Drug Device Combination Products Market Worth $251.9 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, April 21, 2022 /PRNewswire/ -- The global drug device combination products market size is expected to reach USD 251.9 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.8% from 2022 to 2030. The 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.

Key Insights & Findings from the report:

• By product, transdermal patches held the dominant share in 2021 owing to the increasing demand for self-administration of drugs in diseases requiring long-term treatment.
• The inhalers product segment is anticipated to exhibit a lucrative CAGR of 10.3% over the forecast period owing to the rising prevalence of chronic diseases.
• North America held the largest revenue share of over 40.0% in 2021 owing to the 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 the increasing healthcare spending and rising awareness levels of physicians pertaining to the benefits of these products.
• Key market players are engaged in various strategies such as new product launches and distribution agreements to gain market penetration. For instance, in February 2016, Medtronic introduced the New Resolute Onyx drug-eluting stent, commercially available in different sizes in Europe, thereby enhancing the company's current product offerings.
• High operational cost, stringent regulatory framework, and capital requirements keep entry barriers at a higher level, owing to which, the threat of new entrants is expected to be low.

Read 105-page market research report, "Drug Device Combination Products Market Size, Share & Trends Analysis Report By Product (Transdermal Patches, Inhalers, Infusion Pumps, Drug Eluting Stents, Antimicrobial Catheters), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Drug Device Combination Products Market Growth & Trends

The 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 building 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 the 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 the 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 the case of drug-device combination products.

Drug Device Combination Products Market Segmentation

Grand View Research has segmented the global drug device combination products market based on product and region:

Drug Device Combination Products Market - Outlook (Revenue, USD Billion, 2018 - 2030)

• Infusion Pumps
• Volumetric
• Disposables
• Syringes
• Ambulatory
• Implantable
• Insulin
• Orthopedic Combination Products
• Bone Graft Implants
• Antibiotic Bone Cement
• Photodynamic Therapy Devices
• Transdermal Patches
• Drug Eluting Stents
• Coronary Stents
• Peripheral Vascular Stents
• Wound Care Products
• Inhalers
• Dry Powder
• Nebulizers
• Metered Dose
• Antimicrobial Catheters
• Urological
• Cardiovascular
• Others
• Others

Drug Device Combination Products Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• Japan
• China
• India
• Latin America
• Mexico
• Brazil
• MEA
• South Africa

 List of Key Players in Drug Device Combination Products Market:

• Abbott
• Terumo Corporation
• Stryker Corporation
• Mylan N.V.
• Medtronic
• Allergan plc
• Boston Scientific Corporation
• Novartis AG
• C.R. Bard
• Teleflex Incorporated
• W. L. Gore & Associates, Inc.

Check out more related studies published by Grand View Research:

• Drug Discovery Outsourcing Market - The global drug discovery outsourcing market size is expected to reach USD 6.3 billion by 2030 at a CAGR of 7.4% over the forecast period, according to a new report by Grand View Research, Inc. The COVID-19 pandemic has brought pharmaceutical companies in limelight. Drug discovery is a costly and lengthy process. This has urged pharmaceutical and biotech companies to opt for outsourcing their research activities to academic and private Contract Research Organizations (CROs).
• Wearable Brain Devices Market - The global wearable brain devices market size is anticipated to reach USD 668.5 million by 2030, registering a CAGR of 12.33%, according to a new report by Grand View Research, Inc. The increasing prevalence of neurological disorders and the growing government initiatives across the globe are expected to drive the growth of the market.
• Medical Device Outsourcing Market - The global medical device outsourcing market size is expected to reach USD 292.93 billion by 2030, registering a CAGR of 12.1% during the forecast period, according to a new report by Grand View Research, Inc. The rising demand for advanced medical products and a growing trend of offshoring are fueling the growth of this market. Various initiatives by public organizations promoting testing for COVID-19 are also enhancing market growth.

Browse through Grand View Research's Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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