Global Implantable Drug Delivery Devices Market by Technology (Diffusion, Osmotic, Magnetic), by Type (Non-biodegradable, Biodegradable) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global implantable drug delivery device market was valued at USD 16.6 million in 2016. It is expected to grow at a profitable CAGR of 7.5% in the future. Effective medication delivery is essential due to rising incidences of chronic conditions such as diabetes and cancer. Cancer Research UK states that cancer is the leading cause of death worldwide. This has made it more urgent to develop advanced drug delivery systems.

One of the main factors driving growth is consistent intervention by government health agencies to ensure patient safety standards. The availability of safer, higher quality products is also increasing demand. A key contributor is the growing preference for drug-device combinations products that have higher efficacy. The market is seeing increased growth due to the consistent efforts of the U.S. FDA and the European Union to create guidelines and policies that address the challenges associated with implant regulation and ensure proper and consistent regulation. To ensure safety, the U.S. FDA established the Office of Combination Products.

The future is expected to see growth due to recent improvements in medication administration techniques. One of the main factors behind the recent growth is the increasing popularity of microscale implantable medical devices that can be used for multiple purposes, including diagnosis and therapy. These devices can monitor the body's functions, facilitate imaging and therapy, and stimulate tissues and organs to treat movement disorders. The development of Implantable Drug Delivery Systems has enabled targeted therapy with controlled medication delivery. This is expected to increase the market's growth prospects.

This market is driven by a rising demand for minimally invasive procedures due to improved patient outcomes. These techniques are expected to be in high demand throughout the forecast period due to their lower pain, higher cost-efficiency, safety and efficacy. Physicians are increasingly turning to IDDS because of the shorter recovery times and quicker wound closure than traditional procedures. IDDS is becoming more popular due to the growing desire for a natural, more beautiful appearance in all ages. A further advantage is the lower blood loss after minimally invasive surgery. These benefits will continue to drive the market in the future.

Product Insights

The largest share of 2016's drug-eluting devices was held by stents. The segment is expected to grow over the forecast period due to increasing adoption of non-biodegradable implant in hormone regulation, contraception, and pain management cancer treatment. To gain a competitive edge, manufacturers are working to develop cost-effective technologies as well as novel medication administration methods.

The forecast period sees a rapid increase in the CAGR of bioabsorbablestents. This is due to increasing incidences of peripheral and coronary diseases, increasing use of patient-controlled devices, shift in the focus of manufacturers on clinical trials related bioresorbablestents, rising adoption by patients, physicians, and growing demand for minimally invasive surgery. This will be a huge opportunity for bioresorbables stents up to 2025.

In the next few years, the growing demand for new birth control products will also increase the demand for contraceptive implant. Implants can be used to prevent pregnancy after they are placed into the body. This decreases the need for contraceptive pills and their adverse effects. The adverse effects of some birth control methods will likely lead to increased demand for contraceptive implant during the forecast period.

Manufacturers are also focused on developing implantable and long-term contraceptive devices and formulations that will improve patient compliance, reduce treatment costs, and minimize adverse effects. The industry rivalry is expected to remain moderately high over the forecast period. Market leaders are constantly under pressure to create technologically advanced products.

Type Insights

In 2016, the largest percentage of products was made up of non-biodegradable items. These systems are mainly polymeric matrix-based. Slow medication diffusion allows for sustained medication release via a delivery system. Non-degradable implants are also common with matrix systems. These systems are composed of uniformly distributed therapeutics within a solid, non-biodegradable plastic.

Due to numerous associated benefits, biodegradable products will experience exponential growth. These benefits include the ease of fabrication, absorption, and excretation of inter-polymers in biodegradable devices. This reduces the need to perform surgery as in the case with non-biodegradable items. There are other benefits, such as greater acceptance and patient compliance and positive outcomes. These are expected to increase demand.

Ocular implants are becoming more popular with biodegradable materials. These systems allow for sustained-release and high systemic dosage administration. This increases the exposure of ocular tissues. Biodegradable implants include Surodex and Ozurdex. Biodegradable polymers can also be used to transport drugs and facilitate the delivery of drugs locally and sustainably.

Technology Insights

In 2016, Diffusion dominated the market for implantable drug delivery systems. Diffusion technology allows for greater delivery of therapeutics to chronic diseases, which require higher administration rates.

Osmotic occupied the second-largest market share. Osmotic technology has been used in many applications, including dentistry, cancer treatment, insulin delivery, anticoagulation and narcotics. These systems have been widely used in pain management for the last few years due to their continuous and uninterrupted therapeutics release.

Due to their many benefits, magnetic implants will continue to grow throughout the forecast period. These systems offer many advantages over traditional drug delivery devices. They can administer medication at a microvascular level and are more efficient in in vitro targeting. These systems are widely used for the delivery of insulin and other anti-tumor drugs, as well as fibrinolytic and fibrinolytic substances.

Application Insights

In 2016, the largest share was held by cardiovascular applications. This segment held the dominant share in 2016. It is due to the rise of patients suffering from cardiovascular disease, which makes it imperative to develop new devices. Global players have created bioabsorbable, body-removable stents.

