Global Implantable Drug Delivery Devices Market By Product Type (Intraocular Drug Delivery Devices, Contraceptive Drug Delivery Devices, Stents, Drug Infusion Pumps) By Material Type (Biodegradable And Non-Biodegradable) By Application (Cardiovascular, On
The implantable drug delivery is the procedure that facilitates the drug to be released in the bloodstream. To deliver the drug, numerous devices are being offered in the market, depending upon the kind of cure the device is manufactured for. For instance, by utilizing implantable drug delivery infusion pump, the insulin is delivered in the human body to cure diabetes. Moreover, contraceptive drug delivery devices including intrauterine devices are being utilized to control the birth. These devices are actively programmable with access ports to resupply the medications when needed. Owing to such factors, implantable drug delivery devices market is anticipated to have significant growth over the forecast period.
The growth is attributed to the rising prevalence of chronic diseases including cardiovascular, diabetes, obesity and cancer, etc., coupled with increasing involvement of government bodies such as U.S. Food and Drug Administration and European Union towards the use of safer products along with recommended quality of the implant devices, is also fueling the demand for implantable drug delivery devices in the market.
Sample Copy of This Report @ https://www.insightsandreports.com/request-sample/187
Implantable Drug Delivery Devices Market: Dynamics
The implantable drug delivery devices market is largely driven by the simplified targeted therapy that avoids patients from being hospitalized and from intravenous infusions. Furthermore, the advancement in the implantable drug delivery devices to microscale implantable drug delivery devices (IDDSs) have gained traction over the past few years. This miniaturization of the technology is highly advanced in delivering the drug, thereby providing better control over the disease via its accurate, less painful and long-life expectancy features. Patients suffering from osteoporosis have been much relieved owing to the development for microscale IDDS’s that has come out to be effective in the treatment of disease and enhancing the quality of life. This innovative technology has potential to cure further diseases such as neurological disorders, contraception, movement disorders particularly hip and knee movements among others. Therefore, the technology enhancement is anticipated to be a major booster to the market.
Furthermore, these devices responsibly take a reduced amount of time in recovery and closure of wounds during the surgery over the traditional methods such as conventional oral (through mouth) and parenteral dosage form (injections into systemic circulation). Therefore, surging up the market.
The major factors restraining the implantable drug delivery devices market comprises of the high costs involved in manufacturing the implantable devices coupled with the possible device failures which could hamper the growth of the implantable drug delivery device market. For instance, in 2016, Medtronic developed devices named SynchroMed II and SynchroMed EL implantable drug infusion pump. These pumps are utilized among the patients suffering from metastatic cancer, and chronic pain. The device incurred a software problem which lead to Medtronic to recall and update the software of the product, under the guideline of U.S. FDA.
Implantable Drug Delivery Devices Market: By Product Type
Contraceptive drug delivery devices’ segment is anticipated to have a prime share in the implantable drug delivery devices market over the forecast period owing to the decent rise in demand for hormone regulation and contraception by the adoption of non-biodegradable implants over the recent years, thus, offering a generous market growth. For instance, contraceptive rings are being placed in the vagina for the birth control by women.
Moreover, bio absorption stents are anticipated to rise enormously over the projected period. The growth is majorly attributed owing to the rise in cardiovascular diseases including coronary artery diseases (CAD) among the patients. As per the statistics by American Heart Association, in 2018, 92.1 million (approx.) adult people in the U.S. suffer from some kind of cardiovascular disorder, which is expected to result in 2300 deaths a day. Due to this, the utilization of the bio absorption stents is expected to rise, thus helping the market to grow further.
Implantable Drug Delivery Devices Market: By Material Type
On the basis of material, the implantable drug delivery devices market is segmented into biodegradable and non-biodegradable. Biodegradable implantable devices market is anticipated to witness high growth over the forecast period. L-lactide is an absorbable material used in the manufacturing of bio-absorbable stents. They have the capability to dissolve naturally in the human body, and is attributed towards the market growth. For instance, Abbott developed the Absorb GT1 Bioresorbable Vascular Scaffold System (BVS) which was approved by the U.S. Food and Drug Administration in 2016. This implantable device can deliver the drug named everolimus which limits the growth of the tissue scars, and also has the capability to dissolve in the human body in about 3 years.
