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Drug Device Combination Products Market Trends

Report ID: GMI9674
Published Date: May 2024
Report Format: PDF

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Drug Device Combination Products Market Trends

Continued advancements in both drug and medical device technologies are driving innovation in drug-device combination products. This includes the development of novel materials, improved delivery mechanisms, and enhanced connectivity features to improve patient outcomes and treatment efficacy.
Furthermore, there is a growing focus on personalized medicine, driven by advances in genomics, biomarkers, and targeted therapies. Drug-device combination products enable more precise and tailored treatment approaches, allowing for individualized therapy management based on patient-specific characteristics and needs.
Additionally, the increasing prevalence of chronic diseases such as diabetes, cardiovascular diseases, and respiratory disorders is fueling the demand for innovative treatment options. Drug-device combination products offer effective and targeted therapies for managing chronic conditions, improving patient outcomes, and reducing healthcare costs.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market size of drug device combination products was reached USD 134 billion in 2023 and is expected to register 7.8% CAGR from 2024 to 2032, owing to the continuous advancements in both drug and medical device technologies driving innovation in drug-device combination products worldwide.

Drug device combination products market from the transdermal delivery systems segment is expected to reach USD 63.2 billion by 2032 due to offering a convenient and non-invasive route of drug administration, which can improve patient compliance.

The U.S. drug device combination products industry is estimated to cross USD 81 billion by 2032 due to technological advancements, regulatory compliance, patient safety concerns, and operational efficiency needs in the region.

Boston Scientific Corporation, GlaxoSmithKline plc, Johnson & Johnson, Kaleo, Inc., Medtronic plc, Novartis AG, SINOMED, Smith & Nephew plc, Teleflex Incorporated, and Teva Pharmaceutical Industries Ltd., are some of the major drug device combination products companies worldwide.