Microneedle Drug Delivery Systems Market is expected to expand at a CAGR of 5.3% from 2021 to 2028
Microneedle Drug Delivery Systems Industry Overview The global microneedle drug delivery systems market size was valued at USD 5.57 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028. There is a growing demand for microneedle drug delivery systems owing to the availability of safer alternatives to the conventional hypodermic injection, which is minimally invasive and enables pain-free administration. The current global scenario, where the COVID-19 vaccine is in high demand, is expected to offer growth opportunities for microneedles. In addition, the increasing cases of diabetes are expected to boost the market growth. For instance, as per the WHO, diabetes affected around 422 million individuals worldwide in 2014 from 108 million in 1980. Microneedle drug delivery systems are more beneficial than conventional hypodermal injections because of advantages such as the quicker onset of action, incr...