SAN FRANCISCO, June 13, 2018 /PRNewswire/ --
The global drug device combination product market size isexpected to reach USD 177.7 billion by 2024, according to a new report by Grand View Research, Inc., clocking in a 7.9% CAGR during the forecast period. Rising demand for minimally invasive techniques due to enhanced patient
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These devices facilitate early diagnosis and reduced treatment duration in a majority of surgical procedures. Growing demand is also a consequence of minimal pain, heightened cost efficiency, improved safety, better efficacy, rapid recovery, and reduced hospital stay rendered by these devices.
Increasing presence of regulatory healthcare authorities enforcing clearly defined protocols for premarket authorizations is anticipated to support manufacturers in gaining approvals for their products. Recently, the U.S. FDA incorporated the lean management process mapping approach to build a more cohesive, streamlined, systematic, and collaborative system for the review of the aforementioned products. Safety guidelines and recommendations issued by these authorities are presumed to increase the adoption of these products in future and boost overall growth during the forecast period.
Severe side effects and drug interactions associated with therapeutics owing to drug absorption by unintended sites in the body are anticipated to induce need for targeted therapy, thereby propelling demand for drug-device combinations. For instance, consistent administration of Levodopa results in long-term complications such as motor fluctuations, dyskinesias, severe metabolic changes, and neurotoxic effects. These aforementioned factors drive the clinical urgency to incorporate alternatives based on targeted therapy, as in case of drug-device combination products.
Browse full research report with TOC on "Drug Device Combination Products Market Size, Share & Trends Analysis Report By Product (Transdermal Patches, Infusion Pumps, Inhalers, Drug Eluting Stents, Antimicrobial Catheters), And Segment Forecasts, 2018 - 2024" at: https://www.grandviewresearch.com/industry-analysis/drug-device-combination-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global drug device combination product market on the basis of product type and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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SOURCE Grand View Research, Inc.
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