Drug-Device Combination Products Market Size, Share, Industry Research and Growth Forecast 2028 | Key Players: Medtronic plc, Smith & Nephew plc, Boston Scientific Corporation, GlaxoSmithKline plc

The growing prevalence of chronic diseases and disorders such as cancer, cardiac problems, multiple sclerosis, and diabetes, among others, is expected to fuel market growth. According to the National Center for Biotechnology Information (NCBI), about 126 million people worldwide (1,655 per 100,000) suffered from ischemic heart disease in 2017, accounting for 1.72 percent of the global population.

Furthermore, the demand is expected to expand as the geriatric population grows. According to the United States Census Bureau, the geriatric population in the United States is estimated to reach 77 million by 2034.

The related benefits of decreased pain levels, improved patient outcomes, shorter hospital stays, and overall healthcare cost savings can be credited for the resulting rise in acceptance of these items. Synergistic effects that facilitate multi-target therapy, increased tolerance levels, dose regimen simplification, and improved symptomatic and pharmacokinetic profiles are among the other benefits. These advantages are expected to drive demand for these systems and provide numerous growth opportunities for the industry.

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Growth Drivers that Support the Global Drug-Device Combination Products:

• The global drug system combination product market was dominated by North America. This can be due to the prominent players' robust new product creation activities. One of the main potential growth drivers in this area is the rising chronic disease burden, which is driving a high clinical imperative to integrate these items.

• The rising popularity of minimally invasive surgeries and portable devices such as nebulizers and inhalers are just a few of the main drivers of the industry. On the other hand, a number of product recalls and related problems are likely to stymie the market. Furthermore, the demand for minimally invasive drug device combination products is constrained by government regulations.

• The demand for innovative medication delivery technologies is expected to be met by an exponential rise in the production of clinical drugs and devices by major pharmaceutical companies. This has resulted in large product pipelines and increased commercial returns on already existing products, serving as a major driving force for the industry.

Recent Developments of Companies in the Global Market

• The Abre venous self-expanding stent device was approved by the US Food and Drug Administration (FDA) in October 2020. In patients with symptomatic iliofemoral venous outflow obstruction, this system is recommended for use in the iliofemoral veins.

• Abbott obtained CE Mark approval for the latest FlexNav delivery system for its Portico transcatheter aortic valve implantation (TAVI) system in March 2020.

• Haselmeier, a self-injection system manufacturer, partnered with Stevanato Group, an Italian maker of glass primary packaging, in October 2019 to design, manufacture, and supply the axis-D pen-injector in the therapeutic field of diabetes treatment.

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Major companies functioning in the global Drug-Device Combination Products are Smith & Nephew plc, Medtronic plc, Boston Scientific Corporation, Becton, GlaxoSmithKline plc, Dickinson and Company, Novartis AG, Johnson & Johnson, Bayer AG, and Baxter International, Inc.

Market Segmentation:
By Product:
• Drug-eluting Stent
• Infusion Pump
• Photodynamic Therapy
• Antimicrobial Wound Dressing
• Prefilled Syringe
• Drug-eluting Balloon
• Nebulizer
• Inhaler
• Transdermal Delivery System
• Others

By Application:
• Cardiovascular Treatment
• Diabetes
• Respiratory Problem
• Cancer Treatment
• Antimicrobial Application
• Others

By End-User:
• Hospital & Clinic
• Ambulatory Surgical Center
• Home Care Setting
• Others

By Region:
• North America
◦ North America, by Country
▪ US
▪ Canada
▪ Mexico
◦ North America, by Product
◦ North America, by Application
◦ North America, by End-User
• Western Europe
◦ Western Europe, by Country
▪ Germany
▪ UK
▪ France
▪ Italy
▪ Spain
▪ The Netherlands
▪ Rest of Western Europe
◦ Western Europe, by Product
◦ Western Europe, by Application
◦ Western Europe, by End-User
• Asia Pacific
◦ Asia Pacific, by Country
▪ China
▪ India
▪ Japan
▪ South Korea
▪ Australia
▪ Indonesia
▪ Rest of Asia Pacific
◦ Asia Pacific, by Product
◦ Asia Pacific, by Application
◦ Asia Pacific, by End-User
• Eastern Europe
◦ Eastern Europe, by Country
▪ Russia
▪ Turkey
▪ Rest of Eastern Europe
◦ Eastern Europe, by Product
◦ Eastern Europe, by Application
◦ Eastern Europe, by End-User
• Middle East
◦ Middle East, by Country
▪ UAE
▪ Saudi Arabia
▪ Qatar
▪ Iran
▪ Rest of Middle East
◦ Middle East, by Product
◦ Middle East, by Application
◦ Middle East, by End-User
• Rest of the World
◦ Rest of the World, by Country
▪ South America
▪ Africa
◦ Rest of the World, by Product
◦ Rest of the World, by Application
◦ Rest of the World, by End-User

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This release was published on openPR.