Global Drug–Device Combination Market is expected to grow at 7.5% CAGR in the forecast period of 2018-2025 to an estimated value of USD 188.2 billion by the end of the year 2025, from its initial base value of USD 105.4 billion in the base year of 2017.
The drug–device combination report explains market analysis based on regional, local as well as global level. It analyses the key factors which leads to market growth as well as restraints of the market growth. With this drug–device combination report, businesses can think about the scene of how the market is going to act upon in the forecast years by gaining details on market definition, classifications, applications, and engagements. This industry analysis report speaks about the manufacturing process, type and applications. The report performs market share assessments for the regional and country-level segments.
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Some of the major players operating in global drug-device combination market includes Abbott Laboratories, Medtronic, Smith & Nephew plc, Boston Scientific Corporation, GlaxoSmithKline plc, Becton Dickinson and Company, Johnson & Johnson, Novartis AG, Bayer AG, Baxter International Inc., Allergan, Bausch & Lomb Incorporated, Stryker, 3M, W.L. Gore & Associates, Inc., Biomet Inc., C.R. Bard Inc., Terumo Corporation, Pinnacle Biologics Inc., Mylan N.V., Medline Industries Inc.,
Key Developments in the Market:
- Propeller Health, received US FDA’s clearance, in November 2016 to market its Propeller platform in combination with GlaxoSmithKline’s Ellipta inhaler. Collaboration between Propeller and GlaxoSmithKline in December 2015 produced the sensor for Ellipta which was researched and developed by both the companies’.
- US FDA established the Combination Products Policy Council (CPPC) in 2016, helping to modernize the review process and improve the communication between agency centers. The council formed also helps in resolving the disagreements amongst the parties, related to any approval or clearances and sponsorship/activities.
Competitive Analysis:
The global drug–device combination market has major players who have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of drug- device combination market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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Market Drivers and Restraints:
- Growth in the demand of higher efficiency products
- Better results ratio and efficient diagnosis
- Major growth opportunities in US because of their favourable healthcare reforms
- Pre-planning and strategizing in the manufacturing of these products
- Developing economic regions of Asia-Pacific zone hindering the overall CAGR
Market Segmentation: Global Drug – Device Combination Market
- The Global Drug–device Combination Products Market is segmented based on a number of segments namely Product, Application, End-Users and Geography.
- Based on Product, it is segmented into Infusion Pumps, Orthopedic Combination Products, Photodynamic Therapy Devices, Transdermal Patches, Drug Eluting Stents, Wound Care Products, Inhalers, and Antimicrobial Catheters. Out of these Infusion Pumps is further segmented Volumetric, Disposables, Syringes, Ambulatory, Implantables, and Insulin. Orthopedic Combination Products is also further segmented into Bone Graft Implants and Antibiotic Bone Cement. Drug Eluting Stents is also further categorized into Coronary Stents and Peripheral Vascular Stents. Inhalers are further segmented into Dry Powder, Nebulizers and Metered Dose, with Nebulizers being categorized into Ultrasonic, Compressor and Mesh.
- Based on Application, it is categorized into cardiovascular diseases, Diabetes, and Respiratory diseases. Out of these, respiratory segment is accounted for the largest growth in the year 2018.
- Based on End-User, it is segmented into hospitals & clinics, emergency service centers ambulatory surgical centers and home care settings. Out of these, hospitals & clinics segment is accounted for the largest growth in the year 2018.
- Based on Geography, North America (US, Canada) led the way holding a major share of the market followed by Europe (U.K., Germany, Italy, Spain, France, Netherlands, Switzerland, Russia). Though, in the coming years Asia-Pacific (Japan, China, India, Australia, Singapore, South Korea) region is expected to grow leaps and bounds in the forecast period of 2018 to 2025. The report also includes the regional segmentation of South America (Mexico, Brazil) and Middle East & Africa (South Africa, Turkey, Gulf Cooperation Countries).
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