Drug-device Combination Products Market Outlook 2028
- The global drug-device combination products market was valued at US$ 120 Bn in 2020
- It is estimated to expand at a CAGR of 7.3% from 2021 to 2028
- The global drug-device combination products market is expected to reach the value of US$ 221 Bn by the end of 2028
Analysts’ Viewpoint on Drug-device Combination Products Market Scenario
High incidence rates of chronic pain causing diseases are key drivers for the global drug-device combination products market. Initiatives by governments and NGOs to promote drug delivery implants, rising number of interventional cardiologists, and increasing demand for minimally invasive surgeries are some of the other factors propelling the growth of the drug-device combination products market. The introduction of biodegradable drug delivery technologies will serve 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 patients. These products form a challenge to FDA, due to their classification overlapping regulated products and thus, complicating their approval process.
Increase in Prevalence of Chronic Diseases to Drive Global Market
The rising incidence of chronic diseases such as chronic diseases and disorders, including cancer, diabetic retinopathy, cardiovascular diseases, colorectal cancer, asthma, and obesity, cardiac conditions, multiple sclerosis, etc. is a major factor expected to drive the global drug-device combination products market. Millions of people are suffering from chronic diseases across the globe. The rising geriatric population across the globe is also an important factor contributing to the market growth.
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. Growth of home-based healthcare industry and technological advancements such as development of prefilled syringes also contribute to market growth.
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Transdermal Patches to Create Lucrative Opportunities for Manufacturers
The global drug-device combination products market has been classified into drug eluting stents, infusion pumps, photosensitizers, orthopedic combination products, wound care combination products, inhalers, transdermal patches, and others. Transdermal patches are projected to be the most popular products in the upcoming years. This is due to increase in demand for self-administered drugs for diseases that require long-term treatment. Rising geriatric population across the globe is also creating value-grab opportunities for the companies operating in the drug device combination products market.
Insulin must be administered intravenously to diabetic patients on a regular basis. Repeated use of injections to deliver insulin causes pain and increases the risk of infection transmission. Hence, alternative drug delivery modes are expected to gain popularity. Drug-device combination products offer several advantages, which include reduced adverse side effects, improved patient compliance, controlled release administration of drug, and provide targeted drug delivery.
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Launch and Approval of Novel Drug-device Combination Products Boost Market Growth
Drug-device combination products are defined as individual products comprising 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. Such products can be designed for local as well as systemic administration of drug to the patient. Key players in the global drug-device combination products market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global market during the forecast period. Recently, combination products are emerging as innovative medical products due to their contribution in advancing medical care and are, thus, projected to have a major impact in the upcoming years.
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Potential Growth Opportunities for Drug-device Combination Products Market Players in North America
North America is expected to account for the largest share of the global drug-device combination products market. The North America market is significantly driven by rise in incidence of chronic diseases such as diabetes, cancer, and respiratory problems, increase in casualties, owing to accidents and trauma, and rise in geriatric population. Asia Pacific is also considered as the most lucrative market for drug-device combination products due to increase in incidences of cardiovascular diseases, diabetes-related disorders, and obesity. Moreover, improving healthcare infrastructure and high market potential in untapped emerging economies are anticipated to provide lucrative growth opportunities for Asia Pacific market players.
However, factors, such as unnoticed complications of drug-device combination products, number of product recalls, and stringent government regulations hamper market growth.
Drug-device Combination Products Market: Overview
- According to Transparency Market Research’s latest report on the global drug-device combination products market for the historical period, 2017–2019, and forecast period from 2021 to 2028, increase in geriatric population and technological advancements in drug delivery systems are projected to boost the growth of the global market during the forecast period
Rise in Prevalence of Chronic Diseases such as Diabetes, Respiratory Diseases, and Cancer: Key Driver
- Rise in prevalence of chronic diseases and disorders such as cancer, cardiac conditions, multiple sclerosis, and diabetes is expected to fuel market growth
- According to the National Center for Biotechnology Information (NCBI), around 126 million people (1,655 per 100,000) suffered from ischemic heart disease in 2017, accounting for 1.72% of the global population
- Increase in the geriatric population is likely to fuel the growth of the global market during the forecast period. According to the United States Census Bureau, the geriatric population in the U.S. is projected to reach 77 million by 2034.
