Dublin, May 25, 2022-((Business wire)- “Market size of combination products of drug devices, market share and trend analysis report by product (transdermal patch, inhaler, infusion pump, drug elution stent, antibacterial catheter), and segment forecast, 2022-2030” Report added ResearchAndMarkets.com Recruitment.
The global pharmaceutical device combination product market is expected to reach US $ 251.9 billion by 2030. This is expected to grow at a CAGR of 8.8% from 2022 to 2030.
The growing demand for minimally invasive technologies due to the associated improved patient outcomes is an influential driver in this market. These devices facilitate early diagnosis and shorter treatment times in most surgeries.
The increased demand is also the result of the minimal pain, cost efficiency, safety, effectiveness, rapid recovery, and shorter hospital stays brought about by these devices.
The increasing presence of regulatory medical authorities implementing well-defined protocols for pre-market approval is expected to help manufacturers obtain approval for their products.
Recently, the US FDA has adopted a lean management process mapping approach to build a more cohesive, streamlined, systematic and collaborative system for the product reviews mentioned above. Safety guidelines and recommendations issued by these authorities are estimated to increase adoption of these products in the future and boost overall growth during the forecast period.
Treatment-related serious side effects and drug interactions resulting from drug absorption by unintended sites in the body are expected to induce the need for targeted therapy, thereby driving the demand for drug-device combinations.
For example, consistent administration of levodopa has long-term complications such as motor variability, dyskinesias, severe metabolic changes, and neurotoxic effects. These aforementioned factors drive clinical urgency for incorporating alternative therapies based on targeted therapies, as in the case of drug and device combination products.
Highlights of Pharmaceutical Equipment Combination Product Market Report
By product, transdermal patches maintained their dominant share in 2021 due to increasing demand for self-administration of drugs in diseases requiring long-term treatment.
The inhaler product segment is expected to show a favorable CAGR of 10.3% over the predicted period due to the increased prevalence of chronic diseases.
North America held the largest revenue share of over 40.0% in 2021 due to extensive new product development activities carried out by prominent players throughout the region.
Asia Pacific is expected to grow at a favorable rate over the next few years due to higher medical costs and increased levels of physician awareness of the benefits of these products.
Key market players are working on a variety of strategies, including new product launches and distribution contracts, to gain market penetration. For example, in February 2016, Medtronic announced the New Resolute Onyx drug-eluting stents, which are commercially available in various sizes in Europe, thereby strengthening the company’s current product offering.
High operating costs, strict regulatory frameworks, and capital requirements keep barriers to entry at higher levels, so the threat to new entrants is expected to be low.
Main topics to cover:
Chapter 1 Methodology and Scope
1.2.Survey scope and prerequisites
1.3.List of data sources
Chapter 2 Executive Summary
Chapter 3 Market Snapshot
Chapter 4 Market Variables, Trends, Scope
4.1.Market fragmentation and scope
4.2.Market driver analysis
4.2.1.Increasing demand for minimally invasive drug delivery devices
4.2.3.Increasing popularity of point-of-care treatments
4.2.4.Consistent intervention by government medical institutions
4.2.5.Raising awareness level
4.2.6.Improvement of medical reimbursement framework
4.3.Market constraint analysis
4.3.1.High associated costs
4.3.2.Technical challenges in drug delivery
4.4.Penetration and growth outlook mapping
4.5. Drug Device Combinations-Factorally SWOT Analysis (Political and Legal, Economic and Technical)
4.6.Industry Analysis-The Five Powers of Porter
Chapter 5 Product Quotation and Trend Analysis
5.1.Pharmaceutical device combination market: analysis of product movement
5.2.1. Infusion Pump Market Estimates and Forecasts, 2018-2030 (USD Billion)
5.2.6.Can be embedded
5.3.Orthopedic combination products
5.3.1. Orthopedic Combination Product Market Estimates and Forecasts, 2018-2030 (US $ 1 Billion)
5.3.2.Bone graft implant
5.3.3.Antibiotic bone cement
5.4.Photodynamic therapy device
5.6.1. Drug-eluting stent market estimates and forecasts, 2018-2030 (US $ 1 billion)
188.8.131.52. Coronary Stent Market Estimates and Forecasts, 2018-2030 (US $ 1 Billion)
184.108.40.206. Peripheral Vascular Stent Market Estimates and Forecasts, 2018-2030 (US $ 1 Billion)
5.7.Wound care products
5.8.1. Inhaler Market Estimates and Forecasts, 2018-2030 (US $ 1 Billion)
5.9.1. Antibacterial Catheter Market Estimates and Forecasts, 2018-2030 (USD Billion)
Chapter 6 Regional Estimates and Trend Analysis by Product, Application, Test
6.1.Market share of regional drug device combinations, 2021
Chapter 7 Competitive Landscape
St. Jude Medical Co., Ltd.
Boston Scientific Corporation
CR Bard, Inc.
WLCore & Associates, Inc.
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