Advanced drug delivery devices include drug-eluting devices that can be further categorized into biodegradable and non-biodegradable drug delivery systems. Biodegradable drug-eluting devices are used for drug delivery and after implantation these devices decompose over time. They are generally made up of biocompatible materials such as polyesteramide (PEA) and Poly Lactic-co-Glycolic Acid (PLGA). In contrast to biodegradable drug-eluting devices, non-biodegradable drug-eluting devices are made up of biocompatible materials such as silicone rubber (Polydimethylsiloxane - PDMS), polyethylene-vinyl acetate (EVA), and thermoplastic polyurethane (TPU). These devices are relatively less costly and can be designed as reservoir, matrix, and osmotic systems to deliver drugs. The effects of non-biodegradable drug-eluting devices are almost immediately reversible upon removal. Pain management, contraception, abuse deterrence, CNS health, hormone regulation, oncology, and diabetes, among others are some of the key areas where non-biodegradable drug-eluting devices find application.

Rich pool of pipeline products, favorable research landscape, rising prevalence of chronic diseases, rising cases of needlestick injuries, increasing use of biologics, growing demand for biosimilars and generic injectables, and growing aging population, are some of the pivotal factors that are anticipated to propel the demand for advanced drug delivery devices in the coming years.

Technological advancements and new product launches are expected to provide impetus to the market. The growing burden of diseases is making it important for players operating in the market to manufacture innovative, technologically advanced devices that provide effective treatment for diseases. Companies are focusing on research and development of drug delivery systems and launching advanced drug delivery devices to cater to the needs of patients and enable effective delivery of drugs.

In terms of application, the advanced drug delivery devices market has been divided into seven main application areas - Women’s Health, Diabetes, Oncology, Pain Management, Cardiology, Central Nervous System (CNS), Intraocular Drug Delivery, and Others. Advanced drug delivery devices for women’s health includes intra-vaginal rings (IVRs), contraception implants, and others; for diabetes it includes exenatide delivery devices, insulin delivery devices and others; for oncology, the devices list includes prostate cancer implants, and chemo ports; for pain management, it includes infusion pump systems, sub dermal implants, and pain management ports; for cardiology, drug eluting stents and others are included in the list. Over and above the above mentioned list, advanced drug delivery devices also includes central nervous system (CNS) devices, intraocular drug delivery devices and others.

Based on geography, the advanced drug delivery devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America dominates the advanced drug delivery devices market, with the U.S. accounting for a major share. However, Asia-Pacific is expected to witness highest CAGR during the forecast period. The expected growth in the Asia-Pacific region can be attributed to rising cases of chronic diseases, growing aging population, and investments by major companies in the area of R&D. Low cost of clinical trials and cheap labor are some of the other reasons due to which players have forayed into the Asian market.

Key players operating in the global advanced drug delivery devices market are Medtronic, plc., Boston Scientific Corporation, C.R. Bard (Becton, Dickinson and Company), Allergan plc., Merit Medical Systems, Inc., Cook Group Incorporated, Merck & Co., Inc., Pfizer Inc., Abbott Laboratories, Intarcia Therapeutics, Inc., Endo Pharmaceuticals Inc., pSivida Corp., and Delpor, Inc., amongst others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Advanced Drug Delivery Devices Market

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