Drug Device Combination Products Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers Drug-device Combination Products Market Development & Growth and the market is Segmented by Products (Drug-Eluting Stents, Transdermal Patches, Drug-Eluting Balloons, Infusion Pumps, Inhalers, Others), Applications (Cardiovascular, Diabetes, Cancer Treatment, Respiratory Diseases, Others), End-User (Hospitals, Ambulatory Surgical Centers, Others) and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market provides the value (in USD million) for the above-mentioned segments.

Drug Device Combination Products Market Size

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Drug Device Combination Products Market Summary
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Study Period 2021 - 2029
Market Size (2024) USD 132.99 Billion
Market Size (2029) USD 176.29 Billion
CAGR (2024 - 2029) 5.80 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Drug Device Combination Products Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Drug Device Combination Products Market Analysis

The Drug Device Combination Products Market size is estimated at USD 132.99 billion in 2024, and is expected to reach USD 176.29 billion by 2029, growing at a CAGR of 5.80% during the forecast period (2024-2029).

At the outbreak of the COVID-19 pandemic, most pharmaceutical companies and governments are working toward offering efficient medical treatment to COVID-19 patients, and drug delivery devices are expected to play a vital role in this context. For instance, according to the article 'EU regulatory roundup: Combination products, Eudamed, COVID-19 IVDs,' published in April 2021, Europe issued new guidelines related to drug-device combination products used for COVID-19 testing where it explains quality requirements that manufacturers must address in their marketing authorization reports. Such guidelines help in the development of improved drug-device combination products for COVID-19 testing, driving market growth during the pandemic. Furthermore, post-pandemic, drug-device combination products are expected to show significant growth due to the rise in the adoption of innovative products for the effective delivery of the drug, ease of use of these products, and ease of availability after the pandemic restrictions, among others.

The market is primarily driven by the growing prevalence of chronic diseases such as diabetes, respiratory diseases, and cancer and the adoption of novel drug delivery systems for these diseases. For instance, according to the IDF 2021, approximately 537 million adults are living with diabetes, and the number of people adults living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Such a rise in metabolic diseases is expected to drive market growth due to the rise in the adoption of drug delivery combination products in uniform drug delivery.

Moreover, expanding applications of drug-device combination products and the launch of new products over the period are expected to bolster market growth. For instance, in November 2021, Becton, Dickinson, and Company launched BD UltraSafe Plus 2.25 mL Passive Needle Guard in drug-device combination products. When combined with a prefillable syringe, the BD UltraSafe Plus 2.25 mL system enables the subcutaneous delivery of biologic solutions of different viscosities up to 30 cP and fill volumes up to 2 mL.

In addition, growing healthcare infrastructure and advances in drug delivery technologies are expected to aid the market growth over the period. However, stringent regulatory policies, product recalls, and complications associated with some of the drug-device combinations are expected to hamper the market.

Drug Device Combination Products Market Trends

This section covers the major market trends shaping the Drug Device Combination Products Market according to our research experts:

Drug Eluting Stents are Expected to Grow at Notable Rates Over the Forecast Period.

The drug-eluting stent is a semi-rigid, tube-like device that is made of metal and coated with medication that is slowly released or eluted, which helps to block cell proliferation. The introduction of the drug-eluting stent (DES) has further pushed medical technology to a new standard of care. The drug-eluting stents are of different types, first, second, and third-generation DESs (drug-eluting stents).

The increasing prevalence of cardiovascular disease is one of the major factors leading to increased demand for drug-eluting stents. Additionally, key players in the studied market are focusing on frequent product developments and approvals, which is substantially driving the market growth during the forecast period.

In August 2021, in collaboration with the National University of Ireland Galway (NUI Galway), SINOMED publicized the first commercial implantation of the HT Supreme Drug-Eluting Stent (DES) at University Hospital Galway, marking the start of the European rollout. This will likely help interventional cardiologists to treat patients with coronary artery disease (CAD) who have small vessels often untreatable with larger stent technologies during the percutaneous coronary intervention (PCI).

Furthermore, the rise in initiatives from the key market players for the launch of innovative devices is expected to drive this segment's growth over the forecast period due to increased adoption. For instance, in August 2022, Medtronic launched its newest drug-eluting coronary stent, the Onyx Frontier drug-eluting stent (DES). The DES leverages the best-in-class stent platform with an enhanced delivery system designed to improve deliverability and increase acute performance in the most challenging cases.

Thus, these aforementioned factors are expected to contribute to the overall segment, with a significant growth rate expected over the forecast period.

Drug Device Combination Products Market - Estimated Prevalence of Heart and Circulatory Diseases (in Million), United Kingdom, 2022

North America is Projected to Have Significant Market Share in the Market Studied

North America is projected to have a significant market share among the regions owing to the adaptation of drug-device combination products coupled with well-established healthcare infrastructure in the region.

The United States is home to some of the largest research and academic institutes and pharmaceutical companies in the world. With increasing investments being made in the research and development of products by companies, there is likely to be an increase in demand for drug-device combination products since many vaccines and other therapeutics are produced by these sectors.

The United States is expected to hold a significant market in the overall drug-device combination products market throughout the forecast period due to the growing incidence of chronic diseases, the strong foothold of key market players, and the increase in the geriatric population. For instance, in March 2022, Viatris Inc received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Breyna (Budesonide and Formoterol Fumarate Dihydrate Inhalation Aerosol), the first approved generic version of AstraZeneca's Symbicort. Breyna is a drug-device combination product that is indicated for certain patients with asthma or chronic obstructive pulmonary disease (COPD). Such launches of drug-device combination products in the United States are expected to drive market growth in this region due to the rise in the adoption of such devices for controlled drug delivery.

