Drug Device Combination Market Research Report – Global Forecast till 2030

Drug Device Combination Market Size, Growth and Trends Analysis by Product (catheter, antimicrobial applications, advanced wound care products), Application (coronary angioplasty, tachycardia management), End user (hospitals & clinics) – Global Forecast till 2030

ID: MRFR/MED/5481-HCR | November 2022 | Region: Global | 90 Pages         

Drug Device Combination Market

Drug Device Combination market is expected to reach USD 251.90 Billion by 2030 at 7.2% CAGR

Segmentation

By Product Catheter Antimicrobial Applications Advanced Wound Care Products
By Application Coronary Angioplasty Tachycardia Management
By End user Hospitals Clinics

Key Players

  • 3M
  • Abbott Laboratories
  • AlloSource
  • Biomet Orthopedics Inc
  • Biometrix Medical
  • Biotronik
  • Boston Scientific Corporation
  • C.R. BARD Inc
  • Cook Critical Care Inc
  • Covidien Ltd

Drivers

  • Growing healthcare expenditure and rising awareness for the disease
  • Increasing R&D expenses by the key players
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Drug-Device Combination Market Overview


Drug Device Combination market is expected to reach USD 251.90 Billion by 2030 at 7.2% CAGR during the forecast period 2022-2030. Medical devices that comprise a device and active pharmaceutical components that are physically or chemically combined as a single entity are known as drug-device combination products. Products with more than two regulated components, such as medication and devices, are considered in the Drug-Device Combination Market. Such gadgets are widely used to treat ailments such as cardiovascular disease. The global burden of diseases such as cardiovascular disease, urological disease, and others has increased in recent years. This created ideal conditions for the market to thrive and expand. Furthermore, it is worth noting that the number of reported cases of urological disorders has increased in recent years. There were 47,151 new instances of prostate cancer in the region, according to Cancer Research UK. This is expected to drive up demand for drug devices for associated therapies, allowing the drug-device combination market to expand.
 
The rise in the incidence of chronic diseases such as diabetes, cancer, and respiratory problems, as well as an increase in casualties due to accidents and trauma, a rise in the geriatric population, growth in the home-based healthcare market, and technological advancements such as the development of prefilled syringes, are driving the growth of the Global Drug-device Combination Market. However, problems such as undiscovered drug-device combo product complications, the amount of product recalls, and tight government regulations stifle industry growth. Conversely, the market is likely to benefit from increased healthcare infrastructure and significant market potential in underdeveloped emerging economies.

Drug Device Combination Market Segmentation:


The drug device combination market is segmented based on product, application, end user and region.

Based on product, the market is segmented into catheter, advanced wound care products, and others. The catheter segment is sub-segmented into antimicrobial catheter, urological catheters, cardiovascular catheters, oximetry catheters, thermodilution catheters, wound drainage catheter, and others. The advanced wound care products segment is sub-divided into antibiotic wound care, bone graft substitutes, antibiotic bone cements, drug eluting stents, photodynamic therapy. The bone graft substitutes segment is sub-segmented into ceramic based bone graft substitute, allograft-based bone graft substitutes, cell-based bone graft substitutes, and others.

On the basis of application, the market is devised into coronary angioplasty, tachycardia management, non-cardiovascular treatments, peripheral arterial disease (pad), bone treatment, antimicrobial applications, wound care, ophthalmic treatment, and others.

By end user, the drug device combination market is divided into hospitals & clinics, ambulatory centres, and academic & research organization, and others. In the current scope of the study, the above-mentioned segments are covered into the four global regions, namely- the Americas, Europe, Asia-Pacific and the Middle East & African region.


Regional Market Summary


The Americas dominated the drug device combination market owing to rising prevalence of cardiovascular diseases and presence of major market players within the region. Additionally, suitable reimbursement policies, high healthcare expenditure, and developed healthcare sector in the U.S. and Canada boost the market to grow. In 2017, it was estimated that Europe stood second in the global drug device combination owing to the to the presence of a well-developed healthcare infrastructure, increasing awareness for the devices within the region and presence of developed economies within the region. Additionally, a large patient pool boosts the drug device combination market.


Asia Pacific was projected to be the fastest growing region in 2021. This can be attributed due to the increasing penetration of the market players within the region, growing healthcare sector and increasing government support for foreign investments. 