Risk of Infections and Strict Regulations on Drug-device Combination Products: Key Restraint
- Drug-device combination products increase the risk of infection, which is anticipated to hamper market growth. Stent infection is uncommon; however, it is associated with significant morbidity and mortality.
- Presence of a strict and non-specific regulatory pathway for drug-device combination product approval is expected to restrain the global market. In the U.S., pharmaceutical products and medical devices have separate regulatory approval pathways. Pharmaceutical products use the investigational new drug (IND) application process, while medical devices use the investigational device exemption (IDE) pathway.
Drug-device Combination Products Market: Competitive Landscape
- This report profiles major players in the global drug-device combination products market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global drug-device combination products market is quite competitive, with the top ten players accounting for major share of the market and companies focusing on research & development to develop better pharmaceutical and vaccine products for the existing diseases
- Leading players operating in the global drug-device combination products market are
- Teva Pharmaceutical Industries Ltd.
- AbbVie, Inc.
- Abbott Laboratories
- Medtronic plc
- Kaleo
- SINOMED, Alcon, Inc.
- Boston Scientific Corporation
- Integer Holdings Corporation
- Teleflex Incorporated
- Bausch Health Companies, Inc.
- Haselmeier GmbH
- Flowonix Medical, Inc.
Drug-device Combination Products Market: Key Developments
- Key players in the global drug-device combination products market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global drug-device combination products market. A few expansion strategies adopted by players operating in the global drug-device combination products market are:
- In August 2020, Teva Pharmaceutical Industries Ltd. made its generic version of Mylan's EpiPen for children available in most retail pharmacies
- In February 2020, Flowonix Medical, Inc. received the FDA approval for its Prometra II Programmable Pump System for use with intrathecal baclofen. The Prometra II Pump employs a pressure-driven, valve-gated delivery mechanism to deliver medication boluses into the intrathecal space.
- The report on the global drug-device combination products market discusses individual strategies, followed by company profiles of manufacturers of drug-device combination products. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global drug-device combination products market.
Drug-device Combination Products Market Snapshot
|
Attribute |
Detail |
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Market Size Value in 2020 |
US$ 120 Bn |
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Market Forecast Value in 2028 |
US$ 221 Bn |
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Growth Rate (CAGR) |
7.3% |
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Forecast Period |
2021–2028 |
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Quantitative Units |
US$ Mn for Value |
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Market Analysis |
It includes cross segment analysis at global as well as regional level. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, and parent industry overview. |
|
Competition Landscape |
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|
Format |
Electronic (PDF) + Excel |
|
Market Segmentation |
Product type
|
|
Regions Covered |
|
|
Countries Covered |
|
|
Companies Profiled |
|
|
Customization Scope |
Available upon request |
|
Pricing |
Available upon request |
Drug-device Combination Products Market – Segmentation
| Product Type |
|
| Region |
|
Frequently Asked Questions
What is the total market worth of drug-device combination products market?
Drug-device combination products market is expected to reach the value of US$ 221 Bn by the end of 2028
What is the anticipated CAGR of the drug-device combination products market in the forecast period?
Drug-device combination products market is estimated to expand at a CAGR of 7.3% from 2021 to 2028
What are the key driving factors for the growth of the drug-device combination products market?
Drug-device combination products market is driven by high incidence rates of chronic pain causing diseases
Which region is expected to project the highest market share in the global drug-device combination products market?
North America is expected to account for the largest share of the global drug-device combination products market
Who are the key players in the global drug-device combination products market?
