subject: Drug And Device Combination (2009 - 2014) [print this page] Drug Device Combination a High Growth Market
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.
