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Report Scope:
The report provides an overview of the global solid microneedle market and analyzes market trends. Using 2021 as the base year, the report provides estimated market data for the forecast period, 2022-2027. Revenue forecasts for this period are segmented based on application and geography. Market values have been estimated based on the total revenue of solid microneedle manufacturers.
The report covers the market for solid microneedles with regard to the user base, across different regions. It also highlights major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for solid microneedles in 2021 and provides projections for the expected market size through 2027. The scope of the study includes the wide range of solid microneedle and application on them in different medical arenas.
Report Includes:
- An overview of the global markets for solid microneedles used in advanced drug delivery systems
- Analyses of the global market trends, with historic revenue data from 2019 to 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the upcoming market potential for solid microneedles, growth driving factors and areas of focus to forecast this market into various segments and subsegments
- Estimation of the actual market size and revenue forecast for global solid microneedles market in USD million values, and corresponding market share analysis by type, application and geographic region
- In-depth information (facts and figures) concerning market drivers, opportunities and challenges, and other macroeconomic forces influencing the demand for solid microneedles in the coming years (2022-2027)
- Updated information on recent industry acquisitions, partnerships, agreements, collaborations, and other strategic alliances in the global market for solid microneedles
- A relevant patent analysis with data corresponding to number of U.S. patents and patent applications related to solid microneedle technologies
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
Summary:
The idea of microneedles arose in the 1970s. A patent that explains a drug delivery device giving small projectionsthat is, microneedleswas filed in 1971, by Gerstel and Martin from Alza Corporation. In 1976, an American patent for transdermal delivery via microneedle was released. (As far back as 1905, a German dermatologist initially utilized a technique involving the rotating wheels and rasps that helped treat various skin conditions.) The development of microneedles was emerging till the 1990s. In 1998, an innovative approach to transdermal drug delivery was developed. Today, microneedles are still evolving, expanding their fields and improving outcomes.
Microneedles has been proven as a highly effective and versatile technique, which is applied in various medical fields from dermatology to vaccines, from drug delivery to diseases treatment. Solid microneedles come in different forms such as silicon, metal, polymer, and ceramic, and they are used in cosmetic fields. It is a highly recommended and accepted method by physicians and patients due to its minimally invasive, painless approach, affordable, therapeutic efficacy, and relatively safe technique.
The global market for solid microneedles was estimated to be $REDACTED in 2021. It is projected the solid microneedle market will grow at a CAGR of REDACTED% and reach $REDACTED by 2027.
Growth of the global market is attributed to the factors such as the wide range of existing and potential applications for microneedles, increasing demand for dermatology procedures and minimally invasive drug delivery, and the growing number of infectious diseases. However, the risks and limitations of using microneedling devices, as well as stringent product scenario, are hindering the market growth. Apart from drivers and restraints, R&D of microneedles by key players will create huge opportunities for vendors in the market.
In this report, the global market for solid microneedles has been segmented based on application and geography. Based on application, the solid microneedle market has been categorized into dermatology, disease treatment and others. Dermatology currently dominates the market and was valued at $REDACTED in 2021. It is estimated the solid microneedle market for dermatology will grow at a CAGR of REDACTED% and is forecast to reach $REDACTED by 2027.
By geography, the solid microneedle market has been segmented into North America, Europe, Asia-Pacific, and Rest of the World. The North American region currently is the dominant market for solid microneedles. In 2021, total revenue from the North American solid microneedle market reached $REDACTED, which is around REDACTED% of the global market. The increased incidence of asthma, increasing incidence of influenza, rising number of cases of acne and presence of major market players are some of the key factors driving the North American market. Asia-Pacific is currently the fastest-growing market for solid microneedles globally. The Asia-Pacific solid microneedle market was valued at $REDACTED in 2021. The Asia-Pacific solid microneedle market is projected to grow at a CAGR of REDACTED% and is forecast to reach $REDACTED by 2027.