Global Drug-Device Combination Products Market By Product Type, By Application, and By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2032
- Published date: May 2023
- Report ID: 54764
- Number of Pages: 344
The Drug-Device Combination Products Market size is expected to be worth around USD 275554.90 million by 2031 from USD 119,650 million in 2021, growing at a CAGR of 8.7% during the forecast period 2021 to 2031
The market is driven principally by a physician and patient preference towards minimally invasive procedures and consistent-dosing treatment options. Drug-Device Combination Products Market saw a positive impact due to the increased use of certain combination drugs during COVID-19. The U.S. Food and Drug Administration granted an emergency use authorization (EUA), in November 2020, for baricitinib and/or remdesivir combination in hospitalized adult and pediatric patients 2 years and older who need supplemental oxygen or invasive medical ventilation or extracorporeal oxygenation in the treatment of COVID-19 (ECMO).
Global Drug-Device Combination Products Market Scope:
Product Type Analysis
Transdermal patch sales grew to be the largest in 2021 at 34.0%. The increasing demand for self-medication in the case of long-term conditions can explain this market trend analysis. Insulin, for instance, must be given intravenously to patients with diabetes. Repeated insulin injections cause pain, increase infection transmission risk, and can lead to higher growth prospects for other drug delivery options.
Transdermal patches have many benefits. They are easier to apply and more patient-friendly. In addition, patients are more comfortable with pain-free drug delivery. This has led to a substantial increase in the popularity of adhesive skin patches for administering drugs. Drug-Device Combination Products Market is expected to have tremendous growth potential during the forecast period. The segment inhalers are predicted to see a profitable growth rate over the forecast period due to the growing prevalence of chronic diseases such as diabetes, tuberculosis, and chronic obstructive breathing disease (COP), which require more intensive treatment. Technological advancements like particle engineering, agglomerated-vesicle tech, incorporation MDI technology, and supercritical fluid tech are expected to boost the segment’s growth.
In 2021, the respiratory disease problem segment held the largest market share, while the antimicrobial segment is expected to grow faster during the forecast period. As per WHO, 3.23 million deaths occurred due to Chronic obstructive pulmonary disease, the 3rd leading cause of death worldwide. Among these deaths, around 70% of deaths in the age group below 70 occur in low and middle-income countries.
Key Market Segments:
- Infusion Pumps
- Orthopedic Combination Products
- Bone Graft Implants
- Antibiotic Bone Cement
- Photodynamic Therapy Devices
- Transdermal Patches
- Drug Eluting Stents
- Coronary Stents
- Peripheral Vascular Stents
- Wound Care Products
- Dry Powder
- Metered Dose
- Antimicrobial Catheters
- Other Products
- Cardiovascular Disorders
- Respiratory disease Problems
- Cancer Treatment
- Antimicrobial Application
- Other Applications
Article 117 of Medical Devices Regulations (MDR) mandates that manufacturers seek a Notified body Opinion before placing drug/device combination goods on the market as integral devices or marketing them as a “medicinal Product” (NBOp). The notified entity certifies the device’s compliance with the General Safety and Performance Requirements and provides an NBOp Report for the manufacturer to include in their Market Authorization Application. Drug-Device Combination Products Market items include autoinjectors (inhalers), pre-filled pens, prefilled needles, and transdermal patches.
These associated benefits have led to a rise in the popularity of these products. They are associated with lower pain levels and better patient outcomes. Synergistic effects facilitate multi-target treatment. They also simplify dosage regimes and improve pharmacokinetic, symptomatic, and tolerance levels. These benefits will increase demand for these systems and provide the market with many growth possibilities.
Government funding of health organizations also drives the market to maintain patient safety. The U.S. FDA set up the Office of Combination Products, designed to help with the regulatory challenges of the Drug-Device Combination Products Market. Furthermore, large pharmaceutical firms’ large-scale development of medical devices and clinical drugs is expected to increase the demand for advanced medication delivery techniques. This has enabled the industry to have a wide product portfolio and maximize commercial returns on previously established products.
