Australia Drug Device Combination Products Market Size & Outlook
Australia drug device combination products market, 2018-2030 (US$M)
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Australia drug device combination products market highlights
- The Australia drug device combination products market generated a revenue of USD 3,714.2 million in 2023 and is expected to reach USD 6,596.3 million by 2030.
- The Australia market is expected to grow at a CAGR of 8.6% from 2024 to 2030.
- In terms of segment, transdermal patches was the largest revenue generating product in 2023.
- Drug Eluting Stents is the most lucrative product segment registering the fastest growth during the forecast period.
Drug device combination products market data book summary
| Market revenue in 2023 | USD 3,714.2 million |
| Market revenue in 2030 | USD 6,596.3 million |
| Growth rate | 8.6% (CAGR from 2023 to 2030) |
| Largest segment | Transdermal patches |
| Fastest growing segment | Drug Eluting Stents |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Photodynamic Therapy Devices, Transdermal Patches, Wound Care Products, Infusion Pumps, Orthopedic Combination Products, Drug Eluting Stents, Inhalers, Antimicrobial Catheters |
| Key market players worldwide | Abbott Laboratories, Terumo Corp, Stryker Corp, Viatris Inc, Medtronic PLC, Boston Scientific Corp, Novartis AG ADR, Becton Dickinson & Co, Teleflex Inc, W L Gore & Associates |
Other key industry trends
- In terms of revenue, Australia accounted for 2.7% of the global drug device combination products market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China drug device combination products market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 16,994.4 million by 2030.
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Drug Device Combination Products Market Scope
Drug Device Combination Products Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia drug device combination products market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to drug device combination products market will help companies and investors design strategic landscapes.
Transdermal patches was the largest segment with a revenue share of 23.34% in 2023. Horizon Databook has segmented the Australia drug device combination products market based on photodynamic therapy devices, transdermal patches, wound care products, infusion pumps, orthopedic combination products, drug eluting stents, inhalers, antimicrobial catheters covering the revenue growth of each sub-segment from 2018 to 2030.
The drug device combination products market in Australia is expected to witness considerable growth over the forecast period. This can be attributed to improvements in cutting-edge technology, a larger patient base, and weak regulatory standards. In addition, the growing prevalence of chronic diseases and rapidly aging population are other key factors expected to drive market expansion.
Furthermore, the Australian Institute of Health & Welfare recorded 49,000 cancer-related deaths and 151,000 new cancer cases in 2021. According to the Australian Institutes of Health & Welfare 2022 report, about 401,300 Australians were diagnosed with dementia in 2022, with Alzheimer’s disease accounting for up to 70% of verified cases.
Alzheimer’s disease is the most common type of dementia in Australia. As a result, it is estimated that the market will experience increased demand for drug-device combination products during the forecast period.
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Our clientele includes a mix of drug device combination products market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia drug device combination products market , including forecasts for subscribers. This country databook contains high-level insights into Australia drug device combination products market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia drug device combination products market size, by product, 2018-2030 (US$M)
Australia Drug Device Combination Products Market Outlook Share, 2023 & 2030 (US$M)
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