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Combination products was first defined in the U.S. Federal Food, Drug, and Cosmetic Act, twenty eight years ago. Combination product drug delivery includes combination of a biologic or drug with any drug delivery system. Combination product drug delivery is used for either augmenting the device’s efficacy, for delivering a drug locally, or for providing safety with the use of drug coating. Combination product drug delivery systems are majorly used to treat conditions rather than to cure them.
Combination product drug delivery systems offer improved performance, increase efficiency, and convenience. These combination product drug delivery devices enable the use of therapy candidates that are not capable of being used alone because of toxicities and systemic effects. Combination product technology also enables more effective and safer technologies due to precise and careful local administration, drug targeting, and individualized therapy.
Combination product drug delivery technologies have paved the way for combination products that will help the population suffering from cardiovascular diseases, cancer, multiple sclerosis, spinal-cord injuries, cerebral palsy, anemia, rheumatoid arthritis, hepatitis, diabetes, other serious conditions and diseases.
Constant increase in incidence of diseases like cancer, cardiovascular diseases and other lifestyle-related diseases is one of the major factors that is attributed for the growth of combination product drug delivery market during the forecast period.
Rise in combination product drug delivery market manufacturer investments in R&D for the development of different combination product drug delivery systems and increase in government support and funding for these systems is also expected to contribute to the combination product drug delivery market over the forecast period.
However, stringent regulatory scenario regarding combination product drug delivery systems, high costs associated with these systems and lack of awareness across region is expected to restrain market growth for combination product drug delivery during the forecast period.
North America market for combination product drug delivery is expected to grow at a significant rate, owing it to the high prevalence rates of cancer, cardiovascular diseases, and other neurology disorders. Increase in the healthcare expenditure in the region is also expected to be one of the main factors boosting demand for combination product drug delivery in the region.
Other regions like Europe and Asia-Pacific, also have high incidence rates for lifestyle-related disorder and there is a consistent increase in government support for funding related to the R&D for combination product drug delivery, which is further projected to fuel the market growth for combination product drug delivery in the region.
Combination product drug delivery market for low economy regions like Middle East & Africa is expected to grow at a decent growth rate during the forecast period.
Some of the market participants in the Global Combination product drug delivery market identified across the value chain include: AbbVie Inc., BASF SE, BD, Baxter, ABITEC, CordenPharma International, Lonza, Drug Delivery Experts, LLC, Ligand Pharmaceuticals Incorporated, Pfizer, Bioduro, and ProMed Molded Products.
