Pleural Diseases Market Owing To Rising Prevalence Of Lung Cancer

Pleural Diseases Market

 Market Overview:

Pleural diseases market involves products that are used to treat pleural diseases conditions such as pleurisy, pneumothorax, pleural effusion, and mesothelioma. The key products in this market include pleural catheters, thoracentesis devices, biopsy devices, and others. Pleural effusion is one of the most common conditions indicating excess fluid build up between the chest wall and lungs which requires drainage using pleural catheters or thoracentesis devices.

Market Dynamics:

The rising prevalence of lung cancer is one of the major drivers of the pleural diseases market. For instance, according to the American Cancer Society, lung cancer accounts for about 25% of all cancer deaths and is the second most common cancer. Around 235,760 new cases of lung cancer were diagnosed and over 131,880 deaths from lung cancer occurred in 2018 in the United States. Furthermore, increasing adoption of minimally invasive procedures for drainage and biopsy of pleural effusion is also fueling the market growth. For instance, video-assisted thoracoscopic surgery allows drainage of pleural effusions and biopsy of pleural tissues using small incisions instead of large incisions. However, high cost of pleural biopsy and drainage procedures may hamper market growth over the forecast period.

SWOT Analysis

Strength: Pleural Diseases market has strong growth potential owing to rising cases of respiratory diseases across the globe. Well-established healthcare infrastructure and increasing awareness about pleural diseases are positively impacting the market growth. Various treatment options available for pleural diseases provides advantage to market players.

Weakness: High cost associated with pleural disease treatment limits penetration in low and middle income countries. Lack of diagnostic infrastructure and skilled professionals in underdeveloped regions poses challenges to market.

Opportunity: Growing geriatric population prone to pleural diseases acts as high impact rendering opportunity. Advancements in drug delivery systems and minimally invasive procedures can boost market opportunities.

Threats: Compliance challenges associated with lengthy treatment protocols reduce treatment adherence. Adverse effects of some existing drugs limit product penetration.

Key Takeaways:

The Global Pleural Diseases Market Demand is expected to witness high growth, exhibiting CAGR of 6.8% over the forecast period, due to increasing prevalence of respiratory diseases as a result of surge in pollution levels and changing lifestyle. According to Market Size for 2023 is US$ 3.84 Bn.

Regional analysis North America dominates the global Pleural Diseases market owing to rising healthcare spending and affordability of advanced treatment options in countries like United States and Canada. Europe accounts for significant market share due to presence of major market players and supportive government initiatives to strengthen healthcare system in the region. However, Asia Pacific represents fastest growing region on back of growing medical tourism, improving healthcare infrastructure and expanding target patient base in countries like India and China.

Key players operating in the Pleural Diseases market are Johnson & Johnson, AstraZeneca, Novartis International AG, Roche Holding AG, Bristol Myers Squibb, Merck & Co. Inc., Pfizer Inc., GlaxoSmithKline plc, Boehringer Ingelheim International GmbH, Sanofi, AbbVie Inc., Eli Lilly and Company, Takeda Pharmaceutical Company Limited, Bayer AG, Celgene Corporation. Companies adopt competitive strategies such as mergers, acquisitions and collaborations to strengthen product portfolio and sustain market position.

Read More:

https://www.marketwebjournal.com/pleural-diseases-market-share-growth-and-overview/