#Cardiac Bio Implant Devices Market

[mitalipingale]

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The Cardiac Bio Implant Devices Market in 2023 is US$ 49.30 billion, and is expected to reach US$ 109.75 billion by 2031 at a CAGR of 10.50%.

[healthcaretoday1]

Factors propelling the growth of the cardiac monitoring & cardiac rhythm management devices market

According to the deep-dive market assessment study conducted by Growth+Market Reports, the global Cardiac Monitoring & Cardiac Rhythm Management Devices market was pegged at ~US$ 21 billion in 2020. The market is expected to witness a CAGR of ~4.0% from 2021 to 2031.

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Increasing occurrence of cardiovascular diseases, technological advancements, increasing awareness among the patients, and rising adoption of monitoring devices due to COVID-19 are some of the pivotal factors propelling the growth of the cardiac monitoring & cardiac rhythm management devices market. However, increase in recall of the defective devices and high cost of the devices are likely to hamper the growth of the market to a certain extent.

Prominent players are progressively implementing several strategies such as technological advancements and collaborative initiatives with several organizations, research centers & companies in order to be competitive in the market. For instance, in Aug 2019, Philips has announced plans to combine LindaCare’s cloud-based platform, designed to help remotely monitor patients with electronic cardiac implants, with its IntelliSpace Cardiovascular informatics program.

According to WHO, Cardiovascular diseases (CVDs) are the leading cause of deaths globally, accounting for an estimated 17.9 million lives each year, i.e. an estimated 31% of all deaths worldwide. According to CDC, one person dies every 36 seconds in the United States from cardiovascular disease. About 655,000 Americans die from heart disease each year—that’s 1 in every 4 deaths. As most of CVDs types can be prevented through regular monitoring and diagnosis, cardiac monitoring & cardiac rhythm management devices can save the life of patients with high risk.

Cardiovascular disease is among the severe conditions in critically ill patients with COVID-19 infection. It increases the risk of death in patients with COVID-19, whereas COVID-19 itself can also induce myocardial injury, arrhythmia, acute coronary syndrome and venous thromboembolism. Therefore, increasing COVID-19 patients rate is expected to drive supply and adoption of cardiac monitoring devices in hospitals.

However, increase in recall of the defective devices has affected the growth of market to a certain extent. Recall of defective products makes consumers lose interest in the products, and lead to negative effect on the product demand. The willingness to repeat purchase related products also declines, which in turn decreases the market volume and eventually hampers the market growth. For instance, in Feb 2019, Medtronic recalled around 13,440 dual chamber implantable pulse generators in the United States owing to a defect in the manufacturing process.

The Asia Pacific region is expected to record highest CAGR and is expected to be the fastest growing cardiac monitoring & cardiac rhythm management devices market. Factors such as developing healthcare infrastructure, rising R&D investments by prominent players to develop break-through technologies for cardiac care and availability of skilled health care professionals can be attributed for the growth of the market. Countries such as India, China, and Japan in the APAC region, are projected to offer significant growth opportunities owing to the increasing prevalence of cardiovascular diseases and rising geriatric population in the region.

Some of the prominent players operating in the cardiac monitoring & cardiac rhythm management devices market are GENERAL ELECTRIC COMPANY, Abbott, Boston Scientific Corporation, Koninklijke Philips N.V., Medtronic, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., SCHILLER, BIOTRONIK, BPL Medical Technologies, NIHON KOHDEN CORPORATION, among others.

[poojascmi]

India Coronary Stents Market to Experience High Growth Driven by Increasing Demand and Technological Advancements

A) Market Overview:

The India Coronary Stents Market is estimated to be valued at US$1,303.5 million in 2023. Coronary stents are small, mesh-like devices implanted in the arteries to keep them open and ensure proper blood flow, especially in patients with coronary artery disease. These devices play a crucial role in the management and treatment of heart-related ailments, preventing heart attacks and reducing the risk of complications. With the rising prevalence of cardiovascular diseases in India and the increasing adoption of innovative stenting technologies, the demand for coronary stents is expected to witness significant growth in the coming years.

