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Drug-device Combination Products Market to Reach Valuation of US$ 221 Bn by 2028: Transparency Market Research

Healthcare |

Drug-device Combination Products Market: Introduction

According to the report, the global drug device combination products market was valued at US$ 120.0 Bn in 2020 and is projected to expand at a CAGR of 7.3% from 2021 to 2028. 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.

Increase in incidence of chronic diseases such as diabetes, cancer, and respiratory problems; rise in casualties due to accidents & trauma, surge in the geriatric population, growth of the home-based healthcare market, and technological advancements such as the development of prefilled syringes boost the growth of the global drug-device combination products market.

Rise in Prevalence of Chronic Diseases to Dominate Global Market

The increase in prevalence of chronic diseases and disorders such as cancer, cardiac conditions, multiple sclerosis, and diabetes is expected to fuel the growth of the global market over the next few years. According to the National Center for Biotechnology Information (NCBI), ischemic heart disease affected around 126 million people (1,655 per 100,000) in 2017, accounting for 1.72% of the global population.

Transdermal Patches to be Highly Lucrative Segment

In terms of product, 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 the most popular products. This is due to increase in demand for self-administered drugs for diseases that require long-term treatment. Insulin, for instance, 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.

North America to Dominate Global Market

In terms of region, the global drug device combination products market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to be a highly lucrative market for drug-device combination products during the forecast period. Increase in presence of patented nanomedical products across the region is a major factor driving the market. North America dominated the global drug-device combination products market in terms of revenue in 2020, and the trend is expected to continue during the forecast period.

Asia Pacific is likely to be the most lucrative market for drug-device combination products during the forecast period due to increase in incidence of cardiovascular diseases, diabetes-related disorders, and obesity.

Competition Landscape

The global drug device combination products market is fragmented in terms of number of players. Key players in the global market include 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, and Flowonix Medical, Inc.

Global Drug-device Combination Products Market: Segmentation

Drug-device Combination Products Market, by Product Type

  • Drug Eluting Stents
    • Coronary Stents
    • Peripheral Vascular Stents
  • Infusion Pumps
    • Implantable Infusion Pumps
    • Ambulatory Infusion Pumps
  • Photosensitizers
  • Orthopedic Combination Products
    • Bone Graft Implants
    • Antibiotic Loaded Bone Cement
  • Wound Care Combination Products
  • Inhalers
    • Metered Dose Inhalers
    • Dry Powder Inhalers
    • Nebulizers
  • Transdermal Patches
  • Others
    • Intraocular Implants
    • Drug Eluting Beads

Drug Device Combination Products Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Australia
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • GCC Countries
    • Rest of Middle East & Africa

About Healthcare Industry at Transparency Market Research

TMR’s business intelligence reports on the healthcare sector study the dynamic ecosystems that healthcare institutions today operate in. The need to integrate next-gen technologies at every step of health services that stakeholders in the healthcare sector are subject to are deeply covered in our reports.

Our groundbreaking research covers the intricacies of managed healthcare and patient-centric solutions that make them insightful for business leaders in the healthcare sector.

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