Drug-device combination products combine drugs and medical devices to provide optimal therapeutic treatments. For instance, drug eluting stents prevent restenosis after angioplasty by releasing drugs locally. Similarly, implantable drug infusion pumps help in delivering pain relieving drugs directly into the body over an extended period. These combination products provide several advantages over traditional therapy methods like increased efficacy, improved safety, precise dosing and convenience.

The global Drug Device Combination Products Market is estimated to be valued at US$ 173 billion in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increased adoption of implantable drug delivery systems is one of the key trends driving the growth of the drug device combination products market. Implantable drug delivery systems help in improving patient compliance and delivering accurate doses of drugs directly at the target site through intravenous or subcutaneous routes. These systems provide several advantages like precision in dosing, minimal systematic side effects and reduce frequency of drug administration. With technological advancements, a wide variety of active implantable drug delivery devices are being developed that can function for extended periods without replacement. This has increased preference for such systems among patients and healthcare providers. Growing awareness about advantages offered by implantable drug delivery is propelling their demand globally.

Segment Analysis

The global Drug Device Combination Products market is segmented on the basis of Therapeutic Application, Product and Distribution Channel. On the basis of Therapeutic Application, the market is segmented into Cardiovascular Diseases, Diabetes, Respiratory Diseases and Others. The Diabetes segment dominates the market owing to increasing prevalence of diabetes globally and the need for efficient drug delivery of insulin.

Key Takeaways

The Global Drug Device Combination Products Market Size is expected to witness high growth during the forecast period of 2024 to 2031. The global Drug Device Combination Products Market is estimated to be valued at US$ 173 billion in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2024 to 2031.

Regional analysis shows that North America currently dominates the market due to presence of key players and favorable reimbursement policies for combination products in the region. Europe is the second largest market followed by Asia Pacific. The Asia Pacific region is expected to witness fastest growth due to rising healthcare expenditure and growing geriatric population.

Key players operating in the Drug Device Combination Products market are Medtronic, Boston Scientific, Abbott, C. R. Bard, Cook Medical, Teleflex Incorporated, Smiths Medical, Terumo Corporation, Stryker Corporation, Becton, Dickinson and Company, Zimmer Biomet Holdings, Inc., Intuitive Surgical, St. Jude Medical Inc.

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