Covid19 Analysis on Drug Device Combination Market 2021- Global Industry Size, Share, Key Drivers, Major Manufactures, Business Insights and Reginal Trends By Forecast to 2023
Research Reports
Jan 11, 2021
According to Market Research Future (MRFR), Global Drug Device Combination Market Would Garner Exponential Accruals by 2023. In its Recently Published Analysis, MRFR also Asserts that Market Would Register over 11.4% CAGR Throughout the Review Period (2017 – 2023). Increasing Cancer Cases is a Major Driving force Behind the Market Growth.
Drug Device Combination Market – Overview
The drug device combination market is growing pervasively over the past few years. Factors such as the extensive utilization of drug-device combination during treatments of cardiovascular diseases, urology diseases, and others foster the growth of the market. Furthermore, the rising prevalence of chronic diseases like cancer and diabetes, and increasing uses of biologics escalate the market on the global platform.
Additional factors that are positively impacting the market growth include technological advancements and improving outcomes & patients’ experience. Also, beneficial reimbursement policies and increasing awareness towards healthcare are propelling the market growth.
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Conversely, safety concerns, and side effects occurring during the use of the combination alongside, the high cost of the products are growth restraining factors. Also, the risk of hospital-borne infections and the introduction of the alternative approaches to drug are expected to impede the market growth of these devices.
Major Players:
Players leading the global drug device combination market include Abbott Laboratories, 3M, AlloSource, Biometrix Medical, Biomet Orthopedics, Inc., Biotronik, C.R. BARD, Inc., Boston Scientific Corporation, Cook Critical Care, Inc., Smith & Nephew Plc, Covidien Ltd, St. Jude Medical Inc, Wright Medical Group, Inc., Stryker Corporation and, Zimmer Holding, Inc., among others.
Industry/ Innovation/ Related News:
July 25, 2019 —- Zambon (Italy), a pharmaceutical company, announced the acquisition of Breath Therapeutics GmbH (Germany) for around €500 MN (about USD 559 MN), to add respiratory Pipeline.
Recently, Breath launched the Phase III trials, a full commercial-scale production for the drug-device combination. Breath had invested USD 46 MN series funding to initiate initiated commercial activities to prepare for Phase III trials and support the future product launch. The deal adds this Phase III program to the Zambon’s severe respiratory disease pipeline.
Drug Device Combination Market – Segments
The report segments the market into four key dynamics to widen the scope of understanding,
By Product : Catheters (Antimicrobial catheter, Urological catheters, Cardiovascular catheters, and Oximetry catheters, others.) and Advanced Wound Care Products (Antibiotic wound care and Bone Graft Substitutes, others), among others.
By Application : Coronary angioplasty, Tachycardia management, Non-Cardiovascular Treatments, Peripheral arterial disease (PAD), Bone Treatment, Antimicrobial Applications, Wound Care, and Ophthalmic Treatment, among others.
By End-user : Hospitals & Clinics, Ambulatory Centres, and Academic & Research Organization, among others.
By Regions : Europe, North America, Asia Pacific, and the Rest-of-the-World.
Drug Device Combination Market – Geographical Analysis
The North American region would continue dominating the global drug device combination market. Large developments in medical technology alongside, the vast patient pool suffering from chronic diseases, such as diabetes and cancer and the presence of geriatric population are supporting the growth of the market. This well-developed region gets an edge over other regions in terms of every aspect, including healthcare and technology due to its highest GDP, worldwide.
Moreover, the rising prevalence of cardiovascular diseases and presence of major market players in the region impacts the market growth, positively. Additionally, suitable reimbursement policies, high healthcare expenditure, and developed healthcare sector in the US and Canada boost the regional market growth.
The European region is at the second position in the global drug device combination market. The resurging economy in this region plays a vital role in the development of the market, allowing the healthcare sector to proliferate. Germany, backed by its flourishing medical device markets, contributes to the growth of the regional market, hugely.
Furthermore, the UK and France heading with the increasing investments in drug device combination, drive the regional market largely. The Europe drug device combination market is estimated to create a substantial revenue pocket throughout the review period.
The Asia Pacific drug device combination market is emerging as a promising market, globally, mainly due to the presence of increasing numbers of market players. Proliferating healthcare sector alongside, increasing government support for foreign investments are some of the factors that attribute to the regional market growth.
Moreover, huge patient population and large unmet needs are accelerating the market demand. The rising demand for quality healthcare devices and rapidly developing healthcare technology in emerging economies, such as China, Japan, South Korea, and India, are expected to lead the market growth in the APAC region.
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