Healthcare News : Implantable Drug Delivery Devices Market Is Expected to Reach USD 21.1 Billion Globally in 2018
Transparency Market Research Report Add "Implantable Drug Delivery Devices Market - Global Industry Analysis, Size, Share, Trends And Forecast 2012 - 2018" to its database.
Albany, NY -- (SBWire) -- 07/22/2013 --Market Research Reports : Transparency Market Research published new market report "Implantable Drug Delivery Devices (Contraceptives, Drug Infusion Pumps, Intraocular Implants, Drug Eluting, Bio-absorbable Stents, Biodegradable) Market- Global Industry Analysis, Size, Share, Trends and Forecast, 2012 - 2018," in 2011, the global market for implantable drug delivery devices was calculated at USD 11.6 billion and is expected to grow at a CAGR of 8.8% from 2012 to 2018, to reach an estimated value of USD 21.1 billion in 2018.
Browse the full report at http://www.transparencymarketresearch.com/implantable-drug-delivery-devices.html
A growing prevalence of target disease segments such as prostate cancer, diabetic retinopathy, chronic pain causing diseases, cardiovascular diseases, colorectal cancer, a rising global prevalence of unwanted pregnancies and a rapidly aging global population are some of the most impact rendering drivers for the global implantable drug delivery devices market. Some of the other drivers for the market include government and NGO initiatives undertaken to promote contraceptive drug delivery implants, rising number of interventional cardiologists and the rising demand for minimally invasive surgeries. Introduction of biodegradable implantable drug delivery technologies and new products such as MicroChips catering to disease segments such as osteoporosis will serve the market as future growth opportunities.
The market for implantable drug delivery devices in cardiovascular applications held majority of the market share in 2011 and owing to the introduction of bio-absorbable stents expected in 2014, its market share is likely to witness further increase by 2018. The biodegradable drug delivery implant technology will grow at a faster CAGR in comparison to the non-biodegradable drug delivery implant technology due to the fact that they do not involve re-surgeries for device removal and eliminates side effects induced by the prolonged presence of the device in the body.
The North American implantable drug delivery devices market held majority of the market share in 2011. However, its market share is expected to drop by 2018 owing to the accelerated market growth in the Asian regions induced by the economic development of emerging nations with high unmet medical needs such as India and China.
Merck held a majority of the market share in the global contraceptive drug delivery implants market due to the high adoption rate of its implants namely NuvaRing, Implanon and Implanon Nxt. Merck is closely followed by Bayer HealthCare with its widely used hormonal IUD Mirena and the launch of a new hormonal IUD Skyla in the U.S. and Jaydess in Europe in 2013.
The global implantable drug delivery devices market is segmented into the following categories:
Implantable Drug Delivery Devices Market by Product Types
- Implantable coronary drug eluting stents
- Implantable bio-absorbable stents
- Implantable contraceptive drug delivery devices
- Implantable intraocular drug delivery devices
- Implantable brachytherapy seeds
- Implantable drug infusion pumps
Implantable Drug Delivery Devices Market by Technology
- Biodegradable implantable drug delivery device technology
- Non-biodegradable implantable drug delivery device technology
Implantable Drug Delivery Devices Market by Applications
- Birth control/contraception
- Other (diabetes, chronic pain causing diseases)
Implantable Drug Delivery Devices Market by Geography
- North America
- Rest of the world (RoW)
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