Big growth for drug/device combinations
The global drug/device combination products market is expected to witness significant growth in the years to come owing to factors like rising demand for minimally invasive surgeries, NGO and government initiatives for promoting drug delivery implants, and increasing number of interventional cardiologists. However, a major growth restraint in this market is that of product recalls, due to adverse side effects to patients.
From a regional perspective, the market is dominated by North America in revenue terms. However, owing to rising incidence of diabetes, obesity, and cardiovascular diseases, the most lucrative market in the entire drug device combination products market is the Asia Pacific.
The global drug device combination products market is primarily driven by factors like rising incidence of cardiovascular diseases, pain causing anomalies, colorectal cancer, diabetic retinopathy, asthma, prostate cancer, the problem of obesity, and a rapidly growing geriatric population.
The global drug device combination products market can be segmented on the basis of its various types.
The sector is classified into infusion pumps, drug eluting stents, orthopeadic combination products, photosensitisers, inhalers, wound care combination products, transdermal patches, and other drug device combination products. Peripheral vascular stents and coronary stents are the two sub categories under the drug eluting stents category. Meanwhile infusion pumps are defined as either ambulatory infusion pumps or implantable infusion pumps. Orthopedic combination products include bone graft implants and antibiotic bone cement. Inhalers are classified as dry powder inhalers, nebulisers, and metered dose inhalers.
Other drug device combination products include drug eluting beads and intraocular implants. Newer technologies like implants with drugs that promote lesser morbidity, pain relief, and faster healing are expected to drive the global drug device combination products market in the forthcoming years.