Market and Competitive Opportunity Solution help a Medical Device Company Assess the Landscape of Dissolvable Microneedle Technology Area | Identification of Top Competitors through Competitive Intelligence | DelveInsight

LAS VEGAS, March 2, 2021 /PRNewswire/ -- Dissolvable Microneedle technology is a part of intradermal drug delivery, which is increasingly getting recognized as a potential solution to many of the challenges of drug delivery systems. They are providing an opportunity to the medical device companies to venture into a new drug delivery arena, as it has a market size that is showing tremendous growth exponentially every year.  This technology has the potential benefit to effectively administer small molecules, vaccines, or even biologics while improving bioavailability.

"Health care professionals and patients are turning towards a painless, affordable, and accessible mode of drug delivery, and the dissolvable microneedle technology are proving to be a suitable candidate. Understanding the technology, identifying the opportunities, and staying ahead of the competitors is the only way to be one step ahead in this steep competitive market of drug delivery technologies." says a market research consultant at DelveInsight

Business Challenge

A large client based in the USA, involved in drug delivery devices, with effective marketing and commercialization presence across the globe, wanted to assess the competitors engaged in microneedle technology for delivering therapeutic products. They wished to identify and evaluate the technological competencies, clinical capabilities, and commercial readiness of competitors. The competitors were working to develop a novel way of delivering drugs, which is non-invasive, and one that can include a variety of drugs/vaccines in their patch and successfully develop the product for commercial purposes.

DelveInsight's Project Approach

To provide a suitable solution to our client, our professionals/experts at DelveInsight, initiated the process by carrying out:

• A market opportunity assessment to identify and understand the emerging and upcoming market trends, technologies, market profit landscape, recent advancements, challenges, and the competitive landscape of the microneedle technology market
• A Competitive opportunity assessment study through core primary research to identify and evaluate the upcoming competitor's services, offerings, current pipeline, and their future strategies can lead to a successful acquisition for our client.
• A market evaluation study by gathering and collecting relevant historical and current data about the growth, opportunities, threats, barriers, and drivers of the microneedle market to aid the client in building a strategy to keep its foot in this new arena.

Business Outcome

By leveraging DelveInsight's solution, our client, who has a global presence in the medical device technology domain were able to evaluate all the possible positive and negative parameters and aspects of this competitive market and understand their competitor's scenario and their present portfolio. They were also able to capture the investment and collaboration outlook of microneedle technology and build a strategic plan of action for expanding their product portfolio. They were updated continuously about their market through DelveInsight's real-time and actionable primary insights on their competitors.

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About DelveInsight 

DelveInsight is a business consulting firm with deep industry expertise in the life science vertical with a core focus on the pharma and biotech industries. We consistently help our clients in making sound decisions facilitating better business performances, and achieving incredible growth.

Contact us for more insights on the dissolvable microneedle technology and its growth opportunities, and learn how our solutions can help the companies tackle and prepare for this evolving market.

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Shruti Thakur 
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SOURCE DelveInsight Business Research, LLP