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Electrifying Opportunities: Unlocking the Potential of the Implantable Drug Delivery Devices Market Booming Growth
Implantable Drug Delivery Devices Market
Implantable Drug Delivery Devices Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $28.91 billion In 2028 At A CAGR Of 8.1% :
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.
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Implantable Drug Delivery Devices Market Major 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 Driver - 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.
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Prominent Trend - 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.
Implantable Drug Delivery Devices Market Players
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
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Largest And Fastest Growing Region In The Market
North America was the largest region in the implantable drug delivery devices market in 2023. Asia-Pacific was the second-largest region in the implantable drug delivery devices market report. The regions covered in the implantable drug delivery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Implantable Drug Delivery Devices Market Report Structure
3. Implantable Drug Delivery Devices Market Trends And Strategies
4. Implantable Drug Delivery Devices Market - Macro Economic Scenario
5. Implantable Drug Delivery Devices Market Size And Growth
…..
27. Implantable Drug Delivery Devices Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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