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

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).

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.

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.

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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.”

FMI Blog

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