Drug Device Combination Products Market Size, Share & Trends Report

Drug Device Combination Products Market Size, Share & Trends Analysis Report By Product (Transdermal Patches, Infusion Pumps, Inhalers, Drug Eluting Stents, Antimicrobial Catheters), And Segment Forecasts, 2018 - 2024

  • Published Date: May, 2018
  • Base Year for Estimate: 2015
  • Report ID: GVR-1-68038-260-0
  • Format: Electronic (PDF)
  • Historical Data: 2013 - 2015
  • Number of Pages: 106

Industry Insights

The global drug device combination product market size was valued at USD 96.3 billion in 2016 and is expected to exhibit a CAGR of 7.9% during the forecast period. The market is primarily driven by growing patient and physician preference for minimally invasive procedures and consistent-dosing treatment alternatives.

U.S. drug-device combination market

Subsequent increase in adoption of these products can be credited to associated benefits such as reduced pain levels, better patient outcome, reduced hospitals stay, and overall healthcare cost efficiency. Other advantages include synergistic effects facilitating multi-target treatment, improved tolerance levels, simplification of dosage regime, and improved symptomatic and pharmacokinetic profiles. These benefits are expected to propel demand for these systems and present the market with numerous growth opportunities.

In addition, frequent intervention by government health organizations to ensure high patient safety is predominantly driving the market. To address the challenges associated with drug-device combination products as well as facilitate proper and consistent regulation, the U.S. FDA has established the Office of Combination Products (OCP).

Moreover, unprecedented growth in the development of clinical drugs and devices by large pharmaceutical companies is believed to meet the demand for advanced medication delivery technologies. This has resulted in extensive product pipelines and maximized commercial returns on already established products, thereby serving as a significant driving factor for the industry.

Product Insights

Transdermal patches held the largest share by product in 2015. This can be attributed to increasing demand for self-administration of drugs in cases of diseases requiring long-term treatment. For instance, in diabetes, insulin is needed to be frequently administered intravenously into the patient’s body. This repeated use of injections to deliver insulin causes pain and increases risk of infection transmission, thus leading to heightened growth prospects for alternative drug delivery modes.

Advantages associated with adoption of transdermal patches include better patient compliance and reduced risk of needlestick injuries and infections, which further accelerates demand for these patches. Moreover, rising patient preference for pain-free drug delivery has led to a significant surge in adoption of adhesive skin patches to administer drugs. This is expected to present the market with tremendous growth potential over the forecast period.

The inhalers segment is anticipated to exhibit a lucrative growth rate over the forecast period owing to rising prevalence of chronic diseases such as tuberculosis, diabetes mellitus, and chronic obstructive pulmonary disease, which require more rigorous treatment. Technological advancements such as particle engineering, agglomerated vesicle technology, incorporation of MDI technology, and supercritical fluid technology are expected to boost segment growth.

Regional Insights

North America held the dominant share in the global drug device combination product market, accounting for over 42.0% in 2015. This can be attributed to extensive new product development activities conducted by prominent players across this region. Rising chronic disease burden in this region is believed to be one of the key potential growth factors responsible for high clinical urgency to incorporate these products. This is believed to contribute to North America’s sizeable share.

Global drug-device combination product market

Asia Pacific is anticipated to grow at a lucrative rate over the forecast period. The sizable growth is attributable to increasing healthcare spending. Rising physician awareness levels pertaining to benefits of these products, including low dosage requirement, timed release of medication, direct mitigation of device-centered infection using anti-infective medication in combination, and reduced systemic exposure, also contribute to regional growth. The market is driven by high R&D investments by global market players as well as increasing commercialization of these systems developed by key players.

Moreover, urgent need for development of new systems and replacement and upgrading of medical infrastructure is anticipated to present the APAC market with lucrative growth opportunities over the forecast period. Stringent regulatory policies issued by healthcare organizations to ensure high safety standards is further expected to widen the scope for growth across this region.

Drug Device Combination Product Market Share Insights

Some of the major players are Abbott; Terumo Corporation; Stryker Corporation; Mylan N.V.; Medtronic; Allergan plc; Boston Scientific Corporation; Novartis AG; C.R. Bard; Teleflex Incorporated; and W. L. Gore & Associates, Inc. These players are engaged in extensive expansion strategies, new product development activities, and mergers and acquisitions, which have significantly contributed to their growth. High operational cost, stringent regulatory framework, and capital requirement keep entry barriers at a higher level, owing to which, the threat of new entrants is expected to be low.

In August 2016, Medtronic announced the U.S. launch of MiniMed 630G System, an insulin pump. The product launch was carried out to provide diabetes mellitus treatment to patients aged 16 and above and to facilitate personalized diabetes management.

Earlier in February 2016, the company introduced the New Resolute Onyx drug eluting stent, commercially available in different sizes in Europe. This strategic initiative has supported Medtronic in expanding its geographical presence and in developing treatment options for patients suffering from coronary artery disease.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2013 - 2015

Forecast period

2016 - 2024

Market representation

Revenue in USD Million & CAGR from 2013 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Report coverage        

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, U.K., Germany, China, Japan, India, Mexico, Brazil, South Africa

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2016 to 2024. For the purpose of this study, Grand View Research has segmented the global drug device combination product market report on the basis of product and region:

  • Product Outlook (Revenue, USD Billion, 2013 - 2024)

    • Infusion Pumps

      • Volumetric

      • Disposables

      • Syringes

      • Ambulatory

      • Implantables

      • Insulin

    • Orthopedic Combination Products

      • Bone Graft Implants

      • Antibiotic Bone Cement

    • Photodynamic Therapy Devices

    • Transdermal Patches

    • Drug Eluting Stents

      • Coronary stents

      • Peripheral vascular stents

    • Wound Care Products

    • Inhalers

      • Dry powder

      • Nebulizers

      • Metered dose

    • Antimicrobial Catheters

      • Urological

      • Cardiovascular

      • Others

    • Others

  • Regional Outlook (Revenue, USD Billion, 2013 - 2024)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • Japan

      • China

      • India

    • Latin America

      • Mexico

      • Brazil

    • MEA

      • South Africa

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