“Rise in geriatric population, surge in incidence of chronic diseases, and growth of the home-healthcare industry have supplemented the growth of the market. Based on geography, North America contributed largest revenues share accounting for more than one-third of the total market share in 2017.”
The global drug-device combination products market garnered $81.3 billion in 2017 and is estimated to reach $139.2 billion by 2025, growing at a CAGR of 6.9% from 2018 to 2025.
Surge in geriatric population, rise in incidence of chronic diseases, and growth of the home-healthcare industry have supplemented the growth of the market. However, stringent approval process and product recall issue impede the market growth up to certain extent. Moreover, technological advancements and lucrative opportunities in emerging economies would bring multiple opportunities in the market.
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Transdermal delivery system accounted for more than one-third share of the total market revenue in 2017, due to its ability to deliver drugs in continuous and controlled manner. The segment would maintain its dominance throughout the study period. On the other hand, the prefilled syringe segment would register the fastest CAGR of 9.9% from 2018 to 2025, due to minimization of the drug waste and its capability to extend shelf life of products.
The respiratory problems segment accounted for more than one-third of the total market share in 2017, due to surge in prevalence of chronic obstructive pulmonary disease (COPD) & asthma and rise in adoption of inhalers. However, antimicrobial applications are expected to register the highest CAGR of 10.6% from 2018 to 2025, due to increase in incidence of acute and chronic wounds and changing dynamics over the usage of traditional wound dressings.
The ambulatory surgical centers would register the fastest growing CAGR of 8.0% from 2018 to 2025, due to the growing demand for such facilities in developing countries. However, the hospitals & clinics segment accounted more than one-third of the total market share in 2017, due to presence of all drug-device combination products and availability of variety of treatments.
North America contributed largest revenues share accounting for more than one-third of the total market share in 2017, due to new product launches and rise in adoption of plasma-based products. However, Asia-Pacific region is expected to grow at the fastest CAGR of 8.0% during the forecast period.
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Leading market players-
The report analyzes key market players including Smith & Nephew plc, GlaxoSmithKline plc, Abbott Laboratories, Becton, Dickinson and Company, Bayer AG, Johnson & Johnson, Boston Scientific Corporation, Baxter International, Inc., and Medtronic plc.
Scope Of The Report:
|Market size available for years||2017-2025|
|Base year considered||2018|
|Forecast units||Value (USD)|
|Segments covered||Product, Application and End User|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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