North America 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.S., Canada, Mexico) Industry Trends and Forecast To 2028.
Market Analysis and Insights: North America Drug-Device Combination Market
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 10.9% in the forecast period of 2021 to 2028 and is expected to reach USD 17,843.53 million by 2028 from USD 8,086.79 million in 2020. Increasing usage of drug-device combination products, growing incidence of COVID-19 are the major drivers which propelled the demand of the market in the forecast period.
The increasing prevalence of chronic disease advancement in technology effectively help the growth of the drug-device combination market. However, the limitations and complications associated with the Drug-Device combination may hamper the future development of medical devices market. The partnerships and collaborations by significant market players act as opportunities for the growth of the global 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.
North America Drug-Device Combination Market Scope and Market Size
Drug-device combination market is segmented on the basis of product, application, end user and distribution channel. The growth among segments helps you analyse 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, auto-injector holds highest share in the drug-device combination market as large number of patient pool suffering from chronic diseases.
- On the basis of application, the global 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 the growing number of surgeries. Moreover, an initiative by the government anticipated propelling the further market growth.
- On the basis of end users, 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 because most patients are suffering from chronic diseases, so they would be seen in the clinics to get proper regular check-ups, treatment and management. Moreover, due to COVID-19, most patients do not prefer to visit hospitals in fear of infection.
- 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 having complete control over the sales and revenue process as well as direct interaction with your customers. The segment is growing due to increasing number of hospitals in developed as well as developing countries.
Drug-Device Combination Market Country Level Analysis
The drug-device combination market is analysed, and market size information is provided by product, application type, end user, and distribution channel. The countries covered in the drug-device combination market report are the U.S., Canada, and Mexico.
North America is expected to dominate the market due to the high adoption of drug-device combination products by the patients in the region. U.S is dominating in the market and leading the growth in the North America market due to increased presence of key market players in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts 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, presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Collaborations and Partnerships in Drug-Device Combination Market 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 growth. Additionally, it provides data regarding collaborations and partnerships among the major market plyers and start-up companies. Moreover, the growing impact of research and development activities on drug-device combination market growth pace. The data is available for historic period 2010 to 2019
Competitive Landscape and Medical devices Market Share Analysis
Drug-Device combination market competitive landscape provides details by 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 drug-device combination market.
The major players covered in the report Mediprint, OcuMedic, Medtronic, GlaxoSmithKline Plc, BD, Janssen Pharmaceuticals, Inc. (a subsidiary of Johnson & Johnson Services, Inc.), Bayer AG, Micron Biomedical, Inc., Otsuka America Pharmaceutical, Inc., VAXXAS, Propeller Health, Raphas Co., Ltd., EOFLOW CO., LTD., Insulet Corporation, TheraJect, Zimmer Biomet, Amgen Inc., Eitan Medical among others domestic and North America players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Growing Collaboration, contract and agreement by key players accelerating the market growth.
For instance,
- In March 2021, Eitan Medical collaborated with Stevanato for bringing wearable injection solutions to market for the simple and efficient subcutaneous administration of large-volume and high viscosity medications that serve the interests of both patients and pharmaceutical companies. This would strengthen leadership and innovation capabilities globally.
- In April, EOFlow Co., Ltd. US Subsidiary Nephria got License on new "MXene" Nanomaterial from Drexel University. Nephria got exclusive rights and planned to develop wearable dialysis system, otherwise known as the wearable artificial kidney (WAK), starting with this technology transfer. This would accelerate the technologies in the new therapeutic areas and increases the growth of market.
- In January 2020, Amgen Inc. announced the successful strategic collaboration with BeiGene. It is predicted that this collaboration enhanced the company’s footprints in China oncology market in the coming years.
Partnerships, joint ventures and other strategies by the market player is enhancing the drug-device combination market growth which also provides the benefit for organisation to improve their offering for better consumer experience.
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