Rising Demand for Minimally Invasive Surgeries to Augment Growth of Drug Device Combination Products Market

Published By : 17 Aug 2016 | Published By : QYRESEARCH

Drug device combination products include a medical device, an active pharmaceutical component, and two regulated components, which are chemically or physically combined together to design a single product. In the last few years, the combination products have been developed as innovative and advanced medical products, thanks to their participation in developing and improving medical care across the globe. 

As per the records provided by FDA, the combination products denote to a product comprising two or more regulated components, including:

  • Biologic/Device
  • Drug/Device
  • Drug/Device/Biologic
  • Drug/Biologic

The increasing geriatric population across the globe and rising prevalence of several diseases are some of the prominent factors that are estimated to augment the growth of the drug device combination products market in the coming few years. In addition, the increasing number of initiatives taken by governments and NGOs around the globe are estimated to boost the demand for drug device combination products in the near future.

The rising demand for minimally invasive surgeries, drug delivery implants, and the increasing number of interventional cardiologists are estimated to encourage the growth of the market in the next few years. On the other hand, product recalls due to the rising side effects are anticipated to curtail the growth of the global market for drug device combination products in the coming few years.

The scenario of the drug device combination products market is expected to become extremely competitive, owing to the rising number of players participating in the market. These players are making efforts to offer innovative products to the consumers in order to sustain in the market and to gain the competitive advantage in the market in the next few years. In addition, identifying the profit margins and potential opportunities several other players are estimated to enter the market in the coming few years.

Some of the key players engaged in the global market for drug device combination products are Covidien PLC, Alcon, Inc., Medline Industries, Inc., Ethicon, Inc., W.L. Gore & Associates, Inc., Abbott Laboratories, Pinnacle Biologics, Inc., Boston Scientific Corporation, Terumo Corporation, Stryker Corporation, Medtronic, Inc., Arrow International, Inc., CareFusion Corporation, C.R. Bard, Inc., Allergan, Inc., and Mylan, Inc.

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