Europe Drug-Device Combination Market – Industry Trends and Forecast to 2028

Europe 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 (U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey and Rest Of Europe) Industry Trends and Forecast To 2028.

Market Analysis and Insights: Europe 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 9.7% in the forecast period of 2021 to 2028 and is expected to reach USD 6,359.42 million by 2028 from USD 3,142.68 million in 2020. The presence of advance and developed healthcare systems act as the major drivers which boost the demand for the drug-device combination products in the forecast period.

The increase in the 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 drug-device market. The partnerships and collaborations by major market players act as an opportunity for the growth of the drug-device combination market.  However, strict regulatory framework acts as 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, analyses 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.   

Europe Drug-Device Combination Market - Scope and Market Size

The drug-device combination market is segmented on the basis of product, application, end user, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• 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. Auto-injector is further sub-segmented into wearable auto-injector, hand-held auto-injector. In 2021, the auto-injector is expected to dominate the drug-device combination market as a rise in the adoption of home care settings and self-administration medication.
• 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, the orthopedic is expected to dominate the drug-device combination market due to an increase in the geriatric population and government funding in drug-device combination products, accelerating market growth.
• 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 as patients need experts for personalized care and management of chronic diseases.
• On the basis of distribution channel, the drug-device combination market is segmented into direct tender, retail sales, and others. In 2021, the direct tender is expected to dominate the drug-device combination market due to direct interaction with end users, which enhanced accessibility, affordability, and availability.

 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 combination market report are the U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Turkey, Belgium and rest of Europe.   

Europe is expected to grow with a significant growth rate in the forecast period of 2021 to 2028 due to high technology-based healthcare infrastructure and increasing healthcare expenditure in the region. Germany is dominating the European market with the increasing advancement in the drug-device combination industry in the region.

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 European 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.  

Increasing Collaboration by the Player for Advanced Drug-Device Combination is Creating New Opportunities for players in the drug-device combination market    

The drug-device combination market also provides you with a detailed market analysis for every country's growth in a particular market. Additionally, it provides detailed information regarding the market players’ strategy and their geographical presence. The data is available for the historical 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 report are Medtronic, Zimmer Biomet, Amgen Inc., B.D., Findair Sp. z o. o., MetP Pharma AG, SONCEBOZ, Eitan Medical,  Vaxess Technologies Inc., Subcuject Aps, GlaxoSmithKline plc, Bayer AG, Sensirion AG Switzerland, Janssen Pharmaceuticals, Inc.(a subsidiary of Johnson & Johnson Sevices, Inc.), Insulet Corporation, TheraJect, Otsuka America Pharmaceutical, Inc., among other domestic and Europe players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

Many contracts and agreements are initiated by companies worldwide, which are also accelerating the drug-device combination market.

For instance,

• In July 2020, Eitan Medical’s Sorrel Medical entered into a strategic partnership with pharmaceutical companies to advance the development and introduction of next-generation wearable drug delivery solutions. This augmented the growth and innovation capabilities of the firm.
• In August 2020, Vaxess Technologies Inc. announced a contract with Biomedical Advanced Research and Development Authority (BARDA) to evaluate alternative vaccination technologies. This increased recognition of their innovative platforms like MIMIX can enable a better response to future pandemics and will boost the market.

Collaboration, joint ventures, and other strategies by the market players are enhancing the company's footprints in the drug-device combination market which provides the benefit for organization growth pace.