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About Drug / Device Combination Products & ASEAN Markets


Many of today’s most innovative medical devices are actually drug/device combination products that generally include a medical device part and a drug part.


The growth of global drug device combination products market is attributed to the growing incidence of chronic diseases such as prostate cancer, cardiovascular diseases, colorectal cancer, diabetic neuropathy; increasing concerns related to obesity and diabetes; and growing geriatric population.


As per a recent BCC Research Study, the overall global market for Drug-Device Combinations is growing at a compound annual growth rate (CAGR) of 7.1% from 2014 to 2019, and thus sales are projected to reach $31 billion in 2019.


Western- type diseases have become increasingly prevalent in Asia. Increased lifespans and growing incomes have led many to adopt Western habits such as overeating, consuming fast food, smoking, and engaging in little exercise putting Asians at an increasingly higher risk for lifestyle diseases. In particular, the growth rates of diabetes, orthopedic problems, cardiovascular disease, and cancer are rising quickly. Western device manufacturers already make products to diagnose and treat these diseases. Hence, the ASEAN nations are attractive markets for Western device firms.


Although ASEAN countries have traditionally been known for low-end medical device product manufacturing, such as simple catheters and drainage bags, this is no longer the case. Some manufacturers in ASEAN countries are now able to produce more sophisticated Class II and, in some cases, Class III medical devices.


Besides selling their device products in ASEAN countries, an increasing number of Western medical device companies are also manufacturing or sourcing their products there.


They are doing so for a variety of reasons, including Asia’s low overhead costs, low labor costs, and improving technical capabilities. While labor costs have increased significantly in China, they remain low in some of the ASEAN countries, including Vietnam.


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