World Drug-Device Combination Products Market - Opportunities and Forecasts, 2017 - 2023

  • ID: 3773114
  • Report
  • Region: Global
  • Allied Analytics LLP
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According to the U.S. Food and Drug Administration (FDA), a combination product is defined as, “Two or more separate products packaged together in a single package or as a unit and comprised of drug and device products, device and biological products, or biological and drug products”. The growing prevalence of chronic diseases among elderly population, creates an inevitable need for effective therapeutic solutions. In light of such need, pharmaceutical and medical device industries now offer “Combination products”. Growing number of elderly population, increasing healthcare expenditures along with the increasing popularity of point of care treatments, are some of the vital factors that promote the growth of the global drug-device combination products market. Additionally, active interventions from the NGO and government organizations, along with the increasing demand for minimally invasive surgeries, would eventually propel the market growth during the forecast period. However, high cost of drugs, rising incidences of chronic disease, adverse side effects associated with products and growing technical challenges to deliver drugs would act as a major restraint to the market. Biological therapies and gene therapies are potential target areas for the global drug-device combination products market. The market is supported by newly developed sciences such as nanotechnology, information technology, polymer science, proteomics and genomics.

The global drug-device combination products market is segmented into product types, application and geography. Based on product types, the market is categorized as Drug Eluting Stents, Photosensitizers, Orthopaedic products, Infusion Pumps, Wound Care Products, Inhalers, Transdermal Patches and others. However, the application segment is categorized as Cardiovascular, Non-Cardiovascular, Urological, Bone Treatment, Antimicrobial Treatment, Cancer Treatment, Ophthalmic Treatment and Diabetes Treatment. Geographically, the report is segments across four regions namely, North America, Europe, Asia Pacific, and LAMEA. Presently, North America occupies a majority of the market share followed by Europe and the Asia Pacific region. Collaboration, product launch and acquisition are some of the strategies adopted by key players in the drug-device combination products market. In 2013, Abbott laboratories introduced its Next-Generation ‘Xience Xpedition Drug Eluting Stent’ in Canada. This stent provides efficient drug delivery across crucial coronary anatomies. Companies profiled in this report include Abbott Laboratories Inc., Boston Scientific Corporation, Cook Medical, Medtronic Plc, Smith & Nephew Plc, St. Jude Medical Inc., Stryker Corporation, Zimmer Holdings Inc., Ethicon, Inc. and C.R. Bard, Inc.

KEY MARKET BENEFITS:

Inclusive intellects of factors driving the growth of the global drug-device combination products market is provided in the report. For instance, growing elderly population and increasing healthcare expenditures would drive the global drug-device combination products market
Competitive intelligence (of leading manufacturers and distributors of combination products) helps in understanding the competitive scenario across geographies
SWOT analysis enables to study the internal environment of the leading companies for strategy formulation
An in-depth analysis of current research and clinical developments within the global drug-device combination products market is provided with key market dynamic factors that helps understand the market behaviour
The report provides an in-depth analysis of global drug-device combination products market, through various decision making tools such as, Porter’s five forces model, value chain analysis
The report provides a quantitative analysis of the current market and estimations through 2014-2020 that help in identifying the prevailing market opportunities

KEY MARKET SEGMENTS:

Global drug-device combination products market is mainly segme



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