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Implantable Drug Delivery Devices Market (Product Type - Coronary Drug-eluting Stent, Bio-absorbable Stent, Implantable Contraceptive Devices, Implantable Intraocular Devices, Drug Infusion Pumps, and Brachytherapy Seeds; Technology - Bio-degradable, Non-biodegradable, and Smart Pills; Application - Ophthalmology, Cardiology, Contraceptive, Oncology, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Implantable Drug Delivery Devices Market (Product Type - Coronary Drug-eluting Stent, Bio-absorbable Stent, Implantable Contraceptive Devices, Implantable Intraocular Devices, Drug Infusion Pumps, and Brachytherapy Seeds; Technology - Bio-degradable, Non-biodegradable, and Smart Pills; Application - Ophthalmology, Cardiology, Contraceptive, Oncology, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2028

Report Code: HC0903 Category: Healthcare & Medical Devices Published: July, 2022

A recent report published by Infinium Global Research on the implantable drug delivery devices market provides in-depth analysis of segments and sub-segments in the global as well as regional implantable drug delivery devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional implantable drug delivery devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global implantable drug delivery devices market. According to the report, the global implantable drug delivery devices market is projected to grow at a CAGR of nearly 8% over the forecast period of 2022-2028. 

Market Insight

The Global Implantable Drug Delivery Devices Market was valued at nearly USD 16 Billion in 2022 and is expected to reach about USD 25 Billion in 2028, with a CAGR of nearly 8% during the forecast period. The implantable drug delivery devices are the devices that are utilized to administer drugs and fluids to the body, without the repeated insertion of needles. Drug delivery is the process of administering a pharmaceutical substance, to realize therapeutic effects, in humans or animals. Consistent intervention by government health organizations to make sure high patient safety standards is one of the most important factors contributing to growth. Rising awareness about the provision of high-quality and safer products also aids in impelling overall demand. Growing preference for drug-device combination products as a result of higher efficacy also is a key contributing factor. Furthermore, with the rise in the burden of chronic diseases, the massive patient population increases the number of surgeries and hence drives the implantable drug delivery devices market. 


Implantable Drug Delivery Devices Market


The rising number of coronary heart diseases, glaucoma, and cancer cases worldwide will primarily drive the demand for the global implantable drug delivery devices market. Primarily driven by the increasing population, rise in the number of cancer cases, a growing number of cardiology, ophthalmology abnormalities, the trend of contraception, and technological advancements. According to the World Health Organization (WHO), around 30% of the deaths occurred from cardiovascular disease (particularly coronary heart disease) worldwide and the number of cases has been rapidly growing. Additionally, consistent efforts by the European Union and U.S. FDA to establish guidelines and policies to address challenges associated with implants and facilitate proper and consistent regulation are widening growth prospects for the market. Merger and acquisition activities among leading service providers will enlighten the opportunities for the same market for growth over the forecast period. Nevertheless, the risk of infection, risk of overdose/under-dose due to the technical difficulty of the devices, and the high cost will likely restrain the growth of the market. 

Most companies are reducing their production because the COVID-19 outbreak has negatively affected various healthcare-related markets. This pandemic is anticipated to present growth opportunities for the implantable drug delivery devices market in the future. As per the World Heart Federation, 2020, elder people above the age of 60 years and other people tormented by underlying medical conditions like upset, hypertension, diabetes, chronic respiratory disorder, and cancer are more at risk of coronavirus infection than the younger population. This could be possible by implanting drug delivery devices in patients, which adds a bonus of not personally visiting hospitals for follow-ups or treatment procedures as implantable drug delivery devices offer long-term drug delivery. These factors are expected to influence the expansion of the market during the forecast period. 

The global implantable drug delivery devices market is segmented into the Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Among the regions, North America is anticipated to be the fastest growing region in the Implantable Drug Delivery Devices Market during the forecast period. The rising number of cancer cases is another factor that propels the growth of the implantable drug delivery devices market. According to GLOBOCAN, the incidence of cervical cancer is significantly high in the North American region as compared to the Asia-Pacific region. But high diagnosis and treatment rate of cervical cancer in the North American region lower the rate of growth of cervical cancer cases in North America. On the other hand, the low cervical cancer screening rate in the Asia-Pacific region leads to the rapid increment of cases of cervical cancer in the Asia-Pacific region. 

Segment Covered

The report on the global implantable drug delivery devices market covers segments such as product type, technology, and applications. On the basis of product type, the sub-markets include coronary drug-eluting stent, bio-absorbable stent, implantable contraceptive devices, implantable intraocular devices, drug infusion pumps, and brachytherapy seeds. On the basis of technology, the sub-markets include bio-degradable, non-biodegradable, and smart pills. On the basis of applications, the sub-markets include ophthalmology, cardiology, contraceptive, oncology, and others. 

Companies Profiled:

The report provides profiles of the companies in the market such as Allergan, Boston Scientific Corporation, Delpor, Inc., Eyepoint Pharmaceuticals, Alimera Sciences, Mecrk & Co., Inc., Abbott Laboratories, Valeant Pharmaceuticals, Medtronic, and TELEFLEX INCORPORATED. 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the implantable drug delivery devices market. Moreover, the study highlights current market trends and provides forecasts from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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