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