B) Market Dynamics:

1. Increasing Prevalence of Cardiovascular Diseases:

India has been experiencing a steady rise in the incidence of cardiovascular diseases, primarily due to sedentary lifestyles, unhealthy eating habits, and the aging population. The growing burden of cardiovascular diseases has necessitated the need for advanced treatment options such as coronary stents, driving market growth.

2. Technological Advancements in Stenting Procedures:

Continuous advancements in stenting technologies, such as drug-eluting stents and bioresorbable stents, have significantly improved patient outcomes. These innovative stenting techniques offer better biocompatibility, reduced risks of restenosis, and improved long-term outcomes. The increasing adoption of these advanced stents is fueling market growth.

C) SWOT Analysis:

Strengths:

1. Technological Innovations: The market is witnessing continuous advancements in stenting technologies, leading to improved patient outcomes.

2. Growing Patient Pool: The rising prevalence of cardiovascular diseases in India presents a significant market opportunity.

Weaknesses:

1. Cost Concerns: High costs associated with coronary stent procedures limit their accessibility, especially in rural areas with limited healthcare resources.

2. Lack of Awareness: Many individuals in India, particularly in rural regions, have limited knowledge about coronary stents and their benefits.

Opportunities:

1. Increasing Healthcare Expenditure: The growing healthcare expenditure in India is expected to drive the adoption of advanced medical devices, including coronary stents.

2. Government Initiatives: Various government programs and initiatives aimed at improving access to healthcare services will contribute to India Coronary Stents Market growth.

Threats:

1. Competitive Market Landscape: The presence of key players and intense competition in the market may pose challenges for new entrants.

2. Stringent Regulatory Framework: Stringent regulations pertaining to medical devices and stenting procedures may hinder market growth.

D) Key Takeaways:

The India Coronary Stents Market is projected to exhibit a CAGR of 13.2% over the forecast period (2023-2030). Key takeaways from the market research report include:

The market is expected to witness high growth driven by increasing demand for coronary stents and technological advancements.

Regional Analysis: North India is expected to dominate the market due to a higher prevalence of cardiovascular diseases in this region.

Key Players: Abbott Laboratories, Medtronic, Inc., Biosensors Inc., Terumo Corporation, Boston Scientific Inc., Dickinson, and Company, Cook medicals, B Braun Melsungen AG, SLTL Medical, Endocare, Cardiac Care Products, Invent Bio-med Private Limited, Nano therapeutics Pvt Ltd, and MIV therapeutics are the major players operating in the India Coronary Stents Market.

In conclusion, the India Coronary Stents Market is poised for significant growth due to the increasing prevalence of cardiovascular diseases and the adoption of advanced stenting technologies. However, challenges such as high costs and limited awareness need to be addressed to ensure widespread accessibility and improved patient outcomes.

[businesspr]

Global Cardiac Bio Implant Devices Market Key Players and Upcoming Trends 2023

Cardiac Bio Implant Devices Market report is venues where customers and sellers come together to exchange products and services available. The fundamental concepts underpinning Cardiac Bio Implant Devices market 2023-2031 transactions include supply and demand, market structure, elasticity, and equilibrium state. Supply and demand determine the cost, while Cardiac Bio Implant Devices market…

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Cardiac Bio Implant Devices  Market 2021 is Booming Across the Globe by Segments, Share, Size, Growth and Forecast to 2028

Global Cardiac Bio Implant Devices  Market, Geography (North America (United States, Canada and Mexico), South America (China, Japan, Korea, India and Southeast Asia), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), Middle East and Africa (Saudi Arabia, Egypt, Nigeria and South Africa)) Industry Trends 2021-2028

<strong>Market Overview</strong> Illustrative analysis of critical sides such as resulting factors and competitive landscape are conveyed with the help of significant resources, such as charts, tables, graphs. The report executes a deep investigation of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also estimates the effect of different industrial sides on the Cardiac Bio Implant Devices   market divisions and regions. The research also divides the Cardiac Bio Implant Devices   Market on the basis of end-user, product type, application, and demography for the forecast period 2021–2028.

