Expected to be valued at USD 4.98 billion in 2023, the Market For Pleural Diseases Therapeutics is estimated to register a compounded annual growth rate (CAGR) of 6.5% from 2023 to 2033. According to Future Market Insights, the market is expected to reach USD 9.4 billion by the end of the said forecast period.
The pleural effusions treatment market growth is expected to be driven by the increasing number of medical cases related to congestive heart failure, Pneumonia, lung cancer, and tuberculosis. For example, In Germany, the total number of pleural disease cases registered per year ranges from 4 to 5 million.
This is an indication of how prevalent the disease is and if left undiagnosed may result in death. Similarly, lung cancer is also a common disease around the globe which has been following a surging trend in the last few years. As per reports submitted by American Lung Association, in 2018, around 13.2% of the diagnosed cancer cases were related to lung cancer.
Moreover, 2.3 million new cases of lung cancer were registered in 2022, whereas the country suffered over 1.3 million deaths pertaining to lung cancer. Some of other reasons for the high prevalence of lung cancer include the increasing exposure to second-hand smoke, along with radon gas, asbestos, or other carcinogens.
These factors along with rising prevalence of congestive heart failure and other heart and lung conditions are driving growth of Pleural disease therapeutics market during the forecast period.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 4.98 billion |
| Anticipated Forecast Value (2033) | USD 9.4 billion |
| Projected Growth Rate (2023 to 2033) | CAGR 6.5% |
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The market for Pleural diseases therapeutics was worth USD 3.8 billion in 2018, while growing at a CAGR of 5.5% during the historical period.
Since pleural effusions are very common and can occur as a result of different main causes, the market is going through an increasing research trend on understanding the root causes and effective treatment for the medical condition. This will open up new avenues for market expansion of pleural disease treatment.
The European Respiratory Journal reported that malignant pleural effusions are more prevalent in patients suffering from neoplastic diseases. According to their report, from the total number of patients who died with malignancies, around 15% were detected with malignant effusions.
Moreover, the increasing interest of the healthcare sector in learning about the virus is anticipated to present various opportunities for market expansion. Similarly, growing rate of research and development initiatives will drive the market growth.
Also, rising ongoing clinical trials being carried out by many pharmaceuticals’ companies, increasing healthcare outcomes, and surging incidences of pleural effusion linked with other chronic conditions are some of the significant factors among others propelling pleural effusion drug market growth in the coming years.
Furthermore, increasing technological advancements and modernization in the healthcare devices and rising demand from emerging economies will further create new opportunities for the pleural effusion drug market in the forecast period of 2023 to 2033.
Growing Investments and Adoption of New Treatment Techniques to fuel Market Growth
The increasing number of people suffering from pleural effusions around the globe is expected to drive growth of pleural effusions treatment market. Rising need for effective procedures for the treatment and early diagnosis is going to augment market growth.
Furthermore, increase in number of acquisition strategies and company collaborations are expected to fuel market growth. Also, increasing prevalence of congestive heart failure, and other heart conditions, pneumonia, lung conditions, cancer, and tuberculosis, and increase in the number of research and development activities are further expected to augment market growth.
On the other hand, surging investments, rising healthcare expenditure, growing population, development in technology, and increasing awareness regarding treatment of Pleural effusion is expected to positively influence pleural disease treatment market.
Furthermore, growing demand for novel medication and increasing multidisciplinary interest in this field is anticipated to extend lucrative opportunities to the market players which will positively benefit the market.
Additionally, rising utilization of thoracic ultrasonography, pleurodesis agents, the intrapleural fibrinolytics, or the latest pleural drainages techniques for the treatment of Pleural diseases is projected to propel market growth.
Principal Consultant
A Dearth of Skilled Professionals restraining Market Expansion
The emerging economies are extremely underfunded as compared to the demand for developed healthcare infrastructure. There is a shortage of adequate skilled medical staff to meet the rising healthcare demands of the population.
Additionally, the absence of sufficient healthcare facilities and attractive medical reimbursement policies are expected to restrain emerging economies from achieving full potential in the healthcare sector.
This will challenge market expansion of pleural disease therapeutics. Furthermore, high risk of infection, collapsed lung and bleeding are also expected to restrain the Pleural diseases therapeutics market during the forecast period.
North America to dominate the market with maximum share
North America is anticipated to dominate the market of Pleural treatment by reaching market value of USD 4.23 billion by end of the forecast period. It is estimated to have monopoly over 45% market share by 2033, while exhibiting CAGR of 6.2% during the forecast period.
Among other countries in this region, the United States is expected to dominate the market, owing to factors such as rising healthcare expenditure, mounting research and developments, and increasing prevalence of heart diseases. In addition, increase in geriatric population across the United States is also expected to propel growth in pleural effusions market.
In patients with cancer and heart failure, pleural effusions are most likely malignant that increases the market scope of pleural disease therapeutics. The rising burden of diseases in this region is anticipated to create opportunities for expansion of pleural disease treatment market.
Moreover, the data shared by the American Cancer Society’s Cancer Statistics in 2022, around 2.5 million new cancer cases are expected to be diagnosed in the United States in the year 2023 which will open up new paths for market expansion of pleural disease treatment.
On the other hand, heart failure is a prevalent health and economic burden for the United States due to the aging population. As per the American Heart Association data provided in April 2022, nearly 116 million people suffer from hypertension, 100 million have obesity, 92.2 million have prediabetes, 26.5 million have diabetes, and around 125 million have atherosclerotic cardiovascular diseases in the United States, which are the risk factors for the development of heart failure.
