Implantable Drug Delivery Devices Market Size, Share & Trends Analysis Report By Material (Silicon, Others), By Product Type (Implantable Drug Eluting Stents, Implantable Contraceptive Drug Delivery Devices, Implantable Intraocular Drug Delivery Devices, Implantable Brachytherapy Seeds Devices, Implantable Drug Delivery Pump Devices), By End-User (Hospitals, Ambulatory Surgery Centers, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global implantable drug delivery devices industry market size was valued at USD 8,731.80 million in 2022. It is projected to reach USD 17,896.16 million by 2031, growing at a CAGR of 8.30% during the forecast period (2023-2031). 

Implantable drug delivery systems are medical devices that allow for targeted drug administration. In addition, it aids in minimizing drug doses to reduce potential side effects. These devices allow for the sustained administration of a therapeutic agent. These implantable devices are gaining ground over conventional oral or parenteral dosage forms due to their site-specific and sustained-release therapeutic action, further reducing drug-related side effects. Moreover, the treatment schedule associated with an implantable device is typically less demanding than that of pills or injections.

The market for implantable drug delivery devices is driven by an increase in the prevalence of chronic diseases worldwide, an increase in the demand for minimally invasive drug delivery devices, and a period of unwanted pregnancies. However, the risk of implanted device failure and stringent government regulations inhibit market expansion. On the other hand, market growth opportunities for implantable drug delivery devices are anticipated to be lucrative due to collaboration activities among market leaders.

Highlights

• The other segment is the highest contributor to the market by material.
• The implantable drug-eluting stents segment is the major contributor to the market by product type.
• The hospital segment is the highest contributor to the market by end-user.
• North America is the major revenue contributor by region.

Market Dynamics

Global implantable drug delivery devices market drivers

Rising demand for minimally invasive drug delivery systems

Due to the demand for less invasive procedures, medication delivery device preference has increased significantly in recent years. Patients who undergo minimally invasive surgery benefit from quicker recovery times, less invasion during surgery, and decreased postoperative pain. Patients choose minimally invasive techniques over open surgeries since the former requires less time in the hospital. In medical environments like hospitals and clinics, minimally invasive procedures are used. This is attributable to the high precision and cost-effective solutions such surgeries provide. Patients worldwide accept minimally invasive drug delivery systems since there is less postoperative trauma.

Rise in the prevalence of chronic conditions

The high prevalence of chronic diseases such as chronic respiratory diseases, cardiovascular diseases, diabetes, and cardiac disorders brings on worldwide mortality and morbidity. According to the WHO, the leading cause of mortality among the numerous chronic diseases is cardiovascular disease, which accounts for over 30% of fatalities globally. Moreover, 18.2 million persons aged 20 and older will have coronary artery disease (CAD) in 2020. These elements are projected to increase the demand for efficient medical interventions, such as implanted drug delivery systems and procedures for lowering the global death rate. Therefore, rising CAD prevalence and death rates from coronary artery disease are anticipated to spur market expansion.

Global implantable drug delivery devices market restraint

Failure of an implanted device is a possibility

Some drawbacks of implantable drug delivery systems include implant failure, termination, restriction to powerful medications, problems with biocompatibility, and the potential for severe responses. Unwanted issues could arise both during and after the installation of an implantable device. The implantation process can have rare but significant side effects, such as drug withdrawal, the recurrence of underlying illnesses, and the requirement for surgery to replace the device. Each of these issues can be handled successfully. Nevertheless, several problems with implanted device system dysfunctions could be fatal. For instance, in 2019, Medtronic recalled the implantable drug infusion pump SynchroMed II because it may have had extraneous objects inside the pump motor assembly, which might have caused the motor to stop.

Global implantable drug delivery devices market opportunities

Collaboration efforts between major players

The amount of money invested in healthcare and infrastructure has significantly increased in developing nations like Brazil, India, and China. Emerging countries must also concentrate on cost-effectiveness and scalability to meet the demands of an increasing patient pool. The need for implantable medication delivery systems is fueled by the rise in the prevalence of chronic diseases and the population size in emerging nations. By 2023, one-third of global health spending will be devoted to the provision of healthcare services in emerging economies, according to a research paper published by the World Economic Forum in January 2017 titled Health Systems Advancing in Emerging Economies. In addition, it predicted that healthcare spending in China and India would rise in tandem with their economies. To create effective treatments with fewer side effects, medication delivery device makers are also working with prominent players to increase their foothold in these developing markets.

