Friday, 24 February 2017

Implantable Drug Delivery Devices Market - Global Industry Analysis, Size, Share, Trends And Forecast 2018

Implantable drug delivery devices are drug eluting devices implanted at targeted sites for therapeutic applications. The global implantable drug delivery devices market was valued at USD 11.6 billion in 2011 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. The Asian implantable drug delivery devices market held a market share of over 15% in 2011 and will register the fastest CAGR during 2012 to 2018 owing to economic development in emerging economies such as India and China.
In terms of market leaders for individual product segments, Medtronic led the market in the global implantable infusion pumps market in 2011; however, its market share is expected to plummet by 2018 due to the Class I product recall of SynchroMed II in 2012. On the other hand, Boston Scientific Corporation dominated the coronary drug eluting stents market in 2011. Furthermore, Allergan Inc. will dominate the global intraocular drug delivery market in the coming years, owing to the growing popularity of its biodegradable implant – “Ozurdex.”
The global market for implantable drug delivery devices has been classified on the basis of products, application, technology, and regions in this market study. Implantable bio-absorbable stents, implantable coronary drug eluting stents, implantable contraceptives, implantable drug infusion pumps, implantable intraocular devices, and implantable brachytherapy seeds are the main components of the implantable drug delivery devices products market. Likewise, biodegradable and non-biodegradable technologies are the two segments of the market segment based on technology. Cardiovascular disorders, oncology, contraception/birth control, ophthalmology, and others such as chronic pain conditions and diabetes are the key application areas for implantable drug delivery devices, states the report.Regionally, North America dominated the global market for implantable drug delivery devices in 2011. However, analysts predict that the market share of North America will plummet during the forecast period, whereas, the market in the Asia Pacific will gain significant market share during the same period owing to the rapid development of emerging economies such as China and India in this region.
The report also analyzes the profiles of key market participants in order to study the existing competitive landscape of the global implantable drug delivery devices market. The market hierarchy is also presented in this report. Merck, Medtronic Inc., Bausch & Lomb Inc., Allergan Inc., Bayer Healthcare, Psivida Corp., Nucletron, Abbott Laboratories, and Boston Scientific Corp. are the major players operating in this global market.In 2011, Medtronic dominated the global implantable infusion pumps market. However, analysts expect its market share to decline over the forecast period as the drug maker had to recall its Class I product, SynchroMed II in 2012. On the other hand, Boston Scientific Corp. led the market for coronary drug eluting stents in 2011. Further, Allergan Inc. is expected to dominate the global market for intraocular drug delivery over the forecast period due to the rising popularity of Ozurdex, the biodegradable implant of Allergen, reports the market study.
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