The North America Microneedle Drug Delivery Systems Market would witness market growth of 7.1% CAGR during the forecast period (2021-2027).
There are safer alternatives to traditional hypodermic injection present in the market, which is anticipated to boost the demand for microneedle drug delivery systems in the coming years. In addition, the market growth would be driven by the increasing adoption of microneedle drug delivery systems. According to the Centers for Disease Control and Prevention, the release of a new Microneedle patch would facilitate the vaccination of people in cases of preventable diseases. Hence, the microneedle drug delivery systems are witnessing a surge in its demand, owing to the growing number of vaccinations for several medical conditions like measles. Moreover, the less-skilled or less-trained healthcare workers can also easily use or manage the microneedle.
The microneedle drug delivery systems offer benefits like increased permeability and efficacy, self-administration, better patient compliance, and rapid action. These benefits have made microneedle drug delivery systems more beneficial than traditional hypodermal injections. Additionally, microneedles offer consistent and accurate outcomes with minimum inter-subject variability in bioavailability.
The region is home to some of the leading market players, which would create new growth avenues for the North American microneedle drug delivery systems market. These players are also investing a high amount to develop better techniques. In addition, factors such as the rapid increment in the geriatric population and the increase in premature births around the world are estimated to boost the demand for microneedles drug delivery systems in the regional market.
Moreover, the surge in the treatment of cancer is one of the main factors fueling the demand for the microneedle drug delivery systems in the regional market. Microneedles are small needle-like structures utilized for drug administration via layers of the skin. The majority of individuals in the region are living an unhealthy lifestyle that could augment the demand for microneedle drug delivery systems in the regional market.
The USA market dominated the North America Solid Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $668.1 million by 2027. The Canada market is experiencing a CAGR of 7% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 9.2% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Microneedle Drug Delivery Systems Market is Estimated 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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