The drug-device combination market continues to thrive, fueled by technological advancements and medical research. This synergy between pharmaceuticals and devices offers multifaceted benefits, revolutionizing treatment approaches across various medical domains. These innovative combinations enhance therapeutic efficacy, minimize side effects, and improve patient compliance. In addition, they facilitate targeted delivery, personalized medicine, and streamlined healthcare practices. Through continuous research and development, stakeholders capitalize on emerging technologies to address unmet medical needs, ensuring safer, more efficient, and cost-effective treatment modalities. As the market evolves, its impact extends beyond traditional boundaries, shaping the future of healthcare delivery.
Data Bridge Market Research analyses that the Global Drug-Device Combination Market size was valued at USD 15,633.36 million in 2023, is expected to reach USD 34,002.04 million by 2031, and is expected to undergo a CAGR of 10.2% during the forecast period 2024 to 2031.
Below are the Top Five Drug-Device Combination with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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Janssen Pharmaceuticals, Inc.
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Janssen Pharmaceuticals, Inc., a subsidiary of Johnson & Johnson, specializes in developing innovative pharmaceutical products. Janssen focuses on integrating its drug therapies with advanced delivery systems in the drug-device combination market. Their commitment to research and development drives the creation of novel drug-device combinations to address unmet medical needs.
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America, Middle East and Africa, Europe, and Asia-Pacific
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In October, Simponi (Golimumab) received European Approval as a once-monthly subcutaneous anti-TNF for the treatment of rheumatoid arthritis, psoriatic arthritis, and ankylosing spondylitis with a novel Smartject autoinjector. This has strengthened the company’s footprint in Europe and boosted the market growth.
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2.
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Amgen Inc.
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Amgen Inc. is a leading biotechnology company dedicated to advancing the treatment of serious illnesses. Within the drug-device combination market, Amgen leverages its expertise in biologics to develop innovative therapies paired with advanced delivery devices. Their focus on patient-centric solutions drives them to create effective and convenient treatment options.
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North America, and Rest of the world
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In January, Amgen Inc. announced a successful strategic collaboration with BeiGene. This collaboration is predicted to enhance the company’s footprint in China's oncology market in the coming years.
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3.
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GSK plc.
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GSK plc. is a global healthcare company with a strong presence in pharmaceuticals, vaccines, and consumer healthcare products. In the drug-device combination market, GSK integrates its pharmaceutical expertise with cutting-edge delivery technologies to enhance patient outcomes. Their commitment to innovation and collaboration drives the development of novel therapies that address complex medical needs.
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Middle East and Africa, Europe, North America, South America, and Asia-Pacific
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In October, Glaxosmithkline Plc announced that the European Medicines Agency (EMA) had accepted regulatory submissions seeking approval for the use of anti-IL5 biologic Nucala (mepolizumab) in three additional conditions: hypereosinophilic syndrome (HES), chronic rhinosinusitis with nasal polyps (CRSwNP) and eosinophilic granulomatosis with polyangiitis (EGPA). This has increased the company’s revenue, thereby attracting more customers towards their company.
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4.
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BD
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BD (Becton, Dickinson, and Company) is a leading medical technology company specializing in healthcare solutions. Within the drug-device combination market, BD focuses on developing advanced drug delivery systems that improve patient adherence and outcomes. Their comprehensive portfolio of products includes innovative devices designed to enhance the administration and effectiveness of pharmaceutical therapies.
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Europe, Middle East and Africa, North America, South America, and Asia-Pacific
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In May, BD will build a Euro 165 million (USD 200 million) high-tech manufacturing facility in Zaragoza, in the Aragon region of Spain. This is the fourth plant in Spain. Drug delivery devices will be manufactured, adding needed support to major vaccination campaigns and increasing the market's growth.
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5.
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Medtronic
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Medtronic is a global leader in medical technology, focusing on improving healthcare outcomes through innovative therapies. In the drug-device combination market, Medtronic develops advanced implantable devices and drug-delivery systems to treat various chronic conditions. Their commitment to patient-centric solutions drives their efforts to create integrated therapies that improve quality of life.
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America, Middle East and Africa, Europe, Asia-Pacific
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In September, Medtronic (Ireland), a Medical equipment company, became the first company to open a new development center in Israel through the Israel Innovation Authority. This center received a grant of USD 14 million grants from the innovation authority for hiring 100 extra employees at their new development centre.
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Conclusion
In conclusion, the drug-device combination market presents a promising landscape driven by increasing demand for innovative therapeutic solutions. Advancements in technology and regulatory frameworks are key drivers facilitating market growth. Opportunities abound for companies to capitalize on the synergy between pharmaceuticals and medical devices, offering enhanced treatment outcomes and patient convenience. With continued research, development, and strategic partnerships, the drug-device combination market is poised for significant expansion and impact in healthcare.
