Drug Device Combination Market research report, by Product (catheter, antimicrobial applications, advanced wound care products), Application (coronary angioplasty, tachycardia management), End user (hospitals & clinics) – Global Forecast till 2023
Drug Device Combination Market Analysis
The drug device combination market is likely to expand at an 11.4% CAGR between 2018-2023, reveals the new Market Research Future (MRFR) report. Drug-device combination products, simply put, are medical devices that comprise active pharmaceutical ingredients and a device that are chemically or physically combined as a single entity. Some of its benefits include targeted patient compliance, improved patient compliance, controlled drug administration, and minimal side effects owing to which it has wide applications in the medical industry.
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Numerous factors are adding to the global drug device combination market. Such factors, as stated by the recent MRFR report, include growing healthcare expenditure, increasing expenses on R&D by key players, rising awareness, high market potential, especially in untapped emerging economies, and an increase in healthcare infrastructure. Additional factors adding market growth include various technological advances like prefilled syringes, growing home-based healthcare market, increase in geriatric population, increase in casualties due to trauma and accidents, and rising prevalence of cancer, diabetes, and respiratory problems.
On the contrary, stringent government regulations, several product recalls, side effects, low-income countries, rising technological challenges, and unnoticed complications are factors that may limit the drug device combination market growth over the forecast period.
Drug Device Combination Market Segmentation
The MRFR report provides an inclusive segmental analysis of the drug device combination market based on end user, application, and product.
By product, the drug device combination market is segmented into advanced wound care products, catheters, and others. The catheter segment is again segmented into wound drainage catheter, thermodilution catheters, oximetry catheters, cardiovascular catheters, urological catheters, antimicrobial catheters, and others. Advanced wound care products are segmented into photodynamic therapy, antibiotic bone cements, drug eluting stents, bone graft substitutes, and antibiotic wound care. Bone graft substitutes are again segmented into cell-based bone graft substitutes, allograft-based bone graft substitutes, ceramic-based bone graft substitutes, and others.
By application, the drug device combination market is segmented into ophthalmic treatment, wound care, antimicrobial applications, bone treatment, peripheral arterial disease (pad), non-cardiovascular treatments, tachycardia management, coronary angioplasty, and others.
By end user, the drug device combination market is segmented into academic and research organizations, ambulatory centres, hospitals & clinics, and others.
Drug Device Combination Market Regional Analysis
By region, the global drug device combination market covers the growth opportunities and recent trends across Europe, the Americas, the Middle East & Africa (MEA), and the Asia Pacific (APAC). Of these, the Americas will spearhead the market over the forecast period. Factors adding to the drug device combination market growth in the region include the developed healthcare sector in Canada & the US, high healthcare expenditure, suitable reimbursement policies, presence of top market players in the region, and increasing incidence of cardiovascular diseases.
The global drug device combination market in Europe is predicted to have the second-largest share over the forecast period. Factors adding to the drug device combination market growth in the region include a huge patient pool, the presence of developed economies, rising awareness about drug devices, and the presence of well-established healthcare infrastructure.
The global drug device combination market in the APAC region is predicted to grow at a quick pace over the forecast period for rising support for foreign investments by the government, growing healthcare sector, and rising penetration of industry players in the region.
The global drug device combination market in the MEA will have a small share over the forecast period for the low per capita income and the presence of poor economies in the African region. The Middle East is predicted to have a major share in the market for the presence of developed economies like Dubai, Saudi Arabia, and the UAE and increasing funding in healthcare by the government.
Drug Device Combination Market Key Players
Notable players profiled in the global drug device combination market report include Zimmer Holding, Inc., Stryker Corporation, Wright Medical Group, Inc., St. Jude Medical Inc, Cook Critical Care, Smith & Nephew Plc, Boston Scientific Corporation, Covidien Ltd, Cook Critical Care, Inc., C.R. BARD, Inc., Biotronik, Biometrix Medical, Biomet Orthopedics, Inc., AlloSource, Abbott Laboratories, and 3M.
Drug Device Combination Industry News
March 2020: Access Vascular has received clearance from the FDA for HydroPICC catheter. It will be preferred over the traditional catheters for its reduced cost, decreased risk, ease of use, & ability to be placed by non-physicians.
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.4 Macroeconomic Indicators
4.5 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
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