The future of drug delivery is getting smaller and smarter! The Dissolving Microneedles Market is poised for a revolutionary surge, with a projected market value of USD 118.5 million by 2034. This marks a significant leap from the current market valuation of USD 47.2 million in 2024. Fueling this impressive growth is a robust Compound Annual Growth Rate (CAGR) of 9.6%.
As the industry evolves, key players are navigating a landscape ripe with innovation and technological advancements. Dissolving microneedles, a revolutionary technology in dermatology and drug delivery, are set to play a pivotal role in shaping the future of the healthcare and cosmetic sectors.
Recent trends underscore the dominance of wrinkle treatments, maintaining their position as the most profitable application area for dissolving microneedles. In 2021, wrinkle treatments commanded a substantial share of 84.5%, highlighting the industry’s focus on addressing critical skincare needs.
Clinical trials for dissolving microneedles concentrate on their therapeutic application for cosmetics, anti-infectives (mostly vaccines), cancer, and skin diseases. Thus, a strong product pipeline of dissolving microneedles for numerous applications is anticipated to drive market growth for dissolving microneedles.
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Furthermore, the emergence of dissolving microneedles as a better alternative to hypodermic needles for vaccination as well as for cosmetic applications is boosting the demand for dissolving microneedles. Instead of using a hypodermic needle, administering vaccines with a small patch coated in several soluble microscopic needles may result in safer, more effective vaccinations that anybody may administer.
Needles used for hypodermic injections are regarded as biomedical waste and have to be disposed of in designated containers. The needles in the patch disappear into the body as soon as it is placed into the skin, leaving only the backing, which dissolves in water.
The reusing of needles, which occurs in areas with inadequate medical facilities, would be halted by the dissolving microneedle patches. The cost of the dissolving microneedle patches would be the same as that of traditional needles and syringes.
Additionally, dissolving microneedles can offer strong market potential with on-the-go and easy-to-use/administer dosage forms in a minimally invasive manner. Also, there are a significant number of needle-phobic patients, which makes the administration of vaccines difficult. Hence, there is significant demand for minimally invasive drug delivery systems like transdermal delivery of drugs.
Key Takeaways from the Dissolving Microneedles Market Study
- Exponential Growth: The dissolving microneedles industry is poised for exponential growth, with a projected market value of US$118.5 million by 2034, reflecting a substantial increase from the 2024 figure of US$47.2 million.
- Robust CAGR: The industry’s anticipated Compound Annual Growth Rate (CAGR) of 9.6% underscores its resilience and potential to outpace expectations, fostering confidence among stakeholders.
- Technological Advancements: The evolving landscape is marked by cutting-edge innovations, positioning dissolving microneedles as a frontrunner in technological advancements for both skincare and drug delivery.
- Healthcare and Cosmetics Integration: The convergence of dissolving microneedles in healthcare and cosmetics highlights their versatility, offering novel solutions for diverse applications and industries.
- Investment Opportunities: With such promising growth prospects, the dissolving microneedles sector presents attractive investment opportunities for stakeholders seeking to capitalize on the industry’s trajectory.
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“Rising number of needle-phobic population, increasing demand for dissolving microneedles for diagnosis and monitoring, and strong product pipeline for diverse applications are set to propel the demand of dissolving microneedles across the globe,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Dissolving Microneedles Market Competition
Major market players are constantly focusing on adopting strategies such as acquisitions, partnerships, capacity expansion, and strengthening their product portfolios and distribution networks to expand their global footprint as well as to improve their market share.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the Global Dissolving Microneedles Industry in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032. The Global Dissolving Microneedles Industry is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The Global Dissolving Microneedles Industry is segmented into three parts based on the application (wrinkle treatment and acne treatment), and distribution channels (retail stores, supermarkets & hypermarkets, online stores, and aesthetic/cosmetic clinics), across seven key regions of the world.
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Dissolving Microneedles Market Key Players:
- CosMED Pharmaceutical Co.Ltd.
- Micron Biomedical, Inc.
- Raphas Co., Ltd
- Nissha Co., Ltd
- Micropoint Technologies
- Small Lab
- Vice Reversa
- NINGBO CHIMED TECHNOLOGY CO., LTD
- Vaxess Technologies, Inc.
- QuadMedicine
Key Market Segments Covered In Dissolving Microneedles Market Research
By Application:
- Wrinkle Treatment
- Acne Treatment
By Distribution Channel:
- Retail Stores
- Supermarkets & Hypermarkets
- Online Stores
- Aesthetic/cosmetic clinics
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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