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Drug Device Combination Global market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company's Drug Device Combination Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, October 9, 2024 /EINPresswire / -- The drug device combination market has experienced robust growth in recent years, expanding from $120.37 billion in 2023 to $134.41 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to increasing medical innovation, rise in chronic diseases, patient-centric approaches, advances in biologics, challenges of monotherapy, clinical needs.
What Is The Estimated Market Size Of The Global Drug Device Combination Market And Its Annual Growth Rate?
The drug device combination global market is projected to continue its strong growth, reaching to $205.86 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to patient empowerment and engagement, healthcare digitalization, global market expansion, emergence of novel therapies, value-based healthcare. Major trends in the forecast period include therapeutic advancements, complex disease management, patient-centric care, technological innovations, regulatory support.
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Growth Driver Of The Drug Device Combination Market
The increasing prevalence of chronic diseases is anticipated to drive the drug-device combination market. Chronic disease refers to a type of disease that persists for a year or longer, impedes everyday activities, necessitates continuing medical care, or both. Chronic disease includes heart disease, diabetes, and so on. Drug device combinations are therapeutic and diagnostic products that lead to effective treatment of people suffering from chronic diseases.
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Which Market Players Are Driving The Drug Device Combination Market Growth?
Key players in the drug device combination market include The 3M Company, Abbott India Ltd., Biotronik SE & Co. KG, Boston Scientific Corporation, C. R. Bard Inc., Medtronic plc, Amgen Inc., Ypsomed Holding AG, Micron Biomedical Inc., MetP Pharma AG, Sonceboz SA, Propeller Health B.D. Inc., Lepu Medical Technology (Beijing) Co. Ltd., Eitan Medical Ltd., Vaxess Technologies Inc., Subcuject Aps, Allergan plc, Terumo Corporation, Stryker Corporation, Becton Dickinson and Company, Novartis AG, Zimmer Biomet Holdings Inc., MediPrint Ophthalmics, Arrow International Inc., Alcon Inc., W. L. Gore & Associates Inc., Cook Medical LLC, Pinnacle Biologics Inc., GlaxoSmithKline plc, Mylan N.V..
What Are the Key Trends That Influence The Drug Device Combination Market Size ?
Technological advancement is a key trend in the drug-device combination market. New technologies are being introduced by major corporations in the market that works on self-adjusting plunger stopper detection technology to sustain their position in the market.
How Is The Global Drug Device Combination Market Segmented?
1) By Product: Auto-Injector, Microneedle Patch, Digital Pill, Smart Inhaler, Drug Delivery Hydrogels, Drug-Eluting Lens, Other Products
2) By Distribution Channel: Direct Tender, Retails Sales, Other Distribution Channels
3) By Application: Orthopedic Diseases, Respiratory Diseases, Diabetes, Oncology, Cardiovascular Diseases, Other Applications
4) By End User: Clinics, Hospitals, Home Care Settings, Ambulatory Care Centers, Other End Users
Geographical Insights: North America Leading The Drug Device Combination Market
North America was the largest region in the drug-device combination market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the drug device combination market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Drug Device Combination Market Definition
Drug-device combination refers to therapeutic and diagnostic products that associate a medical device with a drug for local administration of the drug, precise drug targeting, and individualized therapy. These are physically and chemically combined to produce a single entity and packaged together in a single package. The drug-device combination is used in clinical development to deliver drugs to the desired location in the body.
Drug Device Combination Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Macroeconomic factors affecting the market in the short and long run
.Analysis of the macro and micro economic factors that have affected the market in the past five years
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global drug device combination market report covering trends, opportunities, strategies, and more
The Drug Device Combination Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on drug device combination market size, drug device combination market drivers and trends, drug device combination market major players, drug device combination competitors' revenues, drug device combination market positioning, and drug device combination market growth across geographies. The drug device combination market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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