DUBLIN, July 28, 2022 /PRNewswire/ -- The "Implantable Drug Delivery Devices Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global implantable drug delivery devices market is expected to grow from $17.20 billion in 2021 to $18.35 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%. The market is expected to grow to $24.08 billion in 2026 at a compound annual growth rate (CAGR) of 7.0%.
North America was the largest region in the implantable drug delivery devices market in 2021. Asia Pacific was the second-largest region in the implantable drug delivery devices market. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The rise in the incidence of target diseases such as diabetic retinopathy, cancer, cardiovascular diseases, and other chronic diseases is expected to drive the implantable drug delivery devices market.
According to the International Diabetes Federation (IDF), the global prevalence of diabetic retinopathy was around 27% in 2019. 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.
The rising number of product recalls and lawsuits associated with implantable drug delivery devices is expected to hinder the market. In the past few years, there had been an increase in product recalls and lawsuits connected with these devices. For instance, in December 2019, around 7,000 Medtronic SynchroMed II, implantable drug infusion pumps were recalled due to the presence of foreign bodies in them.
Nexplanon, a small rod contraceptive implant inserted into the skin of the upper arm to prevent pregnancy for up to three years, is facing a lawsuit, and lawyers and attorneys at National Injury Help have been investigating all such cases against those injured by Nexplanon. Therefore, the rising number of product recalls and lawsuits concerning implantable drug delivery devices is expected to hinder the growth of the market.
Scope Markets Covered:
- By Product: Contraceptive Implants; Spinal Implants; Brachytherapy Seeds; Drug-Eluting Stents; Bio-absorbable Stents; Intraocular Stents; Infusion Pumps; Other Applications
- By Technology: Diffusion; Osmotic; Magnetic; Other Technologies
- By Application: Contraception; Ophthalmology; Cardiovascular; Diabetes; Oncology; Autoimmune Diseases; Other Applications
Key Topics Covered:
1. Executive Summary
2. Implantable Drug Delivery Devices Market Characteristics
3. Implantable Drug Delivery Devices Market Trends And Strategies
4. Impact Of COVID-19 On Implantable Drug Delivery Devices
5. Implantable Drug Delivery Devices Market Size And Growth
6. Implantable Drug Delivery Devices Market Segmentation
7. Implantable Drug Delivery Devices Market Regional And Country Analysis
8. Asia-Pacific Implantable Drug Delivery Devices Market
9. China Implantable Drug Delivery Devices Market
10. India Implantable Drug Delivery Devices Market
11. Japan Implantable Drug Delivery Devices Market
12. Australia Implantable Drug Delivery Devices Market
13. Indonesia Implantable Drug Delivery Devices Market
14. South Korea Implantable Drug Delivery Devices Market
15. Western Europe Implantable Drug Delivery Devices Market
16. UK Implantable Drug Delivery Devices Market
17. Germany Implantable Drug Delivery Devices Market
18. France Implantable Drug Delivery Devices Market
19. Eastern Europe Implantable Drug Delivery Devices Market
20. Russia Implantable Drug Delivery Devices Market
21. North America Implantable Drug Delivery Devices Market
22. USA Implantable Drug Delivery Devices Market
23. South America Implantable Drug Delivery Devices Market
24. Brazil Implantable Drug Delivery Devices Market
25. Middle East Implantable Drug Delivery Devices Market
26. Africa Implantable Drug Delivery Devices Market
27. Implantable Drug Delivery Devices Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Implantable Drug Delivery Devices Market
29. Implantable Drug Delivery Devices Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Allergan inc.
- Bayer HealthCare
- Medtronic Inc.
- Nucletron
- Boston Scientific Corporation
- Abbott Laboratories
- Bausch and Lomb inc.
- Merck
- Genetech Inc.
- Psivida
- Nucletron
For more information about this report visit https://www.researchandmarkets.com/r/cjr4qn
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SOURCE Research and Markets
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