by The drug device combination products market consists of medicinal products that combine drug and medical devices to provide optimized patient therapy and convenience. These products integrate pharmaceutical and device technologies to provide treatment of chronic conditions. For instance, metered dose inhalers (MDIs) combine pharmaceutical formulations with propellant-driven canisters to deliver drugs for asthma and chronic obstructive pulmonary disease (COPD) treatment. Auto-injectors and pre-filled syringes integrate drug reservoirs with delivery mechanisms for treating conditions like diabetes, rheumatoid arthritis, and multiple sclerosis.
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 2024-2031, as highlighted in a new report published by Coherent Market Insights.
The rising prevalence of chronic diseases like diabetes, cardiovascular diseases, cancer and respiratory diseases has increased the demand for efficient drug delivery systems. Self-administration and portability are important factors behind the popularity of drug device combination products. Auto-injectors, inhalers and transdermal patches reduce complexity and improves patient adherence to treatment regimens compared to separate drug and device components. Technological advancements are allowing developers to miniaturize devices and integrate sensing capabilities for improved therapeutic outcomes. Combination product approvals have steadily grown due to their clinical effectiveness.
Market key trends:
Connected drug delivery devices are gaining traction in the drug device combination products market. These devices integrate pharmaceutical formulations with technology platforms like sensors, mobile apps and cloud connectivity. Data generated on dosing history, medication intake and therapy responses can be remotely monitored by physicians. This allows for remote patient management and optimizing of treatment protocols. Connectivity features in auto-injectors, inhalers and patches are helping chronically ill patients manage their conditions without frequent hospital/clinic visits. Major players are collaborating with digital health companies to develop combination products with value-added connectivity and data analytics capabilities.
Porter’s Analysis
Threat of new entrants: This market has high barriers for new entrants such as huge capital investment, existing patents, and stringent regulations.
Bargaining power of buyers: There are large pharmaceutical companies dominating which gives them negotiation power over smaller suppliers and manufacturers.
Bargaining power of suppliers: Presence of many device and drug manufacturers gives better bargaining power to buyers to choose from various options.
Threat of new substitutes: Newer generation devices and drugs that serve same medical needs pose threat of substitution.
Competitive rivalry: Being a highly regulated market, companies compete on innovation, quality, and brand value.
Key Takeaways
The Global Drug Device Combination Products Market Size is expected to witness high growth. 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 2024-2031.
Regional analysis: North America region currently dominates the market due to supportive regulations and higher healthcare spending. However, Asia Pacific region is expected to grow at fastest pace due to rising healthcare awareness, expanding medical tourism, and increasing spending in major countries like China and India.
Key players: Key players operating in the Drug Device Combination Products market are Medtronic plc, Allergan, Boston Scientific Corporation, Novartis AG, Zimmer Biomet Holdings, Messe Düsseldorf GmbH, Viatris.
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