The segment's high growth potential is due to the widespread adoption of drug-eluting devices for treatment of cardiovascular conditions. A higher willingness to undergo minimally invasive surgery is another key factor. Reva Medical, Inc. approved Fantom, a bioresorbable sirolimus-eluting coronary stent, in 2017.

Multiple sclerosis and Rheumatoid Arthritis are two examples of the other segments. This segment is experiencing a major growth spurt due to the increasing incidence of multiple sclerosis. Multiple sclerosis is a leading cause of non-traumatic disability. This disorder is estimated to affect 2.5 million people worldwide. The CDC has published data showing that more than 400,000 people in the United States have been diagnosed with the condition. This average increases to 200 per week. The average age at which the disease begins is between 30 and 33 years. Only 10.0% of those diagnosed with the condition are older than 50.

Contraception commanded the second largest market share in 2016. This can be attributed largely to the growing need to manage population growth. Its growth can also be attributed in part to the significant rise in initiatives by both public and private organizations to raise awareness about the available options to prevent unintended pregnancies. These initiatives also aim to improve sexual health services and encourage contraceptives use.

Regional Insights

North America accounted for the largest market share in 2016, due to extensive development by the leading players. The growing disease burden in this region has made it urgent for patients to use these devices. Asia Pacific is expected to experience an exponential CAGR over the forecast period. This can be attributed to both steadily increasing healthcare spending and increased awareness about the benefits of implantable drugs delivery devices. The region's potential for growth is further enhanced by improving regulatory policies to ensure safety standards and quality of the healthcare infrastructure.

Market Share Insights & Key Companies

Medtronic, Boston Scientific Corporation and Abbott Laboratories are some of the market leaders. To gain a larger market share, these players employ extensive sustainability strategies such as new product development and expansion of regional and distribution channels. Market leaders also place a high value on providing economic value and meeting unmet needs. Players can gain an advantage over their competition by focusing on improving manufacturing processes for technologically advanced products.

In October 2017, Boston Scientific Corporation signed an agreement to purchase Apama Medical, Inc. to expand its range of differentiated arrhythmia products. Medtronic plc was also approved by the U.S. FDA in May 2017 and launched Resolute Onyx Drugeluting Stents (DES) in the U.S. to expand its range of coronary stents.

Implantable Drug Delivery Devices Market Report Scope

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and an analysis on industry trends in each sub-segment from 2014 through 2025. Grand View Research has divided the global market for implantable drug delivery systems on the basis product, type, technology, region, and application.

• Product Outlook (Revenue USD Million, 2014-2025)

  • Contraceptive Implants

  • Spinal Implants

  • Brachytherapy seeds

  • Drug-Emulating Stents

  • Bio-absorbable Stents

  • Intraocular Stents

  • Infusion pumps

  • Other

• Type Outlook (Revenue USD Million, 2014-2025)

  • Biodegradable

  • Non-biodegradable

• Technology Outlook (Revenue USD Million, 2014-2025)

  • Diffusion

  • Osmotic

  • Magnetic

  • Other

• App Outlook (Revenue USD Million, 2014-2025)

  • Contraception

  • Ophthalmology

  • Cardiovascular

  • Diabetes

  • Oncology

  • Autoimmune Diseases

  • Other

• Regional Outlook (Revenue USD Million, 2014-2025)

  • 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

These are the most frequently asked questions about this report

b. Global implantable drug delivery device market was valued at USD 20.3 billion in 2019, and is forecast to grow to USD 21.8 billion by 2020.

b. Global implantable drug delivery device market is expected grow at a compound annual rate of 7.5% between 2017 and 2025, reaching USD 31.6 billion in 2025.

b. With a 41.64% share in 2019, North America was the dominant market for implantable drug delivery systems. This is due to the increasing disease burden in the region and the R&D activities of the leading players.

b. Medtronic, Boston Scientific Corporation, Abbott Laboratories, Allergan, Merck & Co., Inc., Bausch and Lomb Incorporated, and Bayer AG are some of the key players in the global market for implantable drug delivery device markets.

b. Market growth is driven by the increasing incidence of chronic conditions like cancer and diabetes, which are creating the need to develop efficient medication delivery technologies.

Up Market Research published a new report titled “Implantable Drug Delivery Devices Market research report which is segmented by Technology (Diffusion, Osmotic, Magnetic), by Type (Non-biodegradable, Biodegradable), By Players/Companies Bausch and Lomb Incorporated, Bayer AG, Allergan, Boston Scientific Corporation, Abbott Laboratories, Inc, Medtronic, Merck & Co”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Implantable Drug Delivery Devices Market Report Segments:

The market is segmented by Technology (Diffusion, Osmotic, Magnetic), by Type (Non-biodegradable, Biodegradable).

Implantable Drug Delivery Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Implantable Drug Delivery Devices Market

Overview of the regional outlook of the Implantable Drug Delivery Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Implantable Drug Delivery Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Implantable Drug Delivery Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Diffusion

                2. Osmotic

                3. Magnetic

                1. Non-biodegradable

                2. Biodegradable

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Implantable Drug Delivery Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Implantable Drug Delivery Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.