MARKET OVERVIEW
Implantable drug-delivery devices release drugs to the bloodstream continuously offering various advantages to the patients such as avoiding patients from being hospitalized to receive intravenous infusions. These devices are of two types namely biodegradable implants and non-biodegradable implants. They can be used for site specific drug delivery which is important in the field of applications such as cardiology and oncology.
MARKET SCOPE
The "Global Implantable Drug Delivery Devices Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the implantable drug delivery devices market with detailed market segmentation by product type, technology, application, and geography. The report provides key statistics on the market status of the leading implantable drug delivery devices market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type, the global implantable drug delivery devices market is segmented into contraceptive implants, spinal implants, brachytherapy seeds, drug-eluting stents, bio-absorbable stents, intraocular stents, infusion pumps
- On the basis of technology, the market is segmented into biodegradable implants, non-biodegradable implants.
- Based on application, the market is bifurcated into ophthalmology, oncology, cardiovascular, birth control, opioid use disorder, and others.
MARKET DYNAMICS
Drivers
- Availability of technological advanced drug delivery devices
- Increasing demand for implantable coronary drug eluting stents
- Extensive research on drug delivery technologies
Restraints
- High cost of devices and surgery costs
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The implantable drug delivery devices market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the implantable drug delivery devices market in these regions.
IMPACT OF COVID-19 ON IMPLANTABLE DRUG DELIVERY DEVICES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and medical industry in various countries due to lockdowns, travel bans, and business shutdowns.
As various hospitals and healthcare organizations are struggling with the spread of disease, various medical device companies have diverted their focus in producing personal protection equipment. Companies are focusing on the production of diagnostic kits and monitoring systems. Also, they are tackling the outbreak through increased corporate social responsibility (CSR) activities. Therefore, it expected that the market for the implantable drug delivery devices market would witness slow growth in the coming one or two years.
In addition, the COVID-19 pandemic is perplexing healthcare institutions in the region with unprecedented operational and clinical challenges. Moreover, shift of priorities from chronic disease treatment to corona virus diagnosis and treatment are leading to decline in implantable drug delivery devices, leading to decline in market growth up to certain extent.
MARKET PLAYERS
The report covers key developments in the implantable drug delivery devices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from implantable drug delivery devices market are anticipated to lucrative growth opportunities in the future with the rising demand for implantable drug delivery devices in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the implantable drug delivery devices market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
1. Medtronic
2. Psivida
3. Bausch & Lomb Inc.
4. Boston Scientific Corporation
5. Arrow International
6. Cirtec
7. TissueGen
8. Delpor, Inc.
9. Nanomedical Systems
10. InnoCore Pharmaceutical
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
