Implantable Drug Delivery Systems Market Scope
Medical devices that allow for site-specific drug administration are known as implantable drug delivery devices. It also aids in the reduction of drug doses to reduce the risk of negative effects. These devices allow a therapeutic agent to be released in a controlled manner. Due to the site-specific and sustained release therapeutic action of implantable devices, that further reduces the drug's side effects, these implantable devices are acquiring a competitive advantage over traditional oral or parenteral dosage forms.
According to AMA, the Global Implantable Drug Delivery Systems market is expected to see growth rate of 20.3%The global market for Radiofrequency Electrosurgical Units is expanding due to fierce competition. The market is fragmented, but key competitors are increasing their R&D spending. These companies are pursuing various growth initiatives, such as collaborations, agreements, partnerships, and new product launches, in order to obtain a competitive advantage in the industry. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Implantable Drug Delivery Systems market throughout the predicted period.
Boston Scientific Corporation (United States), Bayer Healthcare (Germany), Medtronic Inc (Ireland), Allergan Inc (Ireland), Abbott Laboratories (United States), Bausch and Lomb Inc. (Canada), Genetech Inc. (United States), Merck&Co. Inc. (United States), PSivida Corporation (United States), Varian Medical System (United States) and Arrow International (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Neurotech Pharmaceuticals (United States), Replenish Inc. (United States) and Ithetis (Switzerland).
Segmentation Overview
The study have segmented the market of Global Implantable Drug Delivery Systems market by Type (Contraceptive Implants, Spinal Implants, Brachytherapy Seeds, Drug-Eluting Stents, Bio-absorbable Stents, Intraocular Stents, Infusion Pumps and Others), by Application (Contraception, Ophthalmology, Cardiovascular, Diabetes, Oncology, Autoimmune Diseases and Others) and Region with country level break-up.
On the basis of geography, the market of Implantable Drug Delivery Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Rising Demand for Minimally Invasive Medical Treatments Higher Prevalence of Chronic Diseases and The Rising Geriatric Population and Development of New Implantable Devices
Market Growth Drivers:
Rising Demand for Minimally Invasive Medical Treatments Higher Prevalence of Chronic Diseases and The Rising Geriatric Population and Development of New Implantable Devices
Challenges:
Problem Faces Such as Possibility of Implanted Device Failure
Restraints:
Higher Implantation Cost and Stringent Regulations by Regulatory Bodies
Opportunities:
Increasing Awareness and Funding by Government to Pharma Companies and Higher Speedy Recovery and Wound Closer Compare to Traditional Method
Market Leaders and their Expansionary Development Strategies
In November 2019, Daré Bioscience announce the acquisition of Microchips Biotech, Inc for the First-in-Class Wireless, User-Controlled Drug Delivery Platform. The acquisition aims to continue the product and clinical development of the critical new drug delivery technology platform. Daré will be uniquely positioned with two of the potentially most disruptive innovations in the contraceptive category with the addition of the user-controlled, long-acting reversible contraceptive opportunity to its pipeline, which already includes the novel monthly, hormone-free contraceptive Ovaprene
In August 2021, Novartis, Alessandro Grattoni, and the Houston Methodist Research Institute partnered with the International Space Station (ISS) U.S. National Laboratory aims for developing the next generation of implantable drug delivery systems for the prevention and treatment of chronic diseases. An innovative remotely controlled implantable medication delivery system that enables the regulated distribution of a medicament inside the body on demand. The remotely operated device could offer new possibilities for telemedicine and individualized therapeutic treatments on Earth, and also new capabilities for medical research in space if the technology demonstration is effective.
“According to USFDA regulations, the classification of any Implantable Drug Delivery Systems as a drug, medical device, or combination product, determines the regulatory pathway, which determines the quality control requirements prior to marketing clearance. Combination products, such as implantable drug delivery systems, are made up of two or more regulated components (drugs, medical devices, or biological products) that are joined prior to use to act as a single entity. Although each component's regulatory processes are robust and well-defined in the Regulation, the regulatory pathways for combination products are less well-defined.”
Key Target Audience
Manufactures, Distributor and Supplier, Research and Development Institutes, Financial Institutes and Investors, Upstream and Downstream Buyers, Regulatory Bodies and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.