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<strong>Methodology</strong> The conditions influencing the market dynamics are considered and studied and examined to prepare an accurate report. In the report preparation process mainly two types of approaches are made- primary research approach and secondary research approach. In the primary research approach, both the supply and demand chain are interviewed where the supply chain consists of product, opinion leaders, etc. while the demand chain consists of industry experts. The secondary research approach involves various secondary sources like press releases, government agencies, and other commercial aspects of the market.

<strong>Report Summary</strong> Preparing a business report on Cardiac Bio Implant Devices    is the most important of all information-based writing because most of the business decisions are related to the organization after the evaluation of the situation as per the report. They are responsible for the documentation of the progress of the business and also serve several important purposes. The ability to write reports, quickly, and accurately is one of the key requirements of managers at every level. The reports allow them to convey vital information to subordinates and superiors. . The report on Cardiac Bio Implant Devices   prepared by us serves as a medium for understanding important business elements at the industrial and managerial level. Our report-making services entail flexible payment modes and budget-friendly rates.

<strong>Market segmentation</strong> The study splits the industry into a variety of sub-segments and thus represents the whole market. In addition, an estimate of the sales figures for the entire industry and its sub-segments are given in this report. It determines the variables that rapidly influence the market, including manufacturing methods and methodologies, channels for growth, and the product model. The report also outlines some of the biggest development opportunities, the introduction of the new products, market prediction, and forecasting, numerous economic factors that are key in deciding the Cardiac Bio Implant Devices  market pattern, buying decisions, and market attractiveness. The report would help stakeholders such as producers and distributors in finding and capturing high-potential markets. The research also addresses various environmental and regulatory critical factors.

<strong>Growth Mapping</strong> contains reason behind this report is to give a growth map with respect to the activities taken by key participants of the Cardiac Bio Implant Devices   market like item delivery, joint ventures,  influencing the Cardiac Bio Implant Devices   market and undertaking in general and furthermore influencing the business, import, fare, income and CAGR values. The report conveys the overall current realities about market definition, orders, applications, and commitment for the Cardiac Bio Implant Devices   market that are basic lead the market. The report moreover combines the overall organization profiles of the top players referred and also reflecting the drivers and limitations of the market with the support of SWOT analysis.

<strong>Top Listed Companies in the Cardiac Bio Implant Devices  Market Include</strong>

Abbott Laboratories, Inc.,Johnson & Johnson,Edwards Lifesciences Corporation,Boston Scientific Corporation,Abbott,Medtronic,Sorin Group

<strong>Reasons to buy this report:</strong> Learn about the Covid-19 Impact on Cardiac Bio Implant Devices   market strategies that are being adopted by leading respective organizations. To understand the future outlook and prospects for the market. Besides the standard structure reports, we also provide custom research according to specific requirements. To gain insightful analyses of the research Industry and have a comprehensive understanding of the global Cardiac Bio Implant Devices   market and its commercial landscape. To understand the future outlook and prospects for the Cardiac Bio Implant Devices   market with Marketing & Price (Price and Margin, Factors of Price Change, Manufacturers Gross Margin Analysis).

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<strong>Regional Analysis</strong> Different regions of the world such as North America, Latin America, the Asia-Pacific region, Europe, and India, China, and Australia have been analyzed on the basis of various parameters that would benefit the development of the market in the area. It contains the territorial as well as the wide level investigation of the market. It was observed that North America and Asia-pacific countries have shown impressive development opportunities in their region. Asia-Pacific nations due to such a large population in the area could be the prime region for developing a fully flourishing market full of consumer and low-cost labor. However, Europe, being a region of most developed countries seems to be lagging in the survey due to its climatic-driven guidelines which will affect the new settlement of the market.

<strong>Customization of the report: </strong> The customized report is provided by our consultancy at a reasonable price. We provide updated information according to the requirements of the customers in the market world.

