Implantable Drug Delivery Devices Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Apr 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Implantable Drug Delivery Devices market size is expected to be worth around US$ 41.6 billion by 2030, according to a new report by Vision Research Reports.

The global Implantable Drug Delivery Devices market size was valued at US$ 26.6 billion in 2020 and is anticipated to grow at a CAGR of 10.5% during forecast period 2021 to 2030.

Growth Factors

The growing incidence of chronic diseases, coupled with rising demand for minimally invasive treatment options, is driving the market for implantable drug delivery devices.

Recent advancements in medication administration technologies are expected to fuel market growth over the forecast period. An increase in the adoption of micro-scale implantable devices is one of the key factors fueling growth. These products find application in monitoring improvement in body functions, imaging, and medication administration. They facilitate localized treatment with controlled drug administration and enable targeted delivery of therapeutics to tissues.

These devices help overcome limitations of intravenous, oral, and topical administration routes, thus broadening the growth prospects of the market. In addition, the advent of biodegradable implants enables the targeted delivery of chemotherapeutics to tumor cells without damaging normal cells. Drug releasing implants are also helpful in the treatment of inoperable tumors such as that of the liver, brain, and lungs, due to their location and size. These devices help in reducing tumor size, which enables the surgical removal of tumors. The aforementioned benefits of these devices are expected to impel their adoption over the forecast period.

Manufacturers are focused on developing novel drug delivery devices to gain maximum market share, which has resulted in the launch of various technologically advanced products in the market. For instance, in February 2017, Delpor, Inc., a biotechnology company in U.S., announced the launch of an implantable device for the long-term delivery of therapeutics.

Report Highlights

Drug-eluting stents accounted for the largest share in 2016. Increasing adoption of non-biodegradable implants in hormone regulation, contraception, pain management cancer treatment, and CNS health and abuse deterrence is expected to drive the segment over the forecast period. Manufacturers are focusing on the development of cost-effective technologies and novel medication administration techniques to gain a competitive advantage.

Bioabsorbable stents are predicted to exhibit exponential CAGR throughout the forecast period. This can be attributed to the growing incidence of peripheral and coronary artery diseases, increasing patient-controlled devices, shifting the focus of manufactures on clinical trials related to bioresorbable stents, growing adoption by patients and physicians, and rising demand for minimally invasive surgeries. This is predicted to serve as a lucrative opportunity for bioresorbable stents through 2025.

The growing need for novel birth control products is also anticipated to increase the demand for contraceptive implants in the coming years. These implants, once placed in the body, can help prevent pregnancy for a certain period. This reduces the requirement of consumption of contraceptive pills as well as their associated adverse effects. Hence, the adverse effects of certain existing birth control methods are expected to create growth opportunities for contraceptive implants throughout the forecast period.

In addition, manufacturers are focused on the development of implantable and long-term contraceptive implants and formulations to improve patient compliance and reduce treatment costs as well as adverse effects. Industry rivalry is anticipated to remain moderately high during the forecast period. Key market players are under constant pressure to develop technologically advanced products.

Non-biodegradable devices accounted for the largest share by product in 2016. The majority of these systems are polymeric matrix-based systems. Slow medication diffusion facilitates the sustained release of medication via a delivery system. Matrix systems are also commonly used as non-degradable implants. These systems consist of uniformly distributed therapeutics throughout a solid non-biodegradable polymer.

Biodegradable products are expected to witness exponential growth owing to various associated advantages of associated with it. These advantages include easy fabrication and absorption and excretion of inter-polymers used in biodegradable devices, which alleviates the need for surgical removal such as that in the case of non-biodegradable products. Other advantages are greater acceptance, higher patient compliance, and positive outcomes, which are anticipated to fuel demand further.

Biodegradable materials are increasingly employed in ocular implants. These systems facilitate sustained-release and high systemic dose administration, thus increasing exposure of ocular tissues to medication. Lacrisert, Surodex, and Ozurdex are some examples of biodegradable implants. In addition, biodegradable polymers are used as drug carriers to facilitate localized and sustained delivery of drugs.

Diffusion held a dominant share by technology in the implantable drug delivery devices market in 2016. Diffusion technology is used for delivering a greater volume of therapeutics for the treatment of chronic diseases that need higher therapy administration rates.

