Drug-Device Combination -Top 5 Unknown Facts

Drug-Device Combination: How the Market is Shaping up?
The healthcare sector is in constant search for easier procedures that would also take less time to administer. Knowing that the healthcare sector is all about precision, such development in technologies is no surprise. But how far it can impact? Physicians who treat patients with cardiac irregularities, cancer, and other chronic diseases can answer this question perfectly. It is all about timing. Treating patients within the golden hour of the demand can be cumbersome and there, such drug-device combinations can extend the chances of saving lives by adding a few extra seconds. Pharmaceutical companies have realized this well. That is why they are investing a lot in developing new methods.
So, What Are These?
The Drug-Device Combination is a type that is the outcome of the idea of combination products that first got approved by the FDA in the 1970s. Since then, constant changes have been implemented to develop better products that can bring in more efficiency in the treatment. These drug-device combinations often come in as a single entity that has been fused together either physically or chemically. It can also come as co-packed or kitted, and in different packs with a label mentioning how to use them together. In 2002, the Office of Combination Products (OCP) came into being owing to which the drug-device combinations are now well-formed and on a track with significant guidance.  
What is the Present Industrial Scenario?
Recent guidelines published by the European Medicines Agency (EMA) dealt with the marketing authorization or post-authorization application. This would impact the drug-device combination market overview. This guideline has its focus on the applicable standards, information that should be on the package regarding description, drug composition, and others, information regarding potential contamination to make the use of it safer. The board also includes several other market guidelines to make sure that its impact becomes holistic. Its aim is to make the practice more transparent and consistent.
What’s New?
Plans to innovate in the field are always on. A few of those are in the pipeline. For instance, in November 2019, Ivy Brain Tumor Center from the Barrow Neurological Institute and SonALAsense have inked a deal to make sure that they develop a new test that would be non-invasive for sonodynamic therapy (SDT). In December 2019, Tusker Medical, Inc. announced that they have a new product called the Tula System that got called approval from the FDA. In November 2019, Idorsia announced a deal with Antares Pharma, Inc where they would try to develop a drug called selatogrel that would work well with Antares QuickShot auto-injector. The former is preparing for a Phase 3 study of the drug-device combination.
Take on the Market 
These innovations are going to be a big deal for the global drug device combination market. A detailed look into the drug device combination industry growth analysis would reveal that there is a chance that the drug device combination market size would increase with players taking expansion route. One of the major reasons that can play in its favor is the new form that often allows patients to have it self-administered. In fact, a lot of them are in the pipeline waiting for FDA’s approval. With both physicians and patients preferring this drug-device combination, the market can expect more innovations.

Comments

Post a Comment

Popular posts from this blog

Proteomics Market Analysis, Demand Overview, Growth Analysis, Current Trends, Updates, and Global Industry Forecast to 2023

Market Highlights: The global proteomics market is anticipated to hold a market value of USD 23.2 billion in the year 2017 and is expected to grow at a CAGR of 14.1% during the forecast period. Proteomics is a science which is used to estimate the rate of protein production, interaction of proteins with one another, involvement of proteins in metabolic pathways, and modification of proteins. Also, it has extensive applications in drug discovery, development of personalized medicines, and identification of markers for disease diagnosis. Increasing need for personalized medicine, R&D expenditure, technological advancements and increased funding for proteomics project are expected to drive the market growth over the forecast period. For instance, in July 2017, Biognosys AG received USD 5 million funding from its new as well as existing investors. These new funds will be used for extending commercial operations and also to accelerate the development of next generation prote...
Read more

Pancreatic Cancer Market: America to Command the Largest Share

Market Overview: Pancreatic cancer can be defined as an enlarged tumor, which is generally caused by malignant cells present in the tissues of the pancreas. This type of cancer is generally caused due to drinking alcohol, smoking, genetic factors, radiotherapy in the past, obesity, inflammation of the pancreas, and diabetes mellitus. It is a type of cancer that starts in the pancreas and is a highly lethal disease. The global Pancreatic Cancer Market , as per a report by Market Research Future (MRFR) is touted to register 8.1% CAGR during the forecast period ( 2017-2023 ). The dearth of therapeutic approaches for early-stage detection has resulted in increased incidences of pancreatic cancer. Soaring prevalence of pancreatic cancer has resulted in germline mutations, thereby causing the defective genes to pass down to the children from their parents, thus making early detection of pancreatic cancer important. This has led to the growth of the market across the globe. Surging dem...
Read more

Immune Thrombocytopenia (ITP) Market is Estimated to Record Promising CAGR of 5.78% During Forecast 2018-2023

Market Highlights: As per the latest report published by Market Research Future (MRFR), the Global Immune Thrombocytopenia (ITP) is set to surpass a valuation of USD 2,300 Mn by the year 2023, reflecting a healthy CAGR. ITP is a blood related disorder that cause abnormal clotting. Some of the discomforts caused by the disease include bruising, bleeding and severe drop in platelets counts. Both minors and adults can develop the condition. The disease is classified into primary and secondary form. Primary form of ITP occurs on its own while the latter is an offshoot of another condition. The condition can be triggered by reactive medications, autoimmune disease, pregnancy and certain type of cancers. ITP is among the most commonly occurring disorder across the globe. In addition, the incidence rate has continued to spiral upwards in recent years. Factors as such as are fueling the demand for drugs and therapeutics for ITP. Currently, there are four treatment options available for ...
Read more