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    Implantable Drug Delivery Devices Market Report

    Implantable Drug Delivery Devices Market Report
    Report code - SR1482 Delivery - 2 Weeks
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    Implantable Drug Delivery Devices Market Trends, Dynamics & Market Insights
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    Impact of COVID-19 on Implantable Drug Delivery Devices Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Implantable Drug Delivery Devices Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Implantable Drug Delivery Devices Market is estimated to grow from USD 10.6 billion in 2020 to USD 16.7 billion by 2026 at a healthy CAGR of 8.0% during the forecast period.

    Figure: Implantable Drug Delivery Devices Market Size, 2020-2026 (USD Billion)

    Implantable-Drug-Delivery-Devices-Market-Forecast

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    What are implantable drug delivery devices?

    Implantable drug delivery devices are referred to the medical devices which enable site-specific drug administration. It also enables minimizing doses of the drug to reduce potential side effects. These devices facilitate the sustained release of a therapeutic agent. These implantable devices are gaining popularity over conventional oral or parenteral dosage forms, due to site-specific and sustained release therapeutic action of implantable devices, which further reduces the side effects associated with the drug.

    Key Players

    Key players operating in the implantable drug delivery devices market are-

    • Allergan PLC (UK)
    • Boston Scientific Corporation (US)
    • Bausch and Lomb Inc. (Canada)
    • Medtronic PLC (UK)
    • Alcon Inc. (Switzerland)
    • Teleflex Incorporated (US)
    • DSM Biomedical (Netherlands)
    • Delpor Inc. (US)
    • 3M Company (US)

    Market Dynamics

    The growth of the implantable drug delivery devices market is propelled by a surge in the prevalence of chronic diseases around the world, a rise in demand for minimally invasive drug delivery devices, and unwanted pregnancies over some time. Moreover, strong collaboration activities among leading players are anticipated to offer lucrative growth opportunities for the implantable drug delivery devices market. However, the possibility of implanted device failures as well as stringent government regulations is likely to hamper the industry growth.

    Segments' Analysis

    Application Trends

    Based on application, the market has been classified into contraception, ophthalmology, cardiovascular, diabetes, oncology, autoimmune diseases, and others. The cardiovascular segment accounted for a substantial market share in 2020. This is mainly attributed to an increase in the patient population suffering from cardiovascular diseases, which boosts the clinical urgency to develop advanced devices. As a result, global players have developed bioabsorbable stents which are gradually absorbed and excreted by the body, further bolstering the segment growth.

    Regional Trends

    The market in North America accounted for the largest share in 2020 and is projected to continue its dominance during the review period. This is mainly attributed to the strong presence of well-developed healthcare infrastructure, increasing investment in R&D activities, the strong prevalence of cardiovascular diseases, higher adoption of these technologies, and favorable government initiatives. Moreover, the favorable reimbursement policies, high rate of R&D activities, and extensive new development activities, further proliferates the regional growth.

    COVID-19 Impact on Implantable Drug Delivery Devices Market

    The COVID-19 outbreak positively influenced the growth of the implantable drug delivery devices market. Also, to protect the population from coronavirus infection, people should keep away from all containment zones including hospitals. This can be possible by implanting drug delivery devices in patients, which offers an advantage of not personally visiting hospitals for follow-ups or treatment procedures as implantable drug delivery devices provide long-term drug delivery. Therefore, the COVID-19 pandemic is likely to augment the implantable drug delivery devices market growth during the review period.

    • What are the key trends in the implantable drug delivery devices market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the implantable drug delivery devices market?
    • What are the key strategies adopted by the major vendors to lead in the implantable drug delivery devices market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the implantable drug delivery devices market hopes to have the greatest opportunity to convert-

    • Implantable Drug Delivery Devices distributors
    • Implantable Drug Delivery Devices suppliers
    • Implantable Drug Delivery Devices manufacturers
    • Hospitals
    • Government bodies

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    Frequently Asked Questions (FAQs)

    The implantable drug delivery devices market is expected to witness an impressive growth of 8.0% CAGR in the coming years.

    Allergan PLC (UK), Boston Scientific Corporation (US), Bausch and Lomb Inc. (Canada), Med-tronic PLC (UK), Alcon Inc. (Switzerland), Teleflex Incorporated (US), DSM Biomedical (Nether-lands), Delpor Inc. (US), and 3M Company (US) are among the key players in the implantable drug delivery devices market.

    The implantable drug delivery devices market size is expected to reach USD 16.7 billion in the foreseeable future.

    The cardiovascular segment accounted for the substantial share in the implantable drug delivery devices market in 2020.

    North America is expected to remain dominant in the implantable drug delivery devices market in the next five years.

    Implantable Drug Delivery Devices distributors, Implantable Drug Delivery Devices suppliers, Implantable Drug Delivery Devices manufacturers, Hospitals, Government bodies are the target audience in the implantable drug delivery devices market.

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