Implantable Drug Delivery Devices Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | AbbVie Inc., Bayer HealthCare, Medtronic Inc., Nucletron, Boston Scientific Corporation

"The implantable drug delivery devices market size has grown strongly in recent years. It will grow from $19.66 billion in 2023 to $21.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to aging population, chronic disease prevalence, consumer awareness, growing focus on preventive healthcare, increasing demand for personalized medicine.

The implantable drug delivery devices market size is expected to see strong growth in the next few years. It will grow to $28.91 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to customized drug delivery, growing demand for minimally invasive surgeries, rising healthcare expenditure, global healthcare expansion, regenerative medicine, genomic medicine. Major trends in the forecast period include technological innovations, advancements in biotechnology, micro-implants, ai-powered dosage adjustment, telemedicine synergy, advanced biocompatible materials, advancements in drug delivery technology.

Market Overview -
Implantable drug delivery devices are drug delivery systems implanted under the skin that transmit drugs into the bloodstream from a reservoir. These devices facilitate site-specific drug delivery and require smaller doses, thereby minimizing side effects.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=3303&type=smp

Driving Factors For Implantable Drug Delivery Devices
The rise in the incidence of target diseases such as diabetic retinopathy, cancer, cardiovascular diseases, and other chronic diseases is expected to drive the implantable drug delivery devices market. In October 2022, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, the burden of drug-resistant tuberculosis (DR-TB) increased by 3% between 2020 and 2021, with 450,000 new cases of rifampicin-resistant TB (RR-TB) in 2021. This is the first time in many years that an increase has been reported in the number of people falling ill with TB and drug-resistant TB. Hence, the site-specific drug administration nature of implantable drug devices, which help in the treatment of target diseases, is driving the implantable drug delivery devices market.

Competitive Landscape -
Major companies operating in the implantable drug delivery devices market include AbbVie Inc., Bayer HealthCare, Medtronic Inc., Nucletron, Boston Scientific Corporation, Abbott Laboratories, Bausch and Lomb Inc., Merck & Co. Inc., Genentech Inc, EyePoint Pharmaceuticals Inc., DSM Biomedical, Delpor Inc., Teleflex Incorporated, 3M Company, Biotronik Inc., Alcon Inc., Terumo Corporation, Endologix Inc., TransEnterix Inc., China Grand Pharmaceutical and Healthcare Holdings, Innocoll Biotherapeutics, Atossa Therapeutics Inc., Intersect ENT, Microchips Biotech, Theradaptive Inc., CollPlant, Intarcia Therapeutics, Glaukos Corporation

Innovation In Implantable Drug Delivery
Companies and researchers are focusing on developing 3D printing material for supporting implantable drug delivery devices. 3D printing materials for drug delivery devices refer to specialized materials used in additive manufacturing processes, such as 3D printing, to create customized and precise drug delivery systems. For instance, in 2022, study published in the National Center for Biotechnology Information (NCBI) proposed the combination of 3D-printed implants and biodegradable rate-controlling membranes to produce devices capable of sustained delivery of hydrophobic drugs.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/implantable-drug-delivery-devices-global-market-report

Key Segments -
The implantable drug delivery devices market covered in this report is segmented -
1) By Product: Contraceptive Implants, Spinal Implants, Brachytherapy Seeds, Drug-Eluting Stents, Bio-absorbable Stents, Intraocular Stents, Infusion Pumps, Other Applications
2) By Technology: Diffusion, Osmotic, Magnetic, Other Technologies
3) By Application: Contraception, Ophthalmology, Cardiovascular, Diabetes, Oncology, Autoimmune Diseases, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model "

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.