Drug Device Combination Market Analysis

Drug Device Combination Market Overview

The Drug Device Combination Market Size was valued at USD 193.6 billion in 2023 and is projected to grow from USD 207.5 Billion in 2024 to USD 337.63 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.27% during the forecast period (2024 - 2032). Rapidly increasing physician and patient preference for minimally invasive treatments and consistent-dosing treatment options are the key market drivers boosting drug device combination industry share.

Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

Drug Device Combination Market Trends

• Rising chronic disease rates and the demand for new drug delivery systems to drive market growth

Drug device combination products are therapeutic and diagnostic items that combine medications, technology, and biological products. Monoclonal antibodies in conjunction with a medicinal drug, pacing leads with steroid-coated tips, catheters with an antibacterial coating, and first-aid kits with bandages and gauze are a few examples of frequently used drug device combinations. The subsequent increase in adopting these products can be attributed to associated benefits such as reduced pain levels, improved patient outcomes, shorter hospital stays, and overall cost-effectiveness in healthcare. Improved tolerance levels, streamlined dosage regimens, improved symptomatic and pharmacokinetic profiles, synergistic effects that facilitate multi-target treatment, and enhanced dosage regimens are additional benefits. These benefits are expected to drive demand for these systems and provide numerous growth opportunities for the drug device combination market CAGR.

Numerous chronic diseases are becoming more commonplace globally, which increases the need for potent dosage forms of treatment for these enduring illnesses. The elderly population is becoming more vulnerable to various chronic diseases, requiring effective and secure treatment options for improved health outcomes. This is the fundamental cause of the Drug Device Combination Market revenue growth. Statistics show that women typically live five more years than men, with the average life expectancy at birth rising to 72.3 years globally (74.7 years versus 69.9 years, respectively). Since most older adults respond more reliably to non-invasive treatments, it is anticipated that the growing burden of the senior population will increase the need for targeted drug-delivery devices to treat chronic diseases effectively.

Drug Device Combination Market Segment Insights

Drug Device Combination Product Insights

Based on product, the Market segments of Drug Device Combination includes catheters, antimicrobial applications, and advanced wound care products. The advanced wound care products segment held the majority share in 2022, contributing to around ~45-47% of the Drug Device Combination Market revenue. The rising prevalence of diseases and conditions that impair wound healing, rising costs associated with chronic wounds, and technological advancements are the primary drivers of market growth in this segment. Technological advancements in advanced wound care are resulting in the introduction of innovative and more effective products. Besides, rising medical safety regulations are expected to support domain expansion during the projected timeline. Prominent players are also developing innovative products to provide patients with better treatment options. Aside from a high oxygen exchange and moisture retention potential, modern developments have a higher absorption capacity, which is critical for preventing wound seepage. With the growing popularity of such products, their use in contemporary healthcare settings is increasing.

October 2019: 3M Company acquired Acelity Inc. This acquisition improved 3M's abilities in advanced wound care products, a sizeable and expanding market segment for drug device combinations.

June 2022: Smith & Nephew (UK) declared plans to build a new R&D and manufacturing facility on the outskirts of Hull, UK, for its advanced wound care management franchise. In its first ten years of operation, this new facility is expected to generate more than USD 10 billion in drug device combination industry sales.

Drug Device Combination Application Insights

Applications have bifurcated the Drug Device Combination Market data into coronary angioplasty and tachycardia management. The tachycardia management segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period 2024-2032, owing to the growing geriatric population and increasing demands for drug device combinations globally to treat heart diseases. Tachycardia can be caused by various abnormal heart rhythms (arrhythmias). A rapid heart rate is only sometimes a cause for concern. For example, the heart rate frequently increases during physical activity or in response to stress. Its advantages include targeted patient compliance, better compliance, controlled drug administration, and fewer side effects. It has numerous applications in the medical industry, driving this segment’s market growth.

Drug Device Combination End User Insights

The global drug device combination industry has been segmented based on end-users into hospitals and clinics. Hospitals held the most prominent segment share in 2022. This occurred due to the specialized services offered by well-trained staff in inpatient hospital settings to patients with wounds. Moreover, the growing number of patients admitted to hospitals for chronic bruise treatment, the increasing number of people with HAIs, and the increasing number of surgeries performed in hospitals all contribute to the category's expansion. In hospitals, modern technological equipment is well-equipped to provide better treatments. Combination therapy, also recognized as medication device combination, is utilized in the most clinical sector where treatment is complex, like chemotherapy, due to its benefits, low costs, and simple formats. During the various COVID-19 waves, there was an increase in the use of some combination products. Government support and expanding healthcare infrastructure in emerging economies contribute to this market sector's growth.

Figure 1: Drug Device Combination Market by End User, 2023 & 2032 (USD Billion)Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

The clinic category is expected to have the highest CAGR in the drug device combination industry throughout the forecasting period due to its ability to diagnose disease and provide practical, long-term treatment under the supervision of doctors in developing countries. Clinic operations frequently have lower co-pays than hospital stays. Clinics shorten patient wait times in addition to simplifying scheduling and facility access. A more reasonable price combined with a caring clinical staff results in an excellent patient-centric experience. These factors, combined with the increasing use of drug device combination therapies in clinics, accelerate the segment's growth.

