Drug Device Combination Market Synopsis
According to Market Research Future (MRFR), the global drug-device combination market is anticipated to expand at a CAGR of 11.4% while procuring a significant market value during the review period from 2018-2023.
Drug device combination market 2020 is anticipated to be majorly driven by the growing demand for minimally invasive medical procedures to cure the prevailing chronic diseases like diabetes, respiratory ailments, and cancer. The product is likely to gain prominence owing to its benefits, such as; efficient results, reduced pain to the patient, and cost-effectiveness, which may strengthen the drug-device combination trade. Furthermore, the growing involvement of various government health organizations to assure the safety of patients is anticipated to develop the market in the assessment period.
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On the flip side, stringent rules and regulations for the approval of drug-device combination products can limit the market expansion. However, the growing healthcare expenditure and rising R&D expenses by key players are expected to counter the hampering cause that can fuel the market during the forecast period.
Drug Device Combination Market Segmentation
The segmental analysis of the global drug-device combination market is done by application, end-user, and product.
The application-based segments of the global drug-device combination market are tachycardia management, coronary angioplasty, non-cardiovascular treatments, bone treatment, peripheral arterial disease (pad), antimicrobial applications, ophthalmic treatment wound care, and others.
The end-user based segments of the global drug-device combination market are ambulatory centers, hospitals & clinics, and academic & research organization, and others.
The product-based segments of the global drug-device combination market are advanced wound care products, catheters, and others.
Drug Device Combination Market Regional Analysis
Based on the region, the global market for drug-device combination market is segmented into the Americas, Asia-Pacific, Europe, and the Middle East & Africa.
According to the analysis conducted by MRFR, the Americas is expected to lead the global market during the forecast period owing to the increasing prevalence of cardiovascular ailments among the growing geriatric population. The presence of key players provides a superior position to the region to strengthen the market. In addition, the prevailing advanced healthcare infrastructure is likely to propel the regional market in the assessment period.
Europe is anticipated to acquire a second position in the global drug-device combination market during the forecast period. The growing awareness about advanced medical devices along with the swift development of the healthcare infrastructure can augment the regional market in the coming period. Furthermore, the increasing patient pool is anticipated to pose an urgency to provide an efficient medical tool that can combat the growing chronic ailments.
The APAC region is estimated to be the fastest-expanding region during the review period owing to the growing patient pool and the rising geriatric population. The swift developments of the healthcare infrastructure with the growing assistance of the government for foreign investment are other salient causes, which can aid to expand the regional market in the assessment period. Moreover, the participation of emerging nations like India and China can grow the market notably owing to the on-going developments in both countries.
The MEA region is expected to account for the least market share owing to the low per capita income, specifically in the African region. The Middle East region is anticipated to make salient participation in underpinning the market growth in the review period.
Drug Device Combination Market Key Players
Eminent players of the global market for drug-device combination market are AlloSource, Abbott Laboratories, Biomet Orthopedics, Inc., Biotronik, Boston Scientific Corporation, Wright Medical Group, Inc., and St. Jude Medical Inc, 3M Inc.
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.4 Macroeconomic Indicators
4.5 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
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