According to the latest report by IMARC Group, titled “Drug Device Combination Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global drug device combination products market reached a value of US$ 132.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 214.53 Billion by 2027, exhibiting at a CAGR of 8.27% during 2022-2027.
Drug device combination products include medical devices and pharmaceutical ingredients that help deliver the drug to a preferred location in the patient’s body. They comprise drug-eluting stents, infusion pumps, inhalers, transdermal delivery systems, and prefilled syringes. They have minimal side effects and offer advantages like controlled drug administration and improved patient compliance.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The growing prevalence of chronic diseases, such as asthma, cancer, diabetes, and cardiovascular disorders, represents one of the key factors driving the market. Moreover, rising preferences for smart and precision drug delivery systems, which minimize the amount of drug required for therapeutic efficacy, are driving the demand for drug device combination products across the globe. Besides this, several market players are introducing advanced technologies for tracking and monitoring different products. They are also expending on extensive research and development (R&D) activities to develop next-generation products with high viscosity and formulations. Furthermore, the growing popularity of minimally invasive surgery (MIS) and portable devices like nebulizers and inhalers are other growth-inducing factors positively influencing the market.
Breakup by Product:
- Drug Eluting Stents
- Transdermal Patches
- Infusion Pumps
- Drug Eluting Balloon
- Inhalers
- Others
Breakup by Application:
- Cardiovascular
- Diabetes
- Cancer Treatment
- Respiratory Diseases
- Others
Breakup by End User:
- Hospitals
- Ambulatory Surgical Centers
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Abbott Laboratories
- Baxter International Inc.
- Bayer AG
- Becton Dickinson and Company
- Boston Scientific Corporation
- GlaxoSmithKline plc
- Johnson & Johnson
- Medtronic plc
- Novartis AG
- Smith & Nephew plc
- Stryker Corporation
- Terumo Corporation
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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