Market Size –
The drug device combination market size has grown rapidly in recent years. It will grow from <b>$120.37 billion in 2023 to $134.41 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. </b> The growth in the historic period can be attributed to increasing medical innovation, rise in chronic diseases, patient-centric approaches, advances in biologics, challenges of monotherapy,clinical needs.
The drug device combination market size is expected to see rapid growth in the next few years. It will grow to <b>$205.86 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. </b> The growth in the forecast period can be attributed to patient empowerment and engagement, healthcare digitalization, global market expansion, emergence of novel therapies, value-based healthcare. Major trends in the forecast period include therapeutic advancements, complex disease management, patient-centric care, technological innovations, regulatory support.
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Scope Of Drug Device Combination Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Drug Device Combination Market Overview
Market Drivers –
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, necessitates 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.
Market Trends –
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.
The drug device combination market covered in this report is segmented –
1) By Product: Auto-Injector, Microneedle Patch, Digital Pill, Smart Inhaler, Drug Delivery Hydrogels, Drug-Eluting Lens, Other Products
2) By Distribution Channel: Direct Tender, Retails Sales, Other Distribution Channels
3) By Application: Orthopedic Diseases, Respiratory Diseases, Diabetes, Oncology, Cardiovascular Diseases, Other Applications
4) By End User: Clinics, Hospitals, Home Care Settings, Ambulatory Care Centers, Other End Users
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Regional Insights –
North America was the largest region in the drug-device combination market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drug device combination market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the drug device combination market report are The 3M Company, Abbott India Ltd., Biotronik SE & Co. KG, Boston Scientific Corporation, C. R. Bard Inc., Medtronic plc, Amgen Inc., Ypsomed Holding AG, Micron Biomedical Inc., MetP Pharma AG, Sonceboz SA, Propeller Health B.D. Inc., Lepu Medical Technology (Beijing) Co. Ltd., Eitan Medical Ltd., Vaxess Technologies Inc., Subcuject Aps, Allergan plc, Terumo Corporation, Stryker Corporation, Becton Dickinson and Company, Novartis AG, Zimmer Biomet Holdings Inc., MediPrint Ophthalmics, Arrow International Inc., Alcon Inc., W. L. Gore & Associates Inc., Cook Medical LLC, Pinnacle Biologics Inc., GlaxoSmithKline plc, Mylan N.V.
Table of Contents
1. Executive Summary
2. Drug Device Combination Market Report Structure
3. Drug Device Combination Market Trends And Strategies
4. Drug Device Combination Market – Macro Economic Scenario
5. Drug Device Combination Market Size And Growth
…..
27. Drug Device Combination Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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