Major players in the drug device combination market are The 3M Company, Abbott Laboratories, Biotronik, Boston Scientific Corporation, C.R. Bard Inc., Medtronic PLC., Amgen Inc., Ypsomed, Micron Biomedical Inc., MetP Pharma AG, Sonceboz, Propeller Health B.D., Lepu Medical Technology, Eitan Medical Ltd., Vaxess Technologies Inc., and Subcuject Aps.
The global drug-device combination market is expected to grow from $108.43 billion in 2022 to $121.17 billion in 2023 at a compound annual growth rate (CAGR) of 11.75%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The drug-device combination market is expected to grow to $179.10 billion in 2027 at a CAGR of 10.26%.
The drug-device combination market consists of sales of catheter and advanced wound care products.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Drug-device combination refers to therapeutic and diagnostic products that associate a medical device with a drug for local administration of the drug, precise drug targeting, and individualized therapy.These are physically and chemically combined to produce a single entity and packaged together in a single package.
The drug-device combination is used in clinical development to deliver drugs to the desired location in the body.
North America was the largest region in the drug-device combination market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of drug-device combination products are auto-injector, microneedle patch, digital pill, smart inhaler, drug delivery hydrogels, drug-eluting lens, other products.The various applications are orthopedic diseases, respiratory diseases, diabetes, oncology, cardiovascular diseases, and other applications.
The various end users are clinics, hospitals, home care settings, ambulatory care centers, and other end users. The drug-device combination products are distributed through direct tender, retails sales, and other distribution channels.
The increasing prevalence of chronic diseases is anticipated to drive the drug-device combination market.Chronic disease refers to a type of disease that persists for a year or longer, impedes everyday activities, necessitate continuing medical care, or both.
Chronic disease includes heart disease, diabetes, and so on.Drug device combinations are therapeutic and diagnostic products that lead to effective treatment of people suffering from chronic diseases.
For instance, according to a report by the World Health Organization, a specialized body of the United Nations to ensure international public health, in 2022, diabetes affected more than 420 million individuals globally.By 2030 and 2045, these numbers are expected to increase to 578 million and 700 million, respectively.
Hence, the increasing prevalence of chronic diseases is driving the growth of the drug-device combination market.
Technological advancement is a key trend in the drug-device combination market.New technologies are being introduced by major corporations in the market that works on self-adjusting plunger stopper detection technology to sustain their position in the market.
For instance, in September 2021, Owen Mumford, a UK-based medical device manufacturing company, launched the Aidaptus auto-injector platform. Aidaptus is a two-stage, spring-powered, single-use auto-injector with a base unit that can hold both prefilled glass syringes measuring 1.25 ml and 2.25 ml. It is a hypodermic syringe that one can use to administer medication. It features self-adjusting plunger stopper sensing technology that automatically adjusts to the various stopper positions and fills levels in each syringe without needing additional parts.
In July 2021, BD, a US-based medical device company, acquired Zebrasci for an undisclosed amount.This acquisition will enable BD to expand its contract development service capabilities, including testing and validation of combination products to strengthen its position in the market.
Zebrasci is a US-based biotechnology company that helps develop combination products.
The countries covered in the drug device combination market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The drug-device combination market research report is one of a series of new reports that provides drug-device combination market statistics, including drug-device combination industry global market size, regional shares, competitors with an drug-device combination market share, detailed drug-device combination market segments, market trends and opportunities, and any further data you may need to thrive in the drug-device combination industry. This drug-device combination market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.