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Drug Device Combination Products Market: Elimination of Re-surgery to Make Biodegradable Drug Device Combination Products Attractive to Patients
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The rising geriatric population and with it the increasing prevalence of bone related disorders, cardiovascular diseases, and obesity, are fueling the need for drug device combination products. According to a research report by Transparency Market Research (TMR), the global drug device combination products market will rise from US$66 bn in 2012 to US$115 bn by 2019, exhibiting a CAGR of 7.9% from 2013 to 2019.
In this blog post, TMR answers three critical questions about the global drug device combination products market:
Q. Is there any defining future trend in the drug device combination products market?
Yes. The development of biodegradable drug device combination product is one of the trends that is here to stay. This is because, biodegradable devices significantly reduce the side effects associated with drug device combination products, as they do not stay in the body longer than required.
Most importantly, biodegradable drug devices eliminate the need for re-surgery. This is boosting the demand for biodegradable drug device combination products and has resulted in the introduction of products such as bio-absorbable stents and biodegradable copolymers.
Q. What are the new developments in drug device combination products by key players?
Retisert, a small device the size of a rice grain has been developed by Bausch & Lomb, Inc. The device is surgically implanted in the eye and releases precise amount of corticosteroid fluocinolone acetonide through a miniature incision, for around 2.5 years. This drug released by this device treats non-infectious uveitis which affects the posterior segment of the eye.
Boston Scientific, a U.S.-based company has come up with a product, Innova Drug-Eluting Stent System, which can restore blood flow in arteries above the knee. Covidien PLC, a healthcare products manufacturer based in Ireland, has launched AbsorbaTack 30X Absorbable Fixation Device, which aids in the effective repair of hernia.
Q. What are the challenges faced by the drug device combination products market?
Infection from the drug device combination product is one of the major risks inhibiting the adoption of these devices. Since the drug device is to be directly inserted in the body of a patient, the chances of bacterial and fungal infections are escalated.
Drug device combination products also face consistent threat of malfunctioning devices or devices that cause side effects. Such problems in devices incur huge losses to manufacturers and restrain the growth of the market. Moreover, these devices need to comply with the stringent FDA regulations and the approval period could last quite long. This can hamper the growth of the market.
Browse Research Report: http://www.transparencymarketresearch.com/drug-device-combination.html
Nevertheless, the increasing demand for technologically advanced devices from the patient population will allow the global drug device combination products market to grow.
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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