Implantable Drug Delivery Devices Market: By Application:
The implantable drug delivery devices market for cardiovascular applications is anticipated to be dominant during the forecast period. According to the American College of Cardiology, cardiovascular diseases (CVD) are responsible for the death of nearly 8,00,000 people in the U.S. alone. Majority deaths in the U.S. are caused by cardiovascular disease including coronary heart diseases, followed by heart failure and stroke. Therefore, the rise in the cardiovascular diseases would give space for the growth of absorbable stents, which is further expected to contribute a decent revenue share in the market.
Implantable Drug Delivery Devices Market: Regional Analysis
North America is anticipated to have a dominant share in the market during the forecast period with the U.S. maintaining its dominance owing to its world’s largest and established pharmaceutical market. Moreover, the nation is highly focused and known to be world leader in the biopharmaceutical research. As per the statistics by the Bureau of Labor Statistics, U.S. in 2010, approximately US$ 67.4 billion was invested in the research and development in pharmaceutical sector. Some of the leading players investing hugely in the research & development include Pfizer, Inc, Johnson & Johnson, Inc, Antares Pharma and Dickinson and others.
The treatment of prostate cancer is quite painful, and this pain can be reduced by the use of intrathecal drug delivery pumps, thus, providing a significant growth to the implantable drug delivery devices. Rising prostate cancer cases among men in the U.S. is another reason attributed to the growth of U.S. implantable drug delivery devices market. According to the stats by National Cancer Institute, the estimated new cases of prostate cancer in 2018 is about 15,646 cases, out of which 1,413 deaths are estimated.
Asia Pacific is predicted to have a substantial growth over the forecast period, which is highly attributed by the steep growth in the healthcare industry majorly in China and India. According to China Chamber of Commerce for Import and Export of Medicines and Health Products, China became the second largest pharmaceutical market in 2014. According to CCCMHPIE, China healthcare industry output value reached to US$ 420.0 billion in 2015, increasing from US$ 380.0 billion in 2014. This will further give some good opportunities for the growth of China implantable drug delivery devices market.
Moreover, the presence of some major pharmaceutical companies in the Asia Pacific region will further open up opportunities for the growth of Asia Pacific implantable drug delivery devices market. Some of the predominant players present in this region include Baxter International, Glaxo Smith Kline and Boehringer Ingelheim GmbH among others.
For more information about this report @ https://www.insightsandreports.com/industry-reports/implantable-drug-delivery-devices-market
The key vendors in the implantable drug delivery devices market include Medtronic Inc, Cydex, Inc, Alkermes, Inc, Abbott Laboratories, Bayer Healthcare, Psivida Corp, Allergan, Inc. and Boston Scientific Corporation among several others.
Major players in this market are working on the development of new devices to overcome the failure cases, broaden the device application and to enhance the device’s efficiency. For instance, in 2018, Medtronic announced the approval received from U.S. FDA on implantable drug delivery system and cardiac catheter technology for the patients suffering from pulmonary arterial hypertension.
Insights and Reports follows a holistic research methodology to provide cumulative insights to our valuable clients. Our research methodology takes into account the historic and current market drivers, restraints, current and upcoming trends, and competitive analysis to gather and offer actionable insights. The micro and macroeconomic indicators of the market are taken into consideration to ascertain the market dynamics.
Insights and Reports
2201 Cooperative Way #600,
Herndon, VA 20171, USA.
Phone:+1 703 574 4447
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Implantable Drug Delivery Devices Market By Product Type (Intraocular Drug Delivery Devices, Contraceptive Drug Delivery Devices, Stents, Drug Infusion Pumps) By Material Type (Biodegradable And Non-Biodegradable) By Application (Cardiovascular, On here
News-ID: 1431850 • Views: 247
More Releases from Healthcare
advanced wound care market 2019-2030 : World Consumption and application
The main considerations credited to the advanced wound care market development are the quick increment in the frequency of perpetual maladies, for example, diabetes, because of an adjustment in way of life factors and the endeavors to lessen the span of clinic remains to bound the careful expenses. Moreover, the interest for the advanced wound care market is driven by great repayment situation, increment in healthcare use by the legislature,
Microelectronic Medical Implants Market Size, Share, Emerging Trends, Analysis a …
Worldwide Market Reports added Latest Research Report titled “Microelectronic Medical Implants Market by Manufacturers, Regions, Product Type and Application, Forecast to 2022” to its Large Report database. Microelectronic Medical Implants Market Report provides important information related to the overall market and price forecast over a five-year period, from 2017 to 2022. In this bit, the experts have offered essential figures which relates to the production and consumption forecast for the major
Laser Fiber In Medical Market Technological Advancements & Competitive Insights …
Worldwide Market Reports added Latest Research Report titled “Global Laser Fiber In Medical Market by Manufacturers, Regions, Product Type and Application, Forecast to 2023″ to its Large Report database. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing capital structure of the Global Laser Fiber In Medical Market. The Report highlights key market dynamics of sector. Various definitions and classification of the industry, applications of
Laser Fiber In Medical Applications Market Share, Growth, Outlook from 2013 to 2 …
Worldwide Market Reports added Latest Research Report titled “Global Laser Fiber In Medical Applications Market by Manufacturers, Regions, Product Type and Application, Forecast to 2023″ to its Large Report database. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing capital structure of the Global Laser Fiber In Medical Applications Market. The Report highlights key market dynamics of sector. Various definitions and classification of the
More Releases for Drug
Biologics Drug Discovery Market
2019-2025 Biologics Drug Discovery Market Report with Depth Analysis The biologics drug discovery involves target identification, hit-to-lead stage, lead identification and optimization. The report presents a comprehensive overview, market size, shares, and growth opportunities of Biologics Drug Discovery market by product type, application, key manufacturers and key regions. Request For Free report Sample -https://www.reportsmonitor.com/request_sample/306320 Scope of the Report: Furthermore, Biologics Drug Discovery Market report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers or
Opioid Antagonist Drug Market
The global market has been prognosticated to earn demand from popular types of products such as external use, oral and applications such as household and hospital. The Company has made available another publication in its Healthcare archive of market intelligence reports, which is titled “Global Opioid Antagonist Drug Market Research Report 2018.” While the threat of substitutes and technological risks could have an unfavorable impact on the global market, potential
Drug and cosmetics
Drug and Cosmetics Conferences regards each one of the individuals to go to the On “Drug and Cosmetics” amidst October 17-October 18, 2018 in Toronto, Canada which melds brief keynote presentations, speaker talks, Exhibition, Symposia, Workshops. Drug and Cosmetics Congress is one of the meetings and conferences which will be visited by all the prestigious cosmetologists, Scientists, fiery inspectors, postgraduates, affiliations, business meanders under a solitary rooftop. DRug and cosmetics BLESSY MATHEW Program
Hepatitis Drug Market Hepatitis Drug Clinical Pipeline Report 2023
For Report Sample Contact: email@example.com or +91-11-47067990 Report Table of Contents 1. Introduction to Hepatitis Disease 1.1 Prologue 1.1.1 History of Hepatitis 1.1.2 Causes of Hepatitis Disease 1.2 Types of Viruses which are Responsible for Hepatitis Disease 2. Global Prevalence of Hepatitis Infection 3. Available Drug Classes for Hepatitis Disease Treatment 3.1 Interferon Alfa Therapy 3.2 Protease Inhibitors Therapy 3.3 Polymerase
Microcapsules Drug Delivery Market Microcapsules Drug Delivery Sales Report 2022
For Report Sample Contact: firstname.lastname@example.org or +91-11-47067990 Report Table of Contents 1. Indispensable Advent of Microcapsules 1.1 Trajectory of Microencapsulation 1.2 Why and wherefores for Microencapsulation 2. Characterization of Microcapsules 2.1 Composition of Microcapsules 2.2 Parameters Influencing Microcapsules 3. Engineering Technology of Microcapsules 3.1 Physical Manufacturing Technologies 3.2 Physicochemical and Chemical Technologies 4. Applicability of Microcapsules 4.1 Microcapsules in Pharmaceuticals 4.2 Microcapsules in Nutraceuticals
AstraZeneca’s NMOSD Drug receives orphan drug designation
April 18, 2017 Orphan Drug European Medicine Agency has Announced orphan drug designation for inebilizumab (earlier known as MEDI-551) developed by AstraZeneca PLC (AZN) for the treatment of neuromyelitis optica spectrum disorder (NMOSD). The drug has already received orphan drug status from US Food and Drug Administration (FDA). NMOSD, also called Devic’s disease, is a rare, autoimmune disorder of the central nervous system (CNS) that affects the functioning