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. 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.
Market Segmentation
MRFR report provides an extensive segmental analysis of the drug device combination market outlook 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 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.
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.
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.
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