Drug Device Combination Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Drug Device Combination market accounted for USD 82.71 billion in 2022 and is likely to exhibit a significant CAGR growth over the study period. This can be attributed to major regional players' extensive new product development activities. The rising chronic disease burden in this region is one of the critical potential growth factors driving the high clinical urgency to incorporate these drug device combination products. Other factors driving regional development include advancements in wound healing biologics and increased participation of public and private organizations in raising awareness of new approaches to healing injuries.

Further, the significant countries studied in the global market report are the U.S., Germany, Canada, France, the UK, Spain, Italy, Japan, India, Australia, China, South Korea, and Brazil.

Figure 2: DRUG DEVICE COMBINATION SHARE BY REGION 2023 (%)Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

The European drug device combination market accounts for the second-largest market share due to the rapid adoption of these products along with well-developed regional healthcare infrastructure. In addition, the region's growth is anticipated to be boosted by introducing new products, significant R&D expenditures, and the rising prevalence of chronic diseases. The market for drug device combination further benefits from a large regional patient pool. Additionally, the German market of drug device combination held the largest market share, and the UK market of drug device combination was the fastest-growing market in the European region.

The Asia-Pacific Drug Device Combination Market is anticipated to grow at the fastest CAGR from 2024 to 2032. The substantial increase is attributed to rising healthcare spending. The regional market's growth is also attributed to an increase in physician awareness of the advantages of these products, which include low dosage requirements, timed medication release, direct device-centered infection mitigation using a combination of anti-infective drugs, and reduced systemic exposure. High R&D investments by global players and the increasing commercialization of these systems developed by key players are driving the market. Besides, the urgent need for developing new strategies and substituting and upgrading medical infrastructure is expected to provide lucrative growth opportunities for the Asia Pacific drug device combination market in the forecast period. Moreover, China’s market of drug device combination held the largest market share, and the Indian market of drug device combination was the fastest-growing market in the Asia-Pacific region.

Drug Device Combination Key Market Players & Competitive Insights

Major market players are incorporating tracking and monitoring technologies into drug device combination products. Additionally, they are launching high-end products made with sophisticated, active ingredients, formulations, delivery methods, and dosage forms like liposomes, peptides, and transdermal. Products with some significant benefits, like few side effects, controlled drug administration, enhanced patient compliance, and targeted drug delivery, have been made available recently by the global drug device combination industry.

The drug device combination market major players such as AlloSource, Biometrix Medical, C.R. BARD Inc, Covidien Ltd, and others are concentrating on creating next-generation products with high viscosity, compositions, and new classes of biologics. As a result, demand for these products is expected to rise to provide patients with treatment options and solutions that allow them to adhere to their therapy more effectively. The key players are pursuing comprehensive market development strategies, such as new product development activities, regulatory approvals, contractual agreements, increased R&D investments, and mergers & acquisitions, which have contributed significantly to their growth. Competing companies in the drug device combination industry must provide cost-effective products to diversify and remain viable in an extraordinarily competitive and soaring market environment.

Owen Mumford produces and distributes a wide range of innovative medical devices for drug discovery and capillary blood testing for our global customers. Owen Mumford, a drug device combination manufacturing company based in the United Kingdom, launched the Aidaptus auto-injector platform in September 2021. Aidaptus is a two-stage, spring-powered, single-use auto-injector with a base unit that can accommodate both prefilled glass syringes measuring 1.25 ml and 2.25 ml. It is a hypodermic syringe that can be used to administer medication. It has self-adjusting plunger stopper sensing technology that automatically adapts to the different stopper positions and fills levels in each needle without requiring extra components.

Also, Becton, Dickinson, and Company, or BD, is a conglomerate medical technology company based in the United States that manufactures and distributes medical devices, measurement systems, and reagents. Additionally, in certain regions, BD offers consulting and analytics services. BD paid an undisclosed sum to acquire Zebrasci in July 2021. This acquisition will allow BD to broaden its contract development service offerings, including screening and validating combination products, to consolidate its position in the market of drug device combination. Zebrasci is a biotechnology company based in the United States that assists in developing drug device combination products.

Key Companies in the market of drug device combination include

• 3M


• Abbott Laboratories


• AlloSource


• Biomet Orthopedics Inc


• Biometrix Medical


• Biotronik


• Boston Scientific Corporation


• R. BARD Inc


• Cook Critical Care Inc


• Covidien Ltd

Drug Device Combination Industry Developments

November 2020: Boston Scientific Corporation has received FDA approval for the ranger Drug-Coated Balloon, developed to treat patients with peripheral artery disease in the superficial femoral artery and proximal popliteal artery.

March 2020: Abbott Laboratories received the CE Mark for its Portico transcatheter aortic valve implantation (TAVI) system's new FlexNav delivery platform.

Drug Device Combination Market Segmentation

Drug Device Combination Product Outlook

• Catheter


• Antimicrobial Applications


• Advanced Wound Care Products

Drug Device Combination Application Outlook

• Coronary Angioplasty


• Tachycardia Management

Drug Device Combination End User Outlook

• Hospitals


• Clinics

Drug Device Combination Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America