Drug Device Combination Products Market Segmentation and Future ScopePosted by Ryan Shaw on July 3rd, 2019 The global Drug Device Combination Product Market size is expected to reach USD 177.7 billion by 2024, according to a new report by Grand View Research, Inc., clocking in a 7.9% CAGR during the forecast period. 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 reduced 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. To request a sample copy or view summary of this report, click the link below: Further key findings from the study suggest:
Grand View Research has segmented the global drug device combination product market on the basis of product type and region: Drug Device Combination Product Outlook (Revenue, USD Billion, 2013 - 2024)
Drug Device Combination Regional Outlook (Revenue, USD Billion, 2013 - 2024)
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