Implantable Drug Delivery Devices Market Size, Share and Forecast 2032

Implantable drug delivery devices Market Insights

According to Zion Market Research, the global Implantable drug delivery devices Market was worth USD 13.45 Billion in 2023. The market is forecast to reach USD 26.23 Billion by 2032, growing at a compound annual growth rate (CAGR) of 7.7% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Implantable drug delivery devices Market industry over the next decade.

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Implantable Drug Delivery Devices Market Size Overview   

With the help of implantable drug delivery devices, it has become possible to have site-specific drug delivery. This is of great importance in cardiology and oncology. Implantable drug delivery devices help in the constant release of a therapeutic agent. Implantable drug delivery devices require smaller dosages as compared to its counterpart, which in turn reduces the probability of side effects from drugs.  Implantable drug delivery devices are used in a number of applications including HIV/AIDS prevention, diabetes management, chronic pain management, central nervous system (CNS) health, oncology, contraception, and cardiology.

However, the global markets are slowly opening to their full potential and there's a surge in demand. The market would remain bullish in upcoming year. The significant decrease in the global Implantable drug delivery devices market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.  

Implantable drug delivery devices Market: Growth Factors

Global implantable drug delivery devices market is primarily driven by growing aging population and prevalence of target diseases such as diabetic retinopathy and chronic diseases. Other major driving factors for growth of implantable drug delivery devices market is rising cases of unwanted pregnancies. However, strict government regulations implied on this industry and the high cost of these devices are major restraints that may curb the growth of the market. Nonetheless, the introduction of new and more effective implantable drug delivery devices is likely to disclose the new avenues for implantable drug delivery devices market in the near future.

Implantable Drug Delivery Devices Market: Segment Analysis  

The implantable drug delivery devices market is segmented on the basis of different products including drug infusion pumps, drug delivery devices, bio-absorbable stents, coronary drug eluting stents, brachytherapy seeds, contraceptive drug delivery implants and others. In 2020, implantable drugs infusion pumps were the largest segment of implantable drug delivery devices market and accounted for the largest share of the total market. Additionally, it is expected to continue its dominance and be the fastest growing segment in the global market over the forecast period. Contraceptive drug delivery device is another major product segment of implantable drug delivery devices.

Oncology, birth control/contraception, cardiovascular, ophthalmology, inflammatory conditions, diabetes and others are the key end-user segment of the global implantable drug delivery devices market. The cardiovascular end-user segment dominated the market in terms of revenue. The cardiovascular segment is likely to have a significant growth within the forecast period and is projected as the fastest growing segment as a result of increasing usage of bio-absorbable stents.

Implantable drug delivery devices Market: Report Scope

Implantable drug delivery devices Market: Regional Analysis

North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa are key regional segments of global implantable drug delivery devices market. North America is expected to remain the dominant region over the forecast period. Europe was a second-largest market for implantable drug delivery devices in 2020. Asia Pacific is expected to be the fastest growing region in implantable drug delivery devices market during the forecast period. Moreover, Latin America is also expected to show noticeable growth for this market in the years to come.

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Implantable drug delivery devices Market Players & Competitive Landscape

Some of the major players of the global implantable drug delivery devices market include

• Bausch & Lomb Inc
• Medtronic Inc
• Boston Scientific Corporation
• Arrow International
• Theragenics
• Varian Medical Systems
• Allergan Inc
• Merck
• Bayer Healthcare
• Abbott laboratories

The global Implantable drug delivery devices Market is segmented as follows:

By Products

• Drug Infusion Pumps
• Drug Delivery Devices
• Bio-Absorbable Stents
• Coronary Drug Eluting Stents
• Brachytherapy Seeds
• Contraceptive Drug Delivery Implants
• Others

By End-users

• Oncology
• Contraception
• Cardiovascular
• Ophthalmology
• Inflammatory Conditions
• Diabetes
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa