Drug-Device Combination Products Market Report 2021: Latest Trends, Top Manufacturers, Product Type, End User, Impact Due to COVID-19 and Forecast 2027

 A comprehensive overview of the Drug-Device Combination Products market is recently added by UnivDatos Market Insights to its humongous database. The Drug-Device Combination Products market report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the drug-device combination products market. The Drug-Device Combination Products Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the drug-device combination products market at the global and regional levels. The Global Drug-Device Combination Products Market is expected to grow significantly by 2027.

Market Overview

The increasing demand for portable medical devices has stimulated the demand for technologically advanced drug-device combination products. These devices are used in patients who are suffering from chronic diseases such as cancer, diabetes, cardiovascular diseases etc. For instance, in February 2020, the BD (Becton, Dickinson, and Company), a leading global medical technology company, announced their completion of a 50-subject human clinical trial with the “BD Libertas Wearable Injector”. Moreover, the surge in the home-based care service is also driving the market growth. According to one of the top global data bases, health tech has seen strong investment growth in 2019, claiming a record USD 7.8 billion for virtual care investment. For instance, “Amwell” a healthcare firm, accounted for considerable funding, raised almost US$ 500 million in 2020, from investors including Allianz X and Philips. Homebased healthcare provides faster care to the patients and helps them to avoid hospitals.

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COVID-19 Impact

During the COVID-19 pandemic, majority of the pharma company have experienced huge losses due to the suspension of clinical trials. Also, in the short term, the pandemic has created an immediate need to address active supply chain disruptions. For instance, according to the Jabil survey 2020, across seven industries and the 715-supply chain decision-makers, all have suffered huge financials losses due to supply chain disruption. The hardest hit is the retail and healthcare sectors. Healthcare sector experienced the highest percentage of respondents who stated their companies have experienced negative financial impact greater than US$ 500 million from March to August in 2020. 

Global Drug-Device Combination Products Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Product, the market is primarily bifurcated into:

•       Drug-eluting stent  

•       Infusion pump

•       Photosensitizers

•       Prefilled syringe

•       Wound care Combination Products

•       Orthopaedic Combination Products

•       Drug-eluting balloon

•       Inhalers

•       Transdermal delivery system

•       Others

The Transdermal delivery system segment generated the highest revenue in 2020 and the market is expected to grow at a significant rate during the forecast period.

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By Application, the market is primarily bifurcated into:

•       Cardiovascular disease

•       Diabetes

•       Respiratory problem

•       Cancer treatment

•       Antimicrobial application

•       Others

The Cardiovascular disease segment accounted for the major revenue portion in 2020 and the sector is anticipated to observe lucrative growth in the upcoming years.

By Distribution Channel, the market is primarily bifurcated into:

•       Hospital Pharmacies

•       Retail Pharmacies

•       Online Pharmacies

The Retail Pharmacies segment accounted for the major revenue portion in 2020. The sector is anticipated to observe considerable growth in the upcoming years.

By End-user, the market is primarily bifurcated into:

·       Hospital & Clinic

·       Ambulatory Surgery Centre

·       Home Care Setting

·       Others

The Hospital & Clinic segment is anticipated to observe lucrative growth in 2020.

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Drug-Device Combination Products market Geographical Segmentation Includes:

·       North America (US, Canada, and Rest of North America)

·       Europe (Germany, UK, Italy, France, Spain, and Rest of Europe)

·       Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)

·       Rest of the World

Based on the estimation, North America constitutes a major market for the drug-device combination products industry and generated maximum revenue in 2020 owing to the presence of major companies and healthcare infrastructure with the highest rate of chronic diseases across the world.

The major players targeting the market includes

·       Medtronic PLC

·       Abbott Laboratories

• Smith & Nephew plc
• Boston Scientific Corporation
• GlaxoSmithKline plc
• Becton Dickinson and Company
• Johnson & Johnson
• Novartis AG
• Bayer AG
• Baxter International, Inc.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the ventricular assist devices market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

•       What are the latest trends, new patterns, and technological advancements in the drug-device combination products market?

•       Which factors are influencing the ventricular assist dev drug-device combination products market over the forecast period?

•       What are the global challenges, threats, and risks in the drug-device combination products market?

•       Which factors are propelling and restraining the drug-device combination products market?

•       What are the demanding global regions of the drug-device combination products market?

•       What will be the global market size in the upcoming years?

•       What are the crucial market acquisition strategies and policies applied by global companies?

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