The Drug Device Combination Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Drug Device Combination Global Market Report 2024, The drug device combination market size has grown rapidly in recent years. It will grow from $120.37 billion in 2023 to $134.41 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. 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 $205.86 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. 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..
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.
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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
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 report table of contents includes:
- Executive Summary
- Drug Device Combination Market Characteristics
- Drug Device Combination Market Trends And Strategies
- Drug Device Combination Market – Macro Economic Scenario
- Global Drug Device Combination Market Size and Growth
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- Global Drug Device Combination Market Competitive Benchmarking
- Global Drug Device Combination Market Competitive Dashboard
- Key Mergers And Acquisitions In The Drug Device Combination Market
- Drug Device Combination Market Future Outlook and Potential Analysis
- Appendix
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