Implantable Drug Delivery Devices Market Growth & Trends
The global implantable drug delivery devices market size is expected to reach USD 47.01 billion by 2030, registering to grow at a CAGR of 8.2% from 2024 to 2030 . 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.
Implantable Drug Delivery Devices Market Report Highlights
- By product, drug-eluting stents held a dominant share in the market in 2023, 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 the increase in incidence of peripheral and coronary artery diseases
- On the basis of type, the non-biodegradable segment held the largest share in 2023, 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 a significant increase in adoption as it offers better patient outcomes and acceptability
- 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 2023 owing to the 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.
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- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Implantable Drug Delivery Devices Market Variables, Trends, & Scope
Chapter 4. Implantable Drug Delivery Devices Market: Product Estimates & Trend Analysis
Chapter 5. Implantable Drug Delivery Devices Market: Type Estimates & Trend Analysis
Chapter 6. Implantable Drug Delivery Devices Market: Technology Estimates & Trend Analysis
Chapter 7. Implantable Drug Delivery Devices Market: Application Estimates & Trend Analysis
Chapter 8. Implantable Drug Delivery Devices Market: Regional Estimates & Trend Analysis
Chapter 9. Competitive Landscape
Companies Mentioned
- Medtronic
- Boston Scientific Corporation
- Allergan
- Merck & Co., Inc.
- Bausch and Lomb Incorporated
- Bayer AG
- Abbott
- Teleflex Incorporated
- Varian Medical Systems, Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 100 |
| Published | August 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 27.2 Billion |
| Forecasted Market Value ( USD | $ 47.01 Billion |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
