Implantable Drug Delivery Devices Market Industry Growth and Forecast till 2026
Posted: Mar 15, 2019
According to a report by World Health Organization (WHO), 2017, chronic diseases are the major cause of disabilities worldwide. The estimated global burden by 2020 is 60%. Moreover, 73% of deaths in 2020 is expected to be due to chronic diseases. Four of the most prominent chronic diseases are cardiovascular, cancer, pulmonary and type 2 diabetes. Implantable drug delivery devices offers unique patients solutions for chronic diseases. For instance, in October, 2017, Encellin, has received an exclusive worldwide right for a proprietary cell encapsulated technology by developed UC San Francisco aiming to improve cell transplant without the need of immunosuppressive drugs.
Download PDF Brochure @ https://www.coherentmarketinsights.com/insight/request-pdf/1103
The Encellin device is encapsulated with glucose sensitive islet cells in a pouch, and is implanted under the skin, enabling it to regulate glucose level. Similarly, In 2015 Intarcia Therapeutics, developed a drug eluting non-biodegradable device ITC650 for the treatment of diabetes, which consists of osmotic pump small titanium alloy reservoir delivering a steady flow of a glucagon-like peptide-1 receptor agonist, for 12 months.
Implantable drug delivery devices allow several site specific administration where the drug is needed most for the treatment. Devices allows for sustained release of a therapeutic agent and administer significant lower dose of the drug, which minimize side effects. In 2014, Alimera Sciences, Inc. received U.S. FDA approval for Iluvien for the treatment of diabetic macular edema. Iluvien implant is a tiny cylindrical tube inserted into the back of an eye. It is designed to provide a low daily dose of fluocinolone acetonide, a corticosteroid.
In 2015, the World Health Organization (WHO) estimated that around 17.7 million people died due to cardiovascular disease. Considering the huge patient pool, market players have developed bio absorbable stents. The bio-absorbable stents is expected to show an exponential growth during the forecast period due the fact that this stent is gradually resorb and cleared from the body. Bio absorbable stents overcomes the drawback of metal drug eluting stents. In 2017, Reva Medical Inc., received CE mark approval in Europe for Fantom (sirolimus-eluting bioresorbable coronary scaffold). CE marking is a certification mark that confirms with health, safety, and environmental protection standards for products sold within the European Economic Area (EEA).
Get Exclusive Sample Copy @ https://www.coherentmarketinsights.com/insight/request-sample/1103
Diabetic Macular Edema is a growing health problem and the number of cases are increasing due to prevalence of diabetes. According to National Diabetes Statistics, as of 2015 an estimated 30.3 million people of all ages had diabetes in U.S. Hence, manufacturers are actively working on research and development of the implant drug delivery devices field which are biodegradable. In 2014, Allergan received U.S. FDA approval for revised indication for Ozurdex (dexamethasone intravitreal implant) for the treatment of diabetic macular edema. Ozurdex is sustained-release biodegradable steroid implant.
Some major players operating in the implantable drug delivery devices market are Boston Scientific Corporation, Bayer Healthcare, Medtronic, Allergan plc, Abbott Laboratories, Bausch and Lomb Inc., Elixir Medical Corporation, Riva Medical Inc., Merck & Co., Inc and Alimera Sciences
Click To Continue Reading On Implantable Drug Delivery Devices Market
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
Contact US: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel : +1-206-701-6702 Email: firstname.lastname@example.org Website: https://www.coherentmarketinsights.com