Furthermore, the rise in partnerships and acquisitions among key market players for developing innovative products for chronic diseases is expected to surge the market growth in this region. For instance, in May 2021, Lilly partnered with four companies on insulin pen tech. These partners provide app compatibility for the Tempo Smart Button and Tempo Pen to streamline diabetes care by automating data collection for tracking insulin doses. In addition, in December 2021, Assertio Holdings, Inc. acquired Otrexup (methotrexate), a drug-device combination single dose once weekly auto-injector, from Antares Pharma, Inc.

All these factors are expected to boost the market growth in the region during the forecast period.

Drug Device Combination Products Market - Growth Rate by Region

Drug Device Combination Products Industry Overview

The drug-device combination market is moderately fragmented, with many market players. Market players focus on new product developments, collaborations, and regional expansion to expand their market share. Some of the key market players operating in this market include Abbott Laboratories, Medtronic Plc, Boston Scientific Corp, Becton, Dickinson and Company, Novartis AG, and GlaxoSmithKline plc, among others.

Drug Device Combination Products Market Leaders

  1. Abbott Laboratories

  2. Medtronic Plc

  3. Boston Scientific Corp

  4. Becton, Dickinson and Company

  5. Novartis AG

*Disclaimer: Major Players sorted in no particular order

Drug Device Combination Products Market Concentration
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Drug Device Combination Products Market News

  • August 2022: Terumo Corporation launched G-Lasta Subcutaneous Injection 3.6 mg BodyPod', a drug-device combination product co-developed with Kyowa Kirin Co., Ltd. The product received approval from Japan's Ministry of Health, Labour, and Welfare (MHLW).
  • June 2022: Novartis acquired Kedalion Therapeutics and its AcuStream technology that facilitate precise dosing and accurate delivery of certain topical ophthalmic medications to the eye. The acquisition enhances the Novartis ophthalmics portfolio, advancing efforts to investigate transformative ophthalmic methods to address unmet patient needs in front-of-eye conditions.

Drug Device Combination Products Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Incidence of Chronic Diseases coupled with Need For Novel Drug Delivery Systems

      2. 4.2.2 Increase in Geriatric Population

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent Government Policies

      2. 4.3.2 Product Recalls and Associated Complications

    4. 4.4 Porter Five Forces

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 5.1 By Products

      1. 5.1.1 Drug Eluting Stents

      2. 5.1.2 Transdermal Patches

      3. 5.1.3 Infusion Pumps

      4. 5.1.4 Drug Eluting Balloon

      5. 5.1.5 Inhalers

      6. 5.1.6 Others

    2. 5.2 By Application

      1. 5.2.1 Cardiovascular

      2. 5.2.2 Diabetes

      3. 5.2.3 Cancer Treatment

      4. 5.2.4 Respiratory Diseases

      5. 5.2.5 Others

    3. 5.3 By End-User

      1. 5.3.1 Hospitals

      2. 5.3.2 Ambulatory Surgical Centers

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 Medtronic Plc

      3. 6.1.3 Boston Scientific Corp

      4. 6.1.4 Becton, Dickinson and Company

      5. 6.1.5 Novartis AG

      6. 6.1.6 GlaxoSmithKline plc

      7. 6.1.7 Allergen, Inc.

      8. 6.1.8 W. L. Gore & Associates, Inc.

      9. 6.1.9 Stryker Corporation

      10. 6.1.10 Terumo Corporation

      11. 6.1.11 Mylan NV

      12. 6.1.12 Cook Medical

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments
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Drug Device Combination Products Industry Segmentation

As per the scope of this report, drug-device combination products comprise at least two products, one of the medical devices and the other of drugs that work in coordination with treatment. The Drug-Device Combination Products Market is segmented by Products (Drug-Eluting Stents, Transdermal Patches, Drug-Eluting Balloons, Infusion Pumps, Inhalers, Others), Applications (Cardiovascular, Diabetes, Cancer Treatment, Respiratory Diseases, Others), End-User (Hospitals, Ambulatory Surgical Centers, Others) and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Products
Drug Eluting Stents
Transdermal Patches
Infusion Pumps
Drug Eluting Balloon
Inhalers
Others
By Application
Cardiovascular
Diabetes
Cancer Treatment
Respiratory Diseases
Others
By End-User
Hospitals
Ambulatory Surgical Centers
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Drug Device Combination Products Market Research FAQs

The Drug Device Combination Products Market size is expected to reach USD 132.99 billion in 2024 and grow at a CAGR of 5.80% to reach USD 176.29 billion by 2029.

In 2024, the Drug Device Combination Products Market size is expected to reach USD 132.99 billion.

Abbott Laboratories, Medtronic Plc, Boston Scientific Corp, Becton, Dickinson and Company and Novartis AG are the major companies operating in the Drug Device Combination Products Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Drug Device Combination Products Market.

In 2023, the Drug Device Combination Products Market size was estimated at USD 125.70 billion. The report covers the Drug Device Combination Products Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Drug Device Combination Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Drug Device Combination Industry Report

Statistics for the 2024 Drug Device Combination market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Drug Device Combination analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Drug Device Combination Products Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)