The global implantable drug delivery devices market size was estimated at USD 16.6 billion in 2016 and is anticipated to exhibit a lucrative CAGR of 7.5% over the coming years. Rise in incidence of chronic conditions, such as cancer and diabetes, is creating need for efficient medication delivery. According to Cancer Research UK, cancer results in highest number of deaths globally, which has raised the clinical urgency to adopt advanced alternatives, such as implantable drug delivery devices.
Consistent intervention by government health organizations to ensure high patient safety standards is one of the major factors contributing toward growth. Rising awareness about availability of high quality and safer products also aids in impelling overall demand. Growing preference for drug-device combination products owing to higher efficacy also serves as a key contributing factor.
Consistent efforts by the European Union and U.S. FDA to establish guidelines and policies to address challenges associated with implants and facilitate proper and consistent regulation are widening growth prospects for the market. For instance, the U.S. FDA has established the Office of Combination Products (OCP) to ensure high safety standards.
Recent advancements in medication administration techniques are expected to fuel growth potential over the coming years. Increasing popularity of microscale implantable devices with multiple applications, such as therapy and diagnosis, is one of the key factors attributed to the growth attained over the past years. These devices help monitor body functions and facilitate imaging and therapy as well as stimulate tissues or organs in movement disorders. Development of Implantable Drug Delivery Systems (IDDS) has facilitated targeted therapy with controlled medication delivery, which is anticipated to broaden the growth prospects of the market.
Rising demand for minimally invasive techniques due to enhanced patient outcomes is also a high impact rendering driver for this market. Lower pain and higher cost-efficiency, safety, and efficacy are factors anticipated to fuel demand for these throughout the forecast period. Moreover, shorter recovery time and faster wound closure as compared to traditional procedures is driving physicians toward using IDDS. Growing concern for natural and more aesthetic appearance across all age groups is a significant factor driving demand for IDDS. Lower blood loss during minimally invasive surgeries is also an added advantage. These aforementioned benefits are anticipated to cumulatively drive the market over the coming years.
Drug-eluting stents accounted for the largest share in 2016. Increasing adoption of non-biodegradable implants in hormone regulation, contraception, pain management cancer treatment, and CNS health and abuse deterrence is expected to drive the segment over the forecast period. Manufacturers are focusing on development of cost-effective technologies and novel medication administration techniques to gain competitive advantage.
Bioabsorbable stents are predicted to exhibit exponential CAGR throughout the forecast period. This can be attributed to growing incidence of peripheral and coronary artery diseases, increasing patient-controlled devices, shifting focus of manufactures on clinical trials related to bioresorbable stents, growing adoption by patients and physicians, and rising demand for minimally invasive surgeries. This is predicted to serve as a lucrative opportunity for bioresorbable stents through 2025.
Growing need for novel birth control products is also anticipated to increase demand for contraceptive implants in the coming years. These implants, once placed in the body, can help prevent pregnancy for a certain period. This reduces requirement of consumption of contraceptive pills as well as their associated adverse effects. Hence, adverse effects of certain existing birth control methods are expected to create growth opportunities for contraceptive implants throughout the forecast period.
In addition, manufacturers are focused on development of implantable and long-term contraceptive implants and formulations to improve patient compliance and reduce treatment costs as well as adverse effects. Industry rivalry is anticipated to remain moderately high during the forecast period. Key market players are under constant pressure to develop technologically advanced products.
Non-biodegradable devices accounted for the largest share by product in 2016. Majority of these systems are polymeric matrix-based systems. Slow medication diffusion facilitates sustained release of medication via a delivery system. Matrix systems are also commonly used as non-degradable implants. These systems consist of uniformly distributed therapeutics throughout a solid non-biodegradable polymer.
Biodegradable products are expected to witness exponential growth owing to various associated advantages of associated with it. These advantages include easy fabrication and absorption and excretion of inter-polymers used in biodegradable devices, which alleviates need for surgical removal such as that in case of non-biodegradable products. Other advantages are greater acceptance, higher patient compliance, and positive outcomes, which are anticipated to fuel demand further.
Biodegradable materials are increasingly employed in ocular implants. These systems facilitate sustained-release and high systemic dose administration, thus increasing exposure of ocular tissues to medication. Lacrisert, Surodex, and Ozurdex are some examples of biodegradable implants. In addition, biodegradable polymers are used as drug carriers to facilitate localized and sustained delivery of drugs.
