Drug Device Combination Market is Expected to Record a Successive Double-Digit CAGR of 11.4% During Forecast 2018-2023
The global drug-device combination market is
expected to grow at an approximate CAGR of
11.4% during the forecast period, 2018–2023.
Drug-device combination is the combination of drugs
and various medical devices that can be chemically/physically assembled as
separate or cross labeled products.
Factors such as the increasing global burden of the diseases like
cardiovascular diseases, urology diseases followed by growing healthcare
expenditure, rising awareness for the market products drives the market growth.
However, high cost of the products and related side effects, and presence of
low income countries within the developing regions restricts the market to grow
during the forecast period.
The factsheet of 2017 published by the
Centers for Disease Control and Prevention stated that ~ 30 million people, accounting for 15.0%
of U.S. adults population suffer from chronic kidney diseases (CKD). However,
high cost of the products and therapeutics related side effects restricts the
market growth within the region.
·
Abbott Laboratories
·
AlloSource
·
Biomet Orthopedics
·
Biometrix Medical
·
Biotronik
·
Boston Scientific Corporation
·
C.R. BARD
·
Cook Critical Care
·
Covidien Ltd
·
Stryker Corporation
Segmentation:
·
Based on product,
the market is segmented into catheter, advanced wound care products, and
others. The catheter segment is sub-segmented into antimicrobial catheter,
urological catheters, cardiovascular catheters, oximetry catheters,
thermodilution catheters, wound drainage catheter, and others.
·
The advanced wound
care products segment is sub-divided into antibiotic wound care, bone graft
substitutes, antibiotic bone cements, drug eluting stents, photodynamic
therapy. The bone graft substitutes segment is sub-segmented into ceramic based
bone graft substitute, allograft-based bone graft substitutes, cell-based bone
graft substitutes, and others.
·
On the basis of
application, the market is devised into coronary angioplasty, tachycardia
management, non-cardiovascular treatments, peripheral arterial disease (pad),
bone treatment, antimicrobial applications, wound care, ophthalmic treatment,
and others.
·
By end user, the
market is divided into hospitals & clinics, ambulatory centres, and
academic & research organization, and others. In the current scope of the
study, the above-mentioned segments are covered into the four global regions,
namely- the Americas, Europe, Asia-Pacific and the Middle East & African
region.
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In 2017, the Americas dominated the global drug
device combination market. Factors such as rising prevalence of cardiovascular
diseases, suitable reimbursement policies, high healthcare expenditure, and
presence of major market players within the region drives the market to grow.
Following a similar course, Europe stood second in the global drug device
combination in 2017. This can be attributed to the presence of a well-developed
healthcare infrastructure, increasing awareness for the combination products and
presence of developed economies within the region. Asia Pacific was projected
to be the fastest growing region in 2017, owing to increasing penetration of
the market players within the region, growing healthcare sector and increasing
government support for foreign investments.
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