The Drug-Device Combination Market, By Product (Auto-Injector, Microneedle Patch, Digital Pill, Smart Inhaler, Drug Delivery Hydrogels, Drug-Eluting Lens and Others), Application Type (Orthopedic Diseases, Respiratory Diseases, Diabetes, Oncology, Cardiovascular Diseases, and Others), End User (Clinics, Hospitals, Home Care Settings, Ambulatory Care Centers and Others), Distribution Channel (Direct Tender, Retail Sales and Others), Country (China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines and Rest Of Asia-Pacific) Industry Trends and Forecast To 2028.
Market Analysis and Insights: Asia-Pacific Drug-Device Combination Market
The drug-device combination market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 9.3% in the forecast period of 2021 to 2028 and is expected to reach USD 3,332.81 million by 2028 from USD 1,703.67 million in 2020. Increasing chronic disease burden and growing demand for better drug-device combinations are the major drivers that drive the market demand in the forecast period.
The increasing prevalence of chronic diseases and advancement in technology effectively help the growth of the drug-device combination market. However, the limitations and complications associated with the medical devices may hamper the future growth of the medical devices market. Major market players' partnerships and collaborations act as an opportunity for the growth of the drug-device combination market. However, strict regulatory framework acts a challenge for the growth of the drug-device combination market.
The drug-device combination market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Drug-Device Combination Market Scope and Market Size
The drug-device combination market is categorized into four notable segments which are based on product, application, end user, and distribution channel.
- On the basis of product, the drug-device combination market is segmented into auto-injector, microneedle patch, digital pill, smart inhaler, drug delivery hydrogels, drug-eluting lens, and others. In 2021, auto-injector holds the highest share in the drug-device combination market as the rise in government support in developing healthcare products and raising general awareness about usage amongst the masses.
- On the basis of application, the drug-device combination market is segmented into orthopedic diseases, respiratory diseases, diabetes, oncology, cardiovascular diseases, and others. In 2021 orthopedic diseases dominate the drug-device combination market due to the growing demand for highly advanced and efficient drug-device combination products for treatment.
- On the basis of end user, the drug-device combination market is segmented into clinics, hospitals, home care settings, ambulatory care centers, and others. In 2021, the clinics are expected to dominate the drug-device combination market due to the increasing number of specialty clinics worldwide. Furthermore, the growing demand for various drug-delivery devices serves as another driving factor.
- On the basis of distribution channel, the drug-device combination market is segmented into direct tender, retail sales, and others. In 2021, direct tender is expected to dominate the drug-device combination market due to the increasing number of hospitals in developed and developing countries, which increases the sales of direct tender and escalates the growth of the market.
Asia-Pacific Drug-Device Combination Market Country Level Analysis
The drug-device combination market is analyzed, and market size information is provided by product, application, end user, and distribution channel.
The countries covered in the drug-device market report are China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, and Rest of Asia-Pacific.
Asia-Pacific is expected to grow with the fastest CAGR in the forecasted periods. In Asia-Pacific, countries that demand drug-device combination are increasing rapidly due to increasing population and healthcare expenditure. China is expected to dominate in Asia-Pacific market. China is one of the leading countries in the Asia-Pacific, which utilizes advanced drug-device combination products in the treatment and monitoring of disease.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Strategic Initiatives by Manufactures is Creating New Opportunities for Players in the Drug-Device Combination Market
Drug-device combination market also provides you with detailed market analysis for every country's growth. Moreover, it provides detailed data regarding growth in medical devices sales, partnership, acquisition, distribution agreement among the market players of Asia-Pacific region. The data is available for the historic period 2010 to 2019.
Competitive Landscape and Drug-Device Combination Market - Share Analysis
Drug-device combination market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the drug-device combination market.
The major players covered in the reports are Medtronic, GlaxoSmithKline plc, BD, Janssen Pharmaceuticals, Inc., Bayer AG, YPSOMED, CosMED Pharmaceutical Co. Ltd., Otsuka America Pharmaceutical,Inc, VAXXAS ,Raphas Co., Ltd., Zimmer Biomet, SONCEBOZ, CGbio, EOFLOW CO.,LTD, among others are domestic and Asia-Pacific players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contracts and product launches are also initiated by companies worldwide, accelerating the drug-device combination market.
For instance,
- In November 2020, YPSOMED collaborated with SCHOTT and Lonza to develop a comprehensive solution for wearable patch injectors and combination products based on subcutaneous self-injection. This helped a firm enter into clinical trials and marketed the products quicker, which boosted the market
- In June 2017, CosMED Pharmaceutical Co. Ltd. launched and started the sales of microneedle hair growers,”fa:sa”. This enhanced the growth of the firm in microneedle technology
Collaboration, joint ventures, and other strategies by the market player enhance the company's impression in the Medical devices market, which also benefits the organization to improve their sales growth.
