Market Analysis
The
global drug device combination market share is predicted to grow at a whopping
7.2% CAGR over the assessment period 2023-2032. Drug-device combination
products relate a drug with that of a medical device to bridge various
regulatory frameworks (device or drug). This can be a single product having
several components such as drug-eluting stents, transdermal patches or products
that are separately packed yet intended for use exclusively with a definite
counterpart. Drug-device combination products offer an array of advantages
namely targeted drug delivery, improved patient compliance, controlled drug
administration and minimal side effects. Owing to its increased sophistication
and different advantages, drug device combination products are widely adopted all
across the medical sector.
There
are plentiful factors that is boosting the growth of the drug device
combination market research. These factors as per the Market Research
Future (MRFR) report include increasing incidences of urology, prostate cancer,
diabetic neuropathy, colorectal cancer, respiratory problems and cardiovascular
diseases, growing healthcare expenditure, increasing awareness of market
products, growing geriatric population, technological advancements in the
drug-device combination product, increase in homebased healthcare market, high
market potential, and increase in healthcare expenditure. On the contrary, side
effects, existence of low-income countries, soaring price of products, strict
government rules for the approval of these devices and errors and
post-complications leading to various product recalls are factors that may
deter drug device combination market growth.
Key Players
Drug
device combination market players profiled in the industry include
Zimmer
Holding, Inc,
Wright
Medical Group, Inc.,
Stryker
Corporation,
St.
Jude Medical Inc,
Smith
& Nephew Plc,
Covidien
Ltd,
Cook
Critical Care, Inc.,
C.R.
BARD, Inc.,
Boston
Scientific Corporation,
Biotronik,
Biometrix
Medical,
Biomet
Orthopedics, Inc,
AlloSource,
Abbott
Laboratories,
3M,
and others.
Market Segmentation
MRFR
report provides an extensive segmental analysis of the drug device combination
market on the basis of product, application and end-users.
Based
on product, it is segmented into advanced wound care products, catheter and
others. Catheter is again segmented into wound drainage catheter,
thermodilution catheters, oximetry catheters, cardiovascular catheters,
urological catheters, antimicrobial catheter and others. Advanced wound care
products are again segmented into photodynamic therapy, drug eluting stents,
antibiotic bone cements, bone graft substitutes and antibiotic wound care. Bone
graft substitutes is again segmented into cell-based bone graft substitutes,
allograft-based bone graft substitutes, ceramic based bone graft substitute and
others.
Based
on application, the drug device
combination market trends is segmented into ophthalmic treatment,
wound care, antimicrobial applications, bone treatment, peripheral arterial
disease, non-cardiovascular treatments, tachycardia management, coronary
angioplasty and others.
Based
on end-users, it is segmented into academic and research organization,
ambulatory centers, hospitals and clinics and others.
Regional Analysis
By
region, the drug device combination market insights covers growth opportunities
and latest trends across the Americas, Europe, Asia Pacific and Middle East and
Africa. Of these, the Americas will sway the market over the assessment period
owing to increasing incidence of cardiovascular diseases, presence of key
market players, developed healthcare sector in Canada and the US, high
healthcare expenditure and suitable reimbursement policies. In the European
region, the drug device combination market will have the second major share due
to huge patient pool, presence of developed economies, increasing awareness
about the device and presence of healthcare infrastructure that is
well-developed. In the APAC region, the drug device combination market is
expected to grow at the fastest pace owing to growing support from the
government for foreign investments, growing healthcare sector and growing
penetration of market players here. On the other hand, the drug device
combination market in the Middle East and Africa will have minimal share in the
market owing to low per capita income and presence of poor economies. The
Middle East is anticipated to have a major share in the drug device combination
market owing to presence of developed economies such as Dubai, Saudi Arabia,
United Arab Emirates and others and increasing funds made by the government in
the healthcare sector.
About US:
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Research Future (MRFR), enable customers to unravel the complexity of various
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