What Is The Current and Historic Market Size Analysis Of The Implantable Drug Delivery Devices Market?
The implantable drug delivery devices market has seen considerable growth due to a variety of factors.
• The market for implantable drug delivery devices has seen a robust expansion in the recent years. The market is projected to increase from $20.65 billion in 2024 to $22.11 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.1%.
This phenomenal growth during the historic period can be attributed to factors such as an aging population, high occurrence of chronic diseases, increased consumer awareness, growing emphasis on preventive healthcare, and a rising demand for personalized medicine.
What Is The Forecast For The Implantable Drug Delivery Devices Market Size?
The implantable drug delivery devices market is expected to maintain its strong growth trajectory in upcoming years.
• The market for implantable drug delivery devices is projected to experience substantial growth in the coming years. By 2029, it's expected to reach $31.25 billion, showing a compound annual growth rate (CAGR) of 9.0%.
The significant growth anticipated within this time frame can be linked to factors such as personalized drug delivery, an upsurge in demand for minimally invasive procedures, increased healthcare spending, the expansion of global healthcare, and the emergence of regenerative and genomic medicine. Key trends during this forecast period are expected to be technological advancements, progress in biotechnology, the introduction of micro-implants, the utilization of AI in dosage adjustments, the integration of telemedicine, the development of advanced bio-compatible materials, and enhancements in drug delivery technology.
What Are The Essential Drivers Behind The Growth Of The Implantable Drug Delivery Devices Market?
Increased incidences of specific illnesses such as diabetic retinopathy, cancer, cardiovascular diseases, and other chronic conditions are anticipated to enhance the market demand for implantable drug delivery devices. Notably, the Centers for Disease Control and Prevention reported that the number of tuberculosis cases elevated from 8,320 in 2022 to 9,615 in 2023, signifying a rise of 1,295 cases or 16% in March 2024. Consequently, the use of implantable drug devices for site-specific medication administration, beneficial in treating these diseases, is bolstering the growth of the implantable drug delivery devices market.
How Is The Global Implantable Drug Delivery Devices Market Divided Into 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
Subsegments:
1) By Contraceptive Implants: Hormonal Contraceptive Implants, Non-hormonal Contraceptive Implants
2) By Spinal Implants: Biodegradable Spinal Implants, Non-biodegradable Spinal Implants
3) By Brachytherapy Seeds: Iodine-125 Seeds, Palladium-103 Seeds, Cesium-131 Seeds, Other Brachytherapy Seeds
4) By Drug-Eluting Stents: Coronary Drug-Eluting Stents, Peripheral Drug-Eluting Stents
5) By Bio-absorbable Stents: Polymer-based Bio-absorbable Stents, Metal-based Bio-absorbable Stents
6) By Intraocular Stents: Glaucoma Intraocular Stents, Cataract Surgery Intraocular Stents
7) By Infusion Pumps: Insulin Pumps, Chemotherapy Infusion Pumps, Pain Management Infusion Pumps, Other Infusion Pumps
8) By Other Applications: Implantable Reservoirs, Implantable Micro-pumps, Implantable Drug Elution Devices
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How Are New Trends Impacting The Size Of The Implantable Drug Delivery Devices Market?
A focus is currently being put by corporations and researchers on evolving 3D printing materials used to assist drug delivery devices that can be implanted. The reference here is to bespoke materials used for drug delivery devices in 3D printing and other additive manufacturing processes, which are aimed at designing drug delivery systems with precision and customization. For example, a research conducted in 2022, and published by the National Center for Biotechnology Information (NCBI), suggested the merging of 3D-printed implants with biodegradable rate-controlling membranes, with the aim of generating devices with the ability to continuously deliver hydrophobic drugs.
Who Are the Key Players In The Implantable Drug Delivery Devices Market?
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
What Are The Regional Insights Into The Implantable Drug Delivery Devices 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.
