What is Implantable Drug Delivery Devices?
Implantable drug delivery devices are an alternative system that can achieve effective delivery with lower drug concentrations, and as a result, minimize side-effects whilst increasing patient compliance. Implantable devices are called upon to serve a variety of functions, from vascular stents that preserve blood flow to electrostimulation devices that regulate heart rhythm or block spurious signals in the brain, to orthopedic devices that mechanically reinforce the spine or restore range of motion of hips and knees. For over a decade there has been an increasing convergence between implantable devices and drug therapies, including devices that deliver drugs as a primary of action. This article reviews some representative applications that materials and processes device designers can leverage in developing new products for these growing markets.
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|Key Companies Profiled||Boston Scientific Corporation (United States), Abbott Laboratories (United States), Medtronic Plc. (Ireland), Merck & Co. (United States), Bausch & Lomb Inc. (Canada), Allergan, Inc. (Ireland), Bayer Healthcare (Germany), Alimera Sciences (United States), Eyepoint Pharmaceuticals (United States) and DSM Biomedical (United States)|
The study covers a detailed analysis segmented by key business segments i.e. by type (Biodegradable and Non-Biodegradable) , by application (Contraception, Ophthalmology, Cardiovascular, Diabetes, Oncology, Autoimmune Diseases and Others) and major geographies. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Implantable Drug Delivery Devices market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Implantable Drug Delivery Devices market report suggests strategies that Players can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Players, some of them are Boston Scientific Corporation (United States), Abbott Laboratories (United States), Medtronic Plc. (Ireland), Merck & Co. (United States), Bausch & Lomb Inc. (Canada), Allergan, Inc. (Ireland), Bayer Healthcare (Germany), Alimera Sciences (United States), Eyepoint Pharmaceuticals (United States) and DSM Biomedical (United States).
On 8th February 2022, Second Sight Medical Products and Nano Precision Medical have agreed to merge to focus on drug-device medical implants. The two companies reached an agreement in which privately held Nano Precision Medical (NPM) will merge with a wholly-owned subsidiary of Second Sight in an all-stock transaction, with NPM surviving under Second Sight's ownership.
With the novelty and variety of IDDSs, it is impossible to apply a uniform regulation to all IDDS products. As a result, sponsors face regulatory challenges in registering and marketing their products. The FDA investigates pharmaceutical science literature and US Food and Drug Administration (US FDA) regulatory guidance to determine how any IDDS is classified, regulated, and introduced into the market. Any IDDS' regulatory classification as a drug, medical device, or combination product is the cornerstone in determining the regulatory pathway, which determines the quality control requirements before marketing approval. IDDSs are classified as combination products because they are made up of two or more regulated components (drugs, medical devices, or biological products) that are combined before use to function as a single entity.
The global Implantable Drug Delivery Devices market including many local as well as regional players. Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Implantable Drug Delivery Devices Market Dynamics:
- Increasing Acceptance and Patient Compliance
- Increasing Prevalence of Non-Communicable Diseases
- Increasing Product Innovations and Approvals
|Road Blocks / Challenges|
|Gaps & Opportunities|
- Improving Economic Conditions in the Region
- Rising Geriatric Population, Technological Advancements, And Increasing Demand For Improved Implantable Drug Delivery Devices
Key highlights of the Global Implantable Drug Delivery Devices market Study:
CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Implantable Drug Delivery Devices market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Implantable Drug Delivery Devices market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Players
Comprehensive information about factors that will challenge the growth of Implantable Drug Delivery Devices Players
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Implantable Drug Delivery Devices market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Implantable Drug Delivery Devices market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Implantable Drug Delivery Devices Manufacturer, Implantable Drug Delivery Devices Distributor & Suppliers, Emerging Companies, Original Equipment Manufacturer, Research and Development (R&D) Companies, Government and Independent Research Laboratories, Contract Research Organizations (CROs), Medical Research Laboratories, Academic Medical Institutes and Universities, Government Bodies, End-Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.