Transparency Market Research has announced the publication of a comprehensive research report on the global drug device combination products market. The report, titled “Drug Device Combination Products Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” allows readers to gain valuable insight into the overall market. According to the research report, the global drug device combination products market was valued at US$66 bn in 2012 and is expected to be worth US$115 bn by 2019. Between 2013 and 2019, the market is expected to expand at a 7.9% CAGR.
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Drug device combination products are a combination of medical devices and active pharmaceutical ingredients that are chemically or physically mixed to achieve one solution. This combination is then surface coated and injected to regularly administer drugs to the patient. The advancements seen in the drug device combination products market have made a remarkable contribution to the field of medical sector and are hence expected to have a huge impact on the overall healthcare sector in the coming years.
The positive trend in the global drug device combination products market is likely to be driven by the growing adoption of minimally invasive surgeries, a growing number of interventional cardiologists, and supportive government and NGO initiatives encouraging drug delivery implants. The only restraint in the global market is the chance of product recalls due the negative effects of certain devices on patients. However, the introduction of technologies that reduce the morbidity rate, offer pain relief solutions, and improve healing time are expected to offer greater growth opportunities to this market in the near future.
The global drug device combination products market is segmented on the basis of the type of products and geography. The types of products in this market are drug eluting stents, photosensitizers, infusion pumps, orthopedic combination products, inhalers, wound care combination products, transdermal patches, and other drug device combination products. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Geographically, North America held a significant share in the global drug device combination products market in 2013. Analysts predict that Asia Pacific will surpass this share in the forecast period due to growing cases of obesity, diabetes, and cardiovascular diseases.
The top players operating in the global drug device combination products market are W. L. Gore & Associates, Inc., Stryker Corporation, Terumo Corporation, Mylan, Inc., Medtronic, Inc., Pinnacle Biologics, Inc., Ethicon, Inc., Medline Industries, Inc., C.R. Bard, Inc., CareFusion Corporation, and Covidien PLC. The research report has profiled these players and provided a complete analysis of the competitive landscape of the global drug device combination products market. Furthermore, the document also points out the research and development strategies, financial overview, investment outlook, business and marketing strategies, and feasibility reports of new projects proposed by these companies for the near future.