Key players in the global drug-device combination products market include Teva Pharmaceutical Industries Ltd., AbbVie, Inc., Abbott Laboratories, Medtronic plc, Kaleo, SINOMED
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Drug-device Combination Products Market
4. Market Overview
4.1. Introduction
4.1.1. Product Type Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Global Drug-device Combination Products Market Analysis and Forecast, 2017-2028
5. Key Insights
5.1. Key Mergers & Acquisitions
5.2. Technological Advancements
5.3. Covid19 Impact Analysis
5.4. Regulatory Scenario by Region/globally
6. Global Drug-device Combination Products Market Analysis and Forecast, by Product Type
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Product Type, 2017-2028
6.3.1. Drug Eluting Stents
6.3.1.1. Coronary Stents
6.3.1.2. Peripheral Vascular Stents
6.3.2. Infusion Pumps
6.3.2.1. Implantable Infusion Pumps
6.3.2.2. Ambulatory Infusion Pumps
6.3.3. Inhalers
6.3.3.1. Metered Dose Inhalers
6.3.3.2. Dry Powder Inhalers
6.3.3.3. Nebulizers
6.3.4. Orthopedic Combination Products
6.3.4.1. Bone Graft Implants
6.3.4.2. Antibiotic Loaded Bone Cement
6.3.5. Wound Care Combination Products
6.3.6. Photosensitizers
6.3.7. Others
6.4. Market Attractiveness Analysis, by Product Type
7. Global Drug-device Combination Products Market Analysis and Forecast, by Region
7.1. Key Findings
7.2. Market Value Forecast, by Region
7.2.1. North America
7.2.2. Europe
7.2.3. Asia Pacific
7.2.4. Latin America
7.2.5. Middle East & Africa
7.3. Market Attractiveness Analysis, by Region
8. North America Drug-device Combination Products Market Analysis and Forecast
8.1. Introduction
8.1.1. Key Findings
8.2. Market Value Forecast, by Product Type, 2017-2027
8.2.1. Drug Eluting Stents
8.2.1.1. Coronary Stents
8.2.1.2. Peripheral Vascular Stents
8.2.2. Infusion Pumps
8.2.2.1. Implantable Infusion Pumps
8.2.2.2. Ambulatory Infusion Pumps
8.2.3. Inhalers
8.2.3.1. Metered Dose Inhalers
8.2.3.2. Dry Powder Inhalers
8.2.3.3. Nebulizers
8.2.4. Orthopedic Combination Products
8.2.4.1. Bone Graft Implants
8.2.4.2. Antibiotic Loaded Bone Cement
8.2.5. Wound Care Combination Products
8.2.6. Photosensitizers
8.2.7. Others
8.3. Market Value Forecast by Country, 2017-2027
8.3.1. U.S.
8.3.2. Canada
8.4. Market Attractiveness Analysis
8.4.1. By Product Type
8.4.2. By Country
9. Europe Drug-device Combination Products Market Analysis and Forecast
9.1. Introduction
9.1.1. Key Findings
9.2. Market Value Forecast, by Product Type, 2017-2027
9.2.1. Drug Eluting Stents
9.2.1.1. Coronary Stents
9.2.1.2. Peripheral Vascular Stents
9.2.2. Infusion Pumps
9.2.2.1. Implantable Infusion Pumps
9.2.2.2. Ambulatory Infusion Pumps
9.2.3. Inhalers
9.2.3.1. Metered Dose Inhalers
9.2.3.2. Dry Powder Inhalers
9.2.3.3. Nebulizers
9.2.4. Orthopedic Combination Products
9.2.4.1. Bone Graft Implants
9.2.4.2. Antibiotic Loaded Bone Cement
9.2.5. Wound Care Combination Products
9.2.6. Photosensitizers
9.2.7. Others
9.3. Market Value Forecast, by Country/Sub-region, 2017-2027
9.3.1. Germany
9.3.2. U.K.
9.3.3. France
9.3.4. Italy
9.3.5. Spain
9.3.6. Rest of Europe
9.4. Market Attractiveness Analysis
9.4.1. By Product Type
9.4.2. By Country
10. Asia Pacific Drug-device Combination Products Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. Market Value Forecast, by Product Type, 2017-2027
10.2.1. Drug Eluting Stents
10.2.1.1. Coronary Stents
