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.
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*Browse 40 market data tables and 33 figures on "Global Drug Device Combination Product Market”- forecast to 2030
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