Implantable Drug Delivery Devices Global Market Report 2024

The implantable drug delivery devices market size has grown strongly in recent years. It will grow from $19.66 billion in 2023 to $21.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The expansion observed in the historical period can be attributed to several factors, including an aging population, a higher prevalence of chronic diseases, increased consumer awareness, a growing emphasis on preventive healthcare, and a rising demand for personalized medicine.

The implantable drug delivery devices market size is expected to see strong growth in the next few years. It will grow to $28.91 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be attributed to various factors, including the adoption of customized drug delivery solutions, increased demand for minimally invasive surgeries, rising healthcare expenditure, the global expansion of healthcare services, developments in regenerative and genomic medicine. Notable trends expected in this period encompass technological innovations, advancements in biotechnology, the emergence of micro-implants, AI-powered dosage adjustment, synergies with telemedicine, the utilization of advanced biocompatible materials, and enhancements in drug delivery technology.

The increasing prevalence of target diseases such as diabetic retinopathy, cancer, cardiovascular conditions, and other chronic ailments is poised to be a driving force behind the growth of the implantable drug delivery devices market. Notably, in October 2022, the World Health Organization (WHO) reported a 3% rise in the burden of drug-resistant tuberculosis (DR-TB) between 2020 and 2021, with 450,000 new cases of rifampicin-resistant TB (RR-TB) in 2021. This marked the first increase in TB and drug-resistant TB cases in several years. The site-specific drug administration capabilities of implantable drug devices have played a crucial role in treating these target diseases, fueling the demand for such devices in the market.

The primary product categories within the domain of implantable drug delivery devices include contraceptive implants, spinal implants, brachytherapy seeds, drug-eluting stents, bioabsorbable stents, intraocular stents, infusion pumps, and various other devices. Spinal implants, for instance, aid surgeons in treating deformities, providing spinal stability, and promoting fusion during surgical procedures. These devices employ a range of technologies, including diffusion, osmosis, magnetic mechanisms, and others. They find applications in a variety of medical fields, such as contraception, ophthalmology, cardiovascular treatments, diabetes management, oncology, the treatment of autoimmune diseases, and other medical areas.

The implantable drug delivery devices market research report is one of a series of new reports that provides implantable drug delivery devices market statistics, including implantable drug delivery devices industry global market size, regional shares, competitors with an implantable drug delivery devices market share, detailed implantable drug delivery devices market segments, market trends and opportunities, and any further data you may need to thrive in the implantable drug delivery devices industry. This implantable drug delivery devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing incidence of chronic diseases is also expected to be a significant driver of growth in the implantable drug delivery devices market. Chronic diseases are characterized by their long-lasting nature, lasting for three months or more. Implantable drug delivery devices are increasingly being employed to facilitate controlled and long-term medication administration for chronic diseases, thereby improving patient adherence and treatment efficacy. For instance, the World Health Organization (WHO) reported in September 2022 that chronic diseases are responsible for 74% of global deaths, with 41 million fatalities each year. This includes 17.9 million deaths from cardiovascular diseases, 9.3 million from cancer, 4.1 million from chronic respiratory diseases, and 2.0 million from diabetes. Consequently, the escalating prevalence of chronic diseases is a key driver behind the growth of the implantable drug delivery devices market.

The market is expected to face challenges due to the increasing number of product recalls and legal disputes associated with implantable drug delivery devices in recent years. For instance, in June 2022, Medtronic plc issued a recall of Cobalt XT, Cobalt, and Crome Implantable Cardioverter Defibrillators (ICDs) and Cardiac Resynchronization Therapy Defibrillators (CRT-Ds). The recall was prompted by reports of devices generating a short circuit protection (SCP) alert, resulting in the delivery of reduced-energy electric shocks instead of the intended high-voltage therapy. This malfunction could lead to device failure and irregular heartbeats, potentially causing more serious health issues. Consequently, the growing number of product recalls and legal disputes associated with implantable drug delivery devices is likely to impede the market's growth.

Innovation efforts within the industry are focused on the development of 3D printing materials to support implantable drug delivery devices. These materials are used in additive manufacturing processes, such as 3D printing, to create customized and precise drug delivery systems. For instance, a study published in 2022 proposed the use of 3D-printed implants in combination with biodegradable rate-controlling membranes to produce devices capable of sustained delivery of hydrophobic drugs.

Major companies operating in the implantable drug delivery devices market are pursuing strategic partnerships to create an ultrasonic, non-invasive ocular drug delivery device. These partnerships involve companies collaborating and leveraging their respective strengths and resources for mutual benefits and success. For example, in May 2022, Opharmic Technology, a Hong Kong-based medtech company, partnered with CeramTec, a Germany-based chemical industry company, to develop innovative technology for non-invasively delivering drugs to the eyes. The aim is to replace intravitreal injections by using ultrasound-induced microstreaming to allow drug molecules to diffuse into the target eye tissue. This has the potential to revolutionize the treatment of various eye conditions.

In February 2022, Second Sight Medical Products, a California-based prosthetic device manufacturer, merged with Nano Precision Medical, a developer of NanoPortal drug implant technology. This merger paves the way for collaborative efforts in the development of drug delivery medical implants.

Major companies operating in the implantable drug delivery devices market include AbbVie Inc., Bayer HealthCare, Medtronic Inc., Nucletron, Boston Scientific Corporation, Abbott Laboratories, Bausch and Lomb Inc., Merck & Co. Inc., Genentech Inc., EyePoint Pharmaceuticals Inc., DSM Biomedical, Delpor Inc., Teleflex Incorporated, 3M Company, Biotronik Inc., Alcon Inc., Terumo Corporation, Endologix Inc., TransEnterix Inc., China Grand Pharmaceutical and Healthcare Holdings, Innocoll Biotherapeutics, Atossa Therapeutics Inc., Intersect ENT, Microchips Biotech, Theradaptive Inc., CollPlant, Intarcia Therapeutics, Glaukos Corporation

North America was the largest region in the implantable drug delivery devices market in 2023. Asia-Pacific was the second-largest region in the implantable drug delivery devices market report. The regions covered in the implantable drug delivery devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the implantable drug delivery devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The implantable drug delivery devices market consists of sales of contraceptive implants, spinal implants, brachytherapy seeds, drug-eluting stents, bio-absorbable stents, intraocular stents, infusion pumps, and others. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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