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<strong>Frequently Asked Questions?</strong> Q1. What is the total market value of the Cardiac Bio Implant Devices  market report? Q2. What would be the forecast period in the Cardiac Bio Implant Devices  market report? Q3. What is the base year considered in the Cardiac Bio Implant Devices   market report? Q4. Which are the top companies hold the market share in the Cardiac Bio Implant Devices   market ? Q5. Which is expected to be the fastest growing segment in the Cardiac Bio Implant Devices   market? Q6. Which market holds the maximum market share of the Cardiac Bio Implant Devices   market ? Q7. How the company profile has been selected? Q8. What will be the market value of the Cardiac Bio Implant Devices  market in 2028?

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[mitalipingale]

The Cardiac Bio Implant Devices Market in 2023 is US$ 49.30 billion, and is expected to reach US$ 109.75 billion by 2031 at a CAGR of 10.50%.

[wemresearch]

Cardiac Rhythm Management Devices Market Analysis, Business Development, Size, Share, Trends, Future Growth, Forecast to 2030

The Cardiac Rhythm Management Devices Market is set to reveal a substantial upturn with a CAGR of 6.5% during the forecasted period of 2021 to 2030.

A variety of reasons, including the rising prevalence of cardiac illnesses, technological improvements, patient awareness, and the rising number of unmet medical requirements in developing and undeveloped nations, are driving the market. The market, on the other hand, is constrained by a lack of insurance coverage alternatives, the high cost of these devices, particularly in developing countries, and the preference for pharmaceuticals over treatment devices. In contrast, it is anticipated that during the forecast period, the development of new MRI-labeled devices and growth opportunities in the emerging economies of the Asia-Pacific and LAMEA regions will present opportunities for the growth of the cardiac monitoring & cardiac rhythm management industry.

The global market for cardiac monitoring and heart rhythm management devices is divided into segments based on the end user, the firm, and the region of distribution.

The market is divided into ECG devices, implanted loop recorders, mobile cardiac telemetry devices, cardiac output monitoring devices, and others based on cardiac monitoring equipment. Through the following five years, ECG devices are anticipated to continue to dominate the market. The main variables influencing segment demand are the increasing commercialization of novel products, regional expansions, technological improvements, and government initiatives. Defibrillators and pacemakers are the two main product categories in the market for cardiac rhythm control devices.

Cardiac Rhythm Management Devices Market: Segmentation Analysis

Based on the Product

Pacemakers

Implantable

External

Defibrillators:

S-ICD

T-ICD

Implantable Cardioverter Defibrillators (ICD)

External Defibrillator Cardia

Manual External Defibrillator

Automatic External Defibrillator

Wearable Cardioverter Defibrillator

Resynchronization Therapy (CRT)

CRT-Defibrillator

CRT-Pacemakers

Among all types, the Defibrillators segment dominated the CRM devices market by holding the largest share in terms of revenue in the global market. The Defibrillators segment held a share of 43.6% IN 2021. The dominance is attributable to rising adoption of Subcutaneous Implantable Defibrillator (S-ICD) and Transvenous Implantable Cardioverter Defibrillator (T-ICD) in major regional markets such as US, U.K., China and India. The External Defibrillator segment is anticipated to observe higher rate of 9.3% through the projected period owing to the rise in adoption of defibrillators.

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Top Key Players:-

ACS Diagnostics

Alivecor, Inc.

Asahi Kasei Corporation

Bexen Cardio

Biotelemetry

Biotronik

Boston Scientific Corporation

BPL Medical Technologies

BTL

GE Healthcare

Hill-Rom Holdings, Inc.

Koninklijke Philips N.V.

Lepu Medical Technology

Medtronic Plc

Metrax Gmbh

Microport Scientific Corporation

Narang Medical Limited

Nihon Kohden Corporation

Osypka AG

Schiller AG

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

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Frequently Asked Questions (FAQ):

How big is the cardiac rhythm management devices market?

What is the cardiac rhythm management devices market growth?

Which product segment led the cardiac rhythm management devices market?

Which region accounted for the largest CRM devices market share?

Who are the key players in the cardiac rhythm management devices market?

About We Market Research

WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.

Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

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Defibrillators Market Growth, Size, Analysis, Outlook by Trends, Opportunities and Forecast to 2022 to 2030

Defibrillators Market was worth USD 11.4 billion in 2021 and is poised to reach a valuation of USD 26.23 billion by 2030, registering a CAGR of 9.7% over the forecast period of 2022-2030.

The market is growing due to a growing focus on public access defibrillators (PAD) by both public and private organisations. Furthermore, the market is being driven by an increase in the number of key manufacturers developing sophisticated defibrillator devices, a rapidly rising geriatric population with an increased risk of cardiac arrest, and an increase in the frequency of cardiac disorders. Cardioversion, defibrillation, and cardiac pacing are all possible with defibrillators. Manual external defibrillators, automated external defibrillators (AEDs), and wearable cardioverter defibrillators are the three main types of external defibrillators (WCDs). Because of their great efficiency and ease of use, AEDs are commonly employed to treat sudden cardiac arrest (SCA), resulting in a considerable market share in the global defibrillator industry. However, increased pricing pressure on companies is putting a damper on the market.

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A defibrillator device depolarizes a fundamental segment of heart muscle, assisting in the restoration of a normal heartbeat. Many lives can be saved if SCA victims receive cardiopulmonary resuscitation (CPR) and defibrillation within 5 to 12 minutes after heart failure. The primary variables projected to promote the development sought after for defibrillators in the Middle East and Africa are increasing occurrences of cardiovascular disease and expanding social insurance framework. During the period 2014 to 2020, this will boost the worldwide defibrillator market's growth.

Global Defibrillators Market: Segmentations

By Key Players

Abbott

Boston Scientific Corporation

BIOTRONIK SE & Co. KG

MicroPort Scientific Corporation

Koninklijke Philips N.V.

Stryker Corporation

ZOLL Medical Corporation (Asahi Kasei)

Nihon Kohden Corporation

Schiller AG

Shenzhen Mindray Bio-Medical Electronics Co. Ltd.

LivaNova PLC

By Product:

• Implantable Defibrillators

• Transvenous Implantable Cardioverter Defibrillator (T-ICDs)

• Subcutaneous Implantable Cardioverter Defibrillator (S-ICDs)

• Cardiac Resynchronization Therapy- Defibrillator (CRT-D)

• External Defibrillators

• Manual External Defibrillator

• Automated External Defibrillator (AEDs)

• Wearable Cardioverter Defibrillator (WCDs)

By Patient Type:

• Adult

• Pediatrics

By End User:

• Hospitals

• Clinics and Cardiac centers

• Pre-hospital care settings

• Public access markets

• Home care settings

• Alternate care facilities

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Table Of Contents (TOC)

1. Global Defibrillators Market Introduction and Market Overview

2. Global Defibrillators Market - Executive Summary

3. Defibrillators Market Trends, Outlook, and Factors Analysis

4. Global Defibrillators Market: Estimates & Historic Trend Analysis (2018 to 2021)

5. Global Defibrillators Market Estimates & Forecast Trend Analysis, by Deployment

6. Global Defibrillators Market Estimates & Forecast Trend Analysis, by Component

7. Global Defibrillators Market Estimates & Forecast Trend Analysis, by Content Type

8. Global Defibrillators Market Estimates & Forecast Trend Analysis, by End Use

9. Global Defibrillators Market Analysis and Forecast, by Region

10. North America Defibrillators Market: Estimates & Forecast Trend Analysis

11. Europe Defibrillators Market: Estimates & Forecast Trend Analysis

12. Asia Pacific Defibrillators Market: Estimates & Forecast Trend Analysis

13. Middle East & Africa Defibrillators Market: Estimates & Forecast Trend Analysis

14. Latin America Defibrillators Market: Estimates & Forecast Trend Analysis

15. Competitive Landscape

16. Company Profiles

17. Assumptions and Research Methodology

18. Conclusions and Recommendations

 Key Questions answered in the India Defibrillators Market Report are:

1.     Which product segment grabbed the largest share in the India Defibrillators market?

2.     How is the competitive scenario of the India Defibrillators market?

3.     Which are the key factors aiding the India Defibrillators market growth?

4.     Which region holds the maximum share in the India Defibrillators market?

5.     What will be the CAGR of the India Defibrillators market during the forecast period?

6.     Which application segment emerged as the leading segment in the India Defibrillators market?

7.     Which are the prominent players in the India Defibrillators market?

8.     What key trends are likely to emerge in the India Defibrillators market in the coming years?

9.     What will be the India Defibrillators market size by 2028?

10.                        Which company held the largest share in the India Defibrillators market?

About We Market Research

WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.

Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. WE MARKET RESEARCH is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.

Contact Us:

We Market Research

Phone: +1(929)-450-2887

Email: sales@wemarketresearch.com

Web:

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Medical Technology Market SWOT Analysis including key players

The new statistical report titled as Medical Technology Market has recently published by Absolute Markets Insights. This study comprises mix data containing the recent trends, technological platforms, tools, and certain methodologies. It gives an overview of the market dynamics such as the changing needs of the clients in different regions. This research report offers a comprehensive analysis of different parameters of businesses like profit margin, shares and pricing structures. It has been compiled by using qualitative and quantitative analysis techniques. The valuable insights of businesses have been examined by using primary and secondary research methodologies in a particular manner.

A section containing the data about different factors influencing the progress of the Medical Technology market. This research report offers a bird’s eye view on the historical as well as current trends operating in the global Medical Technology market. Different market segment and its sub-segment have been elaborated to understand the market clearly. Leading key players have been profiled to get detailed data about company profiles, contact details, and revenue of the companies.

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The Absolute Markets Insights has been monitoring the Medical Technology Market and it is poised to grow by $ 2324.34 bn during 2022-2030 progressing at a CAGR of 17.1% during the forecast period.

Key players operating in the medical technology market are Agfa-Gevaert Group, Ambu A/S, BD, bioMérieux SA, Boston Scientific Corporation, Coloplast Corp, Dentsply Sirona, Edwards Lifesciences Corporation, Essilor, General Electric Company, IBM Watson Health, Illumina, Inc., Institut Straumann AG, Intuitive Surgical, Johnson & Johnson Services, Inc., Koninklijke Philips N.V., Medtronic, Microsoft, Myriad Genetics, Inc., PathAI, inc., QIAGEN, Sanofi, Sartorius AG, Smith & Nephew, Sonova, Stryker, Thermo Fisher Scientific, Touch Surgery, Verily Life Sciences LLC, Zimmer Biomet. Additive Orthopedics, a medical technology company, created a custom 3D printed bone replacement. Boston Scientific Corporation’s MedSurg, will be launching Exalt-D Single-Use Duodenoscope, which will be duly used in ERCP procedures.

Medical Technology Market Segmentation:

