The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s implantable drug delivery devices market report forecasts the implantable drug delivery devices market size to grow to $26 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

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Implantable Drug Delivery Devices Market Size Forecast
The global implantable drug delivery devices market is expected to grow from $18.35 billion in 2022 to $19.58 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The implantable drug delivery devices market is expected to grow from $26 billion in 2027 at a CAGR of 7.3%.

North America held the largest implantable drug delivery devices market share.

Key Implantable Drug Delivery Devices Market Driver ­– Rise In The Incidence Of Target Diseases Chronic Diseases
According to the International Diabetes Federation (IDF), the global prevalence of diabetic retinopathy was one in three in 2020. Implantable drug delivery devices are used for site-specific drug administration where the drug is most needed, such as Gliadel® wafer as an implant used in the treatment of brain tumors, Lupron depot for the treatment of prostate cancer. 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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Key Implantable Drug Delivery Devices Market Trend – Developing 3D Implantable Drug Delivery Devices
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. For instance, in February 2020, Renishaw and Herantis Pharma announced the award-winning device, which received positive results in phase 2 trials, that consists of up to four catheters implanted in the relevant brain areas. Researchers at King Abdullah University of Science and Technology have introduced a miniaturized drug delivery system suitable for in-vivo biomedical applications. The system consists of an electrolytic pump, which operates a micro bellows membrane as an actuator for delivery through microneedles. A two-photon 3D printing technique was used to make a reservoir equipped with a microneedle.

Implantable Drug Delivery Devices Market Segment
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

Implantable Drug Delivery Devices Market Major Players and Strategies
Major players in the implantable drug delivery devices market are Allergan Inc., Bayer HealthCare, Medtronic Inc., Nucletron, Boston Scientific Corporation, Abbott Laboratories, Bausch and Lomb Inc., Merck, Genetech Inc., and Psivida.

In February 2022, Second Sight Medical Products, a California-based manufacturer of prosthetic devices, merged with Nano Precision Medical. The companies would collaborate to develop drug delivery medical implants.Nano Precision Medical is a US-based developer of NanoPortal drug implant technology.

The Implantable Drug Delivery Devices Global Market Report 2023 covers regional data on implantable drug delivery devices market size, implantable drug delivery devices market trends and drivers, opportunities, strategies, and implantable drug delivery devices market competitor analysis. The countries covered in the implantable drug delivery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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 minimising side effects.

View More Reports Related To The Implantable Drug Delivery Devices Market –
Drug Delivery Devices Global Market Report 2023
Drugs For Immunotherapy Global Market Report 2023
Injectable Drug Delivery Devices Global Market Report 2023

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