Drug device combination products: Key market research findings
- Introduction of bioabsorbable stents
- Growing demand for drug-eluting stents
Technavio has added a new market research report on the global drug device combination products market, to its drug delivery portfolio. The global drug device combination products market is expected to grow at a CAGR of 11% between 2015 and 2019, owing to its high revenue generating capacity across the healthcare sector and its ability to optimize product life cycles. The Americas is the highest revenue contributor to this market, accounting for around 42% of the total market revenue. Factors like the rising aging population and the introduction of favorable healthcare reforms aid in promoting the prospects for growth in this region during the forecast period.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The introduction of bioabsorbable stents has increased the utilization of stents in coronary artery disease treatment. These biodegradable stents eliminate the negative issues of durable polymer stents, which encourages patients to undergo stent implantation surgery. The bioabsorbable drug-eluting stent offers various clinical benefits as compared to drug-eluting stents. Variosu key players like Abbott and Boston Scientific are expected to launch bioabsorbable drug-eluting stents over the next four years,” Imran Mushtaq, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
Technavio analysts estimate the drug-eluting stents segment to account for more than 36% of the total market share by 2019. The rising prevalence of cardiovascular diseases and the recent rise in demand for minimally invasive surgical procedures are the two major factors that promote growth in this segment during the forecast period.
The key players in the global drug device combination products market include Abbott Laboratories, Becton, Dickinson and Company, Boston Scientific, Medtronic, and Roche Diagnostics. This market is estimated to offer tremendous growth opportunities to the vendors during the forecast period. Vendors that have the ability to efficiently manufacture and offer a wide variety of drug-device combination products, such as infusion pumps, insulin injections, and drug-eluting stents, are expected to gain a competitive edge over their rivals.
A more detailed analysis is available in the Technavio report, Global Drug Device Combination Products Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
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