Regional Analysis

The implantable drug delivery devices market is bifurcated into four regions: Europe, North America, Asia-Pacific, and LAMEA. 

North america dominates the global market

North America is the most significant revenue contributor and is expected to exhibit a CAGR of 7.90% during the forecast period. The United States, Canada, and Mexico are the three major North American nations in the research. Due to the increase in the prevalence of chronic diseases, the introduction of novel technologies, and the rising demand for minimally invasive drug delivery systems, North America contributes the most significant portion of worldwide revenue. It is a mature market for implantable drug delivery devices. According to the WHO, cardiovascular disease is the leading killer among the many chronic diseases, accounting for over 30% of fatalities globally. The high prevalence of coronary artery disease and other heart conditions in the area is to blame for this.

Europe is expected to exhibit a CAGR of 8.40% during the forecast period. The UK, Germany, Spain, France, and Italy are the five nations that comprise the European market being examined. The UK has become the region's most lucrative market for implanted drug delivery systems. During the research period, it is projected that the high acceptance of percutaneous coronary intervention (PCI) using drug-eluting stent operations and the presence of a sizable pool of cancer patients will maintain the trend. Germany dominated the implantable drug delivery devices market, but Spain is predicted to experience the most robust growth throughout the projected period. In Europe, brachytherapy is becoming more popular as a novel prostate cancer treatment option.

Five nations make up the Asia-Pacific market for implantable drug delivery systems, with varying patterns of healthcare knowledge. The study considers Australia, South Korea, Japan, China, and India. Due to its large population, rising disposable incomes, and growing patient awareness of medication delivery devices, Asia-Pacific offers lucrative potential for market participants engaged in implanted drug delivery devices. In the past few years, this area has been the core of epidemics of cancer, lung ailments, diabetes, and cardiovascular disorders. China has seen an upsurge in the prevalence of coronary artery disease in recent years. Increased CAD cases feed the need for cutting-edge implantable drug-eluting stents to fill the nation's unmet medical demands.

Brazil, Saudi Arabia, South Africa, and the rest of LAMEA are all included in LAMEA. The industry for implantable drug delivery devices in LAMEA is driven by an increase in the prevalence of chronic cardiac illnesses, a rise in demand for less invasive drug delivery systems, and population growth. The implanted drug delivery devices market in this area is also anticipated to be driven by favorable government policies, including increased government financing, initiatives to raise awareness of drug delivery devices, and entry of essential companies. The prevalence of lifestyle illnesses is expected to rise, and understanding of drug delivery technologies such as drug-eluting stents, bio-absorbable stents, contraceptive drug delivery systems, intraocular drug delivery systems, brachytherapy seeds, and insulin infusion pumps is expected to rise as well.

Segmental Analysis

The global implantable drug delivery devices industry is segmented by material, product type, and end-user.

Based on material, the global implantable drug delivery devices market is bifurcated into silicon and other.

The other segment is the highest contributor to the market and is estimated to grow at a CAGR of 8.30% during the forecast period. Other materials include non-biodegradable ones like polyethylene-vinyl acetate (PVA), thermoplastic-polyurethane (TPU), and others, as well as biodegradable ones like Polyestemraide PEA, poly lactic-co-glycolic acid (PLGA), and others. The shortcomings of non-biodegradable implants were addressed with the development of biodegradable implants. These gadgets are constructed of polymers or block co-polymers that can be disassembled into smaller pieces that are subsequently eliminated by the body or ingested. Implanon, Synchromed, and Vitrasert are a few examples of non-biodegradable implants, and Ozurdex, an intraocular medication delivery system, is a biodegradable implant.

Due to their good biocompatibility and massive surface area, silicon nanoparticles have established themselves as excellent options for medical applications, such as drug delivery devices. Biocompatibility, stability, and durability are essential properties to consider when choosing materials for drug delivery, except for biodegradable drug delivery systems, as well as the materials' capacity to regulate the release of active pharmaceutical ingredients (APIs). Given their high chemical inertness, variety of stable mechanical properties, and ability to mix different APIs inside the matrix, silicones have long been a preferred medium for drug administration. Medication loading into the silicone is typically inversely correlated with the release rate.

