Implantable Drug Delivery Devices Market 2019 | Develop Rapidly By Top Players Boston Scientific, Abbott Laboratories, Medtronic, Merck & Co., Bausch & Lomb Inc., Allergan, Inc., Psivida Corp., Bayer Healthcare

Implantable drug delivery devices are used to administer drugs and fluids without the repeated insertion of needles. This product circumvents the need for patients to be hospitalized for intravenous infusion. Recent discovery and developments in genomics, proteomics and biotechnology have led to emerging classes of novel pharmaceutical compounds like siRNAs, small molecules and other nanoparticle based products that are not compatible with standard oral formulations. Instead these drugs are well suited for parenteral administration for their desired systemic effect. Implantable drug delivery devices can be aptly utilized for delivery of such drugs, Over last decade there has been increasing convergence between drug therapies and implantable devices, which include devices such as, osmotic pumps and implantable rods that deliver drugs on specific targeted area (anticancer agents, hormones and vaccine).

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Implantable drug delivery devices offer several advantages over conventional oral or parenteral dosage form such as protection against gastrointestinal tract denaturation and higher absorption across the wall of intestine or stomach. Secondly, the amount of drug reaching the target should be large to obtain the desired therapeutic effect. Another factor that increases acceptance and patient compliance over traditional mode of administration of drug is the biodegradable systems which have gain momentum over non-biodegradable delivery system due to the fact that inert polymer used for the fabrications of the device eventually gets absorbed and excreted by the body alleviating the need of surgical removal of implant after therapy. These factors together are expected to propel the market growth in future forecast. Moreover, factors like device failure, and biocompatibility is expected to restrain the overall market growth.

The global implantable drug delivery device market was valued at US$ 9,554.4 million in 2016 and is expected to witness a robust CAGR of 7.6 % over the forecast period (2017-2025).

Market Dynamics

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.

However, device failure and biocompatibility issue is expected to hamper growth of the market. Manufacturers need to be cautious in adhering to quality guidelines in order to avoid recall of devices.

According to a report by World Health Organization (WHO), 2017, chronic diseases are the major cause of disabilities worldwide. The estimated global burden by 2020 is 60%. Moreover, 73% of deaths in 2020 is expected to be due to chronic diseases. Four of the most prominent chronic diseases are cardiovascular, cancer, pulmonary and type 2 diabetes. Implantable drug delivery devices offers unique patients solutions for chronic diseases. For instance, in October, 2017, Encellin, has received an exclusive worldwide right for a proprietary cell encapsulated technology by developed UC San Francisco aiming to improve cell transplant without the need of immunosuppressive drugs. The Encellin device is encapsulated with glucose sensitive islet cells in a pouch, and is implanted under the skin, enabling it to regulate glucose level. Similarly, In 2015 Intarcia Therapeutics, developed a drug eluting non-biodegradable device ITC650 for the treatment of diabetes, which consists of osmotic pump small titanium alloy reservoir delivering a steady flow of a glucagon-like peptide-1 receptor agonist, for 12 months.

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Geographically, North America is expected to be the dominating region globally in implantable drug delivery devices market owing to high demand for self-administration products and new product launches in this region. 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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