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2020
Implantable Drug Delivery Devices Market

Implantable Drug Delivery Devices Market

by Material (Silicon and Others), Product Type (Implantable Drug Eluting Stents, Implantable Contraceptive Drug Delivery Devices, Implantable Intraocular Drug Delivery Devices, Implantable Brachytherapy Seeds Devices, and Implantable Drug Delivery Pump Devices) and End User (Hospitals, Ambulatory Surgery Center, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2027
Update Available On-Demand

Report Code: A00350
Pages: 219
Oct 2020 | 10679 Views
Author(s) : Trupti W, Smita N , Onkar S
Tables: 121
Charts: 48
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COVID-19

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The global implantable drug delivery devices market was valued at $10,091.9 million in 2019, and is projected to reach $13,211.8 million by 2027 at a CAGR of 8.0% from 2020 to 2027. 

Implantable drug delivery devices are the medical devices that enable site specific drug administration. It also helps in minimizing doses of drug 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, owing to site specific and sustained release therapeutic action of implantable devices, which further minimizes the side-effects associated with the drug. In addition, treatment schedule associated with an implantable device is generally less burdensome than pills or injections.

Implantable-Drug-Delivery-Devices-Market,-2020-2027

The COVID-19 outbreak that started from Wuhan city of China has now wide spread globally. Almost every nation is dealing with the outbreak. Most markets are dropping down as COVID-19 outbreak has negatively affected various healthcare related markets. This pandemic is expected to present growth opportunities for the implantable drug delivery devices market in the future. According to the World Heart Federation, 2020, elder people above the age of 60 years and people suffering from underlying medical conditions such as cardiovascular disease, hypertension, diabetes, chronic respiratory disease, and cancer are more prone to coronavirus infection than younger population. Furthermore, according to the World Health Organization (WHO), in April 2, 2020, it was reported that in Europe, 95% of the coronavirus infection was recorded in population older than 60 years, while more than 50% infection was recorded in population of 80 years and above. In addition, to protect the population from coronavirus infection, people should stay away from all containment zones including hospitals. This can be possible by implanting drug delivery devices in patients, which adds an advantage of not personally visiting hospitals for follow-ups or treatment procedures as implantable drug delivery devices offer long term drug delivery. Therefore, the COVID-19 pandemic is expected to drive the implantable drug delivery devices market growth during the forecast period.

Growth of the implantable drug delivery devices market is driven by rise in prevalence of chronic diseases across the globe, increase in demand for minimally invasive drug delivery devices, and unwanted pregnancies over a period. However, possibility of implanted device failures, and stringent government regulations impede the market growth. Conversely, collaboration activities among leading market players are expected to provide lucrative growth opportunities for the implantable drug delivery devices market.

Implantable Drug Delivery Devices Market
By Product Type

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Implantable drug iluting stents segment holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.

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The implantable drug delivery devices market is segmented into material, product type, end user, and region. By material, the market is divided into silicon and others. On the basis of product type, implantable drug eluting stents, implantable contraceptive drug delivery devices, Implantable intraocular drug delivery devices, implantable brachytherapy seeds devices, and implantable drug delivery pump devices. By end user, it is classified into hospitals, ambulatory surgery centers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Product type segment review

By product type, the implantable drug eluting stents segment accounted for the largest share in 2019. Rise in adoption of implantable products such as drug-eluting stents in coronary artery disease is expected to drive the implantable drug eluting stents market during the forecast period. However, the implantable contraceptive drug delivery devices segment is expected to grow at the highest CAGR from 2020 to 2027.

Implantable Drug Delivery Devices Market
By End User

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Hospital Segment is projected as one of the most lucrative segment.

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North America accounted for the largest share of revenue in 2019, and is anticipated to maintain its dominance from 2020 to 2027, owing to increase in diseases burden across the region, which has also resulted in high clinical urgency to adopt these devices, and numerous developments related to implantable drug delivery devices. However, Asia-Pacific is expected to register highest CAGR during the forecast period, owing to surge in healthcare expenditure as well as awareness levels with respect to benefits of implantable drug delivery devices.

