Drug Device Combination – a High Growth Market
Online PR News – 25-August-2009 – – Drug-device combination is defined as the combination of drugs and medical devices that can be chemically or physically united or co-packaged as separate, cross labeled products. The commercialization cycle from R&D to product shows the immense potential of the bundled offering. Currently, the market has a potential of US$10.6 billion and has been experiencing a growth of 15% CAGR for the past two years. In the next five years, the market is expected to grow at a CAGR of 11.8%. A future view of the drug-device combination is that these products will make single component medical devices obsolete.
The drug-eluting stents (DES) market is the largest segment in the drug-device combination market. This is supported by the fact that cardiovascular applications constitute about 64% of the entire drug-device combination applications market. However, it is the relatively smaller market of antimicrobial catheter that offers the highest growth potential over the next five years in the overall market.
The DES market is further segmented into stent grafts, coronary stents and peripheral vascular stents. Though coronary stents has the highest market share, peripheral vascular stents is expected to have the highest growth rate till 2014. The fastest growing macro-market of antimicrobial catheter is segmented into micro-markets such as urological catheter, cardiovascular catheter, peripherally inserted central catheter, oximetry catheter, thermodilution catheter and wound drainage catheter. Closed loop glucose monitor and insulin pump is also expected to record a high growth rate for the period 2009 to 2014. The two major segments: steroid eluting electrodes and photodynamic therapy are estimated to see the slowest growth rate due to a slow development of new products in these markets.
The challenges crippling the growth of the market in the future are expected to be the issues involved in cross industry partnerships, jurisdiction issues, patient safety and interoperability issues.
The drug-device combination market is not fragmented and the key players in this market are Medtronic, Boston Scientific Corp., Edwards Life sciences Corp., Stryker Corp., QLT Inc. etc. The maximum number of new product developments is expected to take place in the bone graft substitutes, advanced wound care products and antimicrobial catheter markets. Our patent analysis indicates that E.U. has filed for the maximum number of patents followed by the U.S.
There is an immense scope of collaboration between the drugs and medical devices companies in the areas of closed loop glucose monitor and insulin pump, bone graft substitutes and advanced wound care products market. However, the antibiotic bone cements and advanced wound care market is expected to face stiff competition in the next five years to come.
The incremental benefits of these combination products over the regular medical devices are increased efficiency, reduction in overall cost of treatment along with the rising awareness. The market holds significant opportunity for the early movers albeit with extensive research to develop new and improved products at competitive prices. Successful strategic alliances between companies from the drugs and medical devices areas assist them in taking advantage of the existing technologies by avoiding capital expenditure in R&D and take the drug-device combination market to new heights.
What makes our reports unique?
We provide the longest market segmentation chain in this industry- not many reports provide market breakdown upto level 5.
Each report is about 250 pages with 100+ market data tables, 40 competitive company profiles, analysis of 300 patents and minimum 50 micro markets, which are collectively exhaustive and mutually exclusive.
No single report by any other publisher provides market data for all the segments viz products, services, applications, ingredients, technology, and stakeholders in a single report for all the four geographies - US, Europe, APAC, ROW.
We provide 10% customization- normally it is seen that clients do not find specific market intelligence that they are looking for. Our customization Our customization will ensure that you necessarily get the market intelligence you are looking for and we get a loyal customer.
15 pages of high level analysis including benchmarking strategies, best practices and the market?s cash cows (BCG matrix). We conduct detailed market positioning, product positioning and competitive positioning. Entry strategies, gaps and opportunities are identified for all the stakeholders.
Comprehensive market analysis for pharmaceutical and biotech companies, medical device manufacturers, pharma-research labs, doctors, physicians and hospitals, medical/pharma associations, retailers and super-retailers, technology providers, and research and development (R&D) companies.
Key questions answered
Which are the high-growth segments/cash cows and how is the market segmented in terms of applications, products, services, ingredients, technologies, stakeholders?
What are market estimates and forecasts; which markets are doing well and which are not?
Where are the gaps and opportunities; what is driving the market?
Which are the key playing fields? Which are the winning edge imperatives?
How is the competitive outlook; who are the main players in each of the segments; what are the key selling products; what are their strategic directives, operational strengths and product pipelines? Who is doing what?
Powerful Research and analysis
The analysts working with MarketsandMarkets come from renowned publishers and market research firms globally adding their expertise and domain understanding. We get the facts from over 22,000 news and information sources, a huge database of key industry participants and draw on our relationships with more than 900 market research companies across the world. We, at MarketsandMarkets, are inspired to help our clients grow by providing qualitative business insights with our huge market intelligence repository.
For more information, please visit :
Or email us at email@example.com or call +919272852585