The global implantable drug 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.
Browse full research report on Implantable
Drug Delivery Devices Market:
https://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.
Browse request sample of this report by
Grand View Research:
https://www.grandviewresearch.com/industry-analysis/implantable-drug-delivery-devices-market/request/rs1
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
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Middle East &
Africa
- South Africa
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.
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