Drug Device Combination Products Market Is Expected To Reach US$ 230.4 Billion by 2028

IMARC Group, a leading market research company, has recently releases report titled "Drug Device Combination Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" The study provides a detailed analysis of the industry, including the global drug-device combination products market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the drug-device combination products market?

The global drug-device combination products market size reached US$ 143.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 230.4 Billion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.

What are drug-device combination products?

Drug device combination products include medical devices and pharmaceutical ingredients that help deliver the drug to a preferred location in the patient's body. They comprise drug-eluting stents, infusion pumps, inhalers, transdermal delivery systems, and prefilled syringes. They have minimal side effects and offer advantages like controlled drug administration and improved patient compliance.

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What are the growth prospects and trends in the drug-device combination products industry?

The growing prevalence of chronic diseases, such as asthma, cancer, diabetes, and cardiovascular disorders, represents one of the key factors driving the market. Moreover, rising preferences for smart and precision drug delivery systems, which minimize the amount of drug required for therapeutic efficacy, are driving the demand for drug device combination products across the globe. Besides this, several market players are introducing advanced technologies for tracking and monitoring different products. They are also expending on extensive research and development (R&D) activities to develop next-generation products with high viscosity and formulations. Furthermore, the growing popularity of minimally invasive surgery (MIS) and portable devices like nebulizers and inhalers are other growth-inducing factors positively influencing the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product:

Drug Eluting Stents
Transdermal Patches
Infusion Pumps
Drug Eluting Balloon
Inhalers
Others

Breakup by Application:

Cardiovascular
Diabetes
Cancer Treatment
Respiratory Diseases
Others 

Breakup by End User:

Hospitals
Ambulatory Surgical Centers
Others

Breakup by Region:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Abbott Laboratories
Baxter International Inc.
Bayer AG
Becton Dickinson and Company
Boston Scientific Corporation
GlaxoSmithKline plc
Johnson & Johnson
Medtronic plc
Novartis AG
Smith & Nephew plc
Stryker Corporation
Terumo Corporation

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