According to the latest report by IMARC Group, titled “Drug Device Combination Products Market Growth: Global Industry Trends, Share, Size, Opportunity and Forecast 2022-2027,” the market to reach US$ 214.53 Billion by 2027, exhibiting at a CAGR of 8.27% during 2022-2027.
Drug device combination products include medical devices and pharmaceutical ingredients that help deliver the drug to a preferred location in the patient’s body. They comprise drug-eluting stents, infusion pumps, inhalers, transdermal delivery systems, and prefilled syringes. They have minimal side effects and offer advantages like controlled drug administration and improved patient compliance.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Drug Device Combination Products Market Trends:
The growing prevalence of chronic diseases, such as asthma, cancer, diabetes, and cardiovascular disorders, represents one of the key factors driving the market. Moreover, rising preferences for smart and precision drug delivery systems, which minimize the amount of drug required for therapeutic efficacy, are driving the demand for drug device combination products across the globe. Besides this, several market players are introducing advanced technologies for tracking and monitoring different products. They are also expending on extensive research and development (R&D) activities to develop next-generation products with high viscosity and formulations. Furthermore, the growing popularity of minimally invasive surgery (MIS) and portable devices like nebulizers and inhalers are other growth-inducing factors positively influencing the market.
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Drug Device Combination Products Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Abbott Laboratories, Baxter International Inc., Bayer AG, Becton Dickinson and Company, Boston Scientific Corporation, GlaxoSmithKline plc, Johnson & Johnson, Medtronic plc, Novartis AG, Smith & Nephew plc, Stryker Corporation and Terumo Corporation.
The report has segmented the market on the basis on region, product, application, end user.
Breakup by Product:
- Drug Eluting Stents
- Transdermal Patches
- Infusion Pumps
- Drug Eluting Balloon
Breakup by Application:
- Cancer Treatment
- Respiratory Diseases
Breakup by End User:
- Ambulatory Surgical Centers
Breakup by Region:
- North America:(United States, Canada
- Asia-Pacific:(China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America;(Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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