Global Drug Device Combination market growth 2024, Forecast To 2033
4 Mar, 2024
The drug device combination market has seen rapid growth, escalating from$120.37 billion in 2023 to$134.41 billion in 2024, with a compound annual growth rate (CAGR) of 11.7%. Historical growth drivers include medical innovation, the rise in chronic diseases, patient-centric approaches, advances in biologics, and clinical needs. Foreseen rapid growth in the next few years will push the market to$205.86 billion by 2028, driven by patient empowerment, healthcare digitalization, global market expansion, emergence of novel therapies, and value-based healthcare. Major trends in the forecast period include therapeutic advancements, complex disease management, patient-centric care, technological innovations, and regulatory support.
Global Drug Device Combination Market Key Driver
The increasing prevalence of chronic diseases is anticipated to drive the drug-device combination market. Chronic disease refers to a type of disease that persists for a year or longer, impedes everyday activities, necessitates continuing medical care, or both. Chronic disease includes heart disease, diabetes, and so on. Drug device combinations are therapeutic and diagnostic products that lead to effective treatment of people suffering from chronic diseases. For instance, according to a report by the World Health Organization, a specialized body of the United Nations to ensure international public health, in 2022, diabetes affected more than 420 million individuals globally. By 2030 and 2045, these numbers are expected to increase to 578 million and 700 million, respectively. Hence, the increasing prevalence of chronic diseases is driving the growth of the drug-device combination market. The 2023, 2024, and 2028 market sizes for the drug-device combination market align with the rising incidence of chronic diseases globally, with sustained growth anticipated as healthcare systems seek more effective treatment modalities and innovations in medical technology continue to advance.
Get A Free Sample Of The Global Drug Device Combination Market ReportGlobal Drug Device Combination Market Segments
The global drug device combination market covered in this report is segmented –
1) By Product: Auto-Injector, Microneedle Patch, Digital Pill, Smart Inhaler, Drug Delivery Hydrogels, Drug-Eluting Lens, Other Products
2) By Distribution Channel: Direct Tender, Retails Sales, Other Distribution Channels
3) By Application: Orthopedic Diseases, Respiratory Diseases, Diabetes, Oncology, Cardiovascular Diseases, Other Applications
4) By End User: Clinics, Hospitals, Home Care Settings, Ambulatory Care Centers, Other End Users
By Geography: The regions covered in the drug device combination market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the drug-device combination market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drug device combination market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Drug Device Combination Industry Players
The 3M Company, Abbott India Ltd., Biotronik SE & Co. KG, Boston Scientific Corporation, C. R. Bard Inc., Medtronic PLC, Amgen Inc., Ypsomed Holding AG, Micron Biomedical Inc., MetP Pharma AG, Sonceboz SA, Propeller Health B.D. Inc., Lepu Medical Technology (Beijing) Co. Ltd., Eitan Medical Ltd., Vaxess Technologies Inc., Subcuject Aps, Allergan PLC, Terumo Corporation, Stryker Corporation, Becton Dickinson and Company, Novartis AG, Zimmer Biomet Holdings Inc., MediPrint Ophthalmics, Arrow International Inc., Alcon Inc., W. L. Gore & Associates Inc., Cook Medical LLC, Pinnacle Biologics Inc., GlaxoSmithKline PLC, Mylan N.V.
Get The Full Global Drug Device Combination Market ReportDrug Device Combination Market Overview
Drug-device combination refers to therapeutic and diagnostic products that associate a medical device with a drug for local administration of the drug, precise drug targeting, and individualized therapy. These are physically and chemically combined to produce a single entity and packaged together in a single package. The drug-device combination is used in clinical development to deliver drugs to the desired location in the body.
Drug Device Combination Global Market Report 2023 provides data on the global drug device combination market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The drug device combination market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.