Identifying drug/device market drivers

Technavio report forecasts chronic disease prevalence and demand for drug delivery devices will result in an 11% CAGR for drug/device combination products through 2019.

Technavio report forecasts chronic disease prevalence and demand for drug delivery devices will result in an 11% CAGR for drug/device combination products through 2019.
Technavio report forecasts chronic disease prevalence and demand for drug delivery devices will result in an 11% CAGR for drug/device combination products through 2019.

What key factors will drive the global drug/device combination products market? What market trends will have an impact on this market? What are the market opportunities and threats faced by the vendors in this market? And what trending factors will influence the market shares of the EMEA, Americas, and APAC?

These are among the topics addressed in “Global Drug Device Combination Products Market 2015-2019.”

The report comes from market research. It segments global drug/device combination products market by product (drug-eluting stents, prefilled syringes, wearable injectors, and insulin injector drug), and by geography (APAC, EMEA, and the Americas). Key companies analyzed in this market research are Abbott Laboratories, Becton, Dickinson and Co., Boston Scientific, Medtronic, and Roche Diagnostics.

Drug/device combination products, say Technavio, consist of two regulated components, an active pharmaceutical ingredient and a medical device, which are chemically of physically combined to develop a single component.

The global drug/device combination products market is expected to exhibit rapid growth during the forecast period and is positively affected by factors such as its high revenue generating capacity across the healthcare sector and its ability to optimize product life cycles. These factors augment the prospects for growth in this market during the forecast period and results in a forecasted Compound Annual Growth Rate of more than 11% by 2019.

The increase in patient population for chronic diseases is the key driver for the growth of this market. The prevalence of chronic diseases like cardiovascular disease, diabetes, and respiratory diseases is estimated to increase rapidly during the forecast period. This increase in the prevalence of chronic diseases is estimated to bolster the demand for smooth and efficient drug delivery devices, which in turn would augment the prospects for growth in this market during the forecast period.

In this market research report, Technavio analysts estimate the drug-eluting stents segment to account for more than 36% of the total market share by 2019. The rising prevalence of cardiovascular diseases and the recent rise in demand for minimally invasive surgical procedures are the two major factors that promote growth in this segment during the forecast period.

Technavio’s market research analyst has estimated the Americas to be the major revenue contributing geography during the forecast period. Factors like the rising aging population and the introduction of favorable healthcare reforms aid in promoting the prospects for growth in this region during the forecast period.

This market is estimated to offer tremendous growth opportunities to the vendors during the forecast period. Vendors that have the ability to efficiently manufacture and offer a wide variety of drug/device combination products, such as infusion pumps, insulin injections, and drug-eluting stents, are expected to gain a competitive edge over their rivals.

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