The future of drug delivery is getting smaller and smarter! The dissolving microneedles market is about to undergo a revolutionary boom, with an expected market value of USD 118.5 million in 2034This marks a significant jump from the current market valuation of $47.2 million in 2024This impressive growth is fueled by a robust Compound annual growth rate (CAGR) of 9.6%.
As the industry evolves, key players navigate a landscape of innovation and technological advancement. Dissolving microneedles, a revolutionary technology in dermatology and drug delivery, will play a crucial role in shaping the future of the healthcare and cosmetics sectors.
Recent trends underline the dominance of wrinkle treatments, which maintain their position as the most profitable application area for dissolving microneedles. In 2021, wrinkle treatments accounted for a substantial share of 84.5%, highlighting the industry’s focus on addressing critical skincare needs.
Clinical trials for dissolving microneedles are focused on their therapeutic application for cosmetics, anti-infectives (mainly vaccines), cancer, and skin diseases. Therefore, a strong product pipeline of dissolving microneedles for numerous applications is expected to boost the dissolving microneedles market growth.
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Furthermore, the emergence of dissolvable microneedles as a better alternative to hypodermic needles for vaccination and cosmetic applications is driving demand for dissolvable microneedles. Instead of using a hypodermic needle, administering vaccines using a small patch covered with multiple dissolvable microscopic needles could result in safer, more effective vaccinations that anyone can administer.
Needles used for hypodermic injections are considered biomedical waste and should be disposed of in appropriate containers. The needles in the patch disappear into the body once it is inserted into the skin, leaving only the backing, which dissolves in water.
The reuse of needles, which occurs in areas with insufficient medical facilities, would be stopped by the dissolvable microneedle patches. The cost of the dissolvable microneedle patches would be the same as that of traditional needles and syringes.
In addition, dissolving microneedles may 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. Therefore, there is a significant demand for minimally invasive drug delivery systems such as transdermal drug delivery.
Key findings from the market research on soluble microneedles
- Exponential growth: The dissolvable microneedles industry is poised to grow exponentially, with a market value expected to reach $118.5 million by 2034. This is a significant increase from the $47.2 million expected in 2024.
- Robust CAGR: The sector’s expected compound annual growth rate (CAGR) of 9.6% underscores its resilience and potential to exceed expectations, fueling stakeholder confidence.
- Technological advancement: The changing landscape is characterized by breakthrough innovations, making dissolvable microneedles at the forefront of technological advancements for both skin care and drug delivery.
- Integration of healthcare and cosmetics: The convergence of soluble microneedles in healthcare and cosmetics highlights their versatility and offers new solutions for diverse applications and industries.
- Investment opportunities: With such promising growth prospects, the dissolvable microneedles sector offers attractive investment opportunities for stakeholders looking to capitalize on developments in the sector.
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“The rising number of needle-phobic people, the increasing demand for dissolvable microneedles for diagnostics and monitoring, and the strong product pipeline for diverse applications will drive the demand for dissolvable microneedles worldwide,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Competition in the Dissolving Microneedles Market
Major market players are continuously focusing on adopting strategies such as acquisitions, partnerships, capacity expansion, and strengthening their product portfolios and distribution networks to expand their global presence and increase market share.
What does the report contain?
Future Market Insights offers a unique perspective and actionable insights into the global dissolving microneedles industry in its latest study, which presents a historical demand assessment from 2017-2021 and projections for 2022-2032. The global dissolving microneedles industry is segmented in detail to cover every aspect of the market, offering the reader a complete market intelligence approach.
The global dissolvable microneedling industry is divided into three parts based on application (wrinkle treatment and acne treatment) and distribution channels (retail stores, supermarkets & hypermarkets, online stores and aesthetic/cosmetic clinics), spread across seven major regions in the world.
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Key players in the dissolvable microneedles market:
- CosMED Pharmaceutical Co.Ltd.
- Micron Biomedical, Inc.
- Raphas Co., Ltd
- Nissha Co., Ltd
- Micropoint technologies
- Small laboratory
- Vice-Reversa
- NINGBO CHIMED TECHNOLOGY CO.,LTD
- Vaxess Technologies, Inc.
- QuadMedicine
Key Market Segments Covered in the Dissolvable Microneedles Market Research
On request:
- Wrinkle treatment
- Acne treatment
Via distribution channel:
- Stores
- Supermarkets & Hypermarkets
- Online stores
- Aesthetic/cosmetic clinics
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) has over 12 years of experience in healthcare, medical devices and pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges that clients face and devising robust, hypothesis-driven solutions to provide 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.
Sabyasachi has a degree in microbiology and is the author of numerous publications. Her work has been cited in journals such as The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award recipient, and member of the Greater New York Chamber of Commerce) provides deep insights into the drivers that are driving demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food & Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a large team of more than 400 analysts worldwide, FMI offers global, regional, and local expertise across a variety of domains and industry trends in more than 110 countries.
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