Market Snapshot
| Study Period: | 2018 - 2026 |
| Base Year: | 2021 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 6.5 % |
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Market Overview
The implantable drug delivery devices market is expected to witness robust growth due to the increasing geriatric population, rise in the number of cancer cases, a growing number of cardiology, ophthalmology abnormalities and the rise in technological advancements. Furthermore with the increase in the burden of chronic diseases the large patient population increases the number of surgeries and hence drives the implantable drug delivery devices market. In addition, the growing preference for drug-device combination products owing to higher efficacy also serves as a key contributing factor.
However, the high cost of devices and surgery costs, low rate of adoption are the few restraining factors of the growth of implantable drug delivery devices market.
Scope of the Report
As per the scope, implantable drug delivery devices are the devices that are used to administer drugs and fluids to the body, without the repeated insertion of needles. Drug delivery is the process of administering a pharmaceutical substance, to achieve therapeutic effects, in humans or animals. Over the past decade, there has been increasing convergence between drug therapies and implantable devices, which include devices such as osmotic pumps and implantable rods, which deliver drugs to specific targeted areas (anticancer agents, hormones, and vaccines).
| By Product Type | |
| Drug Infusion Pumps | |
| Intraocular Drug Delivery Devices | |
| Contraceptive Drug Delivery Devices | |
| Stents | |
| Others |
| By Technology | |
| Biodegradable Implants | |
| Non-biodegradable Implants |
| By Application | |
| Oncology | |
| Cardiovascular | |
| Autoimmune Diseases | |
| Obstetrics and Gynecology | |
| Other Applications |
| Geography | ||||||||
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Key Market Trends
Drug Infusion Pumps Segment is Expected to Hold a Significant Market Share
Infusion pumps are devices that are used to deliver fluids into a patient’s body, in a controlled manner. They are capable of supplying medications such as insulin or other hormones, antibiotics, chemotherapy drugs, and pain relievers. Infusion pumps play an important role in delivering accurate medications in chemotherapy, for diabetics, etc., for the corresponding diseases.
The rising number of diabetes cases and increasing investments in diabetes care and management have helped in the adoption of insulin infusion pumps. Technological advancements, coupled with increasing R&D initiatives on gastrointestinal disorders, cancer, neurological problems, and AIDS, are providing lucrative opportunities for infusion pumps in the market. According to the FDA, in 2017, Baxter’s Sigma Spectrum Infusion pump has been the number one infusion pump in drug library compliance. Sigma Spectrum has a user interface that provides top-quality patient safety margins and has the ability to integrate with leading electronic medical record systems.
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North America Dominates the Implantable Drug Delivery Devices Market
In North America, the medical device industry is a highly regulated sector of the economy. There are several studies that suggest that the US manufacturers of implantable devices can maintain high prices, in part due to structural barriers such as costly regulatory approval processes and patent protections. Therefore, manufacturers face problems in launching new products in the United States.
Hospitals are the primary purchasers of most high-cost implantable devices in the United States, but they have limited bargaining power to negotiate for lower prices. There are millions of Americans being implanted with implantable devices such as artificial hips or cardiac pacemakers, in their bodies. Experts have also estimated that 7.2 million Americans are living with joint implants. However, due to the aging population and the increasing prevalence of chronic conditions, the number of patients adopting implantable devices continues to grow exponentially. During the past year, in the United States, there have been many advancements in technology and medical innovation, which have expanded the types of implantable devices, to include artificial hearts and deep-brain stimulators to control epilepsy.
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Competitive Landscape
The market players are found focusing on new product launches, minimizing the price of the tests in order to gain maximum traction in the global market. Furthermore, market players are concentrating on various growth strategies such as collaborations, acquisitions, partnerships to enhance their market presence. In addition, market leaders are highly focused on delivering economic value and cater to unmet needs.
Major Players
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Demand for Minimally Invasive Procedures
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4.2.2 Emergence of Novel Products
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4.2.3 Increasing Prevalence of Chronic Diseases
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4.3 Market Restraints
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4.3.1 High Cost of Devices
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4.3.2 Stringent Regulatory Requirements
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product Type
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5.1.1 Drug Infusion Pumps
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5.1.2 Intraocular Drug Delivery Devices
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5.1.3 Contraceptive Drug Delivery Devices
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5.1.4 Stents
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5.1.5 Others
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5.2 By Technology
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5.2.1 Biodegradable Implants
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5.2.2 Non-biodegradable Implants
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5.3 By Application
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5.3.1 Oncology
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5.3.2 Cardiovascular
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5.3.3 Autoimmune Diseases
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5.3.4 Obstetrics and Gynecology
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5.3.5 Other Applications
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5.4 Geography
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5.4.1 North America
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5.4.1.1 United States
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5.4.1.2 Canada
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5.4.1.3 Mexico
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5.4.2 Europe
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5.4.2.1 Germany
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5.4.2.2 United Kingdom
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5.4.2.3 France
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5.4.2.4 Italy
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5.4.2.5 Spain
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5.4.2.6 Rest of Europe
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5.4.3 Asia-Pacific
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5.4.3.1 China
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5.4.3.2 Japan
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5.4.3.3 India
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5.4.3.4 Australia
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5.4.3.5 South Korea
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5.4.3.6 Rest of Asia-Pacific
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5.4.4 Middle-East and Africa
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5.4.4.1 GCC
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5.4.4.2 South Africa
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5.4.4.3 Rest of Middle-East and Africa
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5.4.5 South America
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5.4.5.1 Brazil
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5.4.5.2 Argentina
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5.4.5.3 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Allergan PLC
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6.1.2 Boston Scientific Corporation
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6.1.3 Bausch and Lomb Inc.
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6.1.4 Medtronic PLC
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6.1.5 Alcon Inc.
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6.1.6 Teleflex Incorporated
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6.1.7 DSM Biomedical
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6.1.8 Delpor Inc.
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6.1.9 3M Company
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Implantable Drug Delivery Devices Market market is studied from 2018 - 2026.
What is the growth rate of Implantable Drug Delivery Devices Market?
The Implantable Drug Delivery Devices Market is growing at a CAGR of 6.5% over the next 5 years.
Which region has highest growth rate in Implantable Drug Delivery Devices Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Implantable Drug Delivery Devices Market?
North America holds highest share in 2021.
Who are the key players in Implantable Drug Delivery Devices Market?
DSM Biomedical, Delpor Inc., Medtronic, Teleflex Incorporated, 3M Company are the major companies operating in Implantable Drug Delivery Devices Market.
