Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Drug-device combination products are therapeutic and diagnostic products including a drug and a medical device. Prefilled syringes, drug coated devices, and co-packages are some of the examples of traditional drug/device combination products.
The global drug-device combination products market is estimated to account for US$ 124.3 Bn in terms of value in 2020 and is expected to reach US$ 214.1 Bn by the end of 2027.
Global Drug-Device Combination Products Market: Drivers
Increasing prevalence of chronic disorders is expected to propel growth of the global drug-device combination products market over the forecast period. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.
Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
North America held dominant position in the global drug-device combination products market in 2019, accounting for 41.4% share in terms of value, followed by Europe and Asia Pacific, respectively
Figure 1. Global Drug-Device Combination Products Market Share (%), by Value, by Region, 2019
Global Drug-Device Combination Products Market: Restraints
Drug-device combination products increase the risk of infections, which is expected to hinder growth of the market. Although stent infection is rare, it is associated with high morbidity and mortality. Drug eluting stents (DES) are associated with higher infection risk than bare metal stent (BMS), owing to their antiproliferative effects.
Moreover, presence of stringent and non-specific regulatory pathway for approval of Drug-device combination products is also expected to limit the market growth. There are separate regulatory approval pathways for pharmaceutical products and medical devices in the U.S. Investigational new drug (IND) application process is suited for pharmaceutical products, whereas medical devices fall under the investigational device exemption (IDE) pathway.
Drug-Device Combination Products Market Report Coverage
| Report Coverage |
Details |
| Base Year: |
2019 |
Market Size in 2019: |
US$ 115.0 Bn |
| Historical Data for: |
2016 to 2019 |
Forecast Period: |
2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: |
8.1% |
2027 Value Projection: |
US$ 214.1 Bn |
| Geographies covered (27): |
- North America: U.S., Canada
- Latin America: Brazil, Argentina, Mexico, Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
- Middle East: GCC Countries, Israel, Rest of Middle East
- Africa: South Africa, North Africa, Central Africa
|
| Segments covered: |
- By Product Type: Drug Eluting Stents, Infusion pumps, Photosensitizers, Orthopedic combination products (Bone graft imlants + antibiotic loaded bone cements), Wound care combination products, Inhalers, Transdermal patches, Others( Intraocular implants, drug eluting beads)
|
| Companies covered (8): |
Teva Pharmaceutical Industries Ltd., Becton, Dickinson and Company, Integer Holdings Corporation, Abbott Laboratories, Medtronic plc, Allergan, Inc., Alcon, Inc., Arrow International, Inc., Bausch & Lomb, Inc., Boston Scientific Corporation, ALK, SINOMED, Kaléo, Haselmeier, Flowonix Medical, Inc., CareFusion Corporation, and Covidien PLC
|
| Growth Drivers: |
- Increasing prevalence of chronic diseases
- New product approvals
|
| Restraints & Challenges: |
|
Global Drug-Device Combination Products Market: Opportunities
Adoption of cloud-based data management software in combination products is expected to offer lucrative growth opportunities for players in the global drug-device combination products market. For instance, in January 2020, Medtronic plc launched Efficio, a cloud-based data management software for use with the SynchroMed II intrathecal drug delivery system, for effective management of targeted drug delivery pump.
Moreover, launch of generic combination products is also expected to aid in growth of the market. For instance, August 2019, Teva Pharmaceutical Industries Ltd. launched generic version of Mylan’s EpiPen for young children.
The global drug-device combination products market was valued at US$ 115.0 Bn in 2019 and is forecast to reach a value of US$ 214.1 Bn by 2027 at a CAGR of 8.1% between 2020 and 2027.
Figure 2. Global Drug-Device Combination Products Market Value (US$ Bn), and Y-o-Y Growth (%), 2019-2027
Market Trends/Key Takeaways
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in October 2019, Becton, Dickinson and Company launched the BD Intevia 1mL two-step disposable auto-injector.
The market is witnessing higher preference for nasal sprays over auto injectors. For instance, in October 2019, Bryn Pharma, LLC reported that patients prefer bi-dose epinephrine nasal spray over Epipen auto injector. The company presented the related data at the American Academy of Pediatrics (AAP) National Conference & Exhibition.
Global Drug-Device Combination Products Market: Competitive Landscape
Major players operating in the global drug-device combination products market include, Teva Pharmaceutical Industries Ltd., Becton, Dickinson and Company, Integer Holdings Corporation, Abbott Laboratories, Medtronic plc, Allergan, Inc., Alcon, Inc., Arrow International, Inc., Bausch & Lomb, Inc., Boston Scientific Corporation, ALK, SINOMED, Kaléo, Haselmeier, Flowonix Medical, Inc., CareFusion Corporation, and Covidien PLC.
Global Drug-Device Combination Products Market: Key Developments
Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in February 2020, Flowonix Medical, Inc. received the U.S. Food and Drug Administration approval for its Prometra II Programmable Pump System for use with intrathecal baclofen. Prometra II Pump utilizes a pressure-driven, valve-gated delivery mechanism to deliver boluses of medication into the intrathecal space.
Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in October 2019, Haselmeier, a manufacturer of self-injection devices, partnered with Stevanato Group, a producer of glass primary packaging based in Italy, for development, manufacturing, and supply of the axis-D pen-injector in the therapeutic area of diabetes care.
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