SAN FRANCISCO, July 9, 2018 /PRNewswire/ --
The global implantable drug delivery devices market size isexpected to reach USD 31.6 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.5% CAGR during the forecast period. Growing incidence of chronic diseases, coupled with rising demand for
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Recent advancements in medication administration technologies are expected to fuel market growth over the forecast period. Increase in adoption of micro-scale implantable devices is one of the key factors fueling growth. These products find application in monitoring improvement in body functions, imaging, and medication administration. They facilitate localized treatment with controlled drug administration and enable targeted delivery of therapeutics to tissues.
These devices help overcome limitations of intravenous, oral, and topical administration routes, thus broadening the growth prospects of the market. In addition, advent of biodegradable implants enables targeted delivery of chemotherapeutics to tumor cells without damaging normal cells. Drug releasing implants are also helpful in treatment of inoperable tumors such as that of liver, brain, and lungs, due to their location and size. These devices help in reducing tumor size, which enables surgical removal of tumors. The aforementioned benefits of these devices are expected to impel their adoption over the forecast period.
Manufacturers are focused on developing novel drug delivery devices to gain maximum market share, which has resulted in launch of various technologically advanced products in the market. For instance, in February 2017, Delpor, Inc., a biotechnology company in U.S., announced the launch of an implantable device for long-term delivery of therapeutics.
Browse full research report with TOC on "Implantable Drug Delivery Devices Market Analysis Report By Type (Biodegradable, Non-biodegradable), By Product, By Technology (Diffusion, Osmotic, Magnetic), By Application, And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/implantable-drug-delivery-devices-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global implantable drug delivery devices market on the basis of product, type, technology, application, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.
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