Drug Device Combination Products Market to Grow with a CAGR of 8.74% through 2029

Growing prevalence of chronic diseases such as diabetes, respiratory diseases, and cancer are expected to drive the Global Drug Device Combination Products Market growth in the forecast period, 2025-2029.

According to TechSci Research report, “Drug Device Combination Products Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Drug Device Combination Products Market stood at USD 110.15 Billion in 2023 and is anticipated to grow with a CAGR of 8.74% through 2029. The market is primarily driven by the growing prevalence of chronic diseases such as diabetes, respiratory diseases, and cancer and the adoption of novel drug delivery systems for these diseases.

Furthermore, the anticipated expansion in the utilization of drug-device combination products and the introduction of new offerings during this timeframe are poised to enhance market progression. Notably, in November 2021, Becton, Dickinson, and Company unveiled the BD UltraSafe Plus 2.25 mL Passive Needle Guard as part of its drug-device combination product line. When integrated with a prefilled syringe, the BD UltraSafe Plus 2.25 mL system facilitates the subcutaneous administration of biologic solutions with various viscosities up to 30 cP and fill volumes of up to 2 mL.

Moreover, the burgeoning healthcare infrastructure and advancements in drug delivery technologies are anticipated to contribute to market expansion over the specified period. Nonetheless, stringent regulatory protocols, product recalls, and complications linked to certain drug-device combinations are expected to impede market growth.

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The Global Drug Device Combination Products Market is segmented into Products, Application, End User, Region and Company.

Based on the Product, the global drug device combination products can be categorized into drug eluting stents, transdermal patches, infusion pumps, drug eluting balloon, inhalers, and others. Transdermal patches segment dominated the market in 2023 and is anticipated to witness substantial market growth throughout the forecast period. The growing preference for self-administration of medications in the management of chronic diseases has contributed to this trend. Take diabetes, for example, where insulin must be regularly administered intravenously. The repetitive use of injections for insulin delivery often results in discomfort and elevates the risk of transmitting infections. Consequently, there is an increased interest in exploring alternative drug delivery methods, thereby fostering potential growth opportunities in this sector. The inhalers segment is poised to experience significant growth during the projected period, primarily due to the increasing prevalence of chronic illnesses such as tuberculosis, diabetes mellitus, and chronic obstructive pulmonary disease, necessitating more intensive treatment approaches. Technological advancements such as particle engineering, agglomerated vesicle technology, integration of MDI technology, and supercritical fluid technology are anticipated to propel the growth of this segment further.

Major companies operating in Global Drug Device Combination Products Market are:

• Abbott Laboratories, Inc.
• Medtronic plc
• Boston Scientific Corporation
• Becton, Dickinson and Company
• Novartis AG
• GlaxoSmithKline plc
• AbbVie, Inc. (Allergen, Inc.)
• W. L. Gore & Associates, Inc.
• Stryker Corporation
• Terumo Corporation

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“The Asia Pacific region is poised for substantial growth during the forecast period, driven by several factors. Increasing healthcare spending in the region is a significant contributor to this growth, indicating a greater emphasis on healthcare infrastructure and services. Additionally, rising physician awareness about the advantages of these products, such as lower dosage requirements, timed release of medication, direct infection mitigation using anti-infective medication in combination, and reduced systemic exposure, further fuels market expansion. The market is also propelled by significant R&D investments from global market players and the increasing commercialization of advanced systems by key players in the region. Furthermore, the pressing need for the development of new systems and the replacement and upgrading of medical infrastructure present lucrative growth opportunities in the Asia Pacific market. Stringent regulatory policies implemented by healthcare organizations to uphold high safety standards are expected to further bolster market growth in this region.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Drug Device Combination Products Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented by Products (Drug Eluting Stents, Transdermal Patches, Infusion Pumps, Drug Eluting Balloon, Inhalers, Others), By Application (Cardiovascular, Diabetes, Cancer Treatment, Respiratory Diseases, Others), By End User (Cardiovascular, Diabetes, Cancer Treatment, Respiratory Diseases, Others), By Region, By Competition, 2019-2029F”, has evaluated the future growth potential of Global Drug Device Combination Products Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Drug Device Combination Products Market.

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