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Microneedle Drug Delivery Systems Global Market Analysis, Trends, Growth, Research And Forecast 2033
Microneedle Drug Delivery Systems Global Market
As per the report, the microneedle drug delivery systems market size has grown rapidly in recent years. It will grow from $4.32 billion in 2023 to $5.13 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. The microneedle drug delivery systems market size is expected to see rapid growth in the next few years. It will grow to $9.82 billion in 2028 at a compound annual growth rate (CAGR) of 17.6%.
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Growing Demand For Microneedle Drug Delivery Systems Driven By Vaccine Research
The increase in 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. 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 the growth of microneedle drug delivery systems market going forward.
Innovation In Microneedle Drug Delivery With Nanopass Launches Micronjet 600
Major companies operating in microneedle drug delivery systems are focusing on innovating products, such as the MicronJet 600, to provide reliable services to customers. MicronJet 600 is used as a microneedle drug delivery system for vaccines, drugs, peptides, and dermal fillers. For instance, in November 2021, NanoPass Technologies Ltd., a US-based company that develops painless intradermal delivery solutions for vaccines and drugs, launched MicronJet 600. The MicronJet 600 is a microneedle-based device for intradermal drug delivery. It is the first and only true (
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