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HEALTHCARE & PHARMACEUTICAL

Implantable Drug Delivery Devices Market Segmentation by Product (Contraceptive Implants, Spinal Implants, Brachytherapy Seeds ); by Application; and by End-Users – Global Demand Analysis and Opportunity Outlook 2030

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Extensive insights into the Growth of Implantable Drug Delivery Devices Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • September 2017: Baxter International, announced that they are innovating technologically advanced medication delivery system called Sigma Spectrum, which is a large volume infusion pump.

Global Implantable Drug Delivery Devices Market Highlights 2022-2030

The global implantable drug delivery devices market is expected to grow at a moderate CAGR of ~8% during the forecast period, i.e., 2022-2030. The growth of the market can be attributed to the increasing prevalence of chronic diseases globally, such as cardiovascular diseases, auto-immune diseases, diabetes, and others. Additionally, the growing number of aging populations in various countries has increased the risk of getting chronic diseases. As a result, there is an increasing influx of patients for surgeries using implantable drug delivery devices, which is estimated to boost the market growth. According to World Health Organization (WHO), in 2020, approximately 10 million individuals have died due to cancer, and it has been recognized as the leading cause of death globally. Rising concern among governmental organizations for developing better medical devices to provide high-level safety standards to the patients has created significant growth opportunities for the implantable drug delivery device market over the forecast period. Moreover, the growing preference of the patients for drug delivery device products on the back of its high efficiency has also contributed towards the global market growth. CLICK TO DOWNLOAD SAMPLE REPORT

Implantable Drug Delivery Devices Market

The market is segmented on the basis of products into contraceptive implants, spinal implants, brachytherapy seeds, drug-eluting stents, bio-absorbable stents, intraocular implants, infusion pumps, and others, out of which, the drug-eluting stents segment is expected to dominate the global market during the forecast period, in terms of revenue, on account of increasing implementations of these implants in the medical industry for various indications such as cancer treatment, contraception, hormone regulation, and others.

Based on type, the biodegradable products segment is expected to witness significant growth over the forecast period in the market on the back of the its advantages over non-biodegradable products, which includes easy absorption, fabrication, and excretion of inter-polymers, greater acceptance rate, positive outcome, and others.  

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Implantable Drug Delivery Devices Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia-Pacific region is estimated to exhibit exponential growth over the forecast period, on account of the steadily increasing healthcare expenditure and rising concern & awareness for the development of advanced devices in the region. Additionally, the rising population among Asian countries such as China, India, and others has significantly increased the disease prevalence rate and patient influx in the hospitals and other healthcare service providers, which is expected to further boost the market growth in the region.

Furthermore, in 2022, the market in North America region held the highest shares in the global market, on the back of increasing investments by the private and governmental organizations to develop advanced implantable drug delivery devices owing to the increasing cases of cancer, diabetes, cardiovascular diseases, and others. Additionally, major implantable drug delivery product manufacturers in the North American market have increased the market’s growth.

Global Implantable Drug Delivery Devices Market

The global implantable drug delivery devices market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global implantable drug delivery devices market includes the following segments:

By Products

  • Contraceptive Implants
  • Spinal Implants
  • Brachytherapy Seeds
  • Drug-eluting Stents
  • Bio-absorbable Stents
  • Intraocular Implants
  • Infusion Pumps
  • Others

By Type

  • Biodegradable
  • Non-biodegradable

By Application

  • Contraception
  • Ophthalmology
  • Cardiovascular
  • Diabetes
  • Oncology
  • Auto-immune Diseases
  • Others

By End-User

  • Hospitals
  • Ambulatory Surgical Centers (ASCs)
  • Others

Growth Drivers

  • Emergence of Novel Medical Devices and Products
  • Increasing Incidence of Chronic Diseases

Challenges

  • High Cost of Implantable Drug Delivery Devices
  • Stringent Government Regulations

Top Featured Companies Dominating the Market

  •  Boston Scientific Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Merck & Co., Inc.
  • Medtronic
  • Allergan, Inc.
  • Bayer AG
  • Abbott Laboratories
  • DSM Biomedical
  • Varian Medical Systems, Inc.
  • Teleflex Incorporated
  • Bausch and Lomb Incorporated

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