The Asia Pacific Microneedle Drug Delivery Systems Market would witness market growth of 9.2% CAGR during the forecast period (2021-2027).
Microneedles are smaller needles that are developed to deliver medicines inside a patient’s body. These microneedles offer several benefits for biological agents in comparison to traditional syringe and needle delivery systems. As microneedle is extensively used for the delivery of drugs, it is playing a crucial role in the medical, biotechnology, and pharmaceutical industries. Moreover, microneedles have found its applications across various medical fields like dermatology, oncology, cardiovascular, and neurology.
Factors such as ever-increasing population, drug administration transdermal & intradermal drug delivery systems, and early phase disease diagnosis & treatment are expected to create lucrative growth opportunities for the market. Moreover, high per capita health care expenditure is likely to unlock growth prospects for the microneedle drug delivery systems market during the coming years.
The microneedle drug delivery systems market is anticipated to witness significant growth in Asia-Pacific. As many of the countries of the region were hit hard by the outbreak of the COVID-19 pandemic, microneedle drug delivery systems played a pivotal role in the treatment of the COVID-19 infection-associated malnutrition in patients across the world.
Moreover, the increase in the occurrence of chronic disorders like cancer, Crohn’s disease, HIV, and others are expected to fuel the growth of the regional microneedle drug delivery systems market during the forecasting period. Furthermore, numerous premature babies get nutrition delivered using microneedles. Intravenous solutions have been a crucial component of the healthcare system of many countries, allowing doctors & nurses to provide hydration to their patients, substitute loss of blood volume, and administer drugs. Therefore, these factors are set to boost the demand for microneedle drug delivery systems in the regional market.
The China market dominated the Asia Pacific Silicon Market by Country in 2020, thereby, achieving a market value of $151.9 million by 2027. The Japan market is showcasing a CAGR of 9.7% during (2021 - 2027). Additionally, The India market is anticipated to grow at a CAGR of 9.7% during (2021 - 2027).
Based on Type, the market is segmented into Hollow, Dissolving, Solid, Coated, and Other Types. Based on Material, the market is segmented into Metal, Polymer, Silicon and Other Material. Based on Application, the market is segmented into Drug delivery, Cancer Therapy, Vaccine delivery, Pain Management, Dermatology and Other Applications. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Microneedle Drug Delivery Systems Market is Projected to reach USD 9.1 Billion by 2027, at a CAGR of 7.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AdminMed nanoBioSciences LLC, Becton, Dickinson and Company, Zosano Pharma Corporation, Raphas co. ltd., Nanopass Technologies Ltd., Corium International, Inc., Gurnet Point Capital), Valeritas, Inc. (Zealand Pharma), Nitto Denko Corporation, Endoderma Ltd., and Innoture Medical Technology Limited.
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