Based on product type, the global implantable drug delivery devices industry is bifurcated into implantable drug-eluting stents, implantable contraceptive drug delivery devices, implantable brachytherapy seeds devices, implantable intraocular drug delivery devices, implantable drug delivery pump devices.

The implantable drug-eluting stents segment owns the highest market and is estimated to exhibit a CAGR of 8.90% during the forecast period. A peripheral or coronary stent known as a drug-eluting stent (DES) is inserted into clogged, sick peripheral or coronary arteries. It releases a medication to limit cell division over time. Drug-eluting stents have medication coated on them that is removed (eluted) to stop the formation of scar tissue in artery walls. The eluted medication aids in maintaining the smooth, exposed state of the arteries, ensuring proper blood flow and reducing the risk of restenosis. As a result of its numerous advantages, including improved vessel repair, minimally invasive nature, and decreased need for prolonged dual antiplatelet therapy, DES is recognized as the gold standard for treating coronary heart disease.

Progestogen-containing contraceptive implants are implantable medical devices placed under the skin of a woman's upper arm to prevent ovulation and pregnancy that is not desired. More than 60 nations have approved the use of several contraceptive implants. For instance, in the US, doctors only offer and recommend the Nexplanon contraceptive implant. The 68 mg etonogestrel rod found in Implanon and Nexplanon is effective for around three years. A few more implants on the market are Sino-implant (II), Jadelle (Norplant II), and others.

Controlled drug delivery devices made of biodegradable or non-biodegradable polymers are known as intraocular implants. These are often inserted into the vitreous through an opening in the ocular pars plana, which is anterior to the retina and posterior to the lens. Despite the invasive nature of the implantation approach, these implants provide several benefits that outweigh the discomfort of the treatments. The blood-retina barrier is broken, allowing for therapeutic medication to be delivered directly to the target location; this prolongs drug delivery; there are fewer adverse effects than are often associated with intravitreal injections and systemic administration. This has increased consumer demand for novel intraocular drug delivery systems and boosted product sales, fueling the market's expansion.

Brachytherapy is a cutting-edge cancer treatment that involves the placement of radioactive sources in or close to tumors to give them a high radiation dose while sparing the healthy tissues around them. Doctors insert 80 to 120 tiny radioactive seeds into the prostate during this surgery. Depending on the patient, this treatment may be carried out as an inpatient or an outpatient procedure. These seeds are injected into the prostate, delivering radiation to shrink the tumor and the prostate gland. After a few months, they cease to exist. Radiation can kill specific cancer cells since they are far more sensitive to radiation than healthy cells.

Based on end-user, the global implantable drug delivery devices market is bifurcated into hospitals, ambulatory surgery centers, and others.

The hospital segment is the major contributor to the market and is estimated to exhibit a CAGR of 9.20% during the forecast period. Hospitals have skilled nursing, medical staff, and specialized medical gear. In hospitals, implantable drug delivery systems are frequently utilized to give patients their drugs and fluids. For instance, hospitals use implanted coronary stents to perform percutaneous coronary intervention (PCI) and angioplasty procedures. Due to the need for experienced experts, hospitals are where medication delivery device implants are most frequently carried out. Due to their success in treating chronic conditions such as coronary heart disorders, these devices are used in regular cardiology treatment.

An ambulatory surgical center (ASC) is a type of hospital that performs surgery without requiring patients to stay overnight. ASCs initially offered treatments for several medical disciplines, including urology, orthopedics, ophthalmology, and pain management. However, their treatments have improved over the past few years due to the rising popularity of ASCs and their cost-effectiveness and availability of high-quality alternatives to hospital-based therapy. As a result, there will be greater demand for sophisticated drug delivery systems in ambulatory surgical centers and a greater need for cost-effective healthcare facilities. Additionally, doctors in clinics offer outpatients medical care or advice, particularly in specialized instances.

Recent Developments

• February 2022- TAKHZYRO (lanadelumab-fly) injection single-dose prefilled syringe (PFS), manufactured by Takeda, was given FDA approval. This medication is used to treat adult and pediatric patients 12 years of age and older and to prevent attacks of hereditary angioedema (HAE).
• February 2022- The UniSafe 1mL safety device for prefilled syringes was approved as a combination product in Asia, according to a report from Owen Mumford Pharmaceutical Services, a division of Owen Mumford Ltd.​