According to the latest report by IMARC Group, titled “Drug Device Combination Products Market: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the drug device combination products market share. The global drug device combination products market reached a value of US$ 132.45 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 214.53 Billion by 2027, exhibiting at a CAGR of 8.27% during 2022-2027.
Drug device combination products comprise vaccine vials, surgical trays, and prefilled drug delivery systems like syringes and insulin injector pens. They are therapeutic and diagnostic devices that provide safe and effective treatment, precise drug targeting, local administration, and individualized therapy. They aid in treating patients with critical disorders and conditions, such as cancer, heart disease, multiple sclerosis, and diabetes.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The increasing number of individuals with chronic medical conditions represents one of the major factors positively influencing the demand for drug device combination products around the world. It can also be attributed to the rising aging population, which is more prone to severe medical ailments, and significant improvement in the healthcare infrastructure and medical services. In addition, the growing adoption of health insurance policies that provide financial assistance for various medical treatments to minimize healthcare expenses is driving the market. Besides this, key players are introducing drug-eluting stents, infusion pumps, photosensitizers, orthopedic combination products, transdermal patches, and inhalers, which is expected to impel the market growth.
Breakup by Product:
Drug Eluting Stents
Transdermal Patches
Infusion Pumps
Drug Eluting Balloon
Inhalers
Others
Breakup by Application:
Cardiovascular
Diabetes
Cancer Treatment
Respiratory Diseases
Others
Breakup by End User:
Hospitals
Ambulatory Surgical Centers
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Abbott Laboratories
Baxter International Inc.
Bayer AG
Becton Dickinson and Company
Boston Scientific Corporation
GlaxoSmithKline plc
Johnson & Johnson
Medtronic plc
Novartis AG
Smith & Nephew plc
Stryker Corporation
Terumo Corporation
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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