Drug Device Combination Market Poised To Expand At 11.4% CAGR By 2023

Feb 17, 2020 (Heraldkeepers) — Drug Device Combination Market Overview

The global drug device combination market is expected to exhibit a strong 11.4% CAGR over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR).

Drug Device Combination Market Competitive Analysis:

Leading players in the global drug device combination market include Zimmer Holding Inc., Wright Medical Group Inc., Stryker Corporation, St. Jude Medical Inc., Smith & Nephew plc, Covidien Ltd., Cook Critical Care Inc., C.R. Bard Inc., Boston Scientific Corporation, Biotronik, Biometrix Medical, Biomet Orthopedics Inc., AlloSource, Abbott Laboratories, and 3M.

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Drug Device Combination Market Segmentation:

The global drug device combination market is segmented based on product, application, end use, and region.

By product, the global drug device combination market is segmented into catheters, advanced wound care products, and others. The catheter segment is sub-segmented into antimicrobial catheters, urological catheters, cardiovascular catheters, oximetry catheters, thermodilution catheters, wound drainage catheters, and others. The advanced wound care products segment is sub-divided into antibiotic wound care, bone graft substitutes, antibiotic bone cements, drug-eluting stents, and photodynamic therapy. The bone graft substitutes segment is sub-segmented into ceramic based bone graft substitutes, allograft-based bone graft substitutes, cell-based bone graft substitutes, and others.

By application, the global drug device combination market is segmented into coronary angioplasty, tachycardia management, non-cardiovascular treatments, peripheral arterial disease, bone treatments, antimicrobial applications, wound care, ophthalmic treatments, and others.

By end use, the global drug device combination market is segmented into hospitals and clinics, ambulatory centers, academic and research organizations, and others. Hospitals and clinics are likely to remain the leading end use segment over the forecast period due to their growing demand for drug device combinations.

Drug Device Combination Market Regional Analysis:

The Americas held the major share in the global drug device combination market in 2017 and are likely to emerge as the leading revenue generator over the forecast period till 2023, according to MRFR. The Americas drug device combination market is mainly driven by the growing awareness about the effectiveness of drug device combinations in North America, mainly the U.S. North America is likely to remain the leading player in the global drug device combination market over the forecast period, with the U.S. emerging as the leading country-level market. The growing drug device combination market in North America is mainly fed by the growing awareness about the efficacy of drug device combinations in the region. Drug device combinations are used when either is not effective enough, or when a combination presents the best chance of recovery. The highly advanced healthcare sector in North America has made note of the fact that some diseases, such as tachycardia and coronary issues, are best managed with a drug device combination. This is likely to remain the major driver for the drug device combination market in North America over the forecast period.

The growing prevalence of tachycardia and coronary issues in North America is likely to remain a key driver for the drug device combination market in the region over the forecast period. Rising consumption of junk food and increasing prevalence of sedentary lifestyles have driven the prevalence of cardiac issues in North America. The increasing healthcare expenditure in the region means that companies and major players are free to explore all possible options before settling on the best one. This has led to the creation of a strong research sector in the region, which has driven successful initiation of a number of drug therapies as well as devices into the healthcare sector in recent years. This is likely to remain a major driver for the North America drug device combination market over the forecast period.

Europe also holds a major place in the global drug device combination market and is likely to extend its position as one of the leading regional markets in the coming years thanks to the growing innovation in the healthcare industry in the region. Drug device combinations are likely to witness increasing demand in Europe in the coming years as the result of the increasing awareness of their efficacy in treating certain difficult conditions.

Asia Pacific is predicted to have the highest growth rate in the global drug device combination market over the forecast period from 2017 to 2023.

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