Global Implantable Drug Delivery Devices Market Trends And Strategies

The global implantable drug delivery devices market is expected to decline from $19.18 billion in 2019 to $18.82 billion in 2020 at a compound annual growth rate (CAGR) of -3.38%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $24.14 billion in 2023 at a CAGR of 8.65%. 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. However, the rising number of product recalls and lawsuits associated with implantable drug delivery devices is expected to hinder the market.

Implantable drug delivery devices are drug delivery systems implanted by surgery to allow site-specific drug administration at the tissue or organ where the drug is most needed.

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The global implantable drug delivery devices market is further segmented based on type and geography.
By Product: Contraceptive Implants, Spinal Implants, Brachytherapy Seeds, Drug-Eluting Stents, Bio-absorbable Stents, Intraocular Stents, Infusion Pumps, Others
By Technology: Diffusion, Osmotic, Magnetic, Others
By Application: Contraception, Ophthalmology, Cardiovascular, Diabetes, Oncology, Autoimmune Diseases, Others.
By Geography: The global implantable drug delivery devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American implantable drug delivery devices market accounts for the largest share in the global implantable drug delivery devices market.

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Trends In The Implantable Drug Delivery Devices Market
Companies and researchers are focusing on developing 3D implantable drug delivery devices. 3D printed titanium transcutaneous ports are implanted behind the patient’s ear, allowing healthcare professionals to access the catheters.
Implantable Drug Delivery Devices Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides implantable drug delivery devices market overviews, analyzes and forecasts implantable drug delivery devices market size and growth for the global implantable drug delivery devices market, implantable drug delivery devices market share, implantable drug delivery devices market players, implantable drug delivery devices market size, implantable drug delivery devices market segments and geographies, implantable drug delivery devices market trends, implantable drug delivery devices market drivers and implantable drug delivery devices market restraints, implantable drug delivery devices market’s leading competitors’ revenues, profiles and market shares. The implantable drug delivery devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.