Implantable drug delivery on the rise

The global implantable drug delivery devices market will grow by 8.8% by 2018 according to a new report from Transparency Market Research.

The group’s findings suggest that the industry grow in response to increasing occurrences of cardiovascular diseases, diabetic retinopathy, colorectal cancer, chronic pain conditions, a growing elderly population worldwide, as well as the high prevalence of unwanted pregnancies

Other impacting factors will include initiatives by NGOs and governments, a growing demand (and performance of) minimally-invasive surgeries, as well as a rise in the number of registered interventional cardiologists.

Drilling into the detail, the report outlines specific fields set to see growth, such as biodegradable implantable drug delivery devices as well as microchips (especially for conditions such as osteoporosis).

The cardiovascular applications segment is set to expand with the launch of bio-absorbable stents in 2014, and will thus see accelerated growth until 2018. The report also states that biodegradable drug delivery implant technology will overtake the non-biodegradable drug delivery implants, as the former does not require additional surgical procedures for ­­removal, and purges any side effects that may result from such devices being lodged in the body.