North America was the dominant market share, with over 40% in 2021. This is largely due to the extensive product development that top players in this area have undertaken. The high demand for these products is likely due to the region’s growing chronic disease burden. This is believed to contribute to North American growth.
Asia Pacific is expected to have a significant market growth rate over the forecast time. The growing healthcare spending has contributed to this substantial growth. major Regions’ market growth is also due in part to rising physician awareness of the benefits these products offer, including low dosage requirements and time release of medication, direct mitigation or device-centered infectious disease using anti-infective combination medication, and lower systemic exposure. High R&D investments from Drug-Device Combination Products Market leaders and increased commercialization of the systems developed by major players drive this market.
APAC will enjoy lucrative growth opportunities during the forecast period due to the urgent requirement for developing and replacing medical infrastructure. It is also expected that this region will see increased growth because of the stringent regulatory policies adopted by healthcare organizations to ensure high safety standards.
Key Regions and Countries covered in the report:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East
- South Africa
- Rest of Middle East
Major players are heavily involved in expanding strategies, new product design activities, and mergers & acquisitions. These actions have significantly contributed to their growth. High operating costs, a strict regulatory framework, capital requirements, and high capital requirements make entry barriers higher. Because of this, the risk of new entrants should be low.
Abbott laboratories got CE Mark’s approval for the new FlexNav delivery system for their Portico transcatheter aortic valve implantation (TAVI) device in March 2020.
Medtronic’s MiniMed 630G System insulin pump was launched in the U.S. in 2016. The product launch was made to provide diabetes treatment to patients 16 years or older and aid in personalized diabetes management. In 2016, the company unveiled the New Resolute Onyx drug-eluting stent. The stent is available in different sizes in Europe. Medtronic expanded its reach geographically and offered treatment options to patients suffering from the disease. Some of the market players in today’s market of Drug-Device Combination Products Market include:
Market Key Players:
- Mylan N.V.
- Allergan plc
- Abbott Laboratories
- GlaxoSmithKline plc
- Terumo Corporation
- Stryker Corporation
- Teleflex Incorporated
- L. Gore & Associates, Inc.
- Boston Scientific Corporation
- Another major market player
For the Drug-Device Combination Products Market research study, the following years have been considered to estimate the market size:
Attribute Report Details
Market Size in 2022
USD 119,650 million
Forecast Value in 2032
USD 27,5554.90 million
Short Term Projection Year
Long Term Projection Year
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
North America, Europe, Asia-Pacific, South America, Middle East & Africa
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Frequently Asked Questions (FAQ)What is the size of the Drug-Device Combination Products market in 2021?
The Drug-Device Combination Products market size is US$ 119,650 million in 2021.What is the projected CAGR at which the Drug-Device Combination Products market is expected to grow?
The Drug-Device Combination Products market is expected to grow at a CAGR of 8.7% (2023-2032).List the detailed market segmentation encompassed in this report on the Drug-Device Combination Products market?
Market.US has drug device combination market segmentation by geography (North America, Europe, APAC, South America, and Middle East and Africa). By Product Type, the market has been segmented into Infusion Pumps, Orthopedic disease Combination Products, Photodynamic Therapy Devices, Transdermal Patches, Drug Eluting Stents, Wound Care Products, Inhalers, Antimicrobial Catheters, and Other Products. By basis of core Application, the market has been segmented into Cardiovascular disease, Diabetes, Respiratory disease Problems, Cancer Treatment, Antimicrobial Application, and Others.List the industry major company of the Drug-Device Combination Products market?
Mylan N.V., Medtronic, Allergan plc, Abbott, Terumo Corporation, Stryker Corporation, Teleflex Incorporated, Abbott Laboratories, W. L. Gore & Associates, Inc., Boston Scientific Corporation, Other Key Players are engaged in the Drug-Device Combination Products market.Which region is more appealing for vendors employed in the Drug-Device Combination Products market?
North America accounted for the highest revenue share at 41.2%. Therefore, North America's Drug-Device Combination Products industry is expected to garner significant business opportunities over the forecast period.
- Infusion Pumps
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