Eli Lilly and Company received approval from the US Food and Drug Administration (FDA) for Omvoh (mirikizumab-mrkz) for the treatment of moderately to severely active Crohn’s disease in adults.
The global Drug Device Combination Products Market, valued at US$224.70 billion in 2024, is forecasted to grow at a robust CAGR of 9.3%, reaching US$243.02 billion in 2025 and an impressive US$379.17 billion by 2030. The increasing prevalence of chronic diseases worldwide, coupled with the introduction and approval of innovative advanced therapeutics, is driving significant market expansion.
The trend towards advanced drug-device combination products is gaining momentum, influenced by the rising demand for self-administration solutions in home healthcare environments. This shift toward home-based care is largely attributed to the aging population, which has led to a larger demographic of patients managing conditions such as diabetes, obesity, and cancer.
Furthermore, favourable reimbursement policies and enhanced healthcare infrastructure are facilitating improved access to these combination products. As a result, sustained growth is anticipated in this market segment over the forthcoming years.
Download PDF Brochure: http://www.marketsandmarkets.com/pdfdown…uctsmarket
By Based on product type, the market for drug-device combination products can be categorized primarily by product type into injectable drug delivery devices, drug-eluting stents, inhalers, infusion pumps, transdermal patches, drug-eluting balloon catheters, and other product types. Among these, injectable drug delivery devices hold the predominant market share, attributed to their rapid, precise, and efficient medication administration, which is critical for the management of chronic conditions such as diabetes, cancer, and autoimmune diseases.
The user-friendly nature of these devices, exemplified by options such as prefilled syringes and autoinjectors, significantly enhances patient compliance through streamlined self-administration. Furthermore, injectables play an essential role in the delivery of biological therapies, which are often incompatible with oral administration due to low bioavailability.
The escalating prevalence of chronic diseases coupled with ongoing advancements in injectable technologies further cements their leadership position in the market.
By end user, the drug-device combination products market is categorized based on end-users into several segments: hospitals & clinics, ambulatory surgery centers, long-term care facilities, home care settings, and other users. In 2024, the home care segment accounted for the highest CAGR during the forecast period due to the escalating incidence of chronic conditions, demographic shifts with an aging population, the increasing feasibility of self-administration, technological advancements, and favourable reimbursement policies.
The adoption of drug-device combination products is rapidly growing in home care settings, and it is expected to dominate the market by 2024. This growth is fueled by an increase in chronic diseases requiring ongoing management, an aging population needing accessible healthcare solutions, and advancements in technology that enhance product usability.
Self-administration devices now offer features such as real-time monitoring and automated dosing to improve treatment adherence. Additionally, favorable reimbursement policies are encouraging both manufacturers and patients to embrace these innovations.
Overall, the combination of rising chronic disease rates, demographic trends, technological progress, and supportive reimbursement is driving the uptake of these products in home care.
By geography, the drug-device combination products market is categorized by region into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America holds a significant share of this market, primarily driven by the growing geriatric population and the rising prevalence of chronic diseases.
Additionally, enhancements in healthcare infrastructure and the introduction of supportive government policies aimed at improving access to drug-device combination products are contributing factors. The geographical expansion and presence of key industry players in this region are likely to catalyze further growth in the North American drug-device combination market.
Request Sample Pages : http://www.marketsandmarkets.com/request…uctsmarket
As of 2024, the drug device combination products market was dominated by Abbott (US), Boston Scientific Corporation (US), Medtronic (Ireland), Becton, Dickinson and Company (US), Novartis AG (Switzerland), Novo Nordisk A/S (Denmark), Sanofi (France), Eli Lilly and Company (US), Merck KGaA (Germany), and AbbVie Inc. (US), among others.
ABBOTT (US):
Abbott is a prominent key player in the global drug device combination products market. Abbott’s Medical Devices segment delivers a combination of products, particularly in high-impact areas such as cardiovascular care and diabetes management; notable innovations include drug-eluting stents and drug-coated balloons, which exemplify the company’s cutting-edge approach.
The company maintains a leading market position due to its extensive product portfolio and robust geographic presence across North America, Europe, and globally. With manufacturing and R&D facilities spread across over 100 countries, Abbott’s products reach more than 160 countries worldwide.
The company’s strategy emphasizes driving innovation through substantial investments in R&D, diversifying its product offerings, and enhancing global market access. By strategically acquiring advanced technologies and focusing on enhancing its capabilities in medical devices and combination products, Abbott continues to position itself as a trailblazer in the industry.
ELI, LILLY AND COMPANY (US):
ELI, LILLY AND COMPANY is a key player and holds the second position in the global drug device combination products market. The company prioritizes R&D, maintaining a robust clinical-stage pipeline centered on biologics.
It manufactures, develops, and commercializes pharmaceuticals and combination drug-device products across multiple therapeutic areas. Specifically, the company provides bespoke injection systems tailored for pharmaceutical & biotechnology firms, particularly those operating in diabetes management, growth modulation, and additional therapeutic domains.
To enhance user experience in medication delivery, the company has launched innovative products. Notably, it was the pioneer in introducing the digital insulin pen, HumaPen.
The organization operates across 14 countries and distributes its products in 125 countries worldwide, with a strategic emphasis on expanding its market presence in emerging economies to drive sales growth.
MEDTRONIC (Ireland):
MEDTRONIC dominated the global drug device combination products market in 2024. Medtronic’s predominant market position is underpinned by its extensive portfolio of combination therapies, which includes advanced medical devices such as drug-eluting stents, implantable infusion pumps, and smart insulin pens.
The company boasts a robust global footprint, operating across key regions, including the US, Europe, and the Asia Pacific, and delivering solutions to clinicians, healthcare facilities, and patients in over 160 countries. R&D is a fundamental strategic pillar for Medtronic, with the company allocating approximately USD 2.84 billion to R&D in fiscal year 2024.
This investment underscores the importance of innovation in maintaining and enhancing Medtronic’s competitive edge, particularly in the dynamic combination products sector. Furthermore, the company actively engages in both organic growth initiatives and strategic acquisitions to reinforce its leadership and adaptability in an evolving market landscape.
For more information, Inquire Now!
News From
MarketsandMarkets™
Category: Industry Reports & Market Analysis Profile: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, w …
This email address is being protected from spambots. You need JavaScript enabled to view it.
For more information:
http://www.marketsandmarkets.com/Market-…40423.html http://www.prnewswire.com/news-re…53437.html http://www.marketsandmarkets.com/PressRe…oducts.asp http://www.marketsandmarkets.com/Market-…uctsmarket http://www.marketsandmarkets.com/pdfdown…uctsmarket http://www.marketsandmarkets.com/request…uctsmarket