Diffusion held a dominant share by technology in the implantable drug delivery devices market in 2016. Diffusion technology is used for delivering greater volume of therapeutics for treatment of chronic diseases that need higher therapy administration rates.
Osmotic held the second largest share in the market. This can be attributed to adoption of osmotic technology in a wide range of applications such as dentistry, insulin delivery, cancer, anticoagulation, and narcotics. Due to constant and uninterrupted therapeutics release feature of these systems, they have been extensively employed in pain management in the past few years.
Magnetic implants are expected to witness constant growth throughout the forecast period owing to their associated benefits. The various benefits of these systems, when compared to traditional drug delivery devices, are medication administration at a microvascular level and higher efficiency in in vitro targeting. These systems are extensively used in delivery of insulin, antibiotics, anti-tumor agents, and fibrinolytic agents.
Cardiovascular applications held the dominant share in 2016. The substantial share attained by this segment is a consequence of increase in patient population suffering from cardiovascular diseases, which drives the clinical urgency to develop advanced devices. As a result, global players have developed bioabsorbable stents that are gradually absorbed and excreted by the body.
High adoption of drug-eluting stents for treatment of cardiovascular conditions is also responsible for the segment’s high growth potential. Other key contributing factors are higher inclination for minimally invasive surgeries. In 2017, Reva Medical, Inc. announced the CE mark approval for Fantom, which is a sirolimus eluting bioresorbable coronary stent.
The others segment includes multiple sclerosis and rheumatoid arthritis. Increasing global prevalence of multiple sclerosis is a primary growth driver of this segment. Multiple sclerosis is considered to be one of the most common causes leading to non-traumatic disability. Around 2.5 million people around the world are estimated to be suffering from this disorder. According to data published by the CDC, more than 400,000 patients in U.S. have been diagnosed with this condition, with an average increase of 200 cases per week. Average age of disease onset is 30 to 33 years, with only 10.0% of the people being diagnosed after the age of 50.
Contraception held the second-largest market share in 2016, which can be attributed to rising need to control population growth. Significant increase in number of initiatives led by public and private organizations to promote awareness about available measures to help avoid unintended pregnancies can also be attributed to its growth. These initiatives are also aimed at enhancing sexual health services and encouraging people to use contraceptives.
North America held the largest share in the market in 2016 as a consequence of extensive new development activities undertaken by leading players. Growing disease burden across this region has also resulted in high clinical urgency to adopt these devices.
Asia Pacific is anticipated to exhibit an exponential CAGR during the forecast period, attributed to steadily growing healthcare spending as well as awareness levels with respect to benefits of implantable drug delivery devices. Improving regulatory policies that ensure high safety standards and healthcare infrastructure qualityare further anticipated to broaden the scope for growth in this region.
Some of the key market players are Medtronic, Boston Scientific Corporation, and Abbott Laboratories. These players deploy extensive sustainability strategies, such as new product development and regional and distribution channel expansion in order to attain a greater share in the market.
In addition, market leaders are highly focused on delivering economic value and cater to unmet needs. High focus on refining manufacturing processes of technologically advanced products helps players gain a competitive edge over their competitors.
For instance, in October 2017, Boston Scientific Corporation entered into an agreement to acquire Apama Medical, Inc. in an attempt to broaden its portfolio of differentiated arrhythmia solutions. Similarly, in May 2017, Medtronic plc received U.S. FDA approval and launched its product Resolute Onyx Drug-eluting Stent (DES) in U.S., thereby expanding its coronary stents product portfolio.
Base year for estimation
Actual estimates/Historical data
2014 - 2016
2017 - 2025
Revenue in USD Million and CAGR from 2017 to 2025
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
U.S., Canada, Germany, U.K., Japan, China, India, Brazil, Mexico, South Africa
Revenue forecast, company share, competitive landscape, growth factors and trends
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis on latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global implantable drug delivery devices market report on the basis of product, type, technology, application, and region:
Product Outlook (Revenue, USD Million, 2014 - 2025)
Drug Eluting Stents
Type Outlook (Revenue, USD Million, 2014 - 2025)
Technology Outlook (Revenue, USD Million, 2014 - 2025)
Application Outlook (Revenue, USD Million, 2014 - 2025)
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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