Drug-Device Combination Products Market With Top 20 Countries Data, Sales Volume, Sales Price, Sales Revenue Analysis And Forecast to 2025
The development of combination products leads to better management of chronic disorders, reduces the levels of pain, minimizes hospital stays, and provides better healthcare cost efficiency. In addition, technological advancements in combination products such as prefilled syringes and soft mist inhalers, also boost the market growth.
The key players of this market include Abbott Laboratories, Medtronic plc, Smith & Nephew plc, Boston Scientific Corporation, GlaxoSmithKline plc, Becton, Dickinson and Company, Johnson & Johnson, Novartis AG, Bayer AG, and Baxter International, Inc.
The other players in the value chain include B. Braun Melsungen AG, Cook Medical, ICU Medical, Inc., Moog, Inc., and C.R. Bard, Inc. These players are not profiled in the report and the same can be included on request.
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Drug-device combination products are medical devices, which consist of a device and active pharmaceutical ingredients that are physically or chemically combined together as a “single-entity”. These products lead to safer, effective management, and treatment of several disorders, owing to precise drug delivery, local administration, and individualized treatment. Major drug-device combination products include drug-eluting stents, infusion pumps, inhalers, transdermal delivery systems, prefilled syringes, and others. These technologically advanced products are used to manage and treat a number of chronic disorders such as cancer, diabetes, respiratory issues, cardiovascular disorders, wound healing, and others.
On the basis of application, the market is categorized into cardiovascular treatment, diabetes, respiratory problem, cancer treatment, antimicrobial application, and other applications. The respiratory problem segment accounted for the largest market share in 2017, whereas the antimicrobial application segment is expected to register the highest growth rate during the forecast period.
The growth of the Global Drug-device Combination Products Market is driven by rise in incidence of chronic diseases such as diabetes, cancer, and respiratory problems, increase in casualties owing to accidents and trauma, rise in geriatric population, growth in home-based healthcare market, and technological advancements such as development of prefilled syringes. However, factors, such as unnoticed complications of drug-device combination products, number of product recalls, and stringent government regulations, hamper the market growth. Conversely, rise in healthcare infrastructure and high market potential in untapped emerging economies are expected to provide lucrative growth opportunities for the market.
The global drug-device combination products market is segmented based on product, application, end user, and region. On the basis of product, the market is segmented into drug-eluting stent, infusion pump, photodynamic therapy, antimicrobial wound dressing, prefilled syringe, drug-eluting balloon, nebulizer, inhaler, transdermal delivery system, and others.
Drug-eluting stents are further sub-segmented into coronary stents and peripheral vascular stents. The infusion pumps segment is further divided into implantable infusion pump, insulin infusion pump, patient-controlled analgesia pump, and ambulatory infusion pump. Similarly, prefilled syringes are further categorized into single-chamber prefilled syringes, dual-chamber prefilled syringes, and customized prefilled syringes. The drug-eluting balloon segment is bifurcated into coronary drug-eluting balloon and peripheral drug-eluting balloon. The inhaler segment is further segmented into drug powder inhaler (DPI), metered dose inhaler (MDI), and soft mist inhaler (SMI). Lastly, the transdermal delivery system segment is bifurcated into passive delivery system and active delivery system.
The transdermal delivery system segment accounted for the largest market share in 2017 and is expected to continue this trend throughout the forecast period. On the other hand, the prefilled syringe segment is anticipated to grow at a significant CAGR of 9.9% during the forecast period.
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Key Benefits for Stakeholders
• The study provides an in-depth analysis of the global drug-device combination products market with the current trends and future estimations from 2017 to 2025 to elucidate the imminent investment pockets.
• A comprehensive analysis of factors that drive and restrict the market growth is provided.
• Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on global & regional scales are provided.
• The key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
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