Global Implantable Drug Delivery Devices Market Size, Share, Growth, Trends, Company Analysis and Forecast 2019-2026

Published Date : Aug 2019 | No. of Pages : 140 Pages | Category : Healthcare

The global implantable drug delivery devices market size is expected to reach USD 31.8 billion by 2026 registering at a 7.5% CAGR during the forecast period 2019 to 2026. Growing incidence of chronic diseases, coupled with rising demand for minimally invasive treatment options, is driving the market for implantable drug delivery devices.

Implantable drug delivery devices are the medical devices, which enable site specific drug administration. It also helps in minimizing the doses of drug in order to reduce potential side effects. These devices facilitate sustained release of a therapeutic agent. These implantable devices are gaining edge over conventional oral or parenteral dosage forms due to site specific and sustained release therapeutic action of implantable devices, which further minimize the side-effects associated with the drug.

The major factors driving the growth of this market are growing incidences of target disease such as diabetic retinopathy, prostate cancer, cardiovascular diseases and chroni diseases. Rising cases of unwanted pregnancies and growing aging population also supplement the growth of this market. However, cost associated with the use of these devices has restricted the market growth.

Competitive Analysis

Bayer Healthcare, Boston Scientific Corporation, Allergan Inc., Medtronic Inc., Merck, Bausch and Lomb, Inc. and Abbott laboratories are some of the major players in this market. Product launch, merger & acquisition and research & development are the competitive strategies adopted by these key players. In 2013, Bayer Healthcare launched a noval hormonal intrauterine device (IUD) Skyla. The same product is launched in Europe with the brand name Jaydess, which is used for the prevention of pregnancy for up to three years.

Further key findings from the report suggest:

  • By product, drug-eluting stents held a dominant share in the market in 2016, owing to their growing adoption in hormone regulation, contraception, pain management, and cancer therapy. Bio-absorbable stents, on the other hand, are anticipated to grow at a lucrative rate owing to increase in incidence of peripheral and coronary artery diseases
  • On the basis of type, the non-biodegradable segment held the largest share in 2016, as a consequence of easy availability of these products and their established efficacy
  • Diffusion held a dominant share in the market on the basis of technology, owing to significant increase in adoption as it offers better patient outcomes and acceptability
  • By application, cardiovascular accounted for a substantial share in 2016 due to increasing adoption of drug-eluting and bio-absorbable stents for management of cardiovascular diseases. Autoimmune diseases, on the other hand, are expected to exhibit the fastest CAGR owing to rising prevalence of multiple sclerosis and rheumatoid arthritis
  • While North America held a substantial share in 2016 owing to rising prevalence of chronic diseases, unhealthy lifestyles, and high stress levels among the population, Asia Pacific is anticipated to achieve significant CAGR through 2025. This is owing to improving healthcare systems, rising healthcare expenditure, and growing awareness.

Segmentation:

Market is segmented based on product type, technology, application and geography.

MARKET BY PRODUCT TYPE

  • Implantable Coronary Drug Eluting Stents
  • Implantable Bio-Absorbable Stents
  • Implantable Contraceptive Drug Delivery Devices
  • Implantable Intraocular Drug Delivery Devices
  • Implantable Brachytherapy Seeds
  • Implantable Drug Infusion Pumps

MARKET BY TECHNOLOGY

  • Biodegradable Implantable Drug Delivery Device Technology 
  • Non-Biodegradable Implantable Drug Delivery Device Technology

MARKET BY APPLICATION

  • Ophthalmology
  • Cardiovascular
  • Birth Control/Contraception
  • Oncology 
  • Others

MARKET BY GEOGRAPHY

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

Featured Research Reports

  • Featured Research Reports

    Optical Imaging Systems Market (By Technology: Photoacoustic Tomography, Optical Coherence Tomography, Hyperspectral Imaging, Near-infrared Spectroscopy; By Product: Imaging Systems, Optical Imaging Software, Illumination Systems, Others; By Application: Pathological, Intraoperative; By End-use Outlook; By Therapeutic Area) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022 – 2030

    Read more...
  • Featured Research Reports

    U.S. Medical Device Outsourcing Market (By Service (Product Upgrade Services, Product Design & Development Services, Quality Assurance, Contract Manufacturing) - Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022 – 2030

    Read more...
  • Featured Research Reports

    Environmental Biotechnology Market (By Product: Microbial Blends, Nutrients, Enzymes, Microbes; By Application: Wastewater Treatment, Bioremediation, Other) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022 – 2030

    Read more...
  • Featured Research Reports

    Fitness Platforms For Disabled Market (By Type: Exercise & Weight Loss, Diet & Nutrition, Activity Tracking; By Platform: Android, iOS; By Device: Smartphones, Tablets, Wearable Devices) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030

    Read more...
  • Featured Research Reports

    Wound Care Market (By Product: Advanced Wound Dressing, Surgical Wound Care, Traditional Wound Care, Wound Therapy Device; By Active Wound Care: Biomaterials, Skin-substitutes; By Application: Chronic Wounds, Acute Wounds; By End-use: Hospitals, Specialty Clinics, Home Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2022 – 2030

    Read more...