Emphasis on Product (Drug-Eluting Stents, Infusion Pumps, Photosensitizers, Prefilled Syringes, Wound Care 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.
Considerations for Combination Product development using one of more currently marketed components
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, Inhaler 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, Drug-eluting balloon, Inhalers, Transdermal delivery systems, and Others. Inhaler segment dominated the market in 2020. Growing number of individuals with respiratory disorder is expected to drive the market during the analysed period.
“Amongst Application, Respiratory Problem segment dominated the market in 2020”
Based on application, the market is bifurcated cardiovascular disease, diabetes, respiratory problem, cancer treatment, antimicrobial applications, and Others. The respiratory problem segment accounted for the major revenue portion in 2020, owing to the increasing awareness about new drug-device combination products.
“Amongst Distribution Channel, Hospital Pharmacies segment accounted for ~54% share in 2020”
Based on the distribution channel, the market is bifurcated into hospital pharmacies, retail pharmacies, and online pharmacies. The Hospital Pharmacies segment accounted for the major revenue portion in 2020. As most of the diseases are cured or treated at hospitals, hence the segment is expected to maintain its dominance throughout the forecast period.
“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. The segment generated revenue of US$ 61,603.2 million in 2020.
“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, Rest of North America), Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. North America constitutes a major market for the drug-device combination products industry and generated revenue of US$ 39,729.6 million in 2020. Asia-Pacific is expected to witness CAGR growth of 6.86% during the analysed period.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Top Start-ups Under Drug-device Combination Products Market
6. Global Drug-device Combination Products Amid Covid-19
7. Global Drug-device Combination Products Market Revenue (usd Mn), 2019-2027f
8. Market Insights By Product
9. Market Insights By Application
10. Market Insights By Distribution Channel
11. Market Insights By End User
12. Market Insights By Region
13. Drug-device Combination Products Market Dynamics
14. Drug-device Combination Products Market Opportunities
15. Drug-device Combination Products Market Trends
16. Legal & Regulatory Framework
17. Demand And Supply Side Analysis
18. Value Chain Analysis
19. Competitive Scenario
20. Company Profiled
21. Disclaimer
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:
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
Market Engineering
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:
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