Implantable Drug Delivery Devices Market
By Region

2027
North America 
Europe
Asia-pacific
Lamea

Asia Pacific region would exhibit the highest CAGR of 9.1% during 2020-2027.

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Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the global implantable drug delivery devices market with current trends and future estimations from 2019 to 2027 to elucidate the imminent investment pockets.
  • Comprehensive analysis of factors that drive and restrict the implantable drug delivery devices market growth is provided.
  • Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
  • A deep dive analysis of various regions provides insights that would allow companies to strategically plan their business moves.
  • Key players are profiled and their strategies are analysed thoroughly to understand the competitive outlook of the implantable drug delivery devices market.

Implantable Drug Delivery Devices Market Report Highlights

Aspects Details
BY MATERIAL
  • Silicon
  • Others
BY PRODUCT TYPE
  • Implantable Drug Eluting Stents
  • Implantable Contraceptive Drug Delivery Devices
  • Implantable Intraocular Drug Delivery Devices
  • Implantable Brachytherapy Seeds Devices
  • Implantable Drug Delivery Pump Devices
BY END USER
  • Hospitals
  • Ambulatory Surgery Centers
  • Others
BY REGION
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Australia, Japan, India, China, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players ABBOTT LABORATORIES, ABBVIE INC., Bayer AG., BAUSCH HEALTH COMPANIES INC., BIOTRONIK, INC., BOSTON SCIENTIFIC CORPORATION, MEDTRONIC PLC., MERCK & CO., INC., TELEFLEX INCORPORATED, TERUMO CORPORATION
 

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This section provides opinions of CXOs of key companies operating in the implantable drug delivery devices industry. According to them, the adoption of implantable drug delivery devices is expected to increase owing to rise in chronic diseases, medical procedures, high demand for less painful and minimally-invasive device types, and rise in number of geriatric populations across the globe. Moreover, factors such as unwanted pregnancies over a period and surge in affordability in developing economies are projected to supplement the market growth. 

However, stringent government regulations for approval of drug delivery devices and ignorance of new and effective drug delivery devices are expected to hinder the market growth. In addition, use of implantable drug delivery devices is highest in North America, owing to rise in adoption of advanced implantable drug delivery products and high expenditure by governments on healthcare, followed by Europe and Asia-Pacific. In addition, implantable drug delivery device providers and distributors focus to expand their presence in the emerging economies, which is anticipated to drive the market growth.
 

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FREQUENTLY ASKED QUESTIONS?

A. The total market value of Implantable Drug Delivery Devices Market is $10,091.9 million in 2019.

A. The forcast period for Implantable Drug Delivery Devices Market is 2020 to 2027

A. The market value of Implantable Drug Delivery Devices Market in 2020 is $7,690.21million.

A. The base year is 2019 in Implantable Drug Delivery Devices Market

A. Top companies such as, Abbott Laboratories, AbbVie Inc, Bayer AG, Bausch Health Companies Inc., Biotronik, Inc., Boston Scientific Corporation, Medtronic Plc, Merck & co., Inc., Teleflex Incorporated, and Terumo Corporation.

A. Implantable drug eluting stents segment segment is the most influencing segment. Rise in adoption of implantable products such as drug-eluting stents in coronary artery disease is expected to drive the implantable drug eluting stents market during the forecast period.

A. The major factor that fuels the growth of the Implantable Drug Delivery Devices market includes rise in prevalence of chronic diseases across the globe, increase in demand for minimally invasive drug delivery devices, and unwanted pregnancies over a period.

A. No, there is no value chain analysis provided in the Implantable Drug Delivery Devices Market report

A. Drug delivery refers to approaches, formulations, technologies, and systems for transporting a pharmaceutical compound in the body some time based on nanoparticles as needed to safely achieve its desired therapeutic effect.

A. Yes, Implantable Drug Delivery Devices companies are profiled in the report.

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