Dublin, June 18, 2024 (GLOBE NEWSWIRE) -- The "Global Drug Device Combination Products Market Size, Share & Trends Analysis Report by Product (Transdermal Patches, Infusion Pumps, Inhalers, Drug Eluting Stents), Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global drug device combination products market is expected to reach USD 251.87 billion by 2030, registering a CAGR of 9.0% from 2024 to 2030. Rising demand for minimally invasive techniques due to enhanced patient outcomes associated with it is the high impact-rendering driver of this market. These devices facilitate early diagnosis and reduce treatment duration in a majority of surgical procedures. Growing demand is also a consequence of minimal pain, heightened cost efficiency, improved safety, better efficacy, rapid recovery, and reduced hospital stay rendered by these devices.
Increasing presence of regulatory healthcare authorities enforcing clearly defined protocols for premarket authorizations is anticipated to support manufacturers in gaining approvals for their products. Recently, the U.S. FDA incorporated the lean management process mapping approach to build a more cohesive, streamlined, systematic, and collaborative system for the review of the aforementioned products. Safety guidelines and recommendations issued by these authorities are presumed to increase the adoption of these products in future and boost overall growth during the forecast period.
Severe side effects and drug interactions associated with therapeutics owing to drug absorption by unintended sites in the body are anticipated to induce need for targeted therapy, thereby propelling demand for drug-device combinations. For instance, consistent administration of Levodopa results in long-term complications such as motor fluctuations, dyskinesias, severe metabolic changes, and neurotoxic effects. These aforementioned factors drive the clinical urgency to incorporate alternatives based on targeted therapy, as in case of drug-device combination products.
Drug Device Combination Products Market Report Highlights
- Transdermal patch held the dominant share by product in 2023 owing to increasing demand for self-administration of drugs in diseases requiring long-term treatment
- North America held the largest share of over 41.31% in 2023 in terms of region owing to extensive new product development activities conducted by prominent players across this region
- Asia Pacific is anticipated to grow at a lucrative rate over the coming years owing to increasing healthcare spending and rising awareness levels of physicians pertaining to benefits of these products
- Key market players are engaged in various strategies such as new product launch and distribution agreements to gain market penetration
- High operational cost, stringent regulatory framework, and capital requirement keep entry barriers at a higher level, owing to which, threat of new entrants is expected to be low
Key Attributes
| Report Attribute | Details |
| No. of Pages | 150 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $138.47 Billion |
| Forecasted Market Value (USD) by 2030 | $251.87 Billion |
| Compound Annual Growth Rate | 9% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
1.1. Market Segmentation
1.2. Market Definition
1.3. Research Methodology
1.4. Information Procurement
1.5. Information or Data Analysis
1.6. Market Formulation & Validation
1.7. Model Details
1.8. List of Secondary Sources
1.9. List of Abbreviations
1.10. Objectives
Chapter 2. Executive Summary
2.1. Market Snapshot (Regional)
2.2. Segment Snapshot (Product)
2.3. Competitive Landscape
Chapter 3. Drug Device Combination Products Market Variables, and Trends
3.1. Market Lineage Outlook
3.2. Market Dynamics
3.2.1. Market Driver Impact Analysis
3.2.1.1. Increasing Demand for Minimally Invasive Drug Delivery Devices
3.2.1.2. Technological Advancements
3.2.1.3. Increasing Prevalence of Chronic Diseases
3.2.2. Market Restraint Impact Analysis
3.2.2.1. High Cost Associated with Drug Device Combination Products
3.2.2.2. Technical Challenges in Drug Delivery
3.2.2.3. Increasing Prevalence of Chronic Diseases
3.2.3. Market Opportunity Impact Analysis
3.2.3.1. Growing Adherence Rate
3.3. Industry Analysis Tools
Chapter 4. Drug Device Combination Product Market: Product Analysis
4.1. Product Movement Analysis & Market Share, 2023
4.2. Drug Device Combination Products Market: Estimates & Forecast, by Product (USD Billion)
4.2.1. Infusion Pumps
4.2.2. Orthopedic Combination Products
4.2.3. Photodynamics Therapy Devices
4.2.4. Transdermal Patches
4.2.5. Drug Eluting Stents
4.2.6. Wound Care Products
4.2.7. Inhalers
4.2.8. Antimicrobial Catheters
4.2.9. Others
Chapter 5. Drug Device Combination Products Market: Regional Estimates & Trend Analysis
5.1. Drug Device Combination Products Market: Regional Outlook
5.2. North America
5.3. Europe
5.4. Asia-Pacific
5.5. Latin America
5.6. Middle East & Africa
Chapter 6. Competitive Analysis
6.1. Company Categorization
6.2. Participant Overview
6.3. Financial Performance
6.4. Product Benchmarking
6.5. Company Market: Position Analysis
6.6. Strategy Mapping
6.7. Company Profiles
- Abbott
- Terumo Medical Corporation
- Stryker
- Viatris Inc.
- Medtronic
- Boston Scientific Corporation
- Novartis AG
- Becton, Dickinson and Company
- Teleflex Incorporation
Chapter 7. Analysis Perspective
For more information about this report visit https://www.researchandmarkets.com/r/3jl13o
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