Osmotic held the second-largest share in the market. This can be attributed to the adoption of osmotic technology in a wide range of applications such as dentistry, insulin delivery, cancer, anticoagulation, and narcotics. Due to constant and uninterrupted therapeutics release features of these systems, they have been extensively employed in pain management in the past few years.

Magnetic implants are expected to witness constant growth throughout the forecast period owing to their associated benefits. The various benefits of these systems, when compared to traditional drug delivery devices, are medication administration at a microvascular level and higher efficiency in in vitro targeting. These systems are extensively used in the delivery of insulin, antibiotics, anti-tumor agents, and fibrinolytic agents.

Cardiovascular applications held the dominant share in 2016. The substantial share attained by this segment is a consequence of the increase in patient population suffering from cardiovascular diseases, which drives the clinical urgency to develop advanced devices. As a result, global players have developed bioabsorbable stents that are gradually absorbed and excreted by the body.

High adoption of drug-eluting stents for the treatment of cardiovascular conditions is also responsible for the segment’s high growth potential. Other key contributing factors are higher inclination for minimally invasive surgeries. In 2017, Reva Medical, Inc. announced the CE mark approval for Fantom, which is a sirolimus-eluting bioresorbable coronary stent.

The others segment includes multiple sclerosis and rheumatoid arthritis. The increasing prevalence of multiple sclerosis is a primary growth driver of this segment. Multiple sclerosis is considered to be one of the most common causes leading to non-traumatic disability. Around 2.5 million people around the world are estimated to be suffering from this disorder. According to data published by the CDC, more than 400,000 patients in the U.S. have been diagnosed with this condition, with an average increase of 200 cases per week. The average age of disease onset is 30 to 33 years, with only 10.0% of the people being diagnosed after the age of 50.

Contraception held the second-largest market share in 2016, which can be attributed to the rising need to control population growth. A significant increase in the number of initiatives led by public and private organizations to promote awareness about available measures to help avoid unintended pregnancies can also be attributed to its growth. These initiatives are also aimed at enhancing sexual health services and encouraging people to use contraceptives.

North America held the largest share in the market in 2016 as a consequence of extensive new development activities undertaken by leading players. Growing disease burden across this region has also resulted in high clinical urgency to adopt these devices. Asia Pacific is anticipated to exhibit an exponential CAGR during the forecast period, attributed to steadily growing healthcare spending as well as awareness levels with respect to the benefits of implantable drug delivery devices. Improving regulatory policies that ensure high safety standards and healthcare infrastructure quality are further anticipated to broaden the scope for growth in this region.

Key Players

Medtronic; Boston Scientific Corporation; Abbott Laboratories; Allergan; Merck & Co., Inc.; Bausch and Lomb Incorporated; Bayer AG

Market Segmentation

  • Product Outlook

    • Contraceptive Implants

    • Spinal Implants

    • Brachytherapy Seeds

    • Drug-Eluting Stents

    • Bio-absorbable Stents

    • Intraocular Stents

    • Infusion Pumps

    • Others

  • Type Outlook

    • Biodegradable

    • Non-biodegradable

  • Technology Outlook

    • Diffusion

    • Osmotic

    • Magnetic

    • Others

  • Application Outlook

    • Contraception

    • Ophthalmology

    • Cardiovascular

    • Diabetes

    • Oncology

    • Autoimmune Diseases

    • Others

  • Regional Outlook

    • North America

      • The U.S.

      • Canada

    • Europe

      • The U.K.

      • Germany

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

The Implantable Drug Delivery Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Implantable Drug Delivery Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Implantable Drug Delivery Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Implantable Drug Delivery Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Implantable Drug Delivery Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Implantable Drug Delivery Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Implantable Drug Delivery Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Implantable Drug Delivery Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Implantable Drug Delivery Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Implantable Drug Delivery Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Implantable Drug Delivery Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Implantable Drug Delivery Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Implantable Drug Delivery Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Implantable Drug Delivery Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Implantable Drug Delivery Devices market. These factors have benefited the growth of the global market for Implantable Drug Delivery Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Implantable Drug Delivery Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Implantable Drug Delivery Devices are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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