Smart Wearables Is Fastest Growing Segment Fueling The Growth Of Drug Device Combination Products Market

https://www.coherentmarketinsights.com/market-insight/drug-device-combination-products-market-3919
Drug Device Combination Products Market



Market Overview:

Drug device combination products combine drugs and devices to provide therapeutic benefits. They help in better drug delivery and maintenance of stable drug levels in the body. Advantages include controlled drug release, targeted drug delivery, and automated dosing which enhances patient compliance and therapy effectiveness.

Market key trends:
Growing demand for home healthcare and advancement in drug delivery technologies are fueling the growth of the market. With the increase in chronic diseases and geriatric population coupled with high healthcare costs, there is an increasing demand for self-administered drug delivery devices. Furthermore, innovation in drug delivery devices is helping increase efficiency and effectiveness of drugs while reducing side effects. Smart wearables and 3D printing technologies are contributing substantially to development of novel drug device combination products with enhanced capabilities.

The global Drug Device Combination Products Market Trends is estimated to be valued at US$ 150.23 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis
Content: The global drug device combination products market can be segmented based on product, application, end user and region. Based on product, the market is segmented into drug-eluting stents, prefilled syringes, drug eluting balloons, infusion pumps and inhalers. Among these, the drug-eluting stents segment dominates the market due to increasing prevalence of cardiovascular diseases and rising adoption of minimally invasive procedures.

Key Takeaways

Market size: The global drug device combination products market is expected to witness high growth, exhibiting CAGR of 7.6% over the forecast period, due to increasing prevalence of chronic diseases and growing geriatric population.

Regional analysis: North America currently dominates the market due to widespread awareness regarding advanced treatment options and well-established healthcare infrastructure in the region. However, Asia Pacific is expected to grow at the fastest pace during the forecast period owing to increasing healthcare spending and rapidly developing economy.

Key players: Key players operating in the drug device combination products market are AbbVie Inc., Terumo Corporation, GlaxoSmithKline PLC, Novartis AG, Medtronic PLC, Abbott Laboratories, Boston Scientific Corp., W L Gore and Associates Inc., Stryker Corporation, and Becton, Dickinson and Company. These players are focusing on new product launches and mergers & acquisitions to strengthen their market position.


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