On the other hand, the Middle East and Africa held least share in the Global Drug Device Combination Market due to the presence of poor economies and low per capita income, especially within the African region. The Middle Eastern region is estimated to be a major market for the Middle East and African region. This can be attributed due to increasing government funding in the healthcare followed by the presence of developed economies like United Arab Emirates, Saudi Arabia, Dubai, and others within the regional boundaries of the region. 


Drug Device Combination Market Key players: 


Some of the key players in the drug device combination market are 3M, Abbott Laboratories, AlloSource, Biomet Orthopedics, Inc., Biometrix Medical, Biotronik, Boston Scientific Corporation, C.R. BARD, Inc., Cook Critical Care, Inc., Covidien Ltd, Smith & Nephew Plc, St. Jude Medical Inc, Stryker Corporation, Wright Medical Group, Inc., Zimmer Holding, Inc., and others.


Research Methodology: 


Market Research Future research is conducted by industry experts who offer insights into industry structure, market segmentation, assessment, Competitive Landscape (CL), penetration, as well as on emerging trends. Besides primary interviews (~ 80%) and secondary research (~ 20%), their analysis is based on their years of professional expertise in respective industries. Our analysts also predict where the market will be headed in the next five to ten years, by analysing historical trends and current drug device combination market positions. Furthermore, the varying trends of segments and categories geographically presented are studied and are estimated based on the primary and secondary research.



  •         Primary Research


Extensive primary research was conducted to gain a deeper insight of the market and the industry performance. In this particular report we have conducted primary surveys (interviews) with key level executives (VPs, CEOs, Marketing Directors, Business Development Managers, and many more) of major players who are active in the market. In addition to analyzing the current and historical trends, our analysts predict where the market is headed, over the next five to ten years.



  •         Secondary Research


Secondary research was mainly used to collect and identify information useful for extensive, technical, market-oriented, and commercial study of the drug device combination. It was also used to obtain key information about major players, market classification, and segmentation according to industry trends, geographical markets, and developments related to the market and perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, SEC filings, journals, white papers, corporate presentations, company web sites, international organization of chemical manufacturers, some paid databases, and many others.


Drug Device Combination Market, by Product:



  •  Catheter


    • Antimicrobial catheter

    • Urological catheters

    • Cardiovascular catheters

    • Oximetry catheters

    • Thermodilution catheters

    • Wound drainage catheter

    • Others




  • Advanced Wound Care Products


    • Antibiotic wound care

    • Bone Graft Substitutes


      •    Ceramic based bone graft substitute

      •    Allograft based bone graft substitutes

      •   Cell based bone graft substitutes

      •   Others


    • Antibiotic Bone Cements

    • Drug Eluting Stents

    • Photodynamic Therapy

    • Others



Global Drug Device Combination Market, by Application:



  • Coronary angioplasty

  • Tachycardia management

  • Non-Cardiovascular Treatments

  • Peripheral arterial disease (PAD)

  • Bone Treatment

  • Antimicrobial Applications

  • Wound Care

  • Ophthalmic Treatment

  • Others


Global Drug Device Combination Market, by End User



  • Hospitals & Clinics

  • Ambulatory Centres

  • Academic & Research Organization


Recent Development


The Abre venous self-expanding stent system was approved by the US Food and Drug Administration (FDA) in October 2020. In patients with symptomatic iliofemoral venous outflow blockage, this device is suggested for use in the iliofemoral veins.
 
Abbott got CE Mark approval for the new FlexNav delivery system for their Portico transcatheter aortic valve implantation (TAVI) device in March 2020.

Intended Audience:


  • Pharmaceutical companies

  • Government and private laboratories

  • Research and Development (R&D) companies

  • Medical research laboratories

  • Market research and consulting service providers



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Frequently Asked Questions (FAQ) :

Drug Device Combination Market has a growth opportunity with an USD 251.90 Billion by 2030 at 7.2% CAGR.

Drug Device Combination Market has players like AlloSource, 3M, Abbott Laboratories, Biometrix Medical, Biotronik, C.R. BARD, Boston Scientific Corporation, Biomet Orthopedics, Inc., Inc., Covidien Ltd, Cook Critical Care, Inc., St. Jude Medical Inc, Smith & Nephew Plc, Zimmer Holding, Inc., Stryker Corporation, Wright Medical Group, Inc., and others.

Asia Pacific regional Drug Device Combination Market would be the fastest-growing among all the regions.

Americas would dominate the global Drug Device Combination Market.

Drug Device Combination Market would be triggered by end users like academic & research organizations, ambulatory centers, hospitals & clinics, and others.