Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Implantable Drug Delivery Devices Market size was valued at USD 29.4 billion in 2024 and is expected to reach USD 82.89 billion by 2037, registering around 8.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of implantable drug delivery devices is assessed at USD 31.47 billion.
The growth of the market can be attributed to the increasing prevalence of chronic diseases globally, such as cardiovascular diseases, auto-immune diseases, diabetes, and others. Additionally, the growing number of aging populations in various countries has increased the risk of getting chronic diseases. As a result, there is an increasing influx of patients for surgeries using implantable drug delivery devices, which is estimated to boost the market growth. According to World Health Organization (WHO), in 2020, approximately 10 million individuals have died due to cancer, and it has been recognized as the leading cause of death globally. Rising concern among governmental organizations for developing better medical devices to provide high-level safety standards to the patients has created significant growth opportunities for the implantable drug delivery device market over the forecast period. Moreover, the growing preference of the patients for drug delivery device products on the back of its high efficiency has also contributed towards the global market growth.
Implantable Drug Delivery Devices Sector: Growth Drivers and Challenges
Growth Drivers
- Emergence of Novel Medical Devices and Products
- Increasing Incidence of Chronic Diseases
Challenges
- High Cost of Implantable Drug Delivery Devices
- Stringent Government Regulations
Implantable Drug Delivery Devices Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
8.3% |
|
Base Year Market Size (2024) |
USD 29.4 billion |
|
Forecast Year Market Size (2037) |
USD 82.89 billion |
|
Regional Scope |
|
Implantable Drug Delivery Devices Segmentation
The implantable drug delivery devices market is segmented on the basis of products into contraceptive implants, spinal implants, brachytherapy seeds, drug-eluting stents, bio-absorbable stents, intraocular implants, infusion pumps, and others, out of which, the drug-eluting stents segment is expected to dominate the global market during the forecast period, in terms of revenue, on account of increasing implementations of these implants in the medical industry for various indications such as cancer treatment, contraception, hormone regulation, and others.
Based on type, the biodegradable products segment is expected to witness significant growth over the forecast period in the market on the back of the its advantages over non-biodegradable products, which includes easy absorption, fabrication, and excretion of inter-polymers, greater acceptance rate, positive outcome, and others.
Our in-depth analysis of the global market includes the following segments:
|
Product |
|
|
Type |
|
|
Application |
|
|
End-User |
|
Want to customize this research report as per your requirements? Our research team will cover the information you require to help you take effective business decisions.
Customize this ReportImplantable Drug Delivery Devices Industry - Regional Synopsis
Geographically, the implantable drug delivery devices market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific industry is predicted to account for largest revenue share by 2037, on account of steadily increasing healthcare expenditure and rising concern & awareness for the development of advanced devices in the region. Additionally, the rising population among Asian countries such as China, India, and others has significantly increased the disease prevalence rate and patient influx in the hospitals and other healthcare service providers, which is expected to further boost the market growth in the region.
Furthermore, in 2022, the market in North America region held the highest shares in the global market, on the back of increasing investments by the private and governmental organizations to develop advanced implantable drug delivery devices owing to the increasing cases of cancer, diabetes, cardiovascular diseases, and others. Additionally, major implantable drug delivery product manufacturers in the North American market have increased the market’s growth.
Companies Dominating the Implantable Drug Delivery Devices Landscape
- Boston Scientific Corporation
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Merck & Co., Inc.
- Medtronic
- Allergan, Inc.
- Bayer AG
- Abbott Laboratories
- DSM Biomedical
- Varian Medical Systems, Inc.
- Teleflex Incorporated
- Bausch and Lomb Incorporated
In the News
Author Credits: Radhika Pawar
- Report ID: 3281
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
