Drug Device Combination Market is Rising Exponentially at Double-Digit CAGR of 1

Posted by Shrikant Gadewar on July 22nd, 2019

Market Highlights:

The global drug device combination market is expected to grow at an approximate CAGR of 11.4% during forecast period, 2018–2023.

Drug-device combination is the combination of drugs and various medical devices that can be chemically/physically assembled as separate or cross labeled products.  Factors such as increasing global burden of the diseases like cardiovascular diseases, urology diseases followed by growing healthcare expenditure, rising awareness for the market products drives the market growth. However, high cost of the products and related side effects, and presence of low income countries within the developing regions restricts the market to grow during the forecast period.

The factsheet of 2017 published by the Centers for Disease Control and Prevention stated that ~30 million people, accounting for 15.0% of U.S. adults population suffer from chronic kidney diseases (CKD). However, high cost of the products and therapeutics related side effects restricts the market growth within the region.

Key Players:

·         3M

•          Abbott Laboratories
•          AlloSource
•          Biomet Orthopedics
•          Biometrix Medical
•          Biotronik
•          Boston Scientific Corporation
•          C.R. BARD
•          Cook Critical Care
•          Covidien Ltd
•          Stryker Corporation

Segmentation:

•          Based on product, the market is segmented into catheter, advanced wound care products, and others. The catheter segment is sub-segmented into antimicrobial catheter, urological catheters, cardiovascular catheters, oximetry catheters, thermodilution catheters, wound drainage catheter, and others.
•          The advanced wound care products segment is sub-divided into antibiotic wound care, bone graft substitutes, antibiotic bone cements, drug eluting stents, photodynamic therapy. The bone graft substitutes segment is sub-segmented into ceramic based bone graft substitute, allograft-based bone graft substitutes, cell-based bone graft substitutes, and others.
•          On the basis of application, the market is devised into coronary angioplasty, tachycardia management, non-cardiovascular treatments, peripheral arterial disease (pad), bone treatment, antimicrobial applications, wound care, ophthalmic treatment, and others.
•          By end user, the market is divided into hospitals & clinics, ambulatory centres, and academic & research organization, and others. In the current scope of the study, the above-mentioned segments are covered into the four global regions, namely- the Americas, Europe, Asia-Pacific and the Middle East & African region.

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Regional Analysis:

In 2017, the Americas dominated the global drug device combination market. Factors such as rising prevalence of cardiovascular diseases, suitable reimbursement policies, high healthcare expenditure, and presence of major market players within the region drives the market to grow. Following a similar course, Europe stood second in the global drug device combination in 2017. This can be attributed to the presence of a well-developed healthcare infrastructure, increasing awareness for the combination products and presence of developed economies within the region. Asia Pacific was projected to be the fastest growing region in 2017, owing to increasing penetration of the market players within the region, growing healthcare sector and increasing government support for foreign investments.

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