10.2.1.2. Peripheral Vascular Stents
10.2.2. Infusion Pumps
10.2.2.1. Implantable Infusion Pumps
10.2.2.2. Ambulatory Infusion Pumps
10.2.3. Inhalers
10.2.3.1. Metered Dose Inhalers
10.2.3.2. Dry Powder Inhalers
10.2.3.3. Nebulizers
10.2.4. Orthopedic Combination Products
10.2.4.1. Bone Graft Implants
10.2.4.2. Antibiotic Loaded Bone Cement
10.2.5. Wound Care Combination Products
10.2.6. Photosensitizers
10.2.7. Others
10.3. Market Value Forecast, by Country/Sub-region, 2017-2027
10.3.1. Japan
10.3.2. China
10.3.3. India
10.3.4. Australia & New Zealand
10.3.5. Rest of Asia Pacific
10.4. Market Attractiveness Analysis
10.4.1. By Product Type
10.4.2. By Country
11. Latin America Drug-device Combination Products Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Market Value Forecast, by Product Type, 2017-2027
11.2.1. Drug Eluting Stents
11.2.1.1. Coronary Stents
11.2.1.2. Peripheral Vascular Stents
11.2.2. Infusion Pumps
11.2.2.1. Implantable Infusion Pumps
11.2.2.2. Ambulatory Infusion Pumps
11.2.3. Inhalers
11.2.3.1. Metered Dose Inhalers
11.2.3.2. Dry Powder Inhalers
11.2.3.3. Nebulizers
11.2.4. Orthopedic Combination Products
11.2.4.1. Bone Graft Implants
11.2.4.2. Antibiotic Loaded Bone Cement
11.2.5. Wound Care Combination Products
11.2.6. Photosensitizers
11.2.7. Others
11.3. Market Value Forecast, by Country/Sub-region, 2017-2027
11.3.1. Brazil
11.3.2. Mexico
11.3.3. Rest of Latin America
11.4. Market Attractiveness Analysis
11.4.1. By Product Type
11.4.2. By Country
12. Middle East & Africa Drug-device Combination Products Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Market Value Forecast by Product Type, 2017-2027
12.2.1. Drug Eluting Stents
12.2.1.1. Coronary Stents
12.2.1.2. Peripheral Vascular Stents
12.2.2. Infusion Pumps
12.2.2.1. Implantable Infusion Pumps
12.2.2.2. Ambulatory Infusion Pumps
12.2.3. Inhalers
12.2.3.1. Metered Dose Inhalers
12.2.3.2. Dry Powder Inhalers
12.2.3.3. Nebulizers
12.2.4. Orthopedic Combination Products
12.2.4.1. Bone Graft Implants
12.2.4.2. Antibiotic Loaded Bone Cement
12.2.5. Wound Care Combination Products
12.2.6. Photosensitizers
12.2.7. Others
12.3. Market Value Forecast, by Country/Sub-region, 2017-2027
12.3.1. GCC Countries
12.3.2. South Africa
12.3.3. Rest of Middle East & Africa
12.4. Market Attractiveness Analysis
12.4.1. By Product Type
12.4.2. By Country
13. Competition Landscape
13.1. Market Player - Competition Matrix (by tier and size of companies)
13.2. Market Share Analysis, by Company, 2020
13.3. Company Profiles
13.3.1. Teva Pharmaceutical Industries Ltd.
13.3.1.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.1.2. Financial Analysis
13.3.1.3. Growth Strategies
13.3.1.4. SWOT Analysis
13.3.2. AbbVie, Inc.
13.3.2.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.2.2. Financial Analysis
13.3.2.3. Growth Strategies
13.3.2.4. SWOT Analysis
13.3.3. Abbott Laboratories
13.3.3.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.3.2. Financial Analysis
13.3.3.3. Growth Strategies
13.3.3.4. SWOT Analysis
13.3.4. Medtronic plc
13.3.4.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.4.2. Financial Analysis
13.3.4.3. Growth Strategies
13.3.4.4. SWOT Analysis
13.3.5. Kaleo, Inc.
13.3.5.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.5.2. Financial Analysis
13.3.5.3. Growth Strategies
13.3.5.4. SWOT Analysis
13.3.6. SINOMED
13.3.6.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.6.2. Financial Analysis
