Implantable Drug Delivery Devices Market, by Product Type (Drug Infusion Pumps, Intraocular Drug Delivery Devices, Contraceptive Drug Delivery Devices, and Stents) by Technology (Biodegradable Implants and Non-biodegradable Implants), by Application (Ophthalmology, Cardiovascular, Birth Control/Contraception, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Sep 2020

Code : CMI1103

Pages :144

Formats :

Excel and PDF

Industry : Medical Devices

Market Challenges And Opportunities

Global Implantable Drug Delivery Devices – Restraints

Product recalls are expected to restrain growth of the global implantable drug delivery devices market growth. For instance, in 2019, the U.S. FDA recalled the SynchroMed II systems, which was manufactured by Medtronic Plc. Deaths were reported in the patients who were implanted with the SynchroMed II system due to software and mechanical faults that led to the infusion of more or less amount of the drug than the already set value.

The implantable drug delivery devices are expensive. For instance, on February 24, 2020, it was reported that the price of Supprelin LA implant, which is implanted under the skin for the treatment of central precocious puberty, had a price of US$ 37,300. Supprelin LA releases 65 micrograms of the drug a day (histrelin acetate).

Increase in acceptance and patient compliance for implantable drug delivery devices is expected to propel the market growth

Implantable drug delivery devices offer several advantages over conventional oral or parenteral dosage form such as protection against gastrointestinal tract denaturation and higher absorption across the wall of intestine or stomach. Secondly, the amount of drug reaching the target should be large to obtain the desired therapeutic effect. Another factor that increases acceptance and patient compliance over traditional mode of administration of drug is the biodegradable systems, which has gained momentum over non-biodegradable delivery system due to the fact that inert polymer used for the fabrication of the device eventually gets absorbed and excreted by the body, alleviating the need for surgical removal of implant after therapy. These factors are expected to propel the market growth over the forecast period.

Increasing global burden of non-communicable diseases is expected to propel growth of the implantable drug delivery devices market

According to a report by World Health Organization (WHO), 2017, chronic diseases are the major cause of disabilities, worldwide. The estimated global burden by 2020 is 60%. Moreover, 73% of deaths in 2020 is expected to be due to chronic diseases. Four of the most prominent chronic diseases are cardiovascular, cancer, pulmonary, and type 2 diabetes.

Implantable drug delivery devices offer unique patient solutions for chronic diseases. For instance, in 2019, Flowonix Medical, Inc. received the U.S. Food and Drug Administration (U.S. FDA) approval for its Prometra II 40 mL Programmable Pump and its associated programmer software. Prometra II 40 mL Programmable Pump is utilized for the intrathecal infusion of Infumorph (preservative-free morphine sulfate sterile solution) or preservative-free sterile 0.9% saline solution (Sodium Chloride Injection, USP) to the cancer patients in order to reduce the pain.