Drug Device Combination market Size Worth $165.4 Billion By 2025 | CAGR: 9.8%
107 Pages | Published Date : 25 / 09 / 17 | Report Code: AV111 | Report Format: PDF
The global Drug device combination market is expected to grow at growth rate of 9.8% to reach USD 165.4 billion by 2025.
Drug device combination products are defined as the combination of diagnostics and therapeutic agents to provide safe and effective treatment options to patients. In terms of different products, drug device combination market is categorized as Orthopedic products,Inhalers, Photodynamic therapy devices, Infusion pumps, Transdermal patches, Drug eluting stents, Antimicrobial catheters and Others.
The purpose of most of these combinational devices is to either boost the efficiency of devices or to provide product safety through better drug delivery. Among these different devices, transdermal patches and inhaler segment accounted for USD 61.28 billion in 2016 and is expected to dominate the total market collectively. Infusion pumps segment is further divided into Volumetric, Disposable, Syringe, Ambulatory and others.
Regionally, North America, and Europe dominated the global market. Rising research and development activities in this area stimulated the market growth in these regions. In 2016, North America recorded USD 38.23 billion and is expected to grow with 6.8% growth rate during the forecast period. Rising demand for drug combinational devices coupled with research and development initiatives will help the region to grow further at constant rate.
In Asia Pacific region, countries such as China and India shows their great potential to capture large share of the global market. TEH SENG Pharmaceutical Mfg. Co., Ltd., ProStrakan Group, Zhejiang Bangli Medical Products Co., Ltd., Zhejiang Yinda Biotechnology Co., Ltd., and Stemedica are some of the leading supplier and manufacturer of drug device combinations in China.
Key companies such as Abbott, Stryker, Medtronic, Teleflex Incorporated, and Allergan, Inc. are profiled in report Companies are constantly engaged in rigorous research and development activities to expand their presence in this market. For which, companies are come up with novel and technological advanced drug devices to capture large customer base.
For instance, in November 2016, Abbott Laboratories received USFDA approval for ABSORB, bioresorbable stent for commercialization in Japan and in Canada (in July 2016). Such approvals will help companies to expand their presence in different geographies hence support the market growth.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
- Orthopedic products
- Photodynamic therapy devices
- Infusion pump
- Transdermal patches
- Drug eluting stents
- Antimicrobial catheters
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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