13.3.6.3. Growth Strategies
13.3.6.4. SWOT Analysis
13.3.7. Alcon, Inc.
13.3.7.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.7.2. Financial Analysis
13.3.7.3. Growth Strategies
13.3.7.4. SWOT Analysis
13.3.8. Boston Scientific Corporation
13.3.8.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.8.2. Financial Analysis
13.3.8.3. Growth Strategies
13.3.8.4. SWOT Analysis
13.3.9. Integer Holdings Corporation
13.3.9.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.9.2. Financial Analysis
13.3.9.3. Growth Strategies
13.3.9.4. SWOT Analysis
13.3.10. Teleflex Incorporated
13.3.10.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.10.2. Financial Analysis
13.3.10.3. Growth Strategies
13.3.10.4. SWOT Analysis
13.3.11. Bausch Health Companies Inc
13.3.11.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.11.2. Financial Analysis
13.3.11.3. Growth Strategies
13.3.11.4. SWOT Analysis
13.3.12. Haselmeier GmbH
13.3.12.1. Company Overview (HQ, Business Segments, Employee Strength)
13.3.12.2. Financial Analysis
13.3.12.3. Growth Strategies
13.3.12.4. SWOT Analysis
List of Tables
Table 01: Global Drug-device Combination Products Market Value (US$ Mn) Forecast, by Product Type, 2017–2027
Table 02: Global Drug-device Combination Products Market Value (US$ Mn) Forecast, by Region, 2017–2027
Table 03: North America Drug-device Combination Products Market Value (US$ Mn) Forecast, by Country, 2017–2027
Table 04: North America Drug-device Combination Products Market Value (US$ Mn) Forecast, by Product Type, 2017–2027
Table 05: Europe Drug-device Combination Products Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2027
Table 06: Europe Drug-device Combination Products Market Value (US$ Mn) Forecast, by Product Type, 2017–2027
Table 07: Asia Pacific Drug-device Combination Products Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2027
Table 08: Asia Pacific Drug-device Combination Products Market Value (US$ Mn) Forecast, by Product Type, 2017–2027
Table 09: Latin America Drug-device Combination Products Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2027
Table 10: Latin America Drug-device Combination Products Market Value (US$ Mn) Forecast, by Product Type, 2017–2027
Table 11: Middle East & Africa Drug-device Combination Products Market Value (US$ Mn) Forecast, by Country/Sub-region, 2017–2027
Table 12: Middle East & Africa Drug-device Combination Products Market Value (US$ Mn) Forecast, by Product Type, 2017–2027
List of Figures
Figure 01: Global Drug-device Combination Products Market Value Share Analysis, by Product Type, 2021 and 2027
Figure 02: Global Drug-device Combination Products Market Attractiveness Analysis, by Product Type, 2021–2027
Figure 03: North America Drug-device Combination Products Market Value (US$ Mn) Forecast, 2017–2027
Figure 04: North America Drug-device Combination Products Market Value Share Analysis, by Country, 2021 and 2027
Figure 05: North America Drug-device Combination Products Market Attractiveness Analysis, by Country, 2021–2027
Figure 06: North America Drug-device Combination Products Market Value Share Analysis, by Product Type, 2021 and 2027
Figure 07: North America Drug-device Combination Products Market Attractiveness Analysis, by Product Type, 2021–2027
Figure 08: Europe Drug-device Combination Products Market Value (US$ Mn) Forecast, 2017–2027
Figure 09: Europe Drug-device Combination Products Market Value Share Analysis, by Country/Sub-region, 2021 and 2027
Figure 10: Europe Drug-device Combination Products Market Attractiveness Analysis, by Country/Sub-region, 2021–2027
Figure 11: Europe Drug-device Combination Products Market Value Share Analysis, by Product Type, 2021 and 2027
Figure 12: Europe Drug-device Combination Products Market Attractiveness Analysis, by Product Type, 2021–2027
Figure 13: Asia Pacific Drug-device Combination Products Market Value (US$ Mn) Forecast, 2017–2027
Figure 14: Asia Pacific Drug-device Combination Products Market Value Share Analysis, by Country/Sub-region, 2021 and 2027
Figure 15: Asia Pacific Drug-device Combination Products Market Attractiveness Analysis, by Country/Sub-region, 2021–2027
Figure 16: Asia Pacific Drug-device Combination Products Market Value Share Analysis, by Product Type, 2021 and 2027
Figure 17: Asia Pacific Drug-device Combination Products Market Attractiveness Analysis, by Product Type, 2021–2027
Figure 18: Latin America Drug-device Combination Products Market Value Share Analysis, by Country/Sub-region, 2021 and 2027
Figure 19: Latin America Drug-device Combination Products Market Attractiveness Analysis, by Country/Sub-region, 2021–2027
Figure 20: Latin America Drug-device Combination Products Market Attractiveness Analysis, by Product Type, 2021–2027
Figure 21: Middle East & Africa Drug-device Combination Products Market Value Share Analysis, by Country/Sub-region, 2021 and 2027
Figure 22: Middle East & Africa Drug-device Combination Products Market Attractiveness Analysis, by Country/Sub-region, 2021–2027
Figure 23: Middle East & Africa Drug-device Combination Products Market Attractiveness Analysis, by Product, 2021–2027
