Implantable Drug-eluting Devices Market is expected to surpass the US$ 10 Bn mark by 2019 end – Future Market Insights

Increasing Cases of Chronic Illnesses Stimulate Implantable Drug-Eluting Devices Market Growth, Says FMI

Valley Cottage, United States - November 18, 2019 /MarketersMedia/ —

Implantable drug-eluting devices are gaining good reputation in addressing chronic illnesses, such as diabetes, and cardiovascular diseases (CVD). Chronic disorders are leading causes of mortalities in various developed and developing countries. The situation is becoming graver in tandem with the need for treatment with nil or minimum side effects. Implantable drug-eluting devices, owing to controlled and target-centric factors, are becoming commonplace in medical settings.

Complemented by compatibility with specific drug dosing, implantable drug-eluting devices are weeding off the issue of complicated delivery routine and systemic toxicity of traditional drug dosage methods. Innovators are rolling up their sleeves to develop space-age implantable drug-eluting devices, driven advancements in micro and nanotechnology. For instance, Merck & Co. are developing slow-release antiretroviral (ARV) drug implant as a worthwhile solution for treating HIV.
Owing to surging incidents of diabetes and CVDs, market players are eyeing North America and Europe for sustainable returns. Encouraged by the benefits of target-specific drug delivery, FMI estimates the global implantable drug-eluting devices market to surpass US$ 10 Bn in 2019, and projects the market to progress at a promising CAGR of ~6% over the forecast period (2019-2029).

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Passive Implantable Drug-Eluting Devices Lead the Race

Active implantable drug-eluting devices offer greater level of control of drug targeting as they possess positive driving force to handle the drug targeting from the devices. However, active implantable drug-eluting devices are associated with high degree of complexity which translates increased development expenses.

Passive implantable drug-eluting devices are garnering significant traction owing to the drugs enclosed within biocompatible polymer molecules, finds FMI. Further, they provide the feature of modifying various aspects, including surface properties, and drug concentration. Non-biodegradable implantable devices are being exhaustively leveraged for contraceptive delivery. In addition, they exhibit high structural rigidity and robustness throughout their life span.

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On the contrary, non-biodegradable drug-eluting implantable devices result in tissue damage, infections, and cosmetic deformity. Developed to outweigh the setbacks of non-biodegradable implantable devices, the biodegradable version is derived from polymers that undergo degradation into smaller fragments easily, that is eventually eliminated or absorbed by the body. As such, biodegradable implantable drug-eluting devices represent accelerated growth despite the supremacy of their non-biodegradable counterparts.

Analysts at FMI suggest that “Implantable drug-eluting devices are observing wide acceptance on grounds of cost-efficient solutions, and innovative drug delivery methods. They ensure minimal side effects after delivery while treating chronic illnesses as well as during birth control. Consequently, demand for implantable drug-eluting devices is expected to grow moderately.”

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