The global implantabledrug delivery devices market size is expected to reach USD 31.6
billion by 2025, according to a new report by Grand View Research, Inc.,
registering a 7.5% CAGR during the forecast period. 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. Increase in 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, advent of
biodegradable implants enables targeted delivery of chemotherapeutics to tumor
cells without damaging normal cells. Drug releasing implants are also helpful
in treatment of inoperable tumors such as that of liver, brain, and lungs, due
to their location and size. These devices help in reducing tumor size, which
enables 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 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 long-term delivery of
therapeutics.
Full Research Report On implantable drug delivery
devices market Analysis:
www.grandviewresearch.com/industry-analysis/implantable-drug-delivery-devices-market
www.grandviewresearch.com/industry-analysis/implantable-drug-delivery-devices-market
Further key findings from the report suggest:
·
By product, drug-eluting stents
held a dominant share in the market in 2016, 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 increase in incidence of peripheral and coronary artery
diseases
·
On the basis of type, the
non-biodegradable segment held the largest share in 2016, 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 significant increase in
adoption as it offers better patient outcomes and acceptability
·
By application, cardiovascular
accounted for a substantial share in 2016 due to increasing adoption of
drug-eluting and bio-absorbable stents for management of cardiovascular
diseases. 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 2016 owing to 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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Grand View Research At: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the
global implantable drug delivery devices market on the basis of product, type,
technology, application, and region:
Implantable Drug Delivery
Devices Product Outlook (Revenue, USD Million, 2014 - 2025)
·
Contraceptive Implants
·
Spinal Implants
·
Brachytherapy Seeds
·
Drug-eluting Stents
·
Bioabsorbable Stents
·
Intraocular Stents
·
Infusion Pumps
·
Others
Implantable Drug Delivery
Devices Type Outlook (Revenue, USD Million, 2014 - 2025)
·
Biodegradable
·
Non-biodegradable
Implantable Drug Delivery
Devices Technology Outlook (Revenue, USD Million, 2014 - 2025)
·
Diffusion
·
Osmotic
·
Magnetic
·
Others
Implantable Drug Delivery
Devices Application Outlook (Revenue, USD Million, 2014 - 2025)
·
Contraception
·
Ophthalmology
·
Cardiovascular
·
Diabetes
·
Oncology
·
Autoimmune Diseases
·
Others
Implantable Drug Delivery
Devices Regional Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
o
South Africa
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About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/