Global Medical Aesthetics Market Outlook 2030

  • Product Code:
    RP-ID-10059331
  • Published Date:
    14 Sep 2021
  • Region:
    Global
  • Pages:
    137
  • Category:
    Healthcare & Pharmaceuticals
  • Publisher:
    Pub-ID-12

Impact Analysis on the Growth of Market

Inflation and looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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The Research Report is Updated with 2021 Base Year, 2022 Estimated year and Forecast till 2031 with Market Insights.


With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2021 as base year, 2022 as estimated year and forecast to 2031. This will have market drivers, recovery rate in the market, insights and competitive analysis.



Market Overview:

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In 2021, the global market size of implantable drug delivery devices is estimated to be more than USD 20 billion, expanding at a compound annual growth rate in the next few years at 8% between 2022 and 2030. With the increasing incidence of chronic diseases such as cancer and diabetes, effective drug management is required. According to the UK Cancer Research Centre, cancer causes the largest number of deaths in the world, which increases the clinical urgency of adopting advanced alternatives (such as implantable drug delivery devices. The continuous intervention of government health organizations to ensure high standards of patient safety is one of the main factors contributing to growth. Increasing awareness of the availability of high-quality and safer products can also help drive overall demand. Due to increased efficacy, the increasing preference for combination drugs and device products is also a key factor. The continuous efforts of the EU and the US FDA to formulate guidelines and policies to respond to implant-related challenges and promote appropriate and consistent supervision are expanding the growth prospects of the market. For example, the US FDA has established the Office of Combined Products (OCP) to ensure high safety standards.

The latest advances in drug delivery technology are expected to drive growth potential in the next few years. The increasing popularity of micro-implantable devices with multiple applications (such as treatment and diagnosis) is one of the key factors for growth in recent years. These devices help monitor body function and facilitate imaging and treatment, as well as stimulate tissues or organs in movement disorders.

The development of implantable drug delivery systems (IDDS) has promoted controlled drug delivery targeted therapy, which is expected to broaden the market growth prospects. market. It is expected that less pain and higher cost-effectiveness, safety and effectiveness will drive the demand for these products during the forecast period. In addition, compared with traditional surgery, shorter recovery time and faster wound closure prompted clinicians to use IDDS.

Increasing attention to natural appearance and more aesthetics of all ages is the main factor driving the demand for IDDS. Lower blood loss during minimally invasive surgery is also an added benefit. It is expected that these above-mentioned benefits will accumulate to drive the market in the next few years.

PRODUCT INFORMATION:

Drug-eluting stents accounted for the largest share in 2020. It is expected that more and more non-biodegradable implants will be used in hormone regulation, contraception, cancer treatment to control pain and abuse deterrence, and the health of the central nervous system during the forecast period will drive this segment of the market.

Manufacturers are focusing on developing cost-effective technologies and new drug delivery technologies to gain a competitive advantage. It is expected that the bioabsorbable stent will show an exponential compound annual growth rate throughout the prophase period. This can be attributed to the increasing incidence of coronary and peripheral arterial diseases, the rise of patient-controlled devices, the shift of manufacturers; focus to clinical trials related to bioabsorbable stents, the increasing adoption by patients and doctors, and the use of stents.

The demand continues to grow. Minimally invasive surgery. It is expected that by 2030, this will be a lucrative opportunity for bioabsorbable stents. The demand for new contraceptive products is increasing, and the demand for contraceptive implants is expected to increase in the next few years. Once these implants are implanted in the body, they can help prevent pregnancy for a certain period of time.

This reduces the need for contraceptives and their associated side effects. Therefore, the adverse effects of certain existing contraceptive methods are expected to create growth opportunities for contraceptive implants throughout the prognosis period. Treatment costs, and adverse reactions. It is expected that during the forecast period, inter-industry competition will remain moderately high. Major market participants are constantly under pressure to develop technologically advanced products.

TYPE INSIGHT:

Non-biodegradable equipment accounted for the highest proportion of products in 2020. Most of these systems are based on polymer matrix systems. The slow diffusion of the drug promotes the sustained release of the drug through the delivery system. Matrix systems are also commonly used as non-degradable implants. These systems consist of therapeutic agents uniformly distributed in a solid, non-biodegradable polymer.

Due to the various benefits associated with it, biodegradable products are expected to grow exponentially. These advantages include ease of manufacturing, absorption and excretion of copolymers for biodegradable devices, reducing the need for surgical resection of non-biodegradable products. Other benefits include higher acceptance, higher patient compliance and positive results, which are expected to further drive demand. Biodegradable materials are increasingly used in ocular implants. These systems facilitate the administration and sustained release of high systemic doses, thereby increasing the exposure of ocular tissues to the drug. Lacrisert, Surodex and Ozurdex are some examples of biodegradable implants. In addition, biodegradable polymers are used as drug carriers to facilitate local and sustained drug delivery.

