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 consist of a drug reservoir surrounded by a polymer or a drug polymer mixture. When inserted into a desired area in the body, the drug is released at a pre-determined rate as the polymer degrades. Implantable drug delivery devices offer a number of advantages over conventional oral or parenteral dosage forms. It allows site specific drug administration where a drug is most needed.
This allows significant lower doses of drugs, which minimize potential side effects. Furthermore, implantable devices allow for sustained release of a therapeutic agent. In addition, treatment schedule associated with an implantable device is generally less burdensome than pills or injections.
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 market.
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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.
KEY BENEFITS FOR STAKEHOLDERS
This report entails a detailed quantitative analysis of the current market trends from 2019 to 2027 to identify prevailing opportunities along with strategic assessment of the global Implantable Drug Delivery Devices market.
Market size and estimations are based on a comprehensive analysis of end users, developments, and services in the industry.
An in-depth analysis based on region assists to understand the regional market and facilitates strategic business planning.
Developmental strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
KEY MARKET SEGMENTS
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
– Ambulatory Surgery Centers
– North America
o Rest of Europe
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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
OTHER MARKET PLAYERS
– DSM Biomedical
– Alimera Sciences
– Eyepoint Pharmaceuticals
– Delpor Inc.
– 3M Company