By Component

·                    Hardware

·                    Software

·                    Services

By Application

·                    Diagnostic Imaging

·                    In-Vitro Diagnostics

o       Class A

o       Class B

o       Class C

o       Class D

·                    Orthopedics

·                    Wound Management

·                    Dental

·                    Drug Delivery

·                    Cardiology

·                    General and plastic Surgery

·                    Ophthalmic

·                    Others

By Product Categories

·                    Active implantable technology

o       Cardiac pacemakers

o       Neurostimulators

o       Others

·                    Anesthetic respiratory technology

o       Oxygen mask

o       Gas delivery unit

o       Others

·                    Dental Technology

o       Dentistry tools

o       Alloys

o       Others

·                    Electromechanical medical technology

o       X-ray machine

o       Laser

o       Others

·                    Hospital Hardware

·                    In vitro diagnostics technology

o       Pregnancy Test

o       Genetic Test

o       Glucose Strip

o       Others

·                    Non-active implantable technology

·                    Ophthalmic and optical technology

o       Spectacles

o       Contact lenses

o       Intraocular lenses

o       Others

·                    Reusable instruments

o       Surgical instruments

§    Anesthesia apparatuses

§    Blood transfusion devices

§    Catheters

§    Hypodermic needles

§    Others

o       Rigid endoscopes

o       Blood pressure cuffs

o       Stethoscopes

o       Others

·                    Single use technology

·                    Technical aids for disabled

o       Wheelchairs

o       Walking frames

·                    Hearing aids

·                    Diagnostic and therapeutic radiation technology

·                    Complementary therapy devices

o       Acupuncture needles/devices

o       Bio-Energy mapping systems/software

o       Magnets

o       Moxibustion devices

o       Others

·                    Biological-derived devices

·                    Healthcare facility products and adaptations

·                    Laboratory equipment

·                    Others

By End User

·                    Hospital

·                    Clinics

·                    Laboratory Institutes

·                    Research Institutions

·                    Healthcare Payers

·                    Others

Why Buy this Report?

·        Extensive analysis on latest trends and growth opportunities in different regions across the globe

·        Comprehensive assessment on recent technological advancements and forecast of the upcoming period

·        A comparative analysis of leading players and emerging players in the Medical Technology market

·        Authentic information on new product launches, organic and inorganic strategies, and more

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Data Bridge Market Research analyses that the bio-implants market to be grow at a CAGR of 8.1% in the forecast period of 2022-2029.

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Data Bridge Market Research analyses that the bio-implants market to be grow at a CAGR of 8.1% in the forecast period of 2022-2029.

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Implantable Drug Delivery Devices Market Introduction:

The implantable drug delivery is the procedure that facilitates the drug to be released in the bloodstream. To deliver the drug, numerous devices are being offered in the market, depending upon the kind of cure the device is manufactured for. For instance, by utilizing implantable drug delivery infusion pump, the insulin is delivered in the human body to cure diabetes. Moreover, contraceptive drug delivery devices including intrauterine devices are being utilized to control the birth. These devices are actively programmable with access ports to resupply the medications when needed. Owing to such factors, implantable drug delivery devices market is anticipated to have significant growth over the forecast period.

The growth is attributed to the rising prevalence of chronic diseases including cardiovascular, diabetes, obesity and cancer, etc., coupled with increasing involvement of government bodies such as U.S. Food and Drug Administration and European Union towards the use of safer products along with recommended quality of the implant devices, is also fueling the demand for implantable drug delivery devices in the market.

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 Implantable Drug Delivery Devices Market: Dynamics

The implantable drug delivery devices market is largely driven by the simplified targeted therapy that avoids patients from being hospitalized and from intravenous infusions. Furthermore, the advancement in the implantable drug delivery devices to microscale implantable drug delivery devices (IDDSs) have gained traction over the past few years. This miniaturization of the technology is highly advanced in delivering the drug, thereby providing better control over the disease via its accurate, less painful and long-life expectancy features. Patients suffering from osteoporosis have been much relieved owing to the development for microscale IDDS’s that has come out to be effective in the treatment of disease and enhancing the quality of life. This innovative technology has potential to cure further diseases such as neurological disorders, contraception, movement disorders particularly hip and knee movements among others. Therefore, the technology enhancement is anticipated to be a major booster to the market.

Furthermore, these devices responsibly take a reduced amount of time in recovery and closure of wounds during the surgery over the traditional methods such as conventional oral (through mouth) and parenteral dosage form (injections into systemic circulation). Therefore, surging up the market.

The major factors restraining the implantable drug delivery devices market comprises of the high costs involved in manufacturing the implantable devices coupled with the possible device failures which could hamper the growth of the implantable drug delivery device market. For instance, in 2016, Medtronic developed devices named SynchroMed II and SynchroMed EL implantable drug infusion pump. These pumps are utilized among the patients suffering from metastatic cancer, and chronic pain. The device incurred a software problem which lead to Medtronic to recall and update the software of the product, under the guideline of U.S. FDA.

 Implantable Drug Delivery Devices Market: By Product Type

Contraceptive drug delivery devices’ segment is anticipated to have a prime share in the implantable drug delivery devices market over the forecast period owing to the decent rise in demand for hormone regulation and contraception by the adoption of non-biodegradable implants over the recent years, thus, offering a generous market growth. For instance, contraceptive rings are being placed in the vagina for the birth control by women.