TECHNOLOGY INSIGHT:


In 2016, diffusion technology dominated the implantable drug delivery device market. Diffusion technology is used to provide more treatments for chronic diseases that require higher treatment rates. market share. This can be attributed to the adoption of osmotic technology in a wide range of applications, such as dentistry, insulin administration, cancer, anticoagulants, and anesthetics.

Because these systems have continuous and uninterrupted therapeutic release properties, they have been widely used for pain management in recent years. Due to its associated benefits, magnetic implants are expected to grow steadily throughout the forecast period. Compared with traditional drug delivery devices, the various advantages of these systems are microvascular level drug delivery and higher in vitro targeting efficiency. These systems are widely used for the administration of insulin, antibiotics, antitumor agents and fibrinolytic agents.

APPLICATION INSIGHT:


Cardiovascular applications dominated in 2020. The huge share of this market segment is the result of the ever-increasing number of patients with cardiovascular diseases, driving the urgency of clinical development of advanced equipment.
Therefore, players around the world have developed bioabsorbable stents that can be gradually absorbed and excreted by the human body. The massive adoption of drug-eluting stents in the treatment of cardiovascular diseases is also the reason for the huge growth potential of this market segment. The other key factor is the preference for minimally invasive surgery. In 2017, Reva Medical, Inc. Announcing the approval of Fantom’s CE mark, a sirolimus-eluting bioresorbable coronary stent.

The other part includes multiple sclerosis and rheumatoid arthritis. The increasing prevalence of multiple sclerosis is the main growth driver for this segment. Multiple sclerosis is considered to be one of the most common causes of non-traumatic disability. It is estimated that about 2.5 million people worldwide suffer from this disease. According to data released by the US Centers for Disease Control and Prevention, more than 400,000 patients in the United States have been diagnosed with this disease, an average increase of 200 cases per week.

The average age of onset of the disease is 30 to 33 years, of which only 10.0% of people are diagnosed after 50 years of age. Contraceptives accounted for the second largest market share in 2020, which can be attributed to the increasing demand to control population growth. The significant increase in the number of initiatives led by public and private organizations aimed at raising awareness of the measures available to help prevent unwanted pregnancies can also be attributed to their growth. These initiatives also aim to improve sexual health services and encourage people to use contraception.

REGIONAL INFORMATION:


North America has the largest market share in 2020 due to extensive new development activities carried out by major players. The growing disease burden in the region has also led to great clinical urgency to adopt these devices.

The Asia-Pacific region is expected to show an exponential compound annual growth rate during the forecast period, which is attributed to increasing healthcare expenditures and the level of awareness of the benefits of implantable drug delivery devices. Improved regulatory policies that ensure high safety standards and the quality of medical infrastructure are expected to further expand the scope of growth in the region.

MAJOR COMPANIES AND MARKET SHARE PROSPECTS:

Some of the major market players are Medtronic, Boston Scientific and Abbott Laboratories. These players have deployed a wide range of sustainable development strategies, such as new product development and regional and distribution channel expansion, in order to achieve greater market share.

In addition, market leaders are highly concerned about providing economic value and satisfying unmet needs. High attention to improving the manufacturing process of technologically advanced products helps players gain a competitive advantage over competitors. For example, in October 2017, Boston Scientific signed an agreement to acquire Apama Medical, Inc.

To expand its differentiated product portfolio. Solutions for arrhythmia. Similarly, in May 2017, Medtronic was approved by the US FDA to launch the Resolute Onyx Drug-Liberation Stent (DES) product in the US, thereby expanding its coronary stent product portfolio.

MARKET SEGMENTS COVERED BY THE REPORT:

The report forecasts global, regional, and national revenue growth, and analyzes the latest industry trends in each sub-segment from 2022-2030. For the purpose of this research, Kenneth Research will report on the global implantable drug delivery device market based on product, type, technology, application and region: Product Outlook (Revenue, USD million, 2022-2030) Contraceptive Implants Implantation of spinal brachytherapy seed drug-eluting stent Bioabsorbable stent intraocular stent infusion pump Other perspectives (revenue, million dollars, 2022-2030).

Biodegradable Non-biodegradable Technology perspective (income, million dollars, 2014-2025 ) Diffusion Magnetic Osmotic Other fluoroscopy applications (Revenue, USD million, 2014-2025) Cardiovascular Diabetes Oncology Autoimmune Diseases Other.

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Geography Analysis:


The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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