Implantable Drug Delivery Market: Global Industry Analysis and Forecast (2022-2029)

Implantable Drug Delivery Market is anticipated to reach US$ 45.67 Bn. by 2029 from US$ 24.67 Bn. in 2021 at a CAGR of 8 % during a forecast period.

Implantable drug delivery systems are medical devices that allow for site-specific medication administration. It also allows for the decrease of medicine dosages to reduce potential negative effects. Because of the site-specific and sustained release therapeutic activity, implantable devices are gaining attention in comparison to the conservative oral and parenteral dose forms. Implantable devices, in turn, lessen the side effects associated with the medicine.

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Implantable Drug Delivery Market Dynamics:
Over the forecast period, the Implantable Drug Delivery Market is likely to be driven by an increase in demand for less invasive medical treatments, as well as the rising incidence of chronic illnesses and other medical concerns. Government attempts to raise awareness and financing for the pharmaceutical and biotech sectors are also key market drivers. Additionally, the market is expected to be fuelled by the expanding elderly population and the launch of new and more effective Implantable Drug Delivery devices throughout the forecasted period.

Implantable drug delivery devices provide various advantages over traditional oral or parenteral dose forms, including protection from gastrointestinal tract denaturation and increased absorption across the intestinal or stomach wall. Second, to have the intended therapeutic impact, the volume of medicine reaching the target should be large. Another factor that increases patient acceptance and compliance over traditional drug administration is biodegradable systems, which have gained traction over non-biodegradable delivery systems because the inert polymer used in device fabrication eventually gets absorbed and excreted by the body, eliminating the need for surgical implant removal after therapy. Over the forecast period, these factors are likely to drive market growth.

There are several constraints and problems that might hamper market expansion. Market limitations are likely to include things like the likelihood of implanted device malfunctions and severe regulatory controls.
Implantable Drug Delivery Market Segmentation Analysis:
By Product Type, Because of the rising incidence of peripheral and coronary artery diseases, increasing patient-controlled devices, shifting effort of manufacturers on clinical trials related to bioresorbable stents, growing adoption by patients and physicians, and rising demand for minimally invasive surgeries, the bioabsorbable stents market is expected to grow at an exponential CAGR of xx percent over the forecast period.

In the future periods, the increased demand for innovative birth control methods is expected to drive up demand for contraceptive implants. Once implanted, these devices can help prevent pregnancy for a while. This lowers the need for contraceptive pills, as well as the negative side effects that come with them. As a result, the negative consequences of several existing birth control techniques are expected to fuel demand for contraceptive implants throughout the forecast period.

By Application, Cardiovascular applications are expected to account for the highest share of the market throughout the forecast period, owing to a growing patient population suffering from cardiovascular disorders, which increases the clinical urgency to create better devices. As a result, worldwide leading players have created bio-absorbable stents that are gradually absorbed and expelled by the body.
Multiple sclerosis and rheumatoid arthritis are included in the other part. This segment's key growth driver is the rising prevalence of multiple sclerosis. Multiple sclerosis is thought to be one of the primary causes of non-traumatic impairment.

This condition is believed to affect roughly 2.5 million people throughout the world. More than 400,000 individuals have been diagnosed with this ailment in the United States, according to CDC data, with an average rise of 200 cases each week. Only 10.0 percent of patients are diagnosed after the age of 50, with the typical age of onset being 30 to 33 years.
Implantable Drug Delivery Market Regional Insight
Due to increased research & development efforts in the area, North America is likely to have a dominating position in the implanted drug delivery devices market. The medical device business in North America is a highly regulated sector of the economy. Several studies imply that US implanted device makers can keep their costs high owing to structural constraints such as expensive regulatory approval processes and patent protections. As a result, companies are having difficulty introducing new products in the United States.

During the forecast period, Asia Pacific is expected to grow at an exponential rate, owing to rising healthcare spending and increased awareness of the benefits of implanted drug delivery devices. Improving regulatory rules that maintain high safety standards and the quality of healthcare facilities are also anticipated to grow the region's economic potential.

China and India come in second and third, respectively, in the worldwide market for implanted drug delivery systems after North America and Europe. Due to increased awareness and increased government healthcare budgets, India and China are expected to demonstrate lucrative growth in the worldwide market in the Asia Pacific region. The favourable environment and availability are another cause for the rapid growth of the implanted medication delivery market in India and China.
Report Objectives:
• Landscape analysis of the Implantable Drug Delivery Market
• competitive benchmarking
• Past and current status of the industry with the forecasted market size and trends
• Evaluation of potential key players that include market leaders, followers, and new entrants
• Technology trends
• Potential impact of micro-economic factors of the market
• External and Internal factors affecting market have been analysed

The report also helps in understanding the Implantable Drug Delivery Market dynamics, structure by analysing the market segments and project the Implantable Drug Delivery Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Implantable Drug Delivery Market make the report investor’s guide.
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Implantable Drug Delivery Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2021-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 24.67 Bn.


Forecast Period 2022 to 2029 CAGR:
8 %
Market Size in 2029:
US $ 45.67 Bn.


 Segments Covered:
by Product Type
• Implantable Bio-Absorbable Stents
• Implantable Contraceptive Drug Delivery Devices
• Implantable Intraocular Drug Delivery Devices
• Implantable Coronary Drug-Eluting Stents
• Implantable Brachytherapy Seeds
• Implantable Drug Infusion Pumps


by Technology
• Biodegradable implantable drug delivery device technology
• Non-biodegradable implantable drug delivery device technology


by Application
• Cardiovascular
• Birth control & contraception
• Ophthalmology
• Oncology
• Others



Implantable Drug Delivery Market, by Region
• North America
• Asia pacific
• Europe
• Middle East and Africa
• South America
Implantable Drug Delivery Market Key Players
• Bayer
• Boston Scientific
• Medtronic
• Merck&Co. Inc.
• Allergan Inc.
• Bausch and Lomb, Inc.
• Ithetis
• Nucletron
• Genetech Inc.
• Theragenics
• Psivida
• Kinamed Inc.
• K2M Inc.
• Mako Surgical Corp.
• Varian Medical System
• Arrow International
• Eckert Ziegler
• Elekta
• JVS
• Abbottamong
• Delpor Inc.
• 3M Company
• DSM Biomedical
• Alimera Sciences
Frequently Asked Questions
1. What is the projected market size & growth rate of Implantable Drug Delivery Market?
Ans- Implantable Drug Delivery Market was valued at USD 24.67 billion in 2021 and is projected to reach USD 45.67 billion by 2029, growing at a CAGR of 8 % during the forecast period.

2. What are the key driving factors for the growth of Implantable Drug Delivery Market?
Ans- Over the forecast period, the Implantable Drug Delivery Market is likely to be driven by an increase in demand for less invasive medical treatments, as well as the rising incidence of chronic illnesses and other medical concerns.

3. Which Region accounted for the largest Implantable Drug Delivery Market share?
Ans- Due to increased research & development efforts in the area, North America is likely to have a dominating position in the implanted drug delivery devices market.

4. What makes Asia Pacific a Lucrative Market for Implantable Drug Delivery Market?
Ans- Asia Pacific is expected to grow at an exponential rate, owing to rising healthcare spending and increased awareness of the benefits of implanted drug delivery devices.

5. What are the top players operating in Implantable Drug Delivery Market?
Ans- Bayer, Boston Scientific, Medtronic, Merck&Co. Inc., Allergan Inc., Bausch and Lomb, Inc., and Ithetis.