Drug-Device Combination Products Market Report, Growth Analysis 2021: Impact of COVID-19

A comprehensive overview of the Drug-Device Combination Products market is recently added by UnivDatos Market Insights to its humongous database. The Drug-Device Combination Products market report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the drug-device combination products market. The Drug-Device Combination Products Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the drug-device combination products market at the global and regional levels. The Global Drug-Device Combination Products Market is expected to grow significantly by 2027.

Market Overview

The increasing demand for portable medical devices has stimulated the demand for technologically advanced drug-device combination products. These devices are used in patients who are suffering from chronic diseases such as cancer, diabetes, cardiovascular diseases etc. For instance, in February 2020, the BD (Becton, Dickinson, and Company), a leading global medical technology company, announced their completion of a 50-subject human clinical trial with the “BD Libertas Wearable Injector”. Moreover, the surge in the home-based care service is also driving the market growth. According to one of the top global data bases, health tech has seen strong investment growth in 2019, claiming a record USD 7.8 billion for virtual care investment. For instance, “Amwell” a healthcare firm, accounted for considerable funding, raised almost US$ 500 million in 2020, from investors including Allianz X and Philips. Homebased healthcare provides faster care to the patients and helps them to avoid hospitals.

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COVID-19 Impact

During the COVID-19 pandemic, majority of the pharma company have experienced huge losses due to the suspension of clinical trials. Also, in the short term, the pandemic has created an immediate need to address active supply chain disruptions. For instance, according to the Jabil survey 2020, across seven industries and the 715-supply chain decision-makers, all have suffered huge financials losses due to supply chain disruption. The hardest hit is the retail and healthcare sectors. Healthcare sector experienced the highest percentage of respondents who stated their companies have experienced negative financial impact greater than US$ 500 million from March to August in 2020.

Global Drug-Device Combination Products Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Product, the market is primarily bifurcated into:

• Drug-eluting stent
• Infusion pump
• Photosensitizers
• Prefilled syringe
• Wound care Combination Products
• Orthopaedic Combination Products
• Drug-eluting balloon
• Inhalers
• Transdermal delivery system
• Others

The Transdermal delivery system segment generated the highest revenue in 2020 and the market is expected to grow at a significant rate during the forecast period.

By Application, the market is primarily bifurcated into:

• Cardiovascular disease
• Diabetes
• Respiratory problem
• Cancer treatment
• Antimicrobial application
• Others

The Cardiovascular disease segment accounted for the major revenue portion in 2020 and the sector is anticipated to observe lucrative growth in the upcoming years.

By Distribution Channel, the market is primarily bifurcated into:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

The Retail Pharmacies segment accounted for the major revenue portion in 2020. The sector is anticipated to observe considerable growth in the upcoming years.

By End-user, the market is primarily bifurcated into:

• Hospital & Clinic
• Ambulatory Surgery Centre
• Home Care Setting
• Others

The Hospital & Clinic segment is anticipated to observe lucrative growth in 2020.

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Drug-Device Combination Products market Geographical Segmentation Includes:

• North America (US, Canada, and Rest of North America)
• Europe (Germany, UK, Italy, France, Spain, and Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
• Rest of the World

Based on the estimation, North America constitutes a major market for the drug-device combination products industry and generated maximum revenue in 2020 owing to the presence of major companies and healthcare infrastructure with the highest rate of chronic diseases across the world.

The major players targeting the market includes

• Medtronic PLC
• Abbott Laboratories
• Smith & Nephew plc
• Boston Scientific Corporation
• GlaxoSmithKline plc
• Becton Dickinson and Company
• Johnson & Johnson
• Novartis AG
• Bayer AG
• Baxter International, Inc.

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the ventricular assist devices market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the drug-device combination products market?
• Which factors are influencing the ventricular assist dev drug-device combination products market over the forecast period?
• What are the global challenges, threats, and risks in the drug-device combination products market?
• Which factors are propelling and restraining the drug-device combination products market?
• What are the demanding global regions of the drug-device combination products market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

Final Report will add the analysis of the impact of COVID-19 on this industry.”

In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

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A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?

• The market report presents the estimated market size of drug-device combination products market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
• The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
• The various parameters accelerating the growth of Market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

• Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
• The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
• The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
• Based on what factors are the key market players assessed in this report?
• The report offers detailed analys