Moreover, bio absorption stents are anticipated to rise enormously over the projected period. The growth is majorly attributed owing to the rise in cardiovascular diseases including coronary artery diseases (CAD) among the patients. As per the statistics by American Heart Association, in 2018, 92.1 million (approx.) adult people in the U.S. suffer from some kind of cardiovascular disorder, which is expected to result in 2300 deaths a day. Due to this, the utilization of the bio absorption stents is expected to rise, thus helping the market to grow further.

 Implantable Drug Delivery Devices Market: By Material Type

On the basis of material, the implantable drug delivery devices market is segmented into biodegradable and non-biodegradable. Biodegradable implantable devices market is anticipated to witness high growth over the forecast period. L-lactide is an absorbable material used in the manufacturing of bio-absorbable stents. They have the capability to dissolve naturally in the human body, and is attributed towards the market growth. For instance, Abbott developed the Absorb GT1 Bioresorbable Vascular Scaffold System (BVS) which was approved by the U.S. Food and Drug Administration in 2016. This implantable device can deliver the drug named everolimus which limits the growth of the tissue scars, and also has the capability to dissolve in the human body in about 3 years.

 Implantable Drug Delivery Devices Market: By Application:

The implantable drug delivery devices market for cardiovascular applications is anticipated to be dominant during the forecast period. According to the American College of Cardiology, cardiovascular diseases (CVD) are responsible for the death of nearly 8,00,000 people in the U.S. alone. Majority deaths in the U.S. are caused by cardiovascular disease including coronary heart diseases, followed by heart failure and stroke. Therefore, the rise in the cardiovascular diseases would give space for the growth of absorbable stents, which is further expected to contribute a decent revenue share in the market.

 Implantable Drug Delivery Devices Market: Regional Analysis

North America is anticipated to have a dominant share in the market during the forecast period with the U.S. maintaining its dominance owing to its world’s largest and established pharmaceutical market. Moreover, the nation is highly focused and known to be world leader in the biopharmaceutical research. As per the statistics by the Bureau of Labor Statistics, U.S. in 2010, approximately US$ 67.4 billion was invested in the research and development in pharmaceutical sector. Some of the leading players investing hugely in the research & development include Pfizer, Inc, Johnson & Johnson, Inc, Antares Pharma and Dickinson and others.

The treatment of prostate cancer is quite painful, and this pain can be reduced by the use of intrathecal drug delivery pumps, thus, providing a significant growth to the implantable drug delivery devices. Rising prostate cancer cases among men in the U.S. is another reason attributed to the growth of U.S. implantable drug delivery devices market. According to the stats by National Cancer Institute, the estimated new cases of prostate cancer in 2018 is about 15,646 cases, out of which 1,413 deaths are estimated.

Asia Pacific is predicted to have a substantial growth over the forecast period, which is highly attributed by the steep growth in the healthcare industry majorly in China and India. According to China Chamber of Commerce for Import and Export of Medicines and Health Products, China became the second largest pharmaceutical market in 2014. According to CCCMHPIE, China healthcare industry output value reached to US$ 420.0 billion in 2015, increasing from US$ 380.0 billion in 2014. This will further give some good opportunities for the growth of China implantable drug delivery devices market.

Moreover, the presence of some major pharmaceutical companies in the Asia Pacific region will further open up opportunities for the growth of Asia Pacific implantable drug delivery devices market. Some of the predominant players present in this region include Baxter International, Glaxo Smith Kline and Boehringer Ingelheim GmbH among others.

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 Competitive Landscape:

The key vendors in the implantable drug delivery devices market include Medtronic Inc, Cydex, Inc, Alkermes, Inc, Abbott Laboratories, Bayer Healthcare, Psivida Corp, Allergan, Inc. and Boston Scientific Corporation among several others.

Major players in this market are working on the development of new devices to overcome the failure cases, broaden the device application and to enhance the device’s efficiency. For instance, in 2018, Medtronic announced the approval received from U.S. FDA on implantable drug delivery system and cardiac catheter technology for the patients suffering from pulmonary arterial hypertension.