According to the U.S. Food and Drug Administration (FDA), a combination product is defined as, Two or more separate products packaged together in a single package or as a unit and comprised of drug and device products, device and biological products, or biological and drug products. The growing prevalence of chronic diseases among elderly population, creates an inevitable need for effective therapeutic solutions. In light of such need, pharmaceutical and medical device industries now offer Combination products. Growing number of elderly population, increasing healthcare expenditures along with the increasing popularity of point of care treatments, are some of the vital factors that promote the growth of the global drug-device combination products market. Additionally, active interventions from the NGO and government organizations, along with the increasing demand for minimally invasive surgeries, would eventually propel the market growth during the forecast period. However, high cost of drugs, rising incidences of chronic disease, adverse side effects associated with products and growing technical challenges to deliver drugs would act as a major restraint to the market. Biological therapies and gene therapies are potential target areas for the global drug-device combination products market. The market is supported by newly developed sciences such as nanotechnology, information technology, polymer science, proteomics and genomics.
The global drug-device combination products market is segmented into product types, application and geography. Based on product types, the market is categorized as Drug Eluting Stents, Photosensitizers, Orthopaedic products, Infusion Pumps, Wound Care Products, Inhalers, Transdermal Patches and others. However, the application segment is categorized as Cardiovascular, Non-Cardiovascular, Urological, Bone Treatment, Antimicrobial Treatment, Cancer Treatment, Ophthalmic Treatment and Diabetes Treatment. Geographically, the report is segments across four regions namely, North America, Europe, Asia Pacific, and LAMEA. Presently, North America occupies a majority of the market share followed by Europe and the Asia Pacific region. Collaboration, product launch and acquisition are some of the strategies adopted by key players in the drug-device combination products market. In 2013, Abbott laboratories introduced its Next-Generation ‘Xience Xpedition Drug Eluting Stent’ in Canada. This stent provides efficient drug delivery across crucial coronary anatomies. Companies profiled in this report include Abbott Laboratories Inc., Boston Scientific Corporation, Cook Medical, Medtronic Plc, Smith & Nephew Plc, St. Jude Medical Inc., Stryker Corporation, Zimmer Holdings Inc., Ethicon, Inc. and C.R. Bard, Inc.
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Global drug-device combination products market is mainly segmented below:
Global drug-device combination products Market – By Product Type
Global Drug-device combination products market - By Application
Global Drug-device combination products market - By Geography