Drug-Device Combination Products Market: Current Analysis and Forecast (2021-2027)
$3500 – $4900
Emphasis on Product (Drug-Eluting Stents, Infusion Pumps, Photosensitizers, Prefilled Syringes, Wound Care Combination Products, Orthopedic Combination Products, Drug-Eluting Balloon, Inhalers, Transdermal Delivery Systems, Others); Application (Cardiovascular Disease, Diabetes, Respiratory Problem, Cancer Treatment, Antimicrobial Applications, Others); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies); End-User (Hospitals & Clinics, Ambulatory Surgical Centers, Home Care Settings, Others) and Region & Country.
Drug-device combination products introduced a new dynamic on medical product development, regulatory approval, and commercial collaboration that provide valuable lessons for the development of new generations of combination products. For instance, Boston Scientific in November 2019, announced the launch of two devices within the peripheral drug-eluting product portfolio during separate late-breaking clinical trial presentations at the Vascular Inter Ventional Advances (VIVA) meeting in Las Vegas. The products presented are the “Ranger Drug-Coated Balloon (DCB),” as well as the “Eluvia Drug-Eluting Vascular Stent (DES),” which exhibited the highest primary patency reported to date for the treatment of femoropopliteal disease in a U.S. pivotal trial with a DCB or DES. Also, a surge in cases of chronic diseases like cancer, heart disease, multiple sclerosis, and diabetes are adding pace to the growth of this market. According to World Health Organization (WHO), in 2020, chronic diseases cases accounts for almost three-quarters of all deaths worldwide, and that 71% of deaths was due to ischemic heart disease (IHD), 75% of deaths are due to stroke, and 70% of deaths are due to diabetes will occur in developing countries.
Moreover, the increasing investment for advanced product development along with constant research activities is also adding a pace to the growing demand for drug-device combination products. For instance, “Leviticus Cardio”, inventors of the versatile transcutaneous Coplanar Energy Transfer (CET) system, in collaboration with “Jarvik Heart”, have granted USD 950,000 funding from the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation. Furthermore, the rising technological innovation in devices is also promoting the growth of drug-device combination products globally. For instance, FDA approves “Trelegy Ellipta” as the first once-daily single inhaler triple therapy for the treatment of both asthma and COPD in the United States in September 2020,
Also, the COVID-19 pandemic has impacted all industries in different ways. The private health care sector has been obstructed majorly due to the COVID-19 pandemic. Many clinical trials have been suspended during the pandemic. To restart the clinical trials, the U.S. Food and Drug Administration (FDA) released some guidelines during the COVID-19 emergency in March 2020. These guidelines were further updated on July 02, 2020. The guidelines include general considerations to assist sponsors and researchers, which ensure the safety of testing members and compliance with good clinical practice for the duration of the COVID-19 emergency.
Per Capita Healthcare Spending (US$) in the United States by Age Group, 2019
Medtronic PLC, Abbott Laboratories, Smith & Nephew plc, Boston Scientific Corporation, GlaxoSmithKline plc, Becton Dickinson and Company, Johnson & Johnson, Novartis AG, Bayer AG, and Baxter International, Inc are some of the prominent players operating in the global drug-device combination products market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Product, Transdermal delivery system segment holds the major share”
Based on products, the market is bifurcated into Drug-eluting stents, Infusion pumps, Photosensitizers, Prefilled syringes, Wound care Combination Products, Orthopedic Combination Products, Drug-eluting balloon, Inhalers, Transdermal delivery systems, and Others. The Transdermal delivery systems segment dominated the market in 2020. As the patch provides a controlled release of medication into the patient, usually via a porous membrane or through body heat melting thin layers of medication embedded in the adhesive.
“Amongst Application, Cardiovascular disease segment is anticipated to grow at the highest CAGR during the analyzed period”
Based on application, the market is bifurcated cardiovascular disease, diabetes, respiratory problem, cancer treatment, antimicrobial applications, and Others. The cardiovascular disease segment accounted for the major revenue portion in 2020. Due to the increasing awareness about new drug-device combination products.
“Amongst Distribution Channel, Continuous flow segment holds the major share”
Based on the distribution channel, the market is bifurcated into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment accounted for the major revenue portion in 2020. As it is the most widely used distribution channel worldwide and the retail pharmacy’s revenues come from prescription drugs, over-the-counter products, vitamins, cosmetics, groceries, and other merchandise.
“Amongst End-User, Hospitals & Clinics segment holds the major share”
Based on end-user, the market is bifurcated into hospitals &clinics, ambulatory surgical centers, home care settings, and others. The hospitals & clinics segment is anticipated to observe lucrative growth. As they provide superior care to their patients and offer significant compensations.
