According to the U.S. Food and Drug Administration, drug device combination products are defined as therapeutic products comprising an active pharmaceutical ingredient and a medical device that are physically and/or chemically, combined to be produced as a single product. The drug present in the device may be impregnated or surface coated. Such products can be designed for local as well as systemic administration of drug to the patient. Recently, combination products are emerging as innovative medical products due to their contribution in advancing medical care and are thus expected to have major impact in the coming years.
Moreover, these products offer several advantages which include reduced adverse side effects, improved patient compliance, controlled release administration of drug, and also provide targeted drug delivery. The major product types in the market include drug eluting stents, infusion pumps, photosensitizers, orthopedic combination products, wound care combination products, inhalers, transdermal patches and others which include intraocular implants and drug eluting beads. Various emerging technologies such as implants with drugs to permit faster healing, relief from pain and decreased morbidity currently form the major driver for the growth of this market. The global drug device combination products market was valued at USD 66 billion in 2012 and is expected to grow at a CAGR of 7.9% from 2013 to 2019, to reach an estimated value of USD 115billion in 2019.
High incidence rates of chronic pain causing diseases, prostate cancer, diabetic retinopathy, cardiovascular diseases, colorectal cancer, asthma, obesity along with rapidly aging global population also form the key drivers for the global drug device combination products market. Government and NGO initiatives to promote drug delivery implants, rising number of interventional cardiologists and increase in the demand for minimally invasive surgeries are some of the other factors propelling the growth of the market. Introduction of biodegradable drug delivery technologies willserve as future growth opportunities for various drug device combination products. However, product recalls act as a major growth restraint for the market due to incidences such as adverse side effects to the patient. Also, these products form a challenge to FDA owing to their classification overlapping the regulated products and thus complicating their approval process.
Geographically, North America dominated the global drug device combination products market and is expected to continue to lead in terms of revenue generation throughout the forecast period. The market in North American region was valued at USD 28.5 billion in the year 2012.Asia-Pacific is considered as the most lucrative market for drug device combination products owing to the increase in incidences of cardiovascular diseases, diabetes related disorders and obesity through 2019. The leading players in the market for drug device combination products are Abbott Laboratories, Inc., Medtronic, Inc., Boston Scientific Corporation, CareFusion Corporation, Allergen, Inc. and others.
Drug device combination products are defined as the individual products comprising of two regulated components, an active pharmaceutical ingredient and medical device that are chemically or physically combined to produce a single product. The drugs present in the device are either impregnated or surface coated. Combination products have emerged as innovative medical products due to their contribution in advancing medical care and are thus expected to have major impact on the overall medical devices market.
This report covers the market analysis for various drug device combination products from the perspective of product types. The stakeholders for this report include the present manufacturers and providers of drug device combination products as well as the new players who desire to enter this market. This report comprises an executive summary, which provides the market snapshot covering overall information about the various segments and sub-segments of drug device combination products market.
The market overview section of the report explains about the market dynamics and trends such as the drivers, restraints and opportunities that have an influence over current and future status of this market. Degree of competitiveness is explained through Porter’s five forces analysis and the most attractive regional market by type is represented in the market attractiveness analysis section of this report. All these factors will help the market players to decide about the business strategies and plans to be incurred in future for strengthening their position in the global market.
The global drug device combination products market has been differentiated into eight segments based on the product types. The products analyzed in this study are the drug eluting stents, infusion pumps, bone graft implants, photodynamic therapy, wound care combination devices, inhalers, transdermal patches and others (intraoral implants and drug eluting beads). Depending on types, these products are further differentiated into sub segments. Drug eluting stents has been segmented into coronary stents and peripheral vascular stents. Orthopedic combination products market includes two sub segments namely antibiotic bone cement and bone graft implants. Infusion pumps has been segmented into implantable infusion pumps and ambulatory infusion pumps. Inhalers market is further classified into three segments namely nebulizers, metered dose inhalers and dry powder inhalers. Each of the above product segments and sub-segments are analyzed on the basis of market size in terms of USD million for the period 2011 - 2019 along with compounded annual growth rate (CAGR %) for the period, considering 2012 as the base year.
Geographically, the drug device combination products market has been classified into four major segments namely, North America, Europe, Asia Pacific and Rest of the World. Market revenue for 2011 to 2012 and forecast for 2013 to 2019 for drug device combination products is analyzed in this report. This section also provides the CAGR % of each geographical region for the forecast period of 2013 to 2019. A competitive landscape, mapping all the market players and their respective market shares for 2012 are provided in this report for drug eluting stents and infusion pumps. A list of recommendations is also provided in this report to help market players in increasing their market share and new entrants in establishing their strong position in the market.
The report concludes with the company profile section which covers the key information such as company overview, financial overview, product portfolio, business strategies and recent developments about the major market players in the drug device combination products. Some of the major companies which are profiled in this report include Abbott Laboratories, Allergan, Inc., Alcon, Inc., Arrow International, Inc., Boston Scientific Corporation, CareFusion Corporation, Covidien PLC, C.R. Bard, Inc., Ethicon, Inc., Medline Industries, Inc., Medtronic, Inc., Mylan, Inc., Pinnacle Biologics, Inc., Stryker Corporation, Terumo Corporation, W.L. Gore & Associates, Inc.