Drug Device Combination Products Market to Reap Excessive Revenues by 2028

Drug-device Combination Products Market: Overview

• According to Transparency Market Research's latest report on the global drug-device combination products market for the historical period, 2017-2019, and forecast period from 2021 to 2028, increase in geriatric population and technological advancements in drug delivery systems are projected to boost the growth of the global market during the forecast period

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Rise in Prevalence of Chronic Diseases such as Diabetes, Respiratory Diseases, and Cancer: Key Driver

• Rise in prevalence of chronic diseases and disorders such as cancer, cardiac conditions, multiple sclerosis, and diabetes is expected to fuel market growth
• According to the National Center for Biotechnology Information (NCBI), around 126 million people (1,655 per 100,000) suffered from ischemic heart disease in 2017, accounting for 1.72% of the global population
• Increase in the geriatric population is likely to fuel the growth of the global market during the forecast period. According to the United States Census Bureau, the geriatric population in the U.S. is projected to reach 77 million by 2034.

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Risk of Infections and Strict Regulations on Drug-device Combination Products: Key Restraint

• Drug-device combination products increase the risk of infection, which is anticipated to hamper market growth. Stent infection is uncommon; however, it is associated with significant morbidity and mortality.
• Presence of a strict and non-specific regulatory pathway for drug-device combination product approval is expected to restrain the global market. In the U.S., pharmaceutical products and medical devices have separate regulatory approval pathways. Pharmaceutical products use the investigational new drug (IND) application process, while medical devices use the investigational device exemption (IDE) pathway.

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Drug-device Combination Products Market: Competitive Landscape

• This report profiles major players in the global drug-device combination products market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
• The global drug-device combination products market is quite competitive, with the top ten players accounting for major share of the market and companies focusing on research & development to develop better pharmaceutical and vaccine products for the existing diseases
• Leading players operating in the global drug-device combination products market are
o Teva Pharmaceutical Industries Ltd.
o AbbVie, Inc.
o Abbott Laboratories
o Medtronic plc
o Kaleo
o SINOMED, Alcon, Inc.
o Boston Scientific Corporation
o Integer Holdings Corporation
o Teleflex Incorporated
o Bausch Health Companies, Inc.
o Haselmeier GmbH
o Flowonix Medical, Inc.

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Drug-device Combination Products Market: Key Developments

• Key players in the global drug-device combination products market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global drug-device combination products market. A few expansion strategies adopted by players operating in the global drug-device combination products market are:
o In August 2020, Teva Pharmaceutical Industries Ltd. made its generic version of Mylan's EpiPen for children available in most retail pharmacies
o In February 2020, Flowonix Medical, Inc. received the FDA approval for its Prometra II Programmable Pump System for use with intrathecal baclofen. The Prometra II Pump employs a pressure-driven, valve-gated delivery mechanism to deliver medication boluses into the intrathecal space.
• The report on the global drug-device combination products market discusses individual strategies, followed by company profiles of manufacturers of drug-device combination products. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global drug-device combination products market.

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