Market Overview:
Drug device combination products combine drugs and devices to provide therapeutic benefits. They help in better drug delivery and maintenance of stable drug levels in the body. Advantages include controlled drug release, targeted drug delivery, and automated dosing which enhances patient compliance and therapy effectiveness.
Market key trends:
Growing demand for home healthcare and advancement in drug delivery technologies are fueling the growth of the market. With the increase in chronic diseases and geriatric population coupled with high healthcare costs, there is an increasing demand for self-administered drug delivery devices. Furthermore, innovation in drug delivery devices is helping increase efficiency and effectiveness of drugs while reducing side effects. Smart wearables and 3D printing technologies are contributing substantially to development of novel drug device combination products with enhanced capabilities.
The global Drug Device Combination Products Market Trends is estimated to be valued at US$ 150.23 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
Content: The global drug device combination products market can be segmented based on product, application, end user and region. Based on product, the market is segmented into drug-eluting stents, prefilled syringes, drug eluting balloons, infusion pumps and inhalers. Among these, the drug-eluting stents segment dominates the market due to increasing prevalence of cardiovascular diseases and rising adoption of minimally invasive procedures.
Key Takeaways
Market size: The global drug device combination products market is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing prevalence of chronic diseases and growing geriatric population.
Regional analysis: North America currently dominates the market due to widespread awareness regarding advanced treatment options and well-established healthcare infrastructure in the region. However, Asia Pacific is expected to grow at the fastest pace during the forecast period owing to increasing healthcare spending and rapidly developing economy.
Key players: Key players operating in the drug device combination products market are AbbVie Inc., Terumo Corporation, GlaxoSmithKline PLC, Novartis AG, Medtronic PLC, Abbott Laboratories, Boston Scientific Corp., W L Gore and Associates Inc., Stryker Corporation, and Becton, Dickinson and Company. These players are focusing on new product launches and mergers & acquisitions to strengthen their market position.
The research report, titled “Drug Device Combination Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” presents an in-depth analysis of the global drug device combination products market based on various parameters such as market overview, market drivers, restraints, challenges and opportunities, product segmentation, and vendor analysis.Request Brochure –https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=1534Browse the full Drug Device Combination Products Market (Drug Eluting Stents, Infusion Pumps, Photosensitizers, Orthopedic Combination Products, Wound Care Combination Products, Inhalers, Transdermal Patches, Intraocular Implants and Drug Eluting Beads) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 According to the research study, in 2012, the global drug device combination products market was worth US$66 bn and is anticipated to reach US$115 bn by the end of 2019, exhibiting a 7.9% CAGR between 2013 and 2019.
The report has also included inputs and recommendations from industry experts to help the existing as well as new players in designing their business strategies.Request COVID Analysis on Drug Device Combination Products Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=1534 The global market for drug device combination products is anticipated to grow substantially throughout the forecast period due to various factors such as government and NGO initiatives for encouraging drug delivery implants, increasing demand for minimally invasive surgeries, and rising number of interventional cardiologists.
Moreover, advanced technologies, such as implants with drugs, help in pain relief, lowering morbidity, and quicker healing.
Hence, these are anticipated to fuel the global drug device combination products market in the forecast period.
On the other hand, recall of products due to their severe side effects is one of the major factors that is projected to hamper the growth of this market in the next few years.According to type, the global market for drug device combination products is divided into transdermal patches, drug eluting stents, inhalers, orthopedic combination products, infusion pumps, photosensitizers, wound care combination products, and other products.
A detailed analysis of the different types of drug device combination products has been included in the report coupled with their individual market share and revenue for the forecast period from 2013 to 2019.Request Customization on Drug Device Combination Products Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR_id=1534 Geographically, the global market for drug device combination products market has been segmented into North America, Europe, Asia Pacific, and Rest of the World.