“North America signifies one of the largest markets of Drug-Device Combination Products Market”
For a better understanding of the market dynamics of the Drug-Device Combination Products Market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the drug-device combination products industry and generated the maximum revenue in 2020 owing to the presence of major companies and advanced healthcare infrastructure along with the highest rate of chronic diseases across the world.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.2||Objective of the Study|
|1.5||Currency Used in Report|
|1.6||Scope of the Global Drug-Device Combination Products Market Study|
|2.1||Research Methodology for the Global Drug-Device Combination Products Market|
|2.1.1||Main Objective of the Global Drug-Device Combination Products Market|
|5||TOP START-UPs UNDER DRUG-DEVICE COMBINATION PRODUCTS INDUSTRY|
|7||GLOBAL DRUG-DEVICE COMBINATION PRODUCTS MARKET REVENUE|
|8.1.1||Coronary Drug-Eluting Stent|
|8.1.2||Peripheral Drug-Eluting Stent|
|8.2.1||Implantable Infusion Pump|
|8.2.2||Insulin Infusion Pump|
|8.2.3||Patient-Controlled Analgesia Pump|
|8.2.4||Ambulatory Infusion Pump|
|8.4.1||Single-Chamber Prefilled Syringe|
|8.4.2||Dual-Chamber Prefilled Syringe|
|8.4.3||Customized Prefilled Syringe|
|8.5||Wound Care Combination Products|
|8.6||Orthopaedic Combination Products|
|8.7.1||Coronary Drug-Eluting Balloon|
|8.7.2||Peripheral Drug-Eluting Balloon|
|8.8.1||Drug Powder Inhaler|
|8.8.2||Metered Dose Inhaler|
|8.8.3||Soft Mist Inhaler|
|8.9||Transdermal Delivery System|
|8.9.1||Active Delivery System|
|8.9.2||Passive Delivery System|
|11.1||Hospital & Clinic|
|11.2||Ambulatory Surgery Centre|
|11.3||Home Care Setting|
|12.1||NORTH AMERICA DRUG-DEVICE COMBINATION PRODUCTS MARKET|
|12.1.3||Rest of North America|
|12.2||EUROPE DRUG-DEVICE COMBINATION PRODUCTS MARKET|
|12.2.6||Rest of Europe|
|12.3||ASIA PACIFIC DRUG-DEVICE COMBINATION PRODUCTS MARKET|
|12.3.5||Rest of Asia Pacific|
|12.4||REST OF THE WORLD DRUG-DEVICE COMBINATION PRODUCTS MARKET|
|14||LEGAL & REGULATORY FRAMEWORK|
|15.1||Demand Side Analysis|
|15.2||Supply Side Analysis|
|15.2.1||Top Product Launches|
|15.2.2||Top Business Partnerships|
|15.2.3||Top Merger & Acquisitions|
|16||VALUE CHAIN ANALYSIS|
|17||DRUG-DEVICE COMBINATION PRODUCTS MARKET OPPORTUNITIES|
|18||DRUG-DEVICE COMBINATION PRODUCTS MARKET TRENDS & INSIGHTS|
|19.1||Porter’s Five forces analysis|
|19.1.1||Bargaining power of Supplier|
|19.1.2||Bargaining power of Buyer|
|19.1.4||Availability of Substitute|
|19.1.5||Threat of new Entrants|
|20.1.3||Key Product/Services Offerings|
|18.104.22.168||Financial Overview of Medtronic PLC|
|22.214.171.124||Business Expansion and Investments|
|126.96.36.199||Merger and Acquisition|
|20.3||Smith & Nephew plc|
|20.4||Boston Scientific Corporation|
|20.6||Becton Dickinson and Company|
|20.7||Johnson & Johnson|
|20.1||Baxter International, Inc.|
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Drug-Device Combination Products Market were the three major steps undertaken to create and analyze the adoption of drug-device combination products in different segments across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the drug-device combination products sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the drug-device combination products through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the drug-device combination products market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are product, application, flow, distribution channel, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of drug-device combination products in every region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of drug-device combination products. Further, we conducted factor analysis using dependent and independent variables such as the increasing prevalence of patients with chronic diseases and rise in the home-based healthcare market will upsurge the demand for drug-device combination products. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the drug-device combination products industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the drug-device combination products market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (USD) and the adoption rate of drug-device combination products across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the drug-device combination products market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the drug-device combination products market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, application, distribution channel, and end-user of the drug-device combination products market.
Main Objective of the Drug-Device Combination Products Market Study
The current & future market trends of drug-device combination products were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of drug-device combination products in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, application, flow, design, and end-user
- Define and analysis of the regulatory framework for the Drug-device combination products industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the drug-device combination products market for the major region
- Major regions studied in the report include North America (United States and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and Rest of the World
- Company profiles of the drug-device combination products market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry