Implantable Drug Delivery Devices Market Explore Future Growth 2018-2026: Boston Scientific, Abbott Laboratories, Medtronic, Merck & Co., Bausch & Lomb Inc., Allergan, Inc., Psivida Corp

Implantable drug delivery devices allow several site specific administration where the drug is needed most for the treatment. Devices allows for sustained release of a therapeutic agent and administer significant lower dose of the drug, which minimize side effects. In 2014, Alimera Sciences, Inc. received U.S. FDA approval for Iluvien for the treatment of diabetic macular edema. Iluvien implant is a tiny cylindrical tube inserted into the back of an eye. It is designed to provide a low daily dose of fluocinolone acetonide, a corticosteroid.

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Diabetic Macular Edema is a growing health problem and the number of cases are increasing due to prevalence of diabetes. According to National Diabetes Statistics, as of 2015 an estimated 30.3 million people of all ages had diabetes in U.S. Hence, manufacturers are actively working on research and development of the implant drug delivery devices field which are biodegradable. In 2014, Allergan received U.S. FDA approval for revised indication for Ozurdex (dexamethasone intravitreal implant) for the treatment of diabetic macular edema. Ozurdex is sustained-release biodegradable steroid implant.

Recent discoveries and developments in the field of biotechnology, proteomic, and genomics have led to the development of siRNAs, which are small molecules and other nanoparticles. These drugs are delivered directly to the site for the desired systemic effect. Implantable drug delivery devices are used as conventional drugs are not compatible with standard oral formulations.

Furthermore, high acceptance rate of biodegradable implantable drug delivery devices over non-biodegradable devices due to their easy absorption by the body and alleviating need of surgery after therapy, is expected to propel the market growth.

In 2015, the World Health Organization (WHO) estimated that around 17.7 million people died due to cardiovascular disease. Considering the huge patient pool, market players have developed bio absorbable stents. The bio-absorbable stents is expected to show an exponential growth during the forecast period due the fact that this stent is gradually resorb and cleared from the body.

Bio absorbable stents overcomes the drawback of metal drug eluting stents. In 2017, Reva Medical Inc., received CE mark approval in Europe for Fantom (sirolimus-eluting bioresorbable coronary scaffold). CE marking is a certification mark that confirms with health, safety, and environmental protection standards for products sold within the European Economic Area (EEA).

For instance, in 2016, U.S. FDA approved V-Go, a wearable 24 hour subcutaneous insulin delivery device by Medtronic for diabetes management, which have helped diabetes treatment outcome. The major market players in the global implantable drug delivery devices market include Boston Scientific, Abbott Laboratories, Medtronic, Merck & Co., Bausch & Lomb Inc., Allergan, Inc., Psivida Corp., and Bayer Healthcare.

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Detailed Segmentation:

Global Implantable Drug Delivery Devices Market, By Product Type:
Drug infusion pumps
Intraocular drug delivery devices
Contraceptive drug delivery devices
Stents
Global Implantable Drug Delivery Devices Market, By Technology:
Biodegradable Implants
Non-Biodegradable Implants
Global Implantable Drug Delivery Devices Market, By Application:
Ophthalmology
Cardiovascular
Birth control/Contraception
Others

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