Press release
Drug Device Combination Market Size Forecasted To Achieve $227.94 Billion By 2029 With Steady Growth
Drug Device Combination
What Is the Drug Device Combination Market Size and Projected Growth Rate?
The pharmaceutical device combination market has seen quick expansion in the past few years. The market size is set to expand from $131.01 billion in 2024 to $145.29 billion in 2025, indicating a compound annual growth rate (CAGR) of 10.9%. The remarkable growth in the past period can be tied to factors such as the surge in medical innovation, increase in chronic illnesses, focus on patient-centric strategies, progress in biologics, the difficulties of monotherapy, along with clinical demands.
The market size for drug-device combinations is projected to experience swift expansion in the coming years, escalating to a valuation of $227.94 billion by 2029, with a compound annual growth rate (CAGR) of 11.9%. Factors contributing to the escalation in the prediction period are patient involvement and commitment, digitalization in healthcare, global market proliferation, the advent of innovative therapies, and value-based healthcare. Essential trends expected in the prediction period include advancements in therapy, management of intricate diseases, patient-focused care, breakthroughs in technology, and backing from regulatory bodies.
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What Are the Major Segments in the Drug Device Combination Market?
The drug device combination market covered in this report is segmented -
1) By Product: Auto-Injector, Microneedle Patch, Digital Pill, Smart Inhaler, Drug Delivery Hydrogels, Drug-Eluting Lens, Other Products
2) By Distribution Channel: Direct Tender, Retails Sales, Other Distribution Channels
3) By Application: Orthopedic Diseases, Respiratory Diseases, Diabetes, Oncology, Cardiovascular Diseases, Other Applications
4) By End User: Clinics, Hospitals, Home Care Settings, Ambulatory Care Centers, Other End Users
Subsegments:
1) By Auto-Injector: Pre-Filled Auto-Injectors, Reusable Auto-Injectors
2) By Microneedle Patch: Dissolving Microneedle Patches, Coated Microneedle Patches
3) By Digital Pill: Ingestible Sensors, Smart Capsules
4) By Smart Inhaler: Metered-Dose Inhalers (MDIs), Dry Powder Inhalers (DPIs)
5) By Drug Delivery Hydrogels: Injectable Hydrogels, Topical Hydrogels
6) By Drug-Eluting Lens: Contact Lenses, Intraocular Lenses
7) By Other Products: Transdermal Patches, Implantable Drug Delivery Systems
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What Are The Driving Drug Device Combination Market Evolution?
The surge in chronic diseases is projected to fuel the growth of the drug-device combination market. Chronic diseases are conditions that last for a year or more, hinder daily activities, require continuous medical attention, or both. They encompass diseases like heart disease, diabetes, and the likes. Drug-device combinations are diagnostic and therapeutic entities that offer effective treatment to patients with chronic conditions. For example, a report by the World Health Organization, a United Nations' specialized agency for international public health, stated that in 2022, over 420 million people worldwide were affected by diabetes. The numbers are forecast to rise to 578 million and 700 million by 2030 and 2045, respectively. Consequently, the growing prevalence of chronic diseases is accelerating the expansion of the drug-device combination market.
Which Firms Dominate The Drug Device Combination Market Segments?
Major companies operating in the drug device combination market are The 3M Company, Abbott India Ltd., Biotronik SE & Co. KG, Boston Scientific Corporation, Medtronic PLC, Ypsomed Holding AG, Micron Biomedical Inc., MetP Pharma AG, Sonceboz SA, Lepu Medical Technology (Beijing) Co. Ltd., Eitan Medical Ltd., Vaxess Technologies Inc., Subcuject Aps, Allergan PLC, Terumo Corporation, Stryker Corporation, Becton Dickinson and Company, Zimmer Biomet Holdings Inc., MediPrint Ophthalmics, Arrow International Inc., Alcon Inc., W. L. Gore & Associates Inc., Cook Medical LLC, Pinnacle Biologics Inc.
What Trends Are Expected to Dominate the Drug Device Combination Market in the Next 5 Years?
In order to maintain their market dominance, key firms in the drug combination device industry are pioneering new products like Trelegy Ellipta. This first-of-its-kind single-inhaler triple therapy device aids in delivering specific medication dosages to the lungs. In an example from April 2022, the UK-based pharmaceutical and biotech firm GSK launched Trelegy Ellipta. These inhalers are both compact and easily transportable. Trelegy Ellipta is utilized in the treatment of chronic obstructive pulmonary disease (COPD) and asthma. The ellipta inhalers can accommodate up to three different types of medicine in foil packaging for combination therapy. With its combination of three active ingredients - fluticasone furoate, umeclidinium, and vilanterol, the Trelegy Ellipta is a drug combination device. This device improves patient management of respiratory conditions via its integrated delivery system.
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Which Is The Largest Region In The Drug Device Combination Market?
North America was the largest region in the drug-device combination market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drug device combination market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Drug Device Combination Market?
2. What is the CAGR expected in the Drug Device Combination Market?
3. What Are the Key Innovations Transforming the Drug Device Combination Industry?
4. Which Region Is Leading the Drug Device Combination Market?
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