Tuesday, 8 August 2017

Drug Device Combination Market Analysis- Products, Application - Forecast Report To 2025

Drug device combination is combining two or more different types of products including medical devices, biologics and drugs. With drug device combination products there is an increase in overall efficacy and percentage of patients who respond. The efficacy depends upon the pharmacodynamics and pharmacokinetic properties of the drug used in combination. There are different types of drug device combination products. In case of infusion pumps, fluids such as nutrients and medications are administered into a patient’s body in controlled amounts. Next drug device combination product is inhaler which helps in administering drug to a patient via lungs. Further, transdermal patch is an adhesive pad which is placed on skin to administer a time released dose of medication directly into the bloodstream via skin. In case of drug eluting stents such as urethral stents, the stent is coated with medicines such as heparin which is an anti-coagulating agent. This stent maintains the urinary flow from the kidney to the bladder while avoiding coagulation. Another drug device combination product is orthopedic drug combination product such as antibiotic bone cement which is used for treating infected joint arthroplasties. Next combination product is drug device combination, in which duration of action of a drug and intensity is increased. It reduces the dosage frequency and improves patient compliance. Wound care products are used in managing wounds. In case of photodynamic therapy devices, a photosensitizer and a type of light is used to treat tumors on the skin.
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The major factor driving the growth of drug devices market is increase in the prevalence of chronic diseases. According to European Academy of Allergy and Clinical Immunology (EAACI), in 2013, around 300 million people were suffering from asthma and the number is expected to increase by 100 million by 2025. In terms of global years lived with disability, the Global Asthma Network states that asthma is the 14th most important medical condition worldwide. Further, it also states that, asthmatic symptoms are experienced by 14% of the total children population across the world. Additionally, increase in the adoption of point of care treatments will also boost this market. Moreover, increase in the geriatric population will also drive this market. For instance, according to WHO, in 2015, 900 million people were 60 years of age or older and the number is expected to reach up to 2 billion by 2050.
The key strategy followed by the major players in the drug device combination market is product launch to gain competitive advantage and more market share. For instance, in 2016, AstraZeneca’s Bevespi Aerosphere was approved by the FDA for patients with COPD. It is a metered dose inhaler which contains combination of two drugs, namely, glycopyrrolate and formoterol fumarate. With the launch of this drug AstraZeneca will gain competitive advantage and more share in the market.
The major players in the drug device market are Medtronic, Terumo Corporation, W. L. Gore & Associates, Inc., C.R. Bard, Inc., Johnson & Johnson Private Limited, Stryker Corporation, Medline, Medtronic, Mylan Inc., and, Becton, Dickinson and Company, and Pinnacle Biologics.
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