilitate collaborations between academia and industry to promote innovations in microneedle technology.

Microneedles for Drug Delivery Market Segmentation

Market Breakup by Product

• Solid Microneedles
  • Silicon
  • Metal
  • Polymer

• Hollow Microneedles

• Dissolving Microneedles

• Hydrogel

• Coated

Market Breakup by Application

• Drug Delivery

• Dermatology

• Vaccine Delivery

• Others

Market Breakup by Material

• Silicon

• Metal

• Polymer

• Others

Market Breakup by End User

• Hospitals

• Ambulatory Surgical Centers

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Microneedles for Drug Delivery Market Share

Market Segmentation Based on Application to Witness Growth

Based on the application, the market is segmented into drug delivery, dermatology, vaccine delivery, and others. Microneedles are widely used for delivering drugs because of their minimally invasive and painless behavior. They can transport both small and large molecules, making them adaptable for various types of treatments. It has the advantage of precise and regulated release which support the treatment of chronic diseases and personalized medicine. Their dominance in the market is due to their effectiveness and their focus on the needs of patients.

Microneedles for Drug Delivery Market Analysis by Region

Based on region, the market report covers North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.

North America is expected to dominate the market with its top pharmaceutical companies, advanced healthcare infrastructure, government support and a high incidence of chronic diseases. The market in the region is also being propelled by the increasing popularity of minimally invasive treatments and personalized medicine.

Europe is also poised to have a significant market share because of developed healthcare systems and knowledge of innovative delivery techniques. European nations are advancing microneedle technologies for vaccines and dermatology with the help of regulatory efforts to improve patient care. The rapid expansion of microneedles for drug delivery in the Asia-Pacific region can be attributed to the region's large population and increased healthcare expenditures. Market growth is propelled by increasing chronic illnesses and the need for affordable drug distribution.

Leading Players in the Microneedles for Drug Delivery Market

The key features of the market report include patent analysis, grant analysis, funding, and investment analysis as well as strategic initiatives including recent partnerships and collaborations by the leading players. The major companies in the market are as follows:

Becton, Dickinson and Company

Becton, Dickinson and Company commonly known as BD is a renowned medical technology company recognized for its creative healthcare solutions. BD's microneedle technology aims to enhance drug delivery mechanisms by offering less invasive and pain-free methods for administering vaccines and medications. This aligns with BD's goal of enhancing patient care and progressing the medical field through cutting-edge technologies and products.

Microdermics Inc.

Microdermics, Inc. functions as a pharmaceutical establishment. The company provides a hollow microneedle platform to rejuvenate current therapeutics and vaccines. Microdermics  is in the process of creating and bringing to market a unique hollow microneedle platform that can be used for bio-sensing and delivering drugs into the skin. The purpose of the technology is to offer minimally invasive, accurate, and convenient access to the skin.

Asti Corporation

Asti Corporation produces electrical devices and parts for cars, home appliances, telecommunications, and control systems. Founded in 1963, this company is based in Shizuoka, Japan. The company has gained a competitive edge in microneedle processing by utilizing our advanced processing technology and mould injection technology.

Kindeva Drug Delivery

Kindeva is a global leader in both combination drug delivery and manufacturing. The company has a goal with a long tradition of creativity and expertise to produce top-notch products consistently. Their microneedle array patches are designed to deliver small and large molecules like vaccines, peptides, proteins, and biologics intradermally with precision and dependability.

Other players in the market are IDEX Corporation, LTS Lohmann Therapie-Systeme AG, Nemaura Pharma Limited, SeriTech Europe S.L., Youwe (Zhuhai) Biotechnology Co., Ltd, and Zosano Pharma Corporation.

Key Highlights of the Report

Key Questions Answered in the Microneedles for Drug Delivery Market Report

• What was the global microneedles for drug delivery market value in 2023?
• What is the global microneedles for drug delivery market forecast outlook for 2024-2032? 
• What are the regional markets covered in the EMR report?
• What is market segmentation based on product? 
• What is market segmentation based on application? 
• What is the market breakup based on material? 
• Who are the major end users in the market?
• What are the major factors aiding the global microneedles for drug delivery market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years? 
• What are the major drivers, opportunities, and restraints in the market?  
• What are the major trends influencing the market?  
• Which regional market is expected to dominate the market share in the forecast period?  
• Which country is likely to experience elevated growth during the forecast period?  
• Who are the key players involved in the global microneedles for drug delivery market? 
• What are the current unmet needs and challenges in the market? 
• How are partnerships, collaborations, mergers, and acquisitions among the key market players shaping the market dynamics?