Drug Device Combination Products Industry Overview
The global drug device combination products market size was estimated at USD 138.47 billion in 2023 and is projected to grow at a CAGR of 9.0% from 2024 to 2030. Technological advancements, increasing demand for minimally invasive drug delivery devices, increasing prevalence of chronic diseases such as diabetes, and the rising geriatric population are the major factors anticipated to propel market growth over the forecast period.
According to the International Diabetes Federation (IDF), an estimated 537 million adults in the age group 20-79 were affected with diabetes in 2021, and this number is expected to grow to 783 million by 2045. The International Diabetes Federation (IDF) further stated that an estimated 90% of people with diabetes are at an elevated risk of developing type 2 diabetes.
Gather more insights about the market drivers, restrains and growth of the Drug Device Combination Market
The industry is witnessing tremendous innovation and expansion because of the possibility of using combination medical products to effectively treat patients with different diseases. Technological advancements and innovations in the ability of combination medicines to release a drug over an extended period to a precise place is key factors contributing to the market's rapid expansion. For instance, the digital medicine system, ABILIFY MYCITE (aripiprazole), is a drug-device combination product developed by Otsuka Holdings Co., Ltd. in partnership with Proteus Digital Health, Inc. for the treatment of certain mental/mood disorders. It can serve as a tool to measure and identify the non-adherence of patients to drugs.
A key driver of drug device combination products is the increasing demand for minimally invasive pain-free drug delivery options. Patients are looking for more comfortable and convenient ways to receive their medications, and drug device combination products offer a promising solution. For instance, drugs are mostly administered in patients suffering from neurological disorders with the help of injections when needed, which can lead to pain and an increased risk of adverse effects. Thus, to reduce pain and other risks, the adoption of transdermal drug delivery systems, such as transdermal patches, has significantly increased in recent years. For instance, in April 2023, Teikoku Seiyaku and Kowa launched ALLYDONE Patches 55 mg and 27.5 mg for the treatment of patients with dementia due to Alzheimer’s disease. This transdermal patch suppresses the growth of dementia symptoms.
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Drug Device Combination Products Market Segmentation
Grand View Research has segmented the global drug device combination products market based on product and region:
Drug Device Combination Product Outlook (Revenue, USD Billion, 2018 - 2030)
- Infusion Pumps
- Volumetric
- Disposables
- Syringes
- Ambulatory
- Implantable
- Insulin
- Orthopedic Combination Products
- Bone Graft Implants
- Antibiotic Bone Cement
- Photodynamic Therapy Devices
- Transdermal Patches
- Drug Eluting Stents
- Coronary Stents
- Peripheral Vascular Stents
- Wound Care Products
- Inhalers
- Dry Powder
- Nebulizers
- Metered Dose
- Antimicrobial Catheters
- Urological
- Cardiovascular
- Others
- Others
Drug Device Combination Products Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- S.
- Canada
- Europe
- Germany
- UK
- France
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
Key Companies profiled:
- Abbott
- Terumo Medical Corporation
- Stryker
- Viatris Inc.
- Medtronic
- Boston Scientific Corporation
- Novartis AG
- Becton, Dickinson and Company.
- Teleflex Incorporated
- L. Gore Associates, Inc. Sensely, Inc.
Key Drug Device Combination Products Company Insights
Some of the key companies operating in the market include Abbott; Terumo Medical Corporation; Stryker; Viatris Inc.
- Abbott is a global healthcare company specializing in developing, manufacturing, and commercializing healthcare products. The company offers products such as XIENCE Drug-eluting Stents (DES), XIENCE Skypoint Stent, XIENCE Sierra Stent in the global market
- Terumo Medical Corporation offers products such as Infusion Pump (Full press), Infusion Pump (Smart-Midpress) Medisafe with Detachable Insulin Patch Pump for the global market
Recent Developments
- In October 2023, Medtronicreceived FDA approval for the SynchroMed III intrathecal drug delivery system, intended to manage chronic pain, cancer pain, and severe spasticity
- In July 2023, Becton, Dickinson, and Company announced receiving FDA 510(k) Clearance for an updated version of the BD Alaris Infusion System. This clearance encompasses updated hardware features for the Point-of-Care Unit (PCU), syringe pumps, auto identification modules, Patient controlled Analgesia (PCA) pumps, large volume pumps, and respiratory monitoring
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