Therefore, the growing burden of cardiovascular diseases creates the risk of pleural effusions in the target population in this region. This is expected to fuel market growth during the projected period.
Similarly, increasing technological advancements, the availability of structured healthcare facilities, and increasing prevalence of respiratory diseases are also expected to fuel market growth. According to the American Cancer Society, lung cancer was most prevalent cancer in the United States in 2018.
It is the second most prevalent cancer in both men and women. Also, it is the most common cause of malignant pleural effusion, accounting for around 30% of all Malignant pleural effusion. This will bolster the market growth of therapeutics used in treating pleural diseases, which will further support market growth.
High rate of Chronic Lung Disorders propelling growth in Europe
The market for pleural disease therapeutics in Europe is projected to hold around 29% market share. The regional market is estimated to be worth more than USD 2.7 billion by end of 2033, with a CAGR of 5.5% during the projected period. This region is the second largest market for treatment of Pleural diseases globally, followed by Asia Pacific.
The growth is attributable to increase in prevalence of chronic lung conditions and cancer diseases leading to pleural effusion state. This is a significant factor driving growth in this region. Furthermore, presence of key players and the availability of expertise in performing surgeries are major factors propelling growth in this region.
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Thoracentesis driving growth with a Significant Market Share
This segment is estimated to dominate the market by accounting for 34% market by end of the forecast period. The treatment of pleural diseases by utilizing Thoracentesis treatment is gaining traction and it is showing opportunities prospects in the coming years. It used in case of large effusions whereas pleurodesis can prevent pleural effusions from coming back.
In the United States, thoracentesis is performed more than 1.75 million times a year which reflects the growth potential of this segment in the coming years. Also, this treatment option helps the affected patients in easing any shortness of breath or pain by removing the fluid and relieving pressure from the lungs.
Moreover, rising inclination from patients and recommendation from doctors in treating pleural effusion by this procedure is propelling growth of this segment.
Hospitals to stimulate growth with Maximum Share
Hospitals are expected to lead the segment by reaching 65% market share by end of the forecast period. The surge in investments by industry players in pleural disease therapeutics market is directly benefiting the hospitals, owing to robust infrastructure, next generation medical equipment’s, rapid adoption of novel drugs and ease of access to the patients. These factors are fuelling growth of this segment.
Start-ups help in understanding the growth prospects of any industry. Start-ups also have the potential to generate high returns which directly benefits in growth of any market. This is because these are naturally more efficient at converting inputs into outputs.
These are more flexible and adaptable in nature, able to shift rapidly in response to changing market conditions. Some of the start-ups that will fuel the expansion of Pleural disease therapeutics market are:
The Pleural diseases therapeutics market is moderately competitive and consists of various key market players. These players are creating novel delivery systems for treating Pleural diseases. This is anticipated to fuel Pleural diseases therapeutics market.
The key players in the market are: WakeMed Health and Hospitals, Boston Medical, Max Healthcare, Avik Pharma, Pfizer CentreOne, Hovione, Pipelinepharma, Hoffmann-La Roche AG, Boehringer Ingelheim International GmbH, Bausch Health Companies Inc., Sanofi S.A.
Key market players are focusing on adoption of inorganic growth strategies such as acquisition, partnerships, and collaboration in order to enhance their product portfolio. This is expected to propel the global Pleural diseases therapeutics market.
Some Recent Developments in the Market Are:
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 4.98 billion |
| Market Value in 2033 | USD 9.4 billion |
| Growth Rate | CAGR of 6.5% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Treatment, End Users, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, China, Japan, Indonesia, Singapore, Thailand, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | WakeMed Health and Hospitals; Boston Medical; Max Healthcare; Avik Pharma; Pfizer CentreOne; Hovione; Pipelinepharma; Hoffmann-La Roche A; Boehringer Ingelheim International GmbH; Bausch Health Companies Inc.; Sanofi S.A. |
| Customization | Available Upon Request |
The market is valued at USD 4.98 billion in 2023.
Max Healthcare and Sanofi S.A. are key market players.
The hospital segment are likely to remain preferred through 2033.
Players opt for new launch, partnerships and collaborations.
Japan, India, and China dominate the Asian market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Treatment 5.1. Drug Class 5.1.1. Antibiotics 5.1.2. Antifungals 5.1.3. Corticosteroids 5.1.4. Narcotic Analgesics 5.1.5. Nonsteroidal Anti-inflammatory Drugs - NSAIDs 5.2. Bullectomy 5.3. Chemotherapy 5.4. Video-Assisted Thorascopic Surgery - VATS 5.5. PleurX Catheter 5.6. Pleurodesis Therapy 5.7. Radiation Therapy 5.8. Thoracentesis 5.9. Thoracostomy 5.10. Tumor Ablation 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Users 6.1. Hospitals 6.2. Specialty Clinics 6.3. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. WakeMed Health and Hospitals 15.2. Boston Medical Center 15.3. Max Healthcare 15.4. Avik Pharma 15.5. Pfizer CentreOne 15.6. Hovione 15.7. Pipelinepharma 15.8. Hoffmann-La Roche AG 15.9. Boehringer Ingelheim International GmbH 15.10. Bausch Health Companies Inc. 15.11. Sanofi S.A. 16. Assumptions & Acronyms Used 17. Research Methodology
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Pleural Diseases Therapeutics Market
