Implants with drugs, help in pain relief and quicker healing represent benefits derived from the use of drug device combination products. Globally, this market is anticipated to grow substantially through 2019 due to factors such as government and NGO initiatives for encouraging drug delivery implants, increasing demand for minimally invasive surgeries, and a rising number of interventional cardiologists.
A new downloadable market research report published by Transparency Market Research, “Drug Device Combination Products Market—Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” presents an in-depth analysis of the global drug device combination products market. It’s based on various parameters such as market overview, market drivers, restraints, challenges and opportunities, product segmentation, and vendor analysis.
The research study notes that in 2012, the global drug device combination products market was worth US$66 Billion and is anticipated to reach US$115 Billion by the end of 2019, exhibiting a 7.9% Compound Annual Growth Rate between 2013 and 2019.
On the negative side, says the report, recalls of products due to their severe side effects is one of the major factors that is projected to hamper the growth of this market in the next few years.
TMR’s report says the global market for drug device combination products is divided into transdermal patches, drug eluting stents, inhalers, orthopedic combination products, infusion pumps, photosensitizers, wound care combination products, and other products.
Geographically, the global market for drug device combination products market is segmented in this report into North America, Europe, Asia Pacific, and Rest of the World. In terms of revenue, the global drug device combination products market is led by North America, although Asia Pacific is expected to witness high growth due to the growing prevalence of diabetes, cardiovascular diseases, and obesity, making it the most lucrative market in the coming years, according to TMR.