Drug Device Combination Products Market

Global drug device combination products are innovative solutions in the field of healthcare that integrate drugs, devices, and/or biological products. These products combine the therapeutic properties of drugs with the functionality of medical devices, resulting in safer and more effective treatments for patients. The combination of drugs and medical devices allows for targeted and precise delivery of medications, enhancing the efficacy of the treatment. For example, drug-eluting stents release medication directly at the site of a blocked artery, promoting faster healing and reducing the risk of restenosis. drug device combination products offer several advantages over traditional therapies. They can simplify treatment regimens by combining multiple therapies into a single product, reducing the burden on patients and healthcare providers. This can lead to improved patient adherence to treatment plans and better health outcomes.

Market Dynamics:

Rise in burden of chronic disorders, growing geriatric population, favorable government policies or initiatives to ensure patient safety, the outbreak of COVID-19 (pandemic), and the introduction of novel products by market players are major factors expected to drive growth of the global drug device combination product market over the forecast period.

For instance, according to the Centers for Disease Control and Prevention (CDC), 6 in 10 people in the U.S. live with at least one chronic disease, such as heart disease and stroke, cancer, or diabetes. These and other chronic diseases are the leading causes of death and disability in the U.S., and they are also a leading driver of health care costs.

Moreover, in October 2020, Medtronic received the U.S. Food and Drug Administration (FDA) approval for the Abre Venous Self-Expanding Stent System. The system is indicated for use in the iliofemoral veins in patients with symptomatic iliofemoral venous outflow obstruction.

Key features of the study:

• This report provides in-depth analysis of the global drug device combination product market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global drug device combination product market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include AbbVie Inc. (Allergan), Terumo Corporation, GlaxoSmithKline PLC, Novartis AG, Medtronic PLC, Abbott Laboratories, Boston Scientific Corp., W L Gore and Associates Inc., Stryker Corporation, and Becton, Dickinson and Company,
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global drug device combination product market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analystsStakeholders would have ease in decision-making through various strategy matrices used in analyzing the global drug device combination product market

Detailed Segmentation:

• Global Drug Device Combination Product Market, By Products:
  • Drug Eluting Stents
  • Transdermal Patches
  • Infusion Pumps
  • Drug Eluting Balloon
  • Inhalers
  • Other Products
• Global Drug Device Combination Product Market, By Application:
  • Cardiovascular
  • Diabetes
  • Cancer Treatment
  • Respiratory Diseases
  • Other Applications
• Global Drug Device Combination Product Market, By End User:
  • Hospitals
  • Ambulatory Surgical Centers
  • Other End User
• Global Drug Device Combination Product Market, By Region:
  • North America
    
    • U.S.
    • Canada
  • Latin America
    
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa
    
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    
    • South Africa
    • Central Africa
    • North Africa
• Company Profiles:
  • AbbVie Inc. (Allergan)
  • Terumo Corporation
  • GlaxoSmithKline PLC
  • Novartis AG
  • Medtronic PLC
  • Abbott Laboratories
  • Boston Scientific Corp.
  • W L Gore and Associates Inc.
  • Stryker